We used this funding to expand our JetShuttle offerings and continue to expand globally. Jetsmarter, The Uber For Private Jets Is Facing Lawsuits And Experienced Entrepreneur. What was your vision for the mobile app? Sergey Brin - Forbes https://money.com/jetsmarter-uber-private-jets-ceo/. How do you source your planes, staff and pilots? The buyer of the Lauderdale-based company that provides an Uber-for-jets service is Dubai-based Vista Global, Bloomberg reported this morning. Their lawsuit included a text message from a JetSmarter sales representative promising free flights they allege were never provided. In 2012, I spoke to the carriers I had established relationships with and discussed how large of an impact an app to charter a private plane would have on the industry. Jul 10, . Ultimately, JetSmarter allows those with a lower net worth the ability to book private flights. By 2009, Sergey Petrov was the 51st richest businessman in Russia, according to Forbes magazine. What are JetSmarters expansion plans for the future? Airplanes could fly five to seven times more if they were efficiently run, he said. Sergey Petrossov, Jetsmarter Inc: Profile and Biography Thanks for reading! The planes werent being utilized enough. Instead, his focus is on creating a world-class, hospitality-driven experience. JetSmarter was losing about $22,000 on a shuttle flight between Los Angeles and New York. Noting that this was the only travel and transportation market that had not gone digital, Petrossov had his A-ha! moment. As an entrepreneur, Petrossov focuses heavily on two things: maintaining his professional network and building a trustworthy, relatable brand and story. Many private jets flying the friendly skies are empty or nearly so. He sees his app as not a premium product, but rather as providing value to consumers. Sergey Petrossovs solid work ethic and drive to succeed as an entrepreneur has been evident since high school when he founded his first business: a tire rim import/export company for luxury cars. In high school, he attempted to start an import-export business for automobile tire rims. [9], In June 2015, JetSmarter announced its new European headquarters in Zurich, Switzerland. Sergey Petrov - Player profile 22/23 | Transfermarkt I moved to South Florida when I was 11 or 12. Sergey Petrossov. By this time, however, he no longer practiced business. Language links are at the top of the page across from the title. The world's 12 wealthiest people got richer by $36 billion in a day - and have now gained $264 billion in net worth this year. Google [x], Rapid Evaluation Program Manager. This tailored approach seems to be working. I knew then that I wanted to start companies and tech was the field I wanted to be involved in. After testing proved successful, Petrossov sought and received substantial venture funding to expand JetSmarter's scope. People are becoming more and more interested in Sergey Petrossov because of how much money he makes. Sergey Petrossov's Sky-High Ambitions - Yahoo Finance Jay-Z's Private Jet Startup "JetSmarter" Just Raised $105 Million In Series C Funding, Jay-Z And Saudi Royalty Invest In 'Uber For Private Jets' App. When youre young, those are the years you can take the most risks. Primary Menu Sections. In 2004, Petrov stepped down as president of his company to take up politics. It supported chat for audio and video for website customer service. Were currently partnered with 800+ carriers across the globe, who work with our team to provide our app users with around 3,200 aircraft and 4,000 free flight hours each month. [20][21][22], In August 2017, JetSmarter said it had raised an undisclosed amount of institutional capital from Clearlake Capital, Leucadia National Corporation and existing investors. Barsky had been the companys CFO before being promoted to president in January 2016, and his replacement as CFO, Joey Epstein, stayed just 10 months, before departing in October, according to his LinkedIn profile. The question was: How was JetSmarter making ANY money off their flights? Many companies featured on Money advertise with us. National team caps and goals, correct as of 19 November 2019. Sergey Petrossov - Board Advisor @ Vista Global - CrunchBase During his research, he also discovered that about 70 percent of all private jets were empty and the majority of their flight hours were spent traveling to pick up the next passenger, not flying the passenger themselves. Private jet travel is more accessible than people think. Like Uber, Lyft, and AirBnb, who don't own the cars or properties they peddle, JetSmarter does not own the planes. A G4 costs more than $6,000 per hour to fly. Support. We are continually looking at ways and means to expand our offerings within the region, and globally. The flights Horchow took were a fraction of the cost of other private jet companies. With the price point and appeal of the luxury experience, the private aviation industry will grow enormously. As Galvez told CNBC: "My heart dropped. It turned out that flight wasn't free as promised. In March 2013, JetSmarter launched globally. A Luxury Guide to a Long Weekend in Istanbul, Sjefke Jansen on His New Role as GM of Anantara Kihavah, Le Commandant Charcot: The Worlds Only Luxury Icebreaker, The McLaren Paddock Club: Feel the Beating Heart of Formula 1. Some flights have security dogs inspecting bags, but many have no security checks at all. Unique services offered by JetSmarter include the option of booking free seats on scheduled shuttle routes or creating shuttles between