Jay Z invests in 'Uber for private jets' app that lets you book executive plane in seconds

A Jay Z-funded app, set to become the Uber for planes, has just raised $20 million to expand its service. Jetsmart, an app built by 27-year-old entrepreneur Sergey Petrossev, claims to let anyone book a flight on a private jet in a matter of seconds.

'I started the company out of a frustration with the process,' Petrossev said. 'I kept thinking to myself, 'Why hasn't this service been brought into the digital world?''

High profile investors included Jay Z and the Saudi Royal Family. The amount they have invested remains undisclosed. 

The funding will go to expanding routes and buying up more flights from carriers, the company said

The company has three different products; JetDeals, JetShuttle and JetCharter.

JetDeals involves booking a one-way private flight on demand, while JetShuttle anyone to get a seat on a pre-scheduled private flight.

JetCharter, meanwhile, lets customers pick out private, customers travel packages that can be completely customised by route and aircraft.

Members pay $9,000 to get access to wholesale rates on charters, free JetDeals and a free seat on JetShuttle flights.

The average JetSmarter member is tech-savvy, aged between 25 and 50 and earns at least ($1 millio) a year, according to Petrossev.

 

Some of the most popular routes include the 'Golden Triangle' between Miami, New York and Los Angeles.

But almost anything is possible. JetSmarter once received a request to transport a tonne of gold between South America and Europe.

Speaking to Bloomberg TV last year, Petrossov said: 'JetSmarter is an app that you can go on and access the entire inventory of private aircraft around the world.

'There are more than 3,000 aeroplanes on our app; it's literally as easy as putting in your itinerary, you pick the exact aircraft that you want, you see real photographs all amenities, insurance information and safety history.

'You press 'book,' put in your credit card, it's all cashless, paperless, people say 'wow', they can't believe you can book a private jet through an app.'

The airplanes detailed in the app are controlled by vendors, which JetSmarter connect to via GPS to work out scheduling.

'People fly private so they don't have to go through the airport,' Petrossov told Business Insider.

'You can show up five minutes before the flight, park your car right next to the jet, and then just get on your flight,' Petrossov said.

A free helicopter ride will even be offered from the airport to take you to your hotel.

 

Source: Business Insider