sergey petrossov net worth

In September 2018, on a flight from New York to Las Vegas, 23-year-old DJ Maurice Paola started yelling and threatening to kill other passengers. His advice to millennials like him who want to create companies is to be bold sooner rather than later. A membership model would give the company both regular revenue and enough customers to set it on the road to going public one day. Founder and CEO, JetSmarter Boca Raton, Florida About Sergey Petrossov Sergey wants to change the aviation business by making private flights accessible to the masses. ", "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). JetSmarter was the first "flying unicorn," with a valuation of more than $1 billion. Terms of the transaction were not disclosed. Petrossov was motivated to create companies in his teens We have to do that for the traditional private flyer whos not used to sharing an airplane. In early 2016, it launched flights within Europe. How To Remove Items From Your Credit Report, How To Boost Your Credit Card Approval Odds, Best Pet Insurance Companies of April 2023, Drivers May Soon Get More Money Back From Car Insurance Companies, Non-Fungible Frenzy: Why NFTs Are Suddenly Everywhere. Remember! After paying nearly $90,000 for memberships, they were being told they had to pay more to actually USE their memberships. More from Forbes 30 Under 30 - Consumer Technology 2016 List. 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. JetSmarter aggregates. There is no such thing as a typical day for Petrossov. [CDATA[ Also, today, in the tech age, luxury is transcending past brand to experience. 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. JetSmarters starting point is $17,500, so theyve essentially lowered the entry point for private aviation, allowing many people with a lower net worth to fly privately when they never could before. It's very expensive but worth it to get on a private plane to go somewhere if you've got that kind of money, of course. [30], JetSmarter partnered with various air carriers that span the range of the private charter industry. I love hosting this blog for Refresh Miami and we aim to be the go-to site for South Florida startup and tech news, features and views. It is this small switch in outlook that the customers needs are paramount, that can make a big difference. 7 calle 1, Suite 204 In the private aviation industry, many are familiar with jet cards or fractional jet ownership, where a light to mid-sized jet card can cost one anywhere from $130,000 to $150,000 a year for 25 hours worth of flying. Kim Kardashian, Emily Ratajkowski and David Ortiz were paid to be brand ambassadors. Steven Kreit, a partner at accounting firm EisnerAmper who is in charge of its New York commercial audit and assurance practice, said they should, especially at a unicorn-sized company. 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. How Sergey Petrossov, JetSmarter's Founder and CEO, is Revolutionizing Private Aviation Sergey Petrossov's solid work ethic and drive to succeed as an entrepreneur has been evident since. Sergey Petrossov (@sergey) Instagram photos and videos What was your vision for the mobile app? Work stopped on Bezos' megamansion as his net worth drops by $57B Mass affluent want a one-stop-shop for all three, and thats what we strive to offer. He alleged misleading advertising on social media from Kim Kardashian and Petra Nemcova as well as deceptive sales tactics. As Galvez told CNBC: "My heart dropped. Customers started accusing JetSmarter of bait and switch. 2023 Celebrity Net Worth / All Rights Reserved. JetSmarter has not been without its hiccups. Our partners can use the same app as our customers to manage their inventory in real-time from any mobile device, and fill their flights instantly. I wasnt the founder but since I got involved early they called me a co-founder. The Russian-born Florida resident aims to change the landscape of private aviation by making it more attainable and efficient than ever before. Born in Moscow, Petrossov relocated to the United States with his family at the age of four. In response to positive reviews and the growing popularity of the mobile marketplace, Petrossov made the decision to develop what would come to be known as JetSmarter into a full-fledged business. Some flights have security dogs inspecting bags, but many have no security checks at all. Our average user visits JetSmarter 12 times daily. How Sergey Petrossov, JetSmarter's Founder and CEO, is Revolutionizing Were still in the early days.. JetSmarter CEO Sergey Petrossov Says Ex-President's Arrest Has 'No With investors that include the Saudi royal family and Jay-Z , JetSmarter is valued at $1.5 billion. When they asked for refunds, JetSmarter told them to read the legal disclosures in their membership agreements that said the company could "change, suspend, or terminate any of the services or benefits at any time." JetSmarters starting point is $17,500, so theyve essentially lowered the entry point for private aviation, allowing many people with a lower net worth to fly privately when they never could before. He graduated in 2009. Sergey Petrossov Founder JetSmarter (Acquired) | CEO | Board Member | Entrepreneur | Vista Global Executive Miami-Fort Lauderdale Area 5K followers 500+ connections Join to view profile Vista. What are JetSmarters expansion plans for the future? 