Sergey Petrossov is the founder, chairman and CEO of JetSmarter.
A Moscow native, Petrossov created JetSmarter, which is a user-friendly app that allows travelers to order private flights with jet operators. Petrossov released the app in 2013. By 2017, Petrossov had raised $105 million from investors including Jay Z and the Saudi royal family. The private company’s estimated worth is $1.5 billion.
When he was four, Petrossov’s family moved to the United States and lived in California and Colorado. They eventually settled in Florida, and Petrossov attended college at the University of Florida. It’s also where he got the idea to start his flight business.
Petrossov took his first private-jet flight at the age of 21 when the owner of a private jet company in Florida let him fly on his plane. The private flight industry wasn’t very tech-savvy, but Petrossov was. He began researching the industry and realized that an app that allowed people to book private flights and jets was needed for business travelers and the rich and famous.
Ultimately, JetSmarter could become the “Uber” for private flying. Petrossov’s company partners with more than 800 carriers from around the world. Members pay an annual fee about $14,000 and have access to seats on jets. The JetSmarter app creates more private flights and members use the app to book travel to more than 170 countries.
Always thinking ahead, Petrossov is partnering with other luxury brands to create a traveling experience that includes curated meals by famous chefs and VIP packages that allow exclusive access to VIP events,
Petrossov, whose interests include travel and technology, has been listed on Forbes 30 under 30 for JetSmarter.
Most startup ventures will find failure rather than fertilizer for their seedling businesses, and that is often due to poor planning or lack of experience. The best advice for these up-and-comers for growing? To get advice from experienced and trusted sources that exist to help.
James River Capital is an independent investment firm that offers an assortment of classes to help with asset managing. Originally started in 1995 and based in Virginia, James River Capital is registered both as a Commodity Trading Adviser and Pool Operator with the Commodity Futures Trading Commission (CFTC), as well as an Investment Adviser with the U.S. Securities and Exchange Commission (SEC). That means they know their stuff, and they have the paperwork to prove it. Some classes they offer include fixed income arbitrage, strategy investing, and many more- and how to apply each to your business.
The one who not only runs this successful firm but also founded it is a man named Paul Sanders. Sanders grew up with a passion for finance that turned into a career, and one thing he has found particularly successful is his emphasis on creation rather than competition. He also has a firm belief in ideas such as “bootstrapping” and “crowd funding”, which are basically small funding projects that involve kick-starters or asking loved ones to invest first. If you do have people you know well investing, then that can go a long way with bigger investors in the future; it sets an image of trust.
After that, some suggestions made by Sanders include: business loans, local loans, angel investors, venture capitalists, and trading equity. And each of these categories have several options for helping new owners get their companies off the ground. Banks can have lower interest, but lower approval; local loans are based on the area; angel investors are individuals looking for promise; venture capitalists want a high return at a fast rate; and trading equity means offering stock. Each are excellent building blocks, and Sanders suggests taking the time to figure out which best works for you.