Although private jet travel has long been thought of as a luxury reserved only for the rich and famous, JetSmarter has opened up to the market to reach beyond the 1%. At just 28-years-young, Sergey Petrossov sits proudly at the helm of JetSmarter as its founder. His motto? “When you go all-in as an entrepreneur, you don’t look back.”
And let’s face it, Petrossov has a lot of brag about. In December 2016 alone, his innovative company raised a total of $105 million from investors. And these weren’t just any investors, but a string of highly impressive ones, ranging from the Saudi royal family to Shawn “Jay Z” Carter.
So what exactly is JetSmarter? It’s a private jet marketplace packaged as an app, based in Fort Lauderdale, and with a valuation over $1.5 billion, making it a ‘unicorn’ within the venture capital scene. The goal of the app is to make private jet booking simple and affordable. This high level of success makes one wonder exactly how Sergey Petrossov managed to achieve all this at such a young age.
According to Sergey Petrossov, the inspiration for JetSmarter struck him in 2009 when he was pondering inefficiencies in airline travel. Upon trying to book a private flight for him and his friends, he encountered a lot of paperwork and run around. Of course, he thought, there must be an easier way!
After thinking up creative solutions, Petrossov realized that he had found a way to allow more people to fly privately, which not only yields a more comfortable flight overall but also allows travelers to skip through long TSA lines and avoid commercial airports altogether.
In just it’s first two years, JetSmarter had already been downloaded over 300,000 times, and Sergey notes that the average price of a chartered flight is around $23,000. Over 1,000 flights were booked in 2014. Of his success so far, Petrossov says that he and his team feel they are ahead of the curve in terms of their product’s innovation and they are looking forward to dominating in this space. He certainly feels like a pioneer!