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. Ultimately, JetSmarter allows those with a lower net worth the ability to book private flights. 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. He is seeking a refund and damages. And down the road, we want to own premium business travel in the United States, he says. Since JetSmarters launch in 2013, the company has focused on making the booking process as easy as possible JetSmarter is often compared with Uber for how easy it is to book and democratizing private aviation by making it more affordable and accessible. Instead, his focus is on creating a world-class, hospitality-driven experience. Sergey wants to change the aviation business by making private flights accessible to the masses. Instead it acts as a middleman between private jets and passengers looking for seats. Thats the most important thing for entrepreneurs. The company was offering him its "sophisticated membership," which included unlimited, free private jet flights with a companion pass. [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". With JetSmarter, he focuses on how to make air travel more convenient and accessible, but also on how to improve the lifestyles of his members the biggest draw of JetSmarter for a lot of its members is being able to fly privately with other like-minded individuals who place a lot of importance on style and luxury. Sergei Andreyevich Petrov ( Russian: ; born 2 January 1991) is a Russian football player. JetSmarter was losing money hand over fist so it went through three investment rounds to raise. What was your vision for the mobile app? Petrossov's biggest success to date, however . He was told he'd have to pay 75% of the cost of his flight. [10][11] JetSmarter had offices in Zurich, London, Moscow, Dubai, Riyadh, and Fort Lauderdale. // ]]> JetSmarters own Safety Audit Committee analyzes the procedures of all primary operators in the JetSmarter program. [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. Anthony Pompliano Net Worth Phone Number, House Address, Wiki, Ashley Massengill Net Worth | Bio, Family, Address, Career, Atlas Monroe Net Worth | Age, Height, Weight, Dating And More, Beyonce S Net Worth Phone Number, House Address, Wiki, Blue Ivy Net Worth Phone Number, House Address, Wiki. 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. Whats your marketing strategy? JetSmarter told Galvez that if he bought it now, he could get three years for $97,500. Petrossov declined to divulge revenues, but if 8,000 members are paying $15,000 a year that would mean $120 million in annual membership fees alone. Also, the mass affluent are looking for experiences tailored to the lifestyle they want to live. Education After graduating from high school, Petrossov studied finance at the University of Florida. But forJetSmarterFounder and CEO, Sergey Petrossov, its just another day at the office (or in the skies). [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. Dont give up, he says. Codispoti said by email that he joined JetSmarter as CFO in October. People are becoming more and more interested in Sergey Petrossov because of how much money he makes. If a friend says JetSmarter is the best, the trust factor goes up. Petrossov said then he started working on the idea in 2012 as a side project and since then it has been one long hectic ride. Over the years, he also said he hoped to take JetSmarter public. [14], On April 10, 2019, Dubai-based Vista Global said it had made an agreement to acquire JetSmarter adding it to its aviation portfolio, which includes VistaJet and XOJET. JetSmarter Named In Class Action Lawsuit As Its CEO Sergey Petrossov For Petrossov, his vision is one that goes beyond mere name recognition and service. He alleged misleading advertising on social media from Kim Kardashian and Petra Nemcova as well as deceptive sales tactics. While attending the University of Florida, he became involved with his first tech start-up, which lit a passion in him. Basically, they are bullying anyone critical of the company. 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 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. It was also investing a ton of money on marketing and events. 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. Petrossov was shocked at how out-dated the entire booking processes seemed, and he figured that the whole experience could be streamlined via technology. [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. JetSmarter CEO Sergey Petrossov's Sky-High Ambitions JetSmarter has essentially redefined the entire industry with one, clear mission: to reimagine aviation as it was meant to be. Our average user visits JetSmarter 12 times daily. We offer travel experience packages, ranging from experiences with luxury brands like Dom Prignon, to exclusive access to VIP events. Its third round in 2016 raised $105 million and put the valuation of the startup at $1.5 billion. The buyer of the Lauderdale-based company that provides an Uber-for-jets service is Dubai-based Vista Global, Bloomberg reported this morning. We think about three pillars: how you get there, who you meet and where you go. The company held champagne filled parties in Miami, Los Angeles, and New York to attract rich new members. When CNBC contacted former and current employees for their investigation, they received a cease and desist from JetSmarter. I dont know. [39] According to Petrossov, JetSmarter has been downloaded more than 300,000 