Hip hop mogul Jay Z continues to expand his business empire after just investing millions in a new app that brings the convenience of Uber to the average wealthy private jet flyer.
After investing in music streaming company Tidal, Jay Z has expanded his portfolio even further after investing in JetSmarter, a company known as “Uber for private jets.”
Entrepreneur Sergey Petrossev created the app as a way to make booking private jets easier. Normally there is a lot of paperwork that goes along with booking jets, and Petrossev made it possible for anyone to book a flight on a private jet in a matter of minutes.
Members pay $9,000 per year to have unlimited access to private jets that will fly you anywhere in the world, aside from unsafe areas and war zones. There are also two other booking options, JetDeals and JetShuttle, which are free for those who don’t want to shell out such a high amount.
The company just finished a $20 million Series B investment round that attracted investors like the Saudi Royal Family and Jay Z, whom Petrossev said were already using his app.