Competition
Vertical Booking Platform Comps
- Updated
- March 21st 2026
Analog comps for Meridia's fishing experiences platform. Each vertical below has a dominant booking/marketplace platform that aggregates supply (guides, lodges, courses, boats) and connects demand (enthusiasts, travelers). These prove the model works across high-value outdoor verticals.
GOLF
GolfNow (Versant Media Group, fka NBC Sports Next)
| Metric | Value | Year |
|---|---|---|
| Courses on platform | 9,000+ | 2025 |
| Countries | 52 | 2025 |
| Registered golfers | 3.5M | 2025 |
| Annual rounds booked | 40M+ | 2025 |
| Revenue delivered to courses | $1B+ | 2023 |
| New courses added (Q1 2025) | 320+ | 2025 |
| Record month (courses added) | 88 in July 2025 | 2025 |
| Business model | SaaS + marketplace + subscription (GolfPass) | |
| Ownership | Versant Media Group (spun out of Comcast Jan 2026) |
Key insight: Software and subscriptions now drive ~50% of revenue. Evolved from pure marketplace to full tech stack. GolfPass provides tee time credits, streaming, and perks -- bundling content with booking.
Sources:
- GolfNow | NBC Sports Next - NGF
- GolfNow record month - NBC Sports
- NBC Sports Next $1B+ revenue to courses
- GolfNow leaves NBC / Versant
- GolfPass double-digit YoY growth
Golf Tourism Market
| Metric | Value | Source |
|---|---|---|
| Global market (2025) | $25-28B | Grand View Research, Fortune BI |
| Projected (2035) | $65.8B | Global Market Statistics |
| CAGR | 9.3% | Multiple sources |
Sources:
SKIING / SNOWSPORTS
Epic Pass (Vail Resorts - MTN)
| Metric | Value | Year |
|---|---|---|
| Passholders | ~2.3M | 2025/26 season |
| Pass revenue | ~$1B | 2025/26 season |
| % of skier visits from passes | 74% | 2025/26 |
| Owned/operated resorts | 42 | 2025 |
| Total accessible mountains | 90+ | 2025 |
| Total company revenue | $2.96B | FY2025 (ended Jul 31) |
| Pass unit sales trend | -2% units, +3% dollars YoY | Dec 2025 |
| Business model | Season pass + resort operations | |
| Ownership | Public (NYSE: MTN) |
Sources:
Ikon Pass (Alterra Mountain Company)
| Metric | Value | Year |
|---|---|---|
| Owned resorts | 18 | 2025 |
| Accessible destinations | 50+ | 2025 |
| EBITDA | ~$550M | 2023 |
| Enterprise value | ~$7B | 2024 |
| Capital investment | $400M (single year) | 2025/26 |
| KSL continuation fund | $3B | Jan 2025 |
| Full Ikon Pass price | $1,349-$1,399 | 2026/27 |
| Business model | Season pass + resort operations | |
| Ownership | Private (KSL Capital Partners + Henry Crown) |
Key insight: Alterra does not disclose passholder counts or skier visits. The $3B KSL continuation fund was an investor liquidity event, not new growth capital. Ikon offered credits to incentivize visits during a low-snow 2025/26 season.
Sources:
Liftopia (now Catalate)
| Metric | Value | Year |
|---|---|---|
| Resorts on platform | ~250 | Pre-2020 |
| Total funding raised | ~$27M | Through 2020 |
| Status | Acquired by Skitude (Nov 2020) after pandemic collapse | |
| Rebranded | Catalate | |
| Business model | Dynamic pricing + lift ticket marketplace |
Source: Skitude acquires Liftopia
Ski Tourism Market
| Metric | Value |
|---|---|
| Global ski tourism (2025) | $27B |
| Mountain/ski resorts market (2025) | $20.1B |
| Projected (2033) | $45-49B |
| CAGR | 7.5-11.8% |
Sources:
DIVING
PADI Travel (PADI)
| Metric | Value | Year |
|---|---|---|
| Total certified divers (lifetime) | 30M+ | 2025 |
| Professional members | 128,000+ | 2021 |
| Dive centers & resorts (PADI network) | 6,600+ | 2021 |
| Dive shops online (PADI Adventures) | 1,100+ in 80+ countries | 2025 |
| App downloads | 110,000+ | 2025 |
| Total bookings (first 3 years) | 12,000+ | 2023 |
| Booking growth | +40% YoY | 2023 |
| Bookable inventory growth | +35% YoY | 2023 |
| Repeat booking rate | 12% | 2025 |
| Business model | Commission on bookings + certification fees |
Key insight: PADI owns the certification funnel (30M+ certified divers = captive demand) and layered travel booking on top. The flywheel: certify -> book first dive trip -> book more trips.