times since its launch in March 2013, and while he wasn't willing to share very many figures relating to the business, he . JetSmarter bought those seats at a heavy discount and then connected the seats to passengers through their app. To join JetSmarter costs $15,000 a year to gain access, Petrossov said, and members then pay for the flights or other services. When youre young, those are the years you can take the most risks. [CDATA[ brightcove.createExperiences(); View the profiles of professionals named "Sergey Petrossov" on LinkedIn. It projected that membership would grow from 5,839 in 2016 to more than 100,000 in 2019. There are lots of hard times, but I found that, no matter how difficult something is, you should keep falling, and if you keep getting back up and move forward, its virtually impossible to fail unless youre physically incapacitated., That doesnt just apply to him, he adds, but among the great entrepreneurs, it comes back to perseverance. Partnerships included Pernod Ricard,[33] Vertis Aviation,[34] and SportStar Relocation. 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. 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.. JetSmarter was basically throwing cash on the fire and watching it burn. Meet the CEO of JetSmarter, the Uber of Private Jets | Money 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. JetSmarter flight services included a mix of shared and private flights: JetSmarter claimed to offer 3,000 private jets and 2,000 free empty legs per month. Still, despite JetSmarter's aggressive legal bullying, a number of former members have joined a class action lawsuit against the company. For more information visit: www.jetsmarter.com. 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. What began as an idea in 2012 has now become the worlds largest private aviation travel and lifestyle community. It was highly inefficient. They were doing this stuff back in 2005, 2006. She was told she could get three years of sophisticated membership for $87,092 a discount from the already discounted $97,500. The consent submitted will only be used for data processing originating from this website. The first time Sergey Petrossov flew on a private jet in 2009, he was surprised. We spend a lot of time asking members to spread the word. JetSmarters goal is not only to make it easier for people to fly in luxury. Petrossov is most known for founding JetSmarter, a technology company This is just a sample. Petrossov formed relationships in aviation by going to trade shows. Founder @jetsmarter Acquired by @vistaglobalholding Building @flyxo @vistajet. Often called " Uber " for private air travel, JetSmarter enables people to book. Is the CEO of Turkey's Newest U.S. PR Firm Really Armenian? The first beta version of the app was released in August 2012 to a closed group of private jet travelers. Rather than just thinking of ways to improve a service digitally, he tries to focus on how he and his product can improve lives and lifestyles. It is expected to close in the second quarter. 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. You have this multibillion-dollar industry that was completely analogue, he says. Mark Zuckerberg. We offer travel experience packages, ranging from experiences with luxury brands like Dom Prignon, to exclusive access to VIP events. What began as an idea in 2012 has now become the world's largest private aviation travel and lifestyle community. I agree to Money's Terms of Use and Privacy Notice and consent to the processing of my personal information. Sergey Petrossov Net Worth - Phone Number, House Address, Wiki The company has also been known to sue journalists for writing articles critical of the company if they do not take down the article. His goal has always been to have in own company and while still in college, he . We think about three pillars: how you get there, who you meet and where you go. [39] In the same month, JetSmarter agreed to an undisclosed settlement after a New Jersey coupled filed a lawsuit alleging deceptive sales tactics. However, if the person behind the product, and the product itself, has a relatable story and shows potential customers that it offers value, the likelihood of success is higher. The question was: How was JetSmarter making ANY money off their flights? Sergey Petrossov - Facebook In March 2013, JetSmarter launched globally. When JetSmarter debuted, it was touted as a disruptor in the aviation industry. Sergey and Lolita lived in a $2 million house in a gated community in tony Boca Raton, Florida. When I was 18, I wasnt really into college that much I was more interested in getting out of college and I got involved with my first startup. var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); Sergey Petrossov has become the most popular person by his significant works. Airplanes could fly five to seven times more if they were efficiently run, he said. Trial and error drive progress and are at the heart of innovation. (1) *Club domestic league appearances and goals, correct as of 23 April 2023. Its not always about price, he said, noting that the company currently has 8,000 members and transports 20,000 people a month. 