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Business Insider
6 hours ago
- Business
- Business Insider
Boat Trader and YachtWorld owner has a chokehold on the US marine vessel market, an antitrust lawsuit alleges
A Miami boat brokerage alleges yacht buyers are being boxed in and priced up. In a new lawsuit, it accuses the Miami-based owner behind some of the leading online platforms for buying and selling boats and yachts of holding an illegal monopoly in the US marine vessel market. The proposed class action antitrust lawsuit, filed in a Florida federal court late last week by the local boat brokerage, alleges that Boats Group has engaged in strong-arm tactics to choke competition and has used its market power to jack up prices on brokers and dealers. Boats Group, which operates the platforms Boat Trader, YachtWorld, and "has willfully maintained and expanded its monopoly power through exclusionary practices rather than competition on the merits," the lawsuit alleges. "This conduct has enabled Boats Group to preserve its monopoly power not through superior products or services, but through exclusionary tactics that suppress competition, reduce entry and innovation, and harm sellers and consumers," the lawsuit says. Representatives for Boats Group did not immediately respond to a request for comment on Monday from Business Insider. Permira, the global private equity firm that owns Boats Group, declined to comment. (Permira is not named as a defendant in the lawsuit). The lawsuit, filed by Brill Maritime Inc., which does business as Export Yacht Sales, seeks to "restore competitive conditions" in the boat market and recover damages for any US individuals or businesses allegedly harmed as a result of Boat Group's "anticompetitive conduct." The proposed class is estimated to be thousands of members, the lawsuit says. The lawsuit says that Boats Group publicly claims to control about 75% of the global market for online marine vessel listing and marketing services and that its share of the US market is believed to be similarly high. The company's website says its platforms attract more than 65 million annual visitors, "giving sellers unmatched exposure to serious boat buyers." Boats Group's subscription agreements with sellers, the lawsuit says, "contain exclusive dealing provisions that either prohibit or strongly discourage sellers, particularly brokers and dealers, from listing their inventory on competing platforms." Through subscriptions, boat sellers pay Boats Group to have their vessel inventory listed and marketed to a large swath of prospective buyers, the lawsuit says. Export Yacht Sales says in the lawsuit that it purchases these subscriptions with Boats Group and that it has been forced to pay "supracompetitive prices for essential marketing services, with effectively zero viable alternatives available." The Miami brokerage says in the lawsuit that its combined monthly cost of listing on Boat Trader and YachtWorld skyrocketed by more than 400% between 2014 and 2024, jumping from $1,004 to $5,128. The plaintiff was charged $2,900 a month by Boat Trader alone in 2025, the lawsuit adds. "Boats Group's exclusionary behavior has suppressed competition, harmed sellers and brokerages, and distorted the structure and dynamics of the online boat sales marketplace," the lawsuit says. As a result, the lawsuit says, consumers are met with fewer options and higher prices for their boating needs. "This dominance has enabled Boats Group's predatory conduct to persist over time, allowing it to impose supracompetitive prices for subscription-based listing and marketing services without losing significant business to rivals, restrict sellers' ability to switch to alternative services, and foreclose entry and expansion by rival platforms," the lawsuit alleges. Attorneys for Export Yacht Sales told Business Insider in a statement that the lawsuit "highlights the severe impact that Boats Group's anticompetitive conduct has had on this industry." "By monopolizing the market for online boat listing services, Boats Group has been able to impose steep and sustained price increases, forcing brokers to pay inflated subscription fees without viable alternatives," the lawyers said.
