Sergey Petrossov is a twenty-eight-year-old Chief Executive Officer of JetSmarter, a transportation marketplace located in Fort Lauderdale, and launched in 2013. As an entrepreneur who has been there and done that, he starts by saying that when it comes to running a startup business, you have no option but to make sure that you go all in. It is the only way to guarantee that you will not experience cold feet along the way or look back at what you should have done.
December 2016 saw the private jet transportation company based out of Fort Lauderdale announcing that it had managed to raise more than one hundred and five million dollars. According to Sergey Petrossov, the sum raised that year was from both new and existing investors. Some of these investors included celebrity mogul “Jay Z” and some members of the Saudi royal family. By March 2017, JetSmarter had an overall valuation of $1.5 billion. In the world of venture capitalists, this is what is called a ‘unicorn’.
This is because it is extremely rare to come across a private company that has a valuation of more than $1 billion. Looking back, Sergey Petrossov stated that in 2015, his firm did not have more than fifty people on the payroll. Many of the cities currently being serviced were launched a year later in 2016. This was what set off the massive hiring that has been taking place all over the world. By mid-2017, the private jet company stated that it had more than 260 members of staff.
Increased personnel members have also meant that the company is now able to reach more destinations than it did when it started. For instance, it now flies into cities in the Middle East, Europe, and in the United States. There are plans underway to have it start making flights to cities in South America, China, and India. Apart from the corporate offices in Fort Lauderdale where it has its headquarters, it also has offices in other locations such as Saudi Arabia, London, Moscow, Zurich, and Dubai. Its clients can choose to create a shared jet, travel on a private jet, or even charter an entire jet.