Steve Astle
Applied Communications
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or Kathleen Noonan
Applied Communications
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Internet Deal Combines Content and Customers on E-Commerce Startup Serving $100 Billion Boating and Marine Industry

SAN FRANCISCO, Jan. 27, today announced an agreement with The Cobalt Group (NASDAQ: CBLT) to acquire, a popular online yachting marketplace wholly owned by Cobalt. The acquisition is the first Internet content deal within the boating industry, a $100 billion business that reaches an Internet-savvy market demographic of more than 75 million active boaters worldwide., which also announced its first-round financing and management team today, is building the premier e-commerce marketplace for the boating community.

Launched in 1995, has become the yachting community's top online marketplace, establishing relationships between yacht brokers and boat dealers with prospective buyers of new and used boats. With tens of thousands of current boat listings from hundreds of professional brokers, dealers and builders, has evolved into the most-frequented yachting online resource with more than seven million page views each month.

"'s long term pioneering efforts to connect boaters, brokers and manufacturers has resulted in an excellent online destination," said Rolando Esteverena, CEO of "Today's acquisition will enhance YachtWorld's current boat listings with outstanding new content and the resources of an enterprise dedicated to establishing the world's premier value added site for the boating community." will continue to be lead by its current management, General Manager Neil McCurdy, founding Publisher Jessica Muffett, and other staff, all of whom will become employees of The business will continue to operate from facilities in Seattle and remain focused on expanding the traffic and product offerings for the yacht broker and boat dealer communities.

" has surpassed expectations as the focal point for connecting the yachting community," said John Holt, Cobalt's president and chief executive officer. "We concluded, however, that the boating community would be better served by the combined efforts of and as Cobalt resources are focused on the fast-moving Internet-based automotive businesses. We were very impressed with the management team and their vision and are confident that YachtWorld's customers will be served very well by this acquisition."

About is building the premier e-commerce hub for the marine community. The company will unite boaters, marinas, boatyards, brokers, dealers, service businesses, distributors and manufacturers in a mutual exchange to improve the boating and marine experience. Founded in 1999, is a private company funded by Mayfield Fund and Trident Capital. Headquarters are located at Pier 38, The Embarcadero in San Francisco.