certain cities, free flights to new destinations daily from members favorite cities and real-time private jet booking with guaranteed availability in more than 170 countries. Get an inside vue on the latest in luxury. Its been a wild few months for Sergey Petrossov, the 28-year-old founder and CEO of JetSmarter, which hopes to be the Uber of private jet service and has gained high-profile investors like the Saudi Royal Family and Jay Z. I knew then that I wanted to start companies and tech was the field I wanted to be involved in. The main difference between JetSmarter and its close competitors is that JetSmarter gives members the flexibility to create flights on their time or find seats on flights created by fellow members all with the year-round reliability, efficiency, and service that are synonymous with flying private. JetSmarter has essentially redefined the entire industry with one, clear mission: to reimagine aviation as it was meant to be. [31][32] The hardest thing for a disruptive company is getting people to try it out. We are continually looking at ways and means to expand our offerings within the region, and globally. Top 3 Mistakes Car Buyers Make During Lockdown - LinkedIn I agree to Money's Terms of Use and Privacy Notice and consent to the processing of my personal information. Also, the mass affluent are looking for experiences tailored to the lifestyle they want to live. He decided to organize planes in a digital fashion with high utilization and a lower cost of entry.. Americas +1 212 318 2000. Its not always about price, he said, noting that the company currently has 8,000 members and transports 20,000 people a month. There are approximately 22,000 private flights every single day in the United States, and one-third of them are empty. Does that sound familiar? [15], On June 27, 2019, Vista Global announced it had combined JetSmarter with its XOJET subsidiary rebranding the combined entity as XO, powered by JetSmarter technology. The partners that we have cover a large number of international destinations, to enable our customers to be able to fly worldwide within as little as six hours from booking their flight. Were still educating. TAGS:AIRPLANEAVIATIONFLYFLYINGJETJET SMARTERLUXURYPRIVATE. Instead it acts as a middleman between private jets and passengers looking for seats. Today the company -- which bills itself as the Uber for private jets -- has 14,000 paid members paying up to $15,000 a year for perks that include the ability to schedule flights and share seats on jets scheduled by others. Lets meet them, AirOps raises $7M to bring the power of AI to the workplace, Tech Talent Coalition workgroup aims to expand training and hiring opportunities for our local diverse talent, Say goodbye to in-person tours: Check out a home for sale from the comfort of metaverse startup Propyverse, At packed Venture Miami Tech Hiring Fair, breadth and depth of Miami movement on full display. Our goal is to one day make all air travel private. There are 4 professionals named "Sergey Petrossov", who use LinkedIn to exchange information, ideas, and opportunities. . Jet Life: Sergey Petrossov - LinkedIn There are also concerns over security. [40], In January 2019, CNBC aired an investigative report on JetSmarter, titled "Tailspin", stating that "JetSmarter tried to be the Uber of private jets, now it faces lawsuits, losses and security questions". JetSmarter was the first "flying unicorn," with a valuation of more than $1 billion. www.vistaglobal.com. VUE caught up with Petrossov to learn more about his journey, the future of the industry and perhaps a tip or two on how to turn a simple vision into a billion-dollar reality. Utilizing his previous experience co-founding two IT companies and serving as a board advisor to a private jet operator based in South Florida, Petrossov created a user-friendly app allowing travelers to order flights with top-rated private jet operators. Bachelor of Arts/Science, University of Florida, Russias top diplomat said Carlsons departure from Fox means the wealth of views in the American information space has suffered.. Petrossov launched the JetSmarter app back in 2013 and never looked back, its even been referred to by some as Uber for private jets, moving more passengers annually than anyone in the industry. In 2009 when I began flying private, I quickly came to realize that the private jet industry was very archaic; its brick-and-mortar process of picking up the phone, waiting hours and speaking to numerous different people in order to charter a jet was outdated and inconvenient. We plan to continue our global expansion, and were currently focusing on expanding in the countries where there is enough supply to satisfy demand, and are continuing to partner with carriers across the globe to offer users more inventory daily. Offers may be subject to change without notice. Awarded Forbes 30 Under 30 in Consumer Technology, Petrossov is an entrepreneur by trade and has taken JetSmarter to heights no one would have imagined no one but himself, of course. The main reason I was interested in Torossian's employment as a PR agent for Turkey is that there was a similar situation with Barry Zorthian, who worked from Oct. 1980 to February 1984 for the lobbying firm of Gray and Co., hired . [13], On September 5, 2018, a JetSmarter shared charter flight from Las Vegas to New York had to make an emergency landing in North Platte, Nebraska, after a passenger threatened other passengers and the crew. From 2007 to 2015, he served as a State Duma deputy from "Just