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. Founder Sergey Petrossov said in the brokerage industry, "there's very little transparency." With the JetSmarter app, consumers can see the prices anywhere from $5,000 to $600,000 for a . Petrossov has not responded to my request for an interview. What was your background prior to JetSmarter? It also said it had eliminated free shuttles and for new members, it had eliminated free flights under three hours. He initially resided in California and later moved to Florida, where he continues to live today. I moved to South Florida when I was 11 or 12. By clicking "TRY IT", I agree to receive newsletters and promotions from Money and its partners. After the Paola flight, the federal agency is looking into whether the startup is following rules governing commercial versus private aviation flights. Charter a flight with the tap of an app - Sun Sentinel These airplanes are severely under-utilized by flying only 200 hours a year when they could be flying 1,200 hours. It required literally calling to book and signing papers. Our goal is to one day make all air travel private. 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. The flight eventually continued to New York. Empty-leg flight deals, or repositioning flights. We just launched within the app an events and experiences section that allows members to book curated point-to-point experiences that cant be found elsewhere. Petrossov, who was born in Russia but moved to Florida at a young age with his family, struggles to define what has made him hustle through his 20s. The company has a trail of angry customers and at least 13 lawsuits. Save time and get . Its unfortunate, but it has nothing to do with the company, Petrossov told FORBES in a telephone interview. If clients and customers arent happy, the product is doomed to fail, and being at the forefront of what people want and need allows Petrossov to keep his clients and customers happy, setting JetSmarter up for further success. . JetSmarters goal is also to utilize those passenger-free flight hours and fill them. 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.. The entrepreneur who changed how the world sees Russia How Sergey JetSmarter faces lawsuits, losses and security questions - CNBC 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. JetSmarter was founded by Moscow-born Sergey Petrossov, who moved to South Florida as a teen, graduated from the University of Florida and launched JetSmarter in 2012 when he was in his early 20s. In the beginning, JetSmarter bought seats on flights that were empty because they were being moved to another location for a flight originating elsewhere. A few weeks later, Galvez tried to book a JetSmarter flight. 1,302 likes. But for JetSmarter Founder and CEO, Sergey Petrossov, its just another day at the office (or in the skies). The salespeople offered special deals, incentives, and other tactics in what can only be called a "money grab.". The current CFO is Edward Codispoti, who had previously been chief financial officer at TradeStation. Sergey Petrossov, a Young Man with a Big Dream: Sergey Petrossov moved to the U.S. as a young boy, and his family finally settled in Florida. (Epstein declined to comment.). this link is to an external site that may or may not meet accessibility guidelines. Petrossov said that he had added the role of president at the Fort Lauderdale-based companies to his duties as chief executive since Barskys departure. In December, it garnered a giant $105 million round of financing that pushed the private companys valuation to $1.5 billion. When expanded it provides a list of search options that will switch the search inputs to match the current selection. In high school, he attempted to start an import-export business for automobile tire rims. The 12 wealthiest people on the planet grew $36 . Get an inside vue on the latest in luxury. JetSmarter aggregates prices and availability from hundreds of aviation companies and sells flights in a variety of ways. JetSmarter - Wikipedia And, if they want, they can book a fully private flight, which comes with a higher cost. He is a Forbes-ranked billionaire, with an estimated net worth of $2.3 billion. Thank you for subscribing to Elite Traveler. Additionally, JetSmarter partners exclusively with operators that carry a Wyvern Wingman or ARG/US Gold or Platinum safety rating, viewable in the app along with each aircrafts liability insurance. I am a writer and editor with extensive media experience and a passion for journalism and serving the community. By enabling guests to travel to over 170 countries worldwide, JetSmarter is often referred to as a country club in the air.. The report included a video of a JetSmarter flight that was diverted by a passenger making terroristic threats.[41]. In August 2012, I made it a reality and created the beta version of JetSmarter, sharing it with an exclusive group of industry experts and frequent private jet users. He decided to organize planes in a digital fashion with high utilization and a lower cost of entry.. Submit a correction suggestion and help us fix it! Constant innovation hinges on always anticipating the clients next move and tendencies and catering to them. 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. [35] The company also partnered with Jet Edge and Air Hamburg to cater to its global community of private jet fliers. Whats your marketing strategy? For more information, read, How to Switch Careers Even if You Think It's Impossible, Your Resume Probably Needs a Pandemic Makeover. With businesses like Uber becoming the norm, how do you see the private aviation industry changing in the near future?

