After the success of Uber, the on-demand Taxi app, entrepreneur Sergey Petrossov has taken the next logical step – and launched JetSmarter, a similar service for private jets.
For those that are lucky enough consider flying by jet an option, the process is difficult to organise and very costly. Sergey Petrossov wanted to simplify that process, so he built the JetSmarter app to make it easy for anyone to book a flight on a private jet in a matter of seconds.
“I started the company out of a frustration with the process,” Petrossov told Business Insider in an interview. “I kept thinking to myself, ‘Why hasn’t this service been brought into the digital world?'”
“Essentially it works like an airline, except you go through private carriers,” he continues. “There’s no going through security, you just pull up to a private plane five minutes before you take off and go.”
There are currently three tiers to his new business, ensuring that he meets the needs of every potential customer: JetDeals, which involves booking a one-way private flight on demand; JetShuttle, which allows you to book a seat on a previously scheduled private flight; and JetCharter, which offers completely customized private jet packages.
Unsurprisingly, the costs involved for members wishing to use the service are not cheap. JetSmarter members pay $9,000 a year — roughly $800 a month — to get unlimited access to private flights.
The new app has been funded by some high-profile names, both of which are no strangers to the private jet industry. Petrossov obtained $20 million in Series B funding from The Saudi Royal Family and rapper Jay-Z. He has also sought financing from executives at Goldman Sachs and Twitter.
However, JetSmarter is not the first of its kind. Another similar app, Blackjet, went bust in 2013 due to lack of capital; whilst Petrossov’s company seems to be on track for success, the private jet market is not an easy one to crack.