Russia" (though he never actually joined the . JetSmarter was a corporation and mobile application for private jet users. Dorado, PR 00646, Metro Office Park He says the company has annual revenues of over $200 million, meaning its top customers probably represent about two-thirds of its revenues. There was no digital form in accessing it. JetSmarter has not been without its hiccups. Year: Net Worth: 2019: $19 Million : 2020: $19.5 Million: 2021: If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. In terms of our marketing strategy, our business wouldnt exist without word-of-mouth. The aim of the mobile app is to make travel fun, easy and convenient for our members. Remember! But when you present all the pros, you save a significant amount of money. As he points out, members are still able to choose an airport and time, and other users can opt in for the excursion. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and (except on the iOS app) to show you relevant ads (including professional and job ads) on and off LinkedIn. She flew across the country in a Gulfstream IV 13 times. According to a recent investigation by Forbes and Business Insider, Sergey Petrossov estimated net worth is more than a couple of million USD, according to the publication. What's next? In 2009 when I began flying private, I quickly came to realize that the private jet industry was very archaic; its brick-and-mortar process of picking up the phone, waiting hours and speaking to numerous different people in order to charter a jet was outdated and inconvenient. Is this another Elizabeth Holmes or Billy McFarland situation or did JetSmarter expand too quickly? ", "JetSmarter faces lawsuits, losses and security questions", https://en.wikipedia.org/w/index.php?title=JetSmarter&oldid=1149578250, Companies based in Fort Lauderdale, Florida, Ridesharing companies of the United States, All Wikipedia articles written in American English, Creative Commons Attribution-ShareAlike License 3.0, Sergey Petrossov (CEO), Gennady Barsky (President). Or will JetSmarter go down in the annals of history as another good idea that was unable to be realized by its under experienced founder and CEO? JetSmarter aggregates. Submit a correction suggestion and help us fix it! Sergey Petrossov | New York Post Serge y Petrossov is the founder and CEO of JetSmarter Charter a flight with the tap of an app - Sun Sentinel Members who pay $9,000 a year, for instance, can get cheaper deals, whilst travellers can charter an aircraft and share the cost with others who seek the same itinerary. One day in 2009, he and some of his friends were given the opportunity to fly on a private plane, but the only way to book that flight was by calling the company directly and talking to a dispatcher, who then sent them a physical invoice to sign and fax back to the company. Sergey Petrossov, CEO of JetSmarter | Financial Times Many customers reported that they had planes entirely to themselves. Whats your marketing strategy? Petrossov talked to us about how he founded his company, the struggles of building it, where he hopes it goes, and his tips for being a successful young entrepreneur. In 10 years, I think theres a big opportunity as you move into shorter-distance flights where we can actually deliver a much broader, mass-market solution, where you can actually serve customers at $500 a seat, he says. How Sergey Petrossov, JetSmarter's Founder and CEO, is Revolutionizing I moved to South Florida when I was 11 or 12. Your education and upbringing? He spends some days speaking with stakeholders while other days are spent meeting clients demands. Similar to advertising, if a company or executive are shown in a negative light, the product they are selling will likely suffer. There is no such thing as a typical day for Petrossov. He was charged with five counts of grand theft by embezzlement by authorities in Contra Costa, California. Before JetSmarter, he cofounded an educational startup that sold cloud-based software for schools and universities in Eastern Europe and Russia, countries that couldnt afford legacy systems. Aviation, he adds, was my side hobby.. She was told the membership included free flights under three and a half hours, a discount on longer flights, and the potential to bring up to three guests. JetSmarter declined to comment on CNBC's inquiries, but said in a statement that "changes to our member services and benefits were within the rights of our membership agreement." He noted that the company had recently added access to 8,000 luxury homes (and villas) to its system. I fly three or four times a month, usually three domestic flights and one international flight, said Petrossov. With businesses like Uber becoming the norm, how do you see the private aviation industry changing in the near future? [38], In August 2018, a Los Angeles-based former member of JetSmarter filed a lawsuit seeking at least $2 million in damages from JetSmarter after the company refused to renew his membership. Partnerships included Pernod Ricard,[33] Vertis Aviation,[34] and SportStar Relocation. Because you cant when youre older., His other tip, which hes put to use himself, is simple. What began as an idea in 2012 has now become the worlds largest private aviation travel and lifestyle community. Vista Global, owner of VistaJet and XOJET, will immediately benefit from JetSmarters industry-leading technology platform that will ease the booking process for VistaJet customers, according to a Forbes report.
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