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In September 2018, on a flight from New York to Las Vegas, 23-year-old DJ Maurice Paola started yelling and threatening to kill other passengers. His advice to millennials like him who want to create companies is to be bold sooner rather than later. A membership model would give the company both regular revenue and enough customers to set it on the road to going public one day. Founder and CEO, JetSmarter Boca Raton, Florida About Sergey Petrossov Sergey wants to change the aviation business by making private flights accessible to the masses. ", "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). JetSmarter was the first "flying unicorn," with a valuation of more than $1 billion. Terms of the transaction were not disclosed. Petrossov was motivated to create companies in his teens We have to do that for the traditional private flyer whos not used to sharing an airplane. In early 2016, it launched flights within Europe. How To Remove Items From Your Credit Report, How To Boost Your Credit Card Approval Odds, Best Pet Insurance Companies of April 2023, Drivers May Soon Get More Money Back From Car Insurance Companies, Non-Fungible Frenzy: Why NFTs Are Suddenly Everywhere. Remember! After paying nearly $90,000 for memberships, they were being told they had to pay more to actually USE their memberships. More from Forbes 30 Under 30 - Consumer Technology 2016 List. 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. JetSmarter aggregates. There is no such thing as a typical day for Petrossov. [CDATA[ Also, today, in the tech age, luxury is transcending past brand to experience. 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. JetSmarters starting point is $17,500, so theyve essentially lowered the entry point for private aviation, allowing many people with a lower net worth to fly privately when they never could before. It's very expensive but worth it to get on a private plane to go somewhere if you've got that kind of money, of course. [30], JetSmarter partnered with various air carriers that span the range of the private charter industry. I love hosting this blog for Refresh Miami and we aim to be the go-to site for South Florida startup and tech news, features and views. It is this small switch in outlook that the customers needs are paramount, that can make a big difference. 7 calle 1, Suite 204 In the private aviation industry, many are familiar with jet cards or fractional jet ownership, where a light to mid-sized jet card can cost one anywhere from $130,000 to $150,000 a year for 25 hours worth of flying. Kim Kardashian, Emily Ratajkowski and David Ortiz were paid to be brand ambassadors. Steven Kreit, a partner at accounting firm EisnerAmper who is in charge of its New York commercial audit and assurance practice, said they should, especially at a unicorn-sized company. 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. How Sergey Petrossov, JetSmarter's Founder and CEO, is Revolutionizing Private Aviation Sergey Petrossov's solid work ethic and drive to succeed as an entrepreneur has been evident since. Sergey Petrossov (@sergey) Instagram photos and videos What was your vision for the mobile app? Work stopped on Bezos' megamansion as his net worth drops by $57B Mass affluent want a one-stop-shop for all three, and thats what we strive to offer. He alleged misleading advertising on social media from Kim Kardashian and Petra Nemcova as well as deceptive sales tactics. As Galvez told CNBC: "My heart dropped. Customers started accusing JetSmarter of bait and switch. 2023 Celebrity Net Worth / All Rights Reserved. JetSmarter has not been without its hiccups. Our partners can use the same app as our customers to manage their inventory in real-time from any mobile device, and fill their flights instantly. I wasnt the founder but since I got involved early they called me a co-founder. The Russian-born Florida resident aims to change the landscape of private aviation by making it more attainable and efficient than ever before. Born in Moscow, Petrossov relocated to the United States with his family at the age of four. In response to positive reviews and the growing popularity of the mobile marketplace, Petrossov made the decision to develop what would come to be known as JetSmarter into a full-fledged business. Some flights have security dogs inspecting bags, but many have no security checks at all. Our average user visits JetSmarter 12 times daily. How Sergey Petrossov, JetSmarter's Founder and CEO, is Revolutionizing Were still in the early days.. JetSmarter CEO Sergey Petrossov Says Ex-President's Arrest Has 'No With investors that include the Saudi royal family and Jay-Z , JetSmarter is valued at $1.5 billion. When they asked for refunds, JetSmarter told them to read the legal disclosures in their membership agreements that said the company could "change, suspend, or terminate any of the services or benefits at any time." JetSmarters starting point is $17,500, so theyve essentially lowered the entry point for private aviation, allowing many people with a lower net worth to fly privately when they never could before. He graduated in 2009. Sergey Petrossov Founder JetSmarter (Acquired) | CEO | Board Member | Entrepreneur | Vista Global Executive Miami-Fort Lauderdale Area 5K followers 500+ connections Join to view profile Vista. What are JetSmarters expansion plans for the future? 