Young Entrepreneur Sergey Petrossov Builds A Business Worth $1.5 Billion

Sergey Petrossov is an entrepreneur in the private jet industry. He was just 22 when he came up with the idea of an app that would revolutionize that industry. Three years earlier, he had booked a private jet and saw first-hand just how antiquated and frustrating it was. He knew he could come up with something better and he did.

In 2013, Sergey Petrossov introduced JetSmarter to the world. People that pay to be subscribers of this app receive perks. First, they can book a private jet flight in just moments instead of spending an hour filling out forms with a pen. Second, they can book a flight on a flight that some other subscriber set up.

His vision led to a company that is now valued at $1.5 billion. Before he entered the private jet industry the costs were very high and the average flight had just two or three passengers on it. Due to JetSmarter, the costs are coming down dramatically as planes are used more efficiently with more passengers on them.

When asked about being a young entrepreneur, now 29, Sergey Petrossov says that 20-somethings need to take a lot more risks than most of them do. People set for some corporate job instead of trying to really achieve something by starting their own business. As he points out, it’s when you’re young without that many responsibilities that you can most afford to take on risk.

Sergey Petrossov points out that most people don’t want to be old, looking back on their life, and feeling like they never really took a big chance with their career. He says that when you’re young take all the risks you can because at some point you will be older and unable to do so.