Subject: FW: PrivateFly [New Deal]
From: "Neil Callahan" <[email-masked]>
To: "William Lee" <[email-masked]>, "John DeLoche" <[email-masked]>, "Eric Schwerin" <[email-masked]>
Cc: "Hunter Biden" <[email-masked]>, "Devon Archer" <[email-masked]>, <[email-masked]>
Date: Mon, 30 Jun 2014 11:58:26 -0700

Background on PriateFly, doing $1m a month in sales, about 100 segments
booked ($12m annual run rate), but that is topline sales ala
Amazon/Retail.  Their commission/fee s about 10% of gross sales, so just
like expedia, kayak financials.

They did all the heavy lifting to sign up the private jet management
companies that manage are the private and corporate fleets and do the
integreation with their booking systems to get near real time quotes.  And
they have the aviation background to understand how to manage quality or
service of suppliers, which is a bigger requirement for the US traveler
than the European or Asian traveler.  Have done white labels with other
travel companies, ala a black car service in London, so they have focused
on building a platform that is scaleable.  CEO sold his house to start the
business, 2m pounds in the company to date from F&F.

The CEO will send us their investor package with more detail today/tomorrow.

Neil Callahan

Co-Founder & Managing Director

Rosemont Seneca Technology Patners

152 West 57th Street, 47th Floor

New York, New York 10019

917-945-9516

www.rstp.com

*From:* Sebastian Momtazi [mailto:[email-masked]]
*Sent:* Wednesday, June 25, 2014 9:58 AM
*To:* Neil Callahan
*Subject:* FW: PrivateFly [New Deal]

Want to jump on a call w/ CEO? What's your avail?

*From: *Hamish Burt <[email-masked]>
*Date: *Friday, June 20, 2014 9:21 AM
*To: *Devon Archer <[email-masked]>, Sebastian Momtazi <
[email-masked]>
*Cc: *Lawrence Guffey <[email-masked]>
*Subject: *PrivateFly [New Deal]

Devon / Sebastian,

End of last year I met the CEO of PrivateFly, a global booking service for
private jet charter and private aircraft hire (www.privatefly.com).

They are one of the first movers in the private jet online space bringing a
Skyscanner / Kayak-esque platform to the private jet market.  The online
platform and apps integrate with a live global network of over 7,000
accredited aircraft, to pinpoint the best available private aircraft at the
most competitive, transparent market price.  One known early stage
competitor is Victor (www.flyvictor.com).

I met the CEO in Nov 2013 (he was impressive) and the company has
experienced 96% increase in sales since 2012, albeit from a low base (2012:
GBP £1.8m, 2013: £4.4m, 2014: £6.6m) – they lost £300k last year due to
spend on expansion of the platform.  They claim to have over 50% repeat
customer usage and having looked into the interface last year, it is
certainly a compelling proposition as a potential disrupter to the Marquee
or Netjets model.

They are looking for GBP £7.5m and an ‘institutional’ backer for the
company to take it to the next stage.  The CEO doesn’t have a strong
financial background but does know his business.  He tells me they have
cash at bank for 2-3 years so this is purely a strategy to further /
expedite expansion.

I like the Skyscanner model and while this market can only ever be a
fraction of the size, there are not many people in this space right now and
the industry certainly could do with more transparency on pricing.  I have
attached their teaser, the NDA I signed which will confer to you and their
slide deck.

I thought RSTP may be interested.  They are aware that [we] don’t compete
in competitive funding processes (legacy policy from Promethean) and have
inferred they would be open to providing a period of first look if you have
an interest to learn more.

Please let me know.

hb

*LG Capital Investors LLC*

Carnegie Hall Tower

152 West 57th Street, 47th Floor

New York, NY 1001