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. Ultimately, JetSmarter allows those with a lower net worth the ability to book private flights. 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. He is seeking a refund and damages. And down the road, we want to own premium business travel in the United States, he says. Since JetSmarters launch in 2013, the company has focused on making the booking process as easy as possible JetSmarter is often compared with Uber for how easy it is to book and democratizing private aviation by making it more affordable and accessible. Instead, his focus is on creating a world-class, hospitality-driven experience. Sergey wants to change the aviation business by making private flights accessible to the masses. Instead it acts as a middleman between private jets and passengers looking for seats. Thats the most important thing for entrepreneurs. The company was offering him its "sophisticated membership," which included unlimited, free private jet flights with a companion pass. [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". With JetSmarter, he focuses on how to make air travel more convenient and accessible, but also on how to improve the lifestyles of his members the biggest draw of JetSmarter for a lot of its members is being able to fly privately with other like-minded individuals who place a lot of importance on style and luxury. Sergei Andreyevich Petrov ( Russian: ; born 2 January 1991) is a Russian football player. JetSmarter was losing money hand over fist so it went through three investment rounds to raise. What was your vision for the mobile app? Petrossov's biggest success to date, however . He was told he'd have to pay 75% of the cost of his flight. [10][11] JetSmarter had offices in Zurich, London, Moscow, Dubai, Riyadh, and Fort Lauderdale. // ]]> JetSmarters own Safety Audit Committee analyzes the procedures of all primary operators in the JetSmarter program. [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. Anthony Pompliano Net Worth Phone Number, House Address, Wiki, Ashley Massengill Net Worth | Bio, Family, Address, Career, Atlas Monroe Net Worth | Age, Height, Weight, Dating And More, Beyonce S Net Worth Phone Number, House Address, Wiki, Blue Ivy Net Worth Phone Number, House Address, Wiki. 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. Whats your marketing strategy? JetSmarter told Galvez that if he bought it now, he could get three years for $97,500. Petrossov declined to divulge revenues, but if 8,000 members are paying $15,000 a year that would mean $120 million in annual membership fees alone. Also, the mass affluent are looking for experiences tailored to the lifestyle they want to live. Education After graduating from high school, Petrossov studied finance at the University of Florida. But forJetSmarterFounder and CEO, Sergey Petrossov, its just another day at the office (or in the skies). [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. Dont give up, he says. Codispoti said by email that he joined JetSmarter as CFO in October. People are becoming more and more interested in Sergey Petrossov because of how much money he makes. If a friend says JetSmarter is the best, the trust factor goes up. Petrossov said then he started working on the idea in 2012 as a side project and since then it has been one long hectic ride. Over the years, he also said he hoped to take JetSmarter public. [14], On April 10, 2019, Dubai-based Vista Global said it had made an agreement to acquire JetSmarter adding it to its aviation portfolio, which includes VistaJet and XOJET. JetSmarter Named In Class Action Lawsuit As Its CEO Sergey Petrossov For Petrossov, his vision is one that goes beyond mere name recognition and service. He alleged misleading advertising on social media from Kim Kardashian and Petra Nemcova as well as deceptive sales tactics. While attending the University of Florida, he became involved with his first tech start-up, which lit a passion in him. Basically, they are bullying anyone critical of the company. 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 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. It was also investing a ton of money on marketing and events. 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. Petrossov was shocked at how out-dated the entire booking processes seemed, and he figured that the whole experience could be streamlined via technology. [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. JetSmarter CEO Sergey Petrossov's Sky-High Ambitions JetSmarter has essentially redefined the entire industry with one, clear mission: to reimagine aviation as it was meant to be. Our average user visits JetSmarter 12 times daily. We offer travel experience packages, ranging from experiences with luxury brands like Dom Prignon, to exclusive access to VIP events. Its third round in 2016 raised $105 million and put the valuation of the startup at $1.5 billion. The buyer of the Lauderdale-based company that provides an Uber-for-jets service is Dubai-based Vista Global, Bloomberg reported this morning. We think about three pillars: how you get there, who you meet and where you go. The company held champagne filled parties in Miami, Los Angeles, and New York to attract rich new members. When CNBC contacted former and current employees for their investigation, they received a cease and desist from JetSmarter. I dont know. [39] According to Petrossov, JetSmarter has been downloaded more than 300,000 times since its launch in March 2013, and while