JetSmarter
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| Private | |
| Industry | Transportation, Aviation |
| Founded | November 2012 |
| Founder | Sergey Petrossov |
| Headquarters | Fort Lauderdale, Florida, United States |
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Area served
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Worldwide |
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Key people
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| Services | Mobile application, flight sharing, aircraft for hire |
| Website | jetsmarter |
JetSmarter is a mobile marketplace for private jet charter that operates globally and is headquartered in Fort Lauderdale, Florida. The company uses a smart phone application to connect passengers and air carriers to chartered flights. Over 3,000 aircraft are available for booking through JetSmarter's mobile app.
JetSmarter was founded in 2012 by entrepreneur Sergey Petrossov, whose idea made him one of Forbes' 30 under 30 business leaders of 2016. In August 2012, the beta-version was launched and tested among a closed group of private aviation users. After testing proved successful, Petrossov sought and received substantial venture funding to expand JetSmarter's scope.
In March 2013, the JetSmarter app was launched and made available to the general public on both iOS and Android devices.
In June 2015, JetSmarter announced its new European Headquarters in Zurich, Switzerland. In early 2016, it launched flights between Europe. According to Business Insider and TechCrunch JetSmarter has raised $20 million from the Saudi Royal Family, American rapper Jay-Z, American serial entrepreneur and investor Wayne Chang, and investment bank Goldman Sachs Capital Partners. In total, Jetsmarter raised $56 million since its inception and has offices in Zürich, London, Moscow, Dubai, Riyadh and Fort Lauderdale.
In December, 2016, JetSmarter announced it had raised an additional $105 million at a $1.6 billion valuation. The company said this will fuel international expansion and add at least 80 more routes to its existing 50 routes.
In February 2017, Gennady Barsky, a former executive, was arrested on embezzlement charges. The arrest was unrelated to JetSmarter, but about a previous company he was affiliated with. Barsky also served as CFO of JetSmarter before becoming President. He has since resigned the company.
CEO Sergey Petrossov claimed in an interview that its shuttles are now profitable and in May 2017, the company was profitable. He also said its top 1,000 customers (top 10%) spend an average of $140,000 per year with JetSmarter, and the company's renewal rate is 91%. At the same time, the company is the subject of a Class Action lawsuit from a former employee for unpaid overtime filed on June 20.
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Wikipedia