Sources:
- PADI Adventures 2025 Year in Review
- PADI Travel case study - DjangoStars
- PADI corporate statistics
- PADI new dive operations 2025
SSI (Scuba Schools International)
| Metric | Value | Year |
|---|---|---|
| Training centers | 4,000+ | 2025 |
| Professional members | 100,000+ | 2025 |
| Countries | 150+ | 2025 |
| Business model | Training certification + dive center network |
Source: SSI About
LiveAboard.com
| Metric | Value | Year |
|---|---|---|
| Liveaboards listed | 500+ | 2025 |
| Customer reviews | 13,295+ | 2025 |
| Average trip price | $150-600/day | 2025 |
| Business model | Commission on bookings |
Source: LiveAboard.com
Dive Tourism Market
| Metric | Value |
|---|---|
| Global dive tourism (2025) | $5-11B (varies by methodology) |
| Total economic impact (direct + indirect) | $8.5-20.4B annually |
| Projected (2030-2035) | $8.6-18.5B |
| CAGR | 5.2-11% |
Sources:
HUNTING
BookYourHunt.com
| Metric | Value | Year |
|---|---|---|
| Hunting trips listed | 3,772+ | 2025 |
| Outfitters on platform | 820+ | 2025 |
| Countries | 58+ | 2025 |
| Annual visitors | 1M+ | 2024 |
| Languages | 4 | 2025 |
| Founded | 2015 | |
| Business model | Commission from outfitters (free for hunters) |
Key insight: Largest hunt-booking site globally by listings and outfitters. Commission model mirrors fishing guide marketplaces.
Sources:
MeatEater (Media + Commerce)
| Metric | Value | Year |
|---|---|---|
| Annual revenue | $100M+ | 2024 |
| Media division growth | +40% YoY | 2024 |
| Total funding | $50M | Through 2024 |
| Investors | The Chernin Group | |
| Business model | Media (podcast, video) + e-commerce + content |
Key insight: MeatEater proves the content-to-commerce flywheel in hunting/outdoor. Media audience -> product sales -> $100M+ revenue. Podcasting is most profitable asset. Not a booking platform, but relevant as a vertical media empire in hunting.
Sources:
Hunting Tourism Market
| Metric | Value |
|---|---|
| Wildlife hunting tourism (2025) | $667M |
| Projected (2032) | $2.6B |
| CAGR | 21.7% |
| Overall hunting market (2025) | $26.8B |
| North America share | 30% of hunting tourism |
Sources:
SAILING / BOATING
GetMyBoat
| Metric | Value | Year |
|---|---|---|
| Listings | 150,000+ | 2025 |
| Countries | 180+ | 2025 |
| Annual revenue | ~$160M | 2025 |
| Prior year revenue | ~$120M | 2023 |
| Total funding | $35.8M | Through 2025 |
| Status | Acquired by / merged with Boatsetter (Dec 2025) | |
| Business model | Marketplace commission |
Sources:
Click&Boat
| Metric | Value | Year |
|---|---|---|
| Listings | 30,000+ | 2025 |
| Total funding | $6.3M | Through 2021 |
| Status | Acquired by Boats Group (Jul 2021) | |
| Acquisitions made | 3 (Nautal, Oceans Evasion, Sailsharing) | |
| Profitable since | 2015 | |
| Business model | Marketplace commission | |
| Position | Europe's largest P2P boat marketplace |
Source: Click&Boat Crunchbase
SamBoat
| Metric | Value | Year |
|---|---|---|
| Listings | 25,000+ (Europe-focused) | 2025 |
| Status | Acquired by Dream Yacht Charter (Nov 2018) | |
| Business model | Marketplace commission |
Yacht Charter Market
| Metric | Value |
|---|---|
| Global yacht charter (2025) | $9-14B (varies) |
| Projected (2034) | $18-29B |
| CAGR | 5-8% |
| Europe market share | 69% |
Sources:
SURFING
Surfline (Surfline/Wavetrak)
| Metric | Value | Year |
|---|---|---|
| Registered users | 3M+ | 2021 |
| Total funding | $30-42.8M | Through 2021 |
| Lead investor | TCG (The Chernin Group) | 2021 |
| Other investors | ScOp Venture Capital, O'Connor Ventures | |
| Brands owned | Magicseaweed, Coastalwatch, Buoyweather, FishTrack | |
| Business model | Freemium subscription (Pro ~$100/yr) + advertising |
Key insight: Surfline is forecast/data-first, travel-second. Owns FishTrack (fishing forecast tool) -- relevant overlap with Meridia. $30M raise from Chernin Group (same investor as MeatEater) signals thesis around vertical outdoor media/data platforms.