he wasn't willing to share very many figures relating to the business, he . JetSmarter bought those seats at a heavy discount and then connected the seats to passengers through their app. To join JetSmarter costs $15,000 a year to gain access, Petrossov said, and members then pay for the flights or other services. When youre young, those are the years you can take the most risks. [CDATA[ brightcove.createExperiences(); View the profiles of professionals named "Sergey Petrossov" on LinkedIn. It projected that membership would grow from 5,839 in 2016 to more than 100,000 in 2019. There are lots of hard times, but I found that, no matter how difficult something is, you should keep falling, and if you keep getting back up and move forward, its virtually impossible to fail unless youre physically incapacitated., That doesnt just apply to him, he adds, but among the great entrepreneurs, it comes back to perseverance. Partnerships included Pernod Ricard,[33] Vertis Aviation,[34] and SportStar Relocation. 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. 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.. JetSmarter was basically throwing cash on the fire and watching it burn. Meet the CEO of JetSmarter, the Uber of Private Jets | Money 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. JetSmarter flight services included a mix of shared and private flights: JetSmarter claimed to offer 3,000 private jets and 2,000 free empty legs per month. Still, despite JetSmarter's aggressive legal bullying, a number of former members have joined a class action lawsuit against the company. For more information visit: www.jetsmarter.com. 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. What began as an idea in 2012 has now become the worlds largest private aviation travel and lifestyle community. It was highly inefficient. They were doing this stuff back in 2005, 2006. She was told she could get three years of sophisticated membership for $87,092 a discount from the already discounted $97,500. The consent submitted will only be used for data processing originating from this website. The first time Sergey Petrossov flew on a private jet in 2009, he was surprised. We spend a lot of time asking members to spread the word. JetSmarters goal is not only to make it easier for people to fly in luxury. Petrossov is most known for founding JetSmarter, a technology company This is just a sample. Petrossov formed relationships in aviation by going to trade shows. Founder @jetsmarter Acquired by @vistaglobalholding Building @flyxo @vistajet. Often called " Uber " for private air travel, JetSmarter enables people to book. Is the CEO of Turkey's Newest U.S. PR Firm Really Armenian? The first beta version of the app was released in August 2012 to a closed group of private jet travelers. Rather than just thinking of ways to improve a service digitally, he tries to focus on how he and his product can improve lives and lifestyles. It is expected to close in the second quarter. 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. You have this multibillion-dollar industry that was completely analogue, he says. Mark Zuckerberg. We offer travel experience packages, ranging from experiences with luxury brands like Dom Prignon, to exclusive access to VIP events. What began as an idea in 2012 has now become the world's largest private aviation travel and lifestyle community. I agree to Money's Terms of Use and Privacy Notice and consent to the processing of my personal information. Sergey Petrossov Net Worth - Phone Number, House Address, Wiki The company has also been known to sue journalists for writing articles critical of the company if they do not take down the article. His goal has always been to have in own company and while still in college, he . We think about three pillars: how you get there, who you meet and where you go. [39] In the same month, JetSmarter agreed to an undisclosed settlement after a New Jersey coupled filed a lawsuit alleging deceptive sales tactics. However, if the person behind the product, and the product itself, has a relatable story and shows potential customers that it offers value, the likelihood of success is higher. The question was: How was JetSmarter making ANY money off their flights? Sergey Petrossov - Facebook In March 2013, JetSmarter launched globally. When JetSmarter debuted, it was touted as a disruptor in the aviation industry. Sergey and Lolita lived in a $2 million house in a gated community in tony Boca Raton, Florida. When I was 18, I wasnt really into college that much I was more interested in getting out of college and I got involved with my first startup. var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); Sergey Petrossov has become the most popular person by his significant works. Airplanes could fly five to seven times more if they were efficiently run, he said. Trial and error drive progress and are at the heart of innovation. (1) *Club domestic league appearances and goals, correct as of 23 April 2023. Its not always about price, he said, noting that the company currently has 8,000 members and transports 20,000 people a month. 