The Herald Scotland
26-06-2025
- Business
- The Herald Scotland
Jeff Bezos' superyacht: See 'Koru' photos and key features
The billionaire founder was photographed June 25 arriving at Venice's historic Aman Hotel in a water taxi with Sanchez. In the lead up to the wedding, Bezos and his luxurious possessions are back in the spotlight. Here's what to know about his superyacht, Koru. Need a break? Play the USA TODAY Daily Crossword Puzzle. How big is Koru? Koru is the largest sailing yacht in the world, according to Netherlands-based custom yacht builder Oceanco, which built the vessel. The three-masted schooner is estimated to be 417 feet long and includes a midnight blue hull, several decks, three jacuzzis and a pool atop the deck, per Oceanco and Yacht World. The masts are about 230 feet high, Yacht World reported, making them almost the same height as the Great Pyramid of Giza. In 2022, the yacht became embroiled in controversy after news emerged that part of Rotterdam's historic Koningshaven Bridge, locally known as De Hef, could be dismantled to transport the boat from Oceanco's inland dock in Alblasserdam to the North Sea, according to prior media reports. While city officials initially planned to take apart the bridge to allow the tall masts of the boat to pass through, public backlash prompted them to walk back on their decision, the New York Times reported at the time. Oceanco later transported the masts separately and the finished product was delivered to Mallorca in 2023, German media outlet Spiegel and Boat International reported. What does 'Koru' mean? Koru is Maori for loop or coil and is symbolized by a spiral shape. The word references new beginnings and the start of a new chapter, focused on change and personal growth. The yacht's support vessel, meanwhile, is named Abeona after the Roman goddess of journeys, Architectural Digest reported. Koru features The superyacht's exterior was designed by Dutch company Dykstra Naval Architecture, while the interior was handled by interior design firm Mlinaric Henry & Zervudachi, Oceanco said. Oceanco describes the interior as "timeless, contemporary style, with natural wood tones complemented by a palette of warm neutrals and beautifully patterned textiles." Lauren Sanchez shot down speculation about Koru's figurehead It has been suggested that the figurehead adorning Koru looks like Bezos' wife-to-be, Sanchez. However, Sanchez shut down the rumors in a November 2023 interview with Vogue, telling the media outlet that the figurehead, an ornamental symbol located on the bow of a ship, is one of Bezos's favorite mythological figures, Freyja, Norse goddess of love, fertility, war, and gold. "I'm very flattered, but it's not," Sanchez remarked to Vogue. In pictures: Koru Bezos proposed to Lauren on Koru Bezos popped the question to Sanchez on Koru during a trip to the Cannes Film Festival in May 2023, when he hid a box containing a pink diamond engagement ring under her pillow, Sanchez shared with Vogue. "When he opened the box, I think I blacked out a bit," she told the outlet. Who was Jeff Bezos' first wife? All about philanthropist MacKenzie Scott When is Jeff Bezos' wedding to Lauren Sanchez? Bezos and Sanchez have been rather tight-lipped about their upcoming nuptials, and the exact date of their wedding has not been revealed. Reuters and The New York Times reported the three-day wedding is likely to occur between June 26 and 28. About 200 guests, including some of the couple's closest celebrity friends such Oprah Winfrey, designer Diane von Furstenberg and husband Barry Diller, Mick Jagger, Salma Hayek, Ivanka Trump and Jared Kushner, Eva Longoria, and Kim Kardashian, are expected to be in attendance. Five of the city's most luxurious hotels have been booked out to host the wedding party. Bezos and Sanchez are not the first celebrity couple to choose Italy for their destination wedding. Previously, George and Amal Clooney also wed in Venice in 2014, as did Salma Hayek and her billionaire husband Francois-Henri Pinault in 2009. Contributing: Anna Kaufman, Amanda Lee Myers, USA TODAY; Reuters Saman Shafiq is a trending news reporter for USA TODAY. Reach her at sshafiq@ and follow her on X and Instagram @saman_shafiq7.
USA Today
25-06-2025
- Business
- USA Today
Jeff Bezos' superyacht: What to know about the lavish 'Koru'
Wedding bells are ringing for billionaire Amazon founder Jeff Bezos, who is getting ready to walk down the aisle with his fiancée of several years, Lauren Sánchez in a star-studded, lavish ceremony in Italy, details of which are being kept under wraps. The two, who went public with their relationship in 2019 and got engaged in 2023, will tie the knot in Venice, Italy, the city previously confirmed. The wedding comes about six years after the tech mogul, 61, and former television journalist, 55, founder began dating and their nuptials are shaping up to be the event of the year, despite ongoing protests against it by locals. The billionaire founder was photographed June 25 arriving at Venice's historic Aman Hotel in a water taxi with Sánchez. In the lead up to the wedding, Bezos and his luxurious possessions are back in the spotlight. Here's what to know about his superyacht, Koru. Need a break? Play the USA TODAY Daily Crossword Puzzle. How big is Koru? Koru is the largest sailing yacht in the world, according to Netherlands-based custom yacht builder