Sources:
Surf Tourism Market
| Metric | Value |
|---|---|
| Global surf tourism (2024) | $68.3B |
| Projected (2030) | $95.9B |
| CAGR | 6% |
Sources:
CLIMBING / MOUNTAINEERING
57hours
| Metric | Value | Year |
|---|---|---|
| Adventures listed | 1,345+ | 2025 |
| Certified guides | 1,000+ | 2025 |
| Countries | 53+ | 2025 |
| Total funding | $4.3M (2 rounds) | Through 2022 |
| Lead investor | South Central Ventures | |
| Top guide service revenue | $500K/year | 2022 |
| Business model | Marketplace commission on guided bookings |
Key insight: Early-stage but proving the model for guided outdoor adventure booking. Expanding beyond climbing into hiking, cycling, backcountry skiing, sailing.
Sources:
CYCLING
Market (no dominant single platform)
Major guided cycling operators include Backroads (founded 1979), Trek Travel (20+ years), DuVine, Intrepid Travel, G Adventures. No single marketplace has aggregated the supply side -- operators run their own booking. This is fragmented like fishing pre-FishingBooker.
| Metric | Value |
|---|---|
| Global cycle tourism (2025) | $135B |
| Projected (2030) | $234B |
| CAGR | 9.8-9.9% |
Sources:
HORSEBACK / EQUESTRIAN
Market (fragmented, no dominant platform)
Key players:
- BookHorseRidingHolidays.com -- 505 vacations worldwide, reviews + price comparison
- Globetrotting -- curated, staff-tested rides
- Equitours -- 40+ years operating
- HorseXplore -- European-focused marketplace
- Hidden Trails -- worldwide horseback booking
No single platform has scaled to marketplace dominance. Mostly tour operator model with direct booking.
Source: BookHorseRidingHolidays
BIRDING / WILDLIFE
Market (massive, no dedicated booking platform)
| Metric | Value |
|---|---|
| Birdwatching tourism (2023) | $62.7B |
| Projected (2029) | $89.7B |
| CAGR | 6.1% |
| US birdwatchers | 96M participants (2022) |
| US birding trip spending | $17.3B annually |
| US birding economic contribution | $41B |
Key insight: Massive market with NO dedicated booking platform. eBird (Cornell Lab) is the data layer (species sightings) but has no booking. Tour operators (Rockjumper, Naturalist Journeys, etc.) run independent sites. This is a wide-open vertical.
