"Last week, he rang the closing bell at the New York Stock Exchange. His company, Off The Hook Yachts, is now publicly traded and valued at around $68 million. It's a mostly online marketplace and dealer for pre-owned boats. Sellers list their boats, brokers help match them with buyers, and the company sometimes buys boats into its own inventory to resell. Ruegg calls it "Carvana for boats," with offers in as little as 30 minutes and, at times, same-day closings."
"Jason Ruegg started flipping boats in college. Last week, he rang the closing bell at the New York Stock Exchange. His company, Off The Hook Yachts, is now publicly traded and valued at around $68 million. It's a mostly online marketplace and dealer for pre-owned boats. Sellers list their boats, brokers help match them with buyers, and the company sometimes buys boats into its own inventory to resell."
Jason Ruegg began flipping boats in college and now leads Off The Hook Yachts, a publicly traded company valued around $68 million. The company operates a mostly online marketplace and dealer platform for pre-owned boats. Sellers list boats, brokers match buyers, and the company sometimes purchases boats into its own inventory to resell. The firm promotes rapid offers—sometimes in as little as 30 minutes—and occasional same-day closings. After raising $15 million in an IPO, the company expanded its credit line to $60 million, enabling larger simultaneous acquisitions. Ruegg emphasizes that inventory businesses scale through sufficient financing and rapid execution.
Read at Entrepreneur
Unable to calculate read time
Collection
[
|
...
]