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July 24, 2015

Uber for Private Jets Attracts Big Investors

By Zahra Al-Kateb

By Zahra Al-Kateb

Image Credit: JetSmarter

JetSmarter CEO Sergey Petrossov. Image Credit: JetSmarter

JetSmarter, the app that works like Uber for private jets, has attracted investors from across the globe raising an impressive $20 million. According to sources members of the Saudi Royal Family and music mogul Jay-Z are said to be some of the leading investors.

The app, built by 27-year-old investor Sergey Petrossov allows you to book a flight in seconds and aims to modernize the booking process by eliminating the middle man to provide a quick and efficient service. Customers can request, fly and play via their mobile phone and are able to choose between over 3,000 aircrafts worldwide allowing them to hail a private jet within seconds.

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Image Credit: JetSmarter

The company offers three different services: JetDeals, which allows users to book one way private flights on demand, JetShuttle, which allows users to book seats on previously scheduled private flights and JetCharter, a service which offers private travel packages that are completely customizable from aircraft to route. To gain unlimited access to private flights users pay $9,000 a year.

Petrossov told Business Insider “I started the company out of a frustration with the booking process. I kept thinking to myself, ‘why hasn’t this service been brought into the digital world?’”

He also said: “what was unique about this fund raise is that we didn’t have to go out and seek investors. Our investors were already users.”

The latest investment will go towards expanding routes and purchasing additional flights from carries. The company also hopes to expand their office operations in Asia and South America.

 

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