Sources:
FISHING (Meridia's TAM)
Fishing Tourism Market
| Metric | Value |
|---|---|
| Global fishing tourism (2025) | $89.8B |
| Projected (2035) | $252.7B |
| CAGR | 10.9% |
| US recreational fishing industry revenue | ~$6B (2024) |
Sources:
CAMPING / GLAMPING
Hipcamp
| Metric | Value | Year |
|---|---|---|
| Listings | 565,000 campsites (doubled May 2025) | 2025 |
| Countries | 6 (US, Canada, Australia, NZ, UK, France) | 2025 |
| Funding | $98.6M total (Series C: $57M at $300M valuation) | 2021 |
| Investors | a16z, Benchmark, Index Ventures, Bond Capital | |
| Employees | ~173 | 2025 |
| Revenue | Estimated $25–100M (private) | |
| Business model | 15% host commission + guest service fee | |
| Key moves | Acquired BookOutdoors (Oct 2024); REI + AllTrails partnerships | 2025 |
Sources: PitchBook, Contrary Research, Skift
The Dyrt
| Metric | Value | Year |
|---|---|---|
| Reviews/content | 8M+ crowdsourced reviews across US campgrounds | 2025 |
| Traffic | 30M annual website visits | 2025 |
| Funding | $11M total | 2021 |
| Business model | Freemium — The Dyrt Pro $30–36/yr (offline maps, 40% discount camping at 1,000+ partner campgrounds) | |
| Position | Largest consumer subscription software for campers in the US |
Sources: The Tilt, Denver Post
Campspot
| Metric | Value | Year |
|---|---|---|
| Parks on platform | 2,800+ parks; 1,000+ on management SaaS | 2025 |
| Reservations | 3.7M reservations, 54M site nights | 2025 |
| Revenue through platform | ~$90M | 2025 |
| New campers introduced | 127,000+ via marketplace | 2025 |
| Funding | PE-backed (Vertica Capital Partners) | 2025 |
| Business model | B2B2C — SaaS for campgrounds + consumer marketplace with dynamic pricing |
Sources: Modern Campground
Recreation.gov (Federal)
| Metric | Value | Year |
|---|---|---|
| Facilities | 3,600+ facilities, 103,000+ sites, 90,000+ experiences | 2024 |
| Bookings | 11M reservations/year (up from 3.5M in FY2019) | FY2024 |
| Revenue | $321M+ generated for federal government | FY2024 |
| Traffic | 53M+ site visitors | FY2024 |
Sources: U.S. DOI, Booz Allen
Under Canvas (Glamping)
| Metric | Value | Year |
|---|---|---|
| Revenue | $115.1M | 2024 |
| Locations | 13 safari-tent properties near national parks | 2025 |
| Funding | $89.1M total; $50M capex in 2025 | |
| Ownership | KSL Capital Partners (>$100M majority stake) | 2018 |
Sources: Inc., PR Newswire
Camping Market Size
| Metric | Value |
|---|---|
| US camping market (2025) | $27.87B |
| US camping participants | 175.8M |
| Camper local spending | $49B annually |
| CAGR | 7.3% (2025–2030) |
| Global glamping market (2024) | $2.3–3.8B, projected $5.2–7.9B by 2031–2034 |
Sources: Statista, KOA 2025 Report
Tentrr — Cautionary Tale
Raised $18–28M, peaked at 1,000+ properties in 43 states. Over-expanded on COVID demand. Filed Chapter 11 (Jan 2023), converted to Chapter 7 liquidation. Fully shut down Dec 2023. Lesson: quality control + unit economics matter more than growth.
WELLNESS / RETREATS
BookRetreats.com
| Metric | Value |
|---|---|
| Listings | 1,000s of retreats in 100+ countries |
| Revenue | $1–7M (estimated) |
| Business model | 15% commission |
| Market size | $222.5B globally (wellness retreats, 2025) |
SAFARIS / WILDLIFE
SafariBookings.com
| Metric | Value |
|---|---|
| Revenue | $5.1M (2025) |
| Tours listed | 16,323 |
| Operators | 1,859 |
| Reviews | 159,572 |
| Position | World's largest African safari marketplace |
WHITEWATER / RAFTING
- Global market: $2.0B (2024), projected $3.5B by 2032 (7% CAGR)
- No dominant vertical marketplace. Operators use horizontal booking software (TripWorks, Peek Pro) or list on Viator/GetYourGuide
- Completely fragmented
VERTICALS WITH ZERO AGGREGATION
These outdoor experience verticals have NO vertical booking platform at all:
- Fly-in fishing/hunting (Alaska bush planes, $3K–15K+ packages)
- Dog sledding / Snowmobiling / ATV tours
- Motorsport / Driving experiences ($300–2,000+ per experience)
- Skydiving / Paragliding
- Photography tours
- Cycling tours ($135B market!)
