Victor Expands U.S. Market Presence With Acquisition Of YoungJets; Additional $5M In Funding

SANTA BARBARA, Calif., July 14, 2015 /PRNewswire/ -- Victor, the first global on-demand private jet charter service to offer complete transparency, today announces the acquisition of internationally renowned YoungJets, the Santa Barbara-based private jet charter services provider behind many of the world's biggest entertainment brands and tours, as well as corporate and private equity clientele.  YoungJets founder and CEO David Young will also join to serve as Victor's senior vice president of the U.S. market, leading the seasoned YoungJets team through the company integration and market expansion.

In addition, Victor has secured $5M in funding from investor customers who are passionate about the service and wanted to be part of its growth.  This second closing round augments a previously announced $8M, making a total of $13M invested in private equity from its own clientele during the last 90 days.  The funds will be used for customer acquisition and scaling of the technology to meet growing demand.  As the company continues to expand globally, it will be pursuing institutional funding later this year.

On the heels of its recent U.S. expansion announcement and app launch, the acquisition of YoungJets and funding infusion showcases Victor's commitment and ability to quickly provide high-touch customer servicing and efficient logistics in the U.S. market.  By strengthening its core business globally, Victor has positioned itself as one of the leading global on-demand services, with the unique ability to quickly scale operations in new markets. 

David Young, CEO and founder of YoungJets agrees, "When I saw what Clive Jackson and his team were striving to do with on-demand private jet charter, seriously rethinking the interchange of supply and demand to the customer's benefit, I knew that this was the future. No one is more time-strapped and on-the-go than the touring professional, corporate road show or political campaign coordinator handling a complex jet tour," continued Young. "As a lifelong entrepreneur, I've been passionately committed to innovation in customer service and joining forces with Victor enables us to deliver smart tech and time-saving innovation to the people who need it the most."

Young will focus on building out Victor's North American footprint, overseeing business development and operations. The YoungJets team comes from diverse backgrounds in the VIP travel, charter services and luxury concierge industry from companies that include Sentient Jet, Presidential Aviation, Jet Direct, Air Royale, Shockwave Cargo, AEG, Fox Searchlight Pictures and Paramount Vantage Pictures. 

Veteran aviation executive Levent Edepli, formerly of Sentient Jet, Jet Edge and more recently Jet Linx, has also joined Victor to oversee logistics and operations for North America. Edepli, as Victor's vice president of operations and customer service for North America, will focus on developing and managing supplier relationships and operational excellence.  He spent 10 years at Sentient Jet co-managing the sourcing department for member flights and establishing a large, customized vendor network.

"Victor is focused on expanding its global business in a manner that maximizes operations efficiency and customer service expertise at market entry; and the addition of our funding, the YoungJets team and Levent does just that," said Victor CEO Clive Jackson.  "David Young has an incredible reputation in the entertainment industry and brings a specialized team that expertly handles complex travel for high-profile jet charter clients.  Bringing both David and Levent into the executive ranks further rounds out our management team with world-class talent in the aviation market."

About YoungJets

YoungJets has been behind many of the most high profile world tours and charter endeavors of the last several years, including masterminding the logistics of the historic Rihanna 777 Tour and the Bacardi Triangle shuttle of renowned performers, flying artists and more than 750 VIPs to Puerto Rico to enjoy performances on a private island, featuring Ellie Goulding, Calvin Harris, and Kendrick Lamar. Credited in 2014 with the highly coveted "Air Charter Company of the Year" honor by TourLink's Top Dog Awards, as voted on by peers in the touring industry in 2014, YoungJets saw sales spike year-over-year from 2013 to 2014 by 222 percent and vast penetration well beyond entertainment into a staple of corporate and private equity clientele.

About Victor

Victor is a global on-demand private jet charter service that is the first to offer complete transparency in private aviation. It is the only service to disclose transaction fees, operator and aircraft details and there are no hidden costs, surcharges or membership fees. With smart technology, exceptional customer service and access to 7,000+ aircraft reaching 40,000 airports worldwide, Victor makes comparing, booking and managing private jet charter easier than ever before.  

Victor provides instant price estimates by aircraft type and category. These are followed by a selection of competitive full charter quotes so that members can choose from the best aircraft, operators and prices.  The company has recently launched an iOS app allowing member to access the full end-to-end charter booking and flight management service on the move. The Victor app is now available for download on the iTunes App Store. For the past three years, Victor has achieved 300% year-on-year growth. For more information, please visit www.flyvictor.com.  

SOURCE Victor

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http://www.flyvictor.com