Oceanco, which built the vessel. The three-masted schooner is estimated to be 417 feet long and includes a midnight blue hull, several decks, three jacuzzis and a pool atop the deck, per Oceanco and Yacht World. The masts are about 230 feet high, Yacht World reported, making them almost the same height as the Great Pyramid of Giza. In 2022, the yacht became embroiled in controversy after news emerged that part of Rotterdam's historic Koningshaven Bridge, locally known as De Hef, could be dismantled to transport the boat from Oceanco's inland dock in Alblasserdam to the North Sea, according to prior media reports. While city officials initially planned to take apart the bridge to allow the tall masts of the boat to pass through, public backlash prompted them to walk back on their decision, the New York Times reported at the time. Oceanco later transported the masts separately and the finished product was delivered to Mallorca in 2023, German media outlet Spiegel and Boat International reported. What does 'Koru' mean? Koru is Māori for loop or coil and is symbolized by a spiral shape. The word references new beginnings and the start of a new chapter, focused on change and personal growth. The yacht's support vessel, meanwhile, is named Abeona after the Roman goddess of journeys, Architectural Digest reported. Koru features The superyacht's exterior was designed by Dutch company Dykstra Naval Architecture, while the interior was handled by interior design firm Mlinaric Henry & Zervudachi, Oceanco said. Oceanco describes the interior as 'timeless, contemporary style, with natural wood tones complemented by a palette of warm neutrals and beautifully patterned textiles.' Lauren Sánchez shot down speculation about Koru's figurehead It has been suggested that the figurehead adorning Koru looks like Bezos' wife-to-be, Sánchez. However, Sánchez shut down the rumors in a November 2023 interview with Vogue, telling the media outlet that the figurehead, an ornamental symbol located on the bow of a ship, is one of Bezos's favorite mythological figures, Freyja, Norse goddess of love, fertility, war, and gold. 'I'm very flattered, but it's not,' Sánchez remarked to Vogue. In pictures: Koru Bezos proposed to Lauren on Koru Bezos popped the question to Sánchez on Koru during a trip to the Cannes Film Festival in May 2023, when he hid a box containing a pink diamond engagement ring under her pillow, Sánchez shared with Vogue. "When he opened the box, I think I blacked out a bit," she told the outlet. Who was Jeff Bezos' first wife? All about philanthropist MacKenzie Scott When is Jeff Bezos' wedding to Lauren Sánchez? Bezos and Sánchez have been rather tight-lipped about their upcoming nuptials, and the exact date of their wedding has not been revealed. Reuters and The New York Times reported the three-day wedding is likely to occur between June 26 and 28. About 200 guests, including some of the couple's closest celebrity friends such Oprah Winfrey, designer Diane von Furstenberg and husband Barry Diller, Mick Jagger, Salma Hayek, Ivanka Trump and Jared Kushner, Eva Longoria, and Kim Kardashian, are expected to be in attendance. Five of the city's most luxurious hotels have been booked out to host the wedding party. Bezos and Sánchez are not the first celebrity couple to choose Italy for their destination wedding. Previously, George and Amal Clooney also wed in Venice in 2014, as did Salma Hayek and her billionaire husband François-Henri Pinault in 2009. Contributing: Anna Kaufman, Amanda Lee Myers, USA TODAY; Reuters Saman Shafiq is a trending news reporter for USA TODAY. Reach her at sshafiq@ and follow her on X and Instagram @saman_shafiq7.
Yahoo
11-06-2025
- Business
- Yahoo
Boats Group Launches AI-Powered Listing Builder to Help Dealers and Brokers Save Time and Create Smarter Listings
MIAMI, June 11, 2025 /PRNewswire/ -- Boats Group, the tech company behind the marine industry's leading digital marketplaces—including YachtWorld, Boat Trader, and announced the launch of its new AI-Powered Listing Builder. This innovative tool is designed to help dealers, brokers, and OEMs streamline the listing process and publish optimized, professional descriptions in a fraction of the time. As AI continues to gain momentum across industries, Boats Group is taking a deliberate, practical approach, focused on building tools that solve real-world problems. Unlike companies simply racing to market with AI-labeled features, Boats Group's focus is not on automation for its own sake, but on building smarter, more intuitive digital experiences that help customers succeed. The AI Listing Builder was developed in close collaboration with customers to ensure it meets the needs of professionals who rely on accurate, engaging listings to drive inquiries and sales. "There's a lot of noise right now around AI, but not all tools are created with the end user in mind," said Mike Grabowski, Chief Product Officer at Boats Group. "We believe AI should enhance—not replace—the relationships we've built with our customers. Listing Builder reflects that thinking. It helps our partners work more efficiently while maintaining the quality buyers expect." Now available across Boats Group's marketplaces, the AI Listing Builder uses structured boat data to generate clear, consistent, and SEO-friendly listing descriptions, reducing the time spent on writing and editing by up to 