On-Demand Private Jet Charter Company Flewber Global Files for U.S. IPO

Firm connects users with third-party private carriers but is looking to launch an air taxi service with its own aircraft.

Jack Daleo

Wednesday, July 19, 2023 at 02:14 PM ET

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On-demand private jet charter company Flewber Global filed for an initial public offering this week. [Credit: Shutterstock]

Key Takeaways:

Flewber Global, a private jet charter company, is pursuing an IPO to raise up to $8 million, aiming to compete with ground-based rideshare services.
The company primarily operates Flewber Luxe, a premium brokerage service that is its core revenue driver, and a free booking app, both relying on third-party aircraft operators.
Flewber plans to launch "Flewber Hops" in Q3 2023, an air taxi service that will use its own Cirrus Vision Jets for short, regional flights, positioning itself in the urban air mobility market without eVTOLs.
Currently, Flewber's revenue is heavily dependent on Flewber Luxe, and it posted a net loss in Q1 2023 while acknowledging risks associated with its reliance on third-party operators.

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You’ve heard of Uber and Lyft, but how about Flewber?

Flewber Global, a New York-based private jet charter company, doesn’t compare itself to those companies on account of its air-based offerings, but it seeks to compete with ground-based rideshare services. According to an SEC filing, the firm has filed for an initial public offering to be listed on the Nasdaq under the symbol FLYF. The filing calls for a capital raise of up to $8 million, and pricing terms were not disclosed. Maxim Group LLC and Joseph Gunnar and Co. are joint bookrunners for the deal.