Jay Z Backed "Uber For Private Jets" Company Raises $105 Million

Photo courtesy of AP Photo

Written by Mike Orie of TheConsciousTip.com
Have you heard of Jet Smarter?

A Jay Z backed "Uber for private jets" company has raised an additional $105 million in funding. Sergey Petrossov, the company's CEO says Jet Smarter has raised the funds in Series C funding, at a $1.5 billion pre-money valuation to build its marketplace for private jet services.

According to Tech Crunch, "members of the Saudi royal family, and hip hop icon and entrepreneur Shawn 'Jay Z' Carter, earlier backers of Jet Smarter increased their investments in the startup with this round."

To become a member of Jet Smarter, members go through a light background check and then pay $15,000 to become a core member for the first year. Members are then allowed a seat on the company's wide-selection of flights for free, but would pay an additional fee for a companion ticket.

Jet Smarter app becomes "Uber for private jets"

Jet Smarter is currently available in 50 markets worldwide, including cities such as London, Paris, Las Vegas, Atlanta, Chicago, Moscow, Dubai, New York and Fort Lauderdale. The company plans to reach 80 to 100 markets by the end of 2017. New cities would including connection flights from Florida to cities such as Washington D.C., Boston and more.

Similar to Uber, the company doesn't own any planes, but works with various carriers, operators and owners to provide the service. You can learn more about the app here.

What are your thoughts on the new Jay Z backed concept Jet Smarter?

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Mike "Orie" Mosley is a freelance writer/photographer and cultural advocate from St. Louis. He holds a Bachelor of Arts in Arts, Entertainment & Media Management from Columbia College Chicago and a Masters in Higher Education Administration from LSU. He is also the co-founder of music and culture website www.theconscioustip.com. In his spare time, he's probably listening to hip hop & neo soul music, hitting up brunch or caught up in deep conversations about Black music. You can follow him on Twitter @mike_orie or on Instagram @mikeorie


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