Jay-Z Invests In The Uber Of Private Jets
The lavish company, which is often deemed the Uber of private jets, announced Thursday that it had closed a $20 million round of investments.
It’s unclear how much of that lofty sum came out of Hova’s designer pants’ pockets, but Business Insider confirmed the “Run this Town” rapper did throw his wallet into the ring.
The app, which is available for iOS and Android, was launched in 2013. Users can create custom charter flights to anywhere in the world, and JetSmarter guarantees availability year round.
You can also book a one-way private flight on demand with the app, or snag a spot on a pre-existing flight through the JetShuttle service.
“I started the company out of a frustration with the process,” creator Sergey Petrossov told Business Insider. “I kept thinking to myself, ‘Why hasn’t this service been brought into the digital world?'”
JetSmarter members pay $9,000 per year to just access the wholesale prices of the flight. They also get free deals, as well as access to free spots on the JetShuttle.
Non-members can also use the app, but flights can cost several thousands of dollars just to arrange.
This luxurious investment is just the latest for the money-minded Jay-Z, who famously raps that he’s “not a businessman, (he’s) a business, man.”
The 45-year-old rap icon, whose estimated net worth is $500 million, owns his own talent agency (Roc Nation), a popular New York City nightclub (“The 40/40 Club”) and a liquor company (Armadale Vodka).
His Roc Nation Sports agency represents several high-level athletes such as Kevin Durant, Robinson Cano and Dez Bryant. He also once owned a tiny sliver of a percent of the Brooklyn Nets.
JetSmarter is part of a wide range of app offerings for the 1%, including another private jet-booker called BlackJet, as well as VIP Black, which allows the super-rich to hire personal chefs, book exclusive hotel rooms and receive special privileges from cooperating organizations.
VIP Black app costs $999.99 to download and requires users to certify that they earn at least $1.55 million per year.