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. Founder Sergey Petrossov said in the brokerage industry, "there's very little transparency." With the JetSmarter app, consumers can see the prices anywhere from $5,000 to $600,000 for a . Petrossov has not responded to my request for an interview. What was your background prior to JetSmarter? It also said it had eliminated free shuttles and for new members, it had eliminated free flights under three hours. He initially resided in California and later moved to Florida, where he continues to live today. I moved to South Florida when I was 11 or 12. By clicking "TRY IT", I agree to receive newsletters and promotions from Money and its partners. After the Paola flight, the federal agency is looking into whether the startup is following rules governing commercial versus private aviation flights. Charter a flight with the tap of an app - Sun Sentinel These airplanes are severely under-utilized by flying only 200 hours a year when they could be flying 1,200 hours. It required literally calling to book and signing papers. Our goal is to one day make all air travel private. 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. The flight eventually continued to New York. Empty-leg flight deals, or repositioning flights. We just launched within the app an events and experiences section that allows members to book curated point-to-point experiences that cant be found elsewhere. Petrossov, who was born in Russia but moved to Florida at a young age with his family, struggles to define what has made him hustle through his 20s. The company has a trail of angry customers and at least 13 lawsuits. Save time and get . Its unfortunate, but it has nothing to do with the company, Petrossov told FORBES in a telephone interview. If clients and customers arent happy, the product is doomed to fail, and being at the forefront of what people want and need allows Petrossov to keep his clients and customers happy, setting JetSmarter up for further success. . JetSmarters goal is also to utilize those passenger-free flight hours and fill them. 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.. The entrepreneur who changed how the world sees Russia How Sergey JetSmarter faces lawsuits, losses and security questions - CNBC 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. JetSmarter was founded by Moscow-born Sergey Petrossov, who moved to South Florida as a teen, graduated from the University of Florida and launched JetSmarter in 2012 when he was in his early 20s. In the beginning, JetSmarter bought seats on flights that were empty because they were being moved to another location for a flight originating elsewhere. A few weeks later, Galvez tried to book a JetSmarter flight. 1,302 likes. But for JetSmarter Founder and CEO, Sergey Petrossov, its just another day at the office (or in the skies). The salespeople offered special deals, incentives, and other tactics in what can only be called a "money grab.". The current CFO is Edward Codispoti, who had previously been chief financial officer at TradeStation. Sergey Petrossov, a Young Man with a Big Dream: Sergey Petrossov moved to the U.S. as a young boy, and his family finally settled in Florida. (Epstein declined to comment.). this link is to an external site that may or may not meet accessibility guidelines. Petrossov said that he had added the role of president at the Fort Lauderdale-based companies to his duties as chief executive since Barskys departure. In December, it garnered a giant $105 million round of financing that pushed the private companys valuation to $1.5 billion. When expanded it provides a list of search options that will switch the search inputs to match the current selection. In high school, he attempted to start an import-export business for automobile tire rims. The 12 wealthiest people on the planet grew $36 . Get an inside vue on the latest in luxury. JetSmarter aggregates prices and availability from hundreds of aviation companies and sells flights in a variety of ways. JetSmarter - Wikipedia And, if they want, they can book a fully private flight, which comes with a higher cost. He is a Forbes-ranked billionaire, with an estimated net worth of $2.3 billion. Thank you for subscribing to Elite Traveler. Additionally, JetSmarter partners exclusively with operators that carry a Wyvern Wingman or ARG/US Gold or Platinum safety rating, viewable in the app along with each aircrafts liability insurance. I am a writer and editor with extensive media experience and a passion for journalism and serving the community. By enabling guests to travel to over 170 countries worldwide, JetSmarter is often referred to as a country club in the air.. The report included a video of a JetSmarter flight that was diverted by a passenger making terroristic threats.[41]. In August 2012, I made it a reality and created the beta version of JetSmarter, sharing it with an exclusive group of industry experts and frequent private jet users. He decided to organize planes in a digital fashion with high utilization and a lower cost of entry.. Submit a correction suggestion and help us fix it! Constant innovation hinges on always anticipating the clients next move and tendencies and catering to them. 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. [35] The company also partnered with Jet Edge and Air Hamburg to cater to its global community of private jet fliers. Whats your marketing strategy? For more information, read, How to Switch Careers Even if You Think It's Impossible, Your Resume Probably Needs a Pandemic Makeover. 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sergey petrossov net worth

sergey petrossov net worth

sergey petrossov net worth

sergey petrossov net worth

sergey petrossov net worth

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