- Horseback / Equestrian
Summary Comp Table (Pitch Deck Ready)
| Vertical | Platform | Revenue/GMV | Supply Side | Demand Side | Funding | Market Size |
|---|---|---|---|---|---|---|
| Golf | GolfNow | $1B+ GMV to courses | 9,000 courses / 52 countries | 3.5M users, 40M rounds/yr | Comcast/Versant | $27B |
| Skiing | Epic Pass (Vail) | $1B pass rev / $2.96B total | 42 owned + 90 accessible | 2.3M passholders | Public (MTN) | $27B |
| Skiing | Ikon Pass (Alterra) | ~$550M EBITDA | 18 owned + 50 accessible | Undisclosed | $7B EV (private) | $27B |
| Diving | PADI Travel | 40% booking growth | 1,100 shops / 80+ countries | 30M+ certified divers | Private | $5–20B |
| Camping | Hipcamp | Est. $25–100M | 565K campsites / 6 countries | — | $98.6M (a16z, Benchmark) | $27.9B |
| Camping | Campspot | ~$90M through platform | 2,800 parks | 3.7M reservations/yr | PE-backed | $27.9B |
| Camping | Recreation.gov | $321M to fed govt | 103K sites | 11M bookings/yr | Federal (Booz Allen) | $27.9B |
| Glamping | Under Canvas | $115.1M | 13 owned locations | — | $89.1M (KSL Capital) | $2.3–3.8B |
| Hunting | BookYourHunt | Bootstrapped | 820 outfitters / 58 countries | 1M+ visitors/yr | Bootstrapped | $26.8B |
| Hunting | MeatEater | $100M+ rev | Media + commerce | Millions of fans | $50M (TCG) | $667M (tourism) |
| Boating | GetMyBoat | ~$160M rev | 150K listings / 180 countries | — | $35.8M | $9–14B |
| Surfing | Surfline | $6.6M/yr (est.) | Data/forecast + travel | 3M+ users | $30–43M (TCG) | $68B |
| Climbing | 57hours | Early stage | 1,000+ guides / 53 countries | — | $4.3M | — |
| Safaris | SafariBookings | $5.1M | 1,859 operators | — | — | — |
| Wellness | BookRetreats | $1–7M (est.) | 1,000s of retreats / 100+ countries | — | — | $222.5B |
| Cycling | (Fragmented) | — | Backroads, Trek Travel | — | — | $135B |
| Birding | (No platform) | — | — | 96M US participants | — | $63B |
| Fishing | FishingBooker | ~$28M+ (est.) | 8,700 captains / 110 countries | 3.4M users | $60K | $89.8B |
| Fishing | Meridia (ours) | TBD | Guides, lodges, experiences | 57.9M US anglers | TBD | $89.8B |
Key Takeaways for Pitch Deck
Every high-value outdoor vertical has (or is getting) a dominant booking platform. Golf has GolfNow. Skiing has Epic/Ikon. Diving has PADI Travel. Camping has Hipcamp + Campspot. Hunting has BookYourHunt. Boating has GetMyBoat. Fishing is the largest underserved vertical.
The pattern is consistent: aggregate fragmented supply (guides, lodges, outfitters), build demand-side network effects, then layer on SaaS tools, subscriptions, and content.
Fishing tourism at $89.8B is larger than golf ($27B), ski ($27B), and dive ($5–20B) tourism COMBINED. Yet there is no dominant vertical booking platform at the scale of GolfNow or Epic Pass.
Revenue models converge: Marketplace commission (BookYourHunt, GetMyBoat, 57hours, FishingBooker) → Add SaaS for supply side (GolfNow, Campspot) → Add subscription for demand (GolfPass, Surfline Premium, Epic Pass, The Dyrt Pro).
Investor thesis is proven: TCG invested in both Surfline ($30M) and MeatEater ($50M). a16z + Benchmark backed Hipcamp ($98.6M). KSL valued Alterra at $7B and backs Under Canvas ($115M revenue). Vail is a $10B+ public company. GetMyBoat hit $160M revenue.
Fragmented verticals = opportunity: Cycling ($135B), birding ($63B), wellness retreats ($222.5B), whitewater ($2B), and all the zero-aggregation verticals remain wide open.