70%. The tool ensures that each listing highlights the right details, improving both discoverability and the user experience for online shoppers. "Creating a great listing used to be a time-consuming task," said John Barrile, Chief Technology Officer at Boats Group. "AI Listing Builder gets our customers from draft to publish faster, with content that performs better and requires fewer edits." The release of AI Listing Builder is part of a broader AI strategy at Boats Group, one focused on building smart, user-friendly tools that reflect how boats are actually sold online. By leveraging its industry-leading volume of inventory, search data, and user behavior insights, Boats Group is uniquely positioned to develop AI features that provide immediate value. "We're not experimenting—we're investing in proven AI that works," said Grabowski. "We're committed to building more of these intelligent tools, with even more features coming soon." For more information about AI Listing Builder and Boats Group's investment in AI, visit About Boats Group Boats Group operates the world's most trusted and widely used online marketplaces for buying and selling boats, including Boat Trader, YachtWorld, and For over 30 years, Boats Group has led the marine industry's transformation, consistently setting the standard for how boats are discovered, marketed, and sold online. Today, the company reaches more than 200 million boat shoppers annually and is powering the next generation of recreational boating commerce with AI-enabled tools, data-driven marketing solutions, financing services, and actionable insights. Backed by the largest inventory and audience in the industry, Boats Group helps OEMs, dealers, and brokers grow their business and connect with buyers more efficiently than any other source. Media Contact: Courtney ChalmersVP of Marketing, Boats GroupEmail: press@ 1-877-354-4069 View original content to download multimedia: SOURCE Boats Group, LLC
Associated Press
04-06-2025
- Business
- Associated Press
Boats Group Debuts Internal AI Customer Support Agent to Deliver Faster, More Consistent Help for Dealers and YachtCloser Users
MIAMI, June 4, 2025 /PRNewswire/ -- Boats Group today announced the launch of its new Customer Support Agent, an internal AI-powered tool that helps the company's account management and support teams deliver faster, more consistent assistance to dealers, brokers, and OEMs across its marketplaces—including YachtWorld, Boat Trader, and transaction platform YachtCloser. The AI Customer Support Agent provides Boats Group employees with instant, step-by-step instructions—complete with screenshots—for the most frequently asked customer questions. This includes everything from managing inventory listings to navigating reporting dashboards and using YachtCloser. 'Our goal is to be more responsive without sacrificing quality,' said John Barrile, Chief Technology Officer at Boats Group. 'AI Customer Support Agent doesn't replace the personal touch—it reinforces it by giving our team better tools to deliver clear, reliable help.' Designed specifically to support human agents, the AI Customer Support Agent is not a chatbot or automated responder. Instead, it enhances the team's ability to assist customers quickly and accurately, particularly when solving repetitive or technical tasks. The result is a more efficient, more dependable support experience for Boats Group clients, without losing the relationship-first approach the company is known for. This launch is part of a broader AI strategy focused on real-world usefulness over buzzword adoption. By developing tools in collaboration with beta users and frontline support teams, Boats Group ensures each AI feature is built for the practical workflows of the marine industry. 'While many companies are racing to launch AI features, we're focused on building the ones that truly help our customers succeed,' said Mike Grabowski, Chief Product Officer at Boats Group. 'AI Customer Support Agent is the kind of tool that doesn't just save time—it improves the overall experience.' Boats Group's investment in AI is centered around enabling its team and partners to work smarter, not replacing people. With more AI-driven features planned in 2025 and beyond, Boats Group remains committed to developing tools that support both human expertise and customer expectations. For more information about AI Customer Support Agent and Boats Group's approach to AI, visit About Boats Group Boats Group operates the world's most trusted and widely used online marketplaces for buying and selling boats, including Boat Trader, YachtWorld, and For over 30 years, Boats Group has led the marine industry's transformation, consistently setting the standard for how boats are discovered, marketed, and sold online. Today, the company reaches more than 200 million boat shoppers annually and is powering the next generation of recreational boating commerce with AI-enabled tools, data-driven marketing solutions, financing services, and actionable insights. Backed by the largest inventory and audience in the industry, Boats Group helps OEMs, dealers, and brokers grow their business and connect with buyers more efficiently than any other source. Media Contact: Courtney Chalmers VP of Marketing, Boats Group Email: [email protected] Phone: 1-877-354-4069 View original content to download multimedia: SOURCE Boats Group, LLC
