Jetta

Parnasa 62 - Tech Fund
JettaPlus
Your marketplace for unused plane
tickets!
July 2017

OUR MISSION
Our mission is to become the leading
marketplace for 50 euro plane tickets and
allow people to travel as much as they
wish!
July 2017

JETTAPLUS.COM (since 2015) - Online technology
based marketplace allows travellers to sell their own
unused plane tickets to other travellers.
We launched in Israel in Sep. 2016 and during a short
time ( 4 months ) Jetta Plus became a competitive
market player with active traffic:
• Visitors: over 1,000,000;
• Sales: over 1000 unused plane tickets;
• Online transactions: over $250,000 and cooperation
propositions from leading travel companies in Israel.
OUR STORY
July 2017

MEDIA & PR
https://www.youtube.com/watch?v=mEE_IGbm2Qw
https://www.youtube.com/embed/8TWK3kUwLI4?rel=0
https://www.facebook.com/laylacalcaly/videos/10154092185732943/
July 2017

OUR OPPORTUNITIES
Since Open Skies Agreements (in 2013) , the Airline Industry went through incredible changes:
1) Drastic drop in ticket prices.
2) Airlines’ rules change: from stiff to flexible.
3) An incredible increase of travelers each year (up to 50%)
* “The Civil Aviation Authority (CAA) reports an expected increase in low-cost flights...”
4) Each year 85,796,880 travelers are “stuck” with unused plane tickets (3.15% of all
travelers)
* Based on “Top 100 busiest airports by passenger traffic report 2016” and “NO SHOW” statistics.
5) Travel and insurance companies are “stuck” with reserved and unused plane tickets .
6) Airline companies are looking for direct and discreet distribution channels.
7) Travelers become more spontaneous and expect cheaper flights.
July 2017

OUR RICH EXPERIENCE
After 2 years of intensive “fieldwork" we got to know the following:
• Airline companies operations and their distribution channels (GDS, LDS, direct and etc.)
• Travel (wholesaler) companies model (both small and big)
• Tour operators operations (even took the tour operator course)
• Travel cancellation insurance companies operations (Trip Guaranty, Allianz, Passport card)
• Pain Point of people who are stuck with unused tickets.
Days changes before flight:
3 Days 26%
7 Days 23%
4 Days 21%
19 Days 15%
1 Day 15%
July 2017

AIRLINES’ DISTRIBUTION CHANNELS
Direct Sales
10%
Travel Companies /
Tour operators
etc..(GDS, LDS)
90%
July 2017

OVERBOOKING
Overbooking flights is fairly standard in the airline
industry and completely legal. Airlines often engage
in this practice to make up for customers who do not
show up for their scheduled flight, trying to ensure
that their flights are as close to full capacity as
possible.
Specifically, under EU Regulation EC 261/04*
regarding passenger rights, any passenger
involuntarily denied boarding on an overbooked
flight departing from an EU airport, regardless of
airline or destination, is eligible for airline
compensation of up to €600.
July 2017

LOW-COST AIRLINES’ REVENUE
AirAsia 910M 260M 18.50%
Virgin America 4.4M 370M 6.90%
Norwegian 2.2B 418M 15.40%
AirAsia X 527M 138M 16.50%
West Jet 3B 347M 9.60%
Indigo 2.5B 305M 13.20%
Low-cost airlines Seat revenue Extra revenue % of all revenues
July 2017

Low-cost airlines Seat revenue Extras revenue % of all revenues
50 €
100€
500 €
1000 €
NOW
3 YEARS
BASIC
(3 YEARS)
WHERE WE ARE HEADING
July 2017

HOW WE ARE GOING TO GET THERE
 Agreements with travel companies who are “stuck” with unused and cancelled plane
tickets.
 Agreements with airline companies who are looking for “direct” distribution channels which
are not identified with them.
 Agreements with tour operators and insurance companies who are looking to reduce
expenses.
 The huge number of travelers who are “stuck” with unused tickets.
July 2017

LAUNCHING DATE
MAY 2018
July 2017

FINANCIAL MODEL
 The Company will purchase tickets in bulk from discount airlines and resell them on the
website.
 Inventory is assumed to be 3-6 months before sale of tickets.
 Average tickets sold totals approximately 103 in the second year of operations.
 Revenues are based on sale of plane tickets for 50 Euro ($55).
 The Company receives a 10% commission on sales.
 Operating Expenses are based on the Company’s two year budget plan, a breakdown is
provided on the next page.
 The Company is projected to have an accumulated deficit of $4.0 million by June 2019.
July 2017

 As of June 2019, the Company will
have $840,000 of ticket inventory
remaining.
 In addition, the Company requests a
reserve of $2 million in order to be able
to respond swiftly to changing online
market environment against the
competition.
Capital Required USD
Accumulated Cash Flow 4,047,125
Reserve Fund 2,000,000
Total Requested Funds 6,047,125
July 2017
FINANCIAL MODEL

have $840 K of ticket inventory
remaining.
reserve of $2 million in order to be
able to respond swiftly to changing
online market environments against
the competition.
July 2017
FINANCIAL MODEL
USD July 2017-June 2018 July 2018-June 2019
Average Daily Tickets Sold N/A 150
Total Tickets sold 450 54,100
Revenues 24,750 2,975,500
YoY Growth 11922%
COGS 22,275 2,677,950
Gross Profit 2,475 297,550
% of revenues 10% 10%
R&D 207,375 407,500
G&A 349,353 562,772

remaining.
the competition.
FINANCIAL MODEL
July 2017
S&M 530,500 1,080,000
Unexpected Costs 163,084 307,541
Total Opex 1,250,312 2,357,813
Operating Profit (1,247,837) (2,060,263)
% of revenues -5042% -69%
Tax – –
Change in Working Capital (200,475) (638,550)
OCS Grant 100,000
Free Cash Flow (1,348,312) (2,698,813)
Accumulated Cash Flow (1,348,312) (4,047,125)

OPERATIONAL EXPENSES
 R&D: In the second half of 2018, the Company will begin new market development strategies.
 Over 60% of first year of operations will go towards professional cooperation with GDS and IDS
systems. In the second year, it will only represent 30% of R&D costs.
 G&A: Salary and training makes up about 25% of the G&A in the first year and will double in the
second year as the Company increases the workforce.
 S&M: 85% of the S&M expenses will go towards advertising costs. The Company will use both
internet and television solutions, with a focus on travel related media.
 Unexpected Costs: The Company maintains a cushion of 15% of the operating expenses for
unexpected costs.
July 2017

remaining.
the competition.
R&D
Outsourcing Costs 11,000 3,000
New Market Development 40,000 240,000
Software Costs 6,000 6,000
Others 10,375 28,500
Professional cooperations (GDS, IDS.) 140,000 120,000
Total R&D Costs 207,375 407,500
G&A
Office 62,887 68,604
Communications 18,585 23,531
Professional Services 68,500 118,000
July 2017

remaining.
the competition.
Capital Equipment 21,100 0
Salary & Training 88,283 192,187
Travel 54,750 66,900
Others 35,248 93,549
Total G&A 349,353 562,772
S&M
Professional Services 68,500 118,000
Advertising Costs 450,000 950,000
Conventions & Flights 12,000 12,000
Total S&M 530,500 1,080,000
Total Unexpected Costs 163,084 307,541
Total Operating Expenses 1,250,312 2,357,813
July 2017

Karin Savitsky is CEO and founder at Jetta. Karin holds B.A.
from Wingate Institute. In past she established and operated her
own business in the field of personal training and lifestyle. Karin
grew-up from Heseg Foundation (fund of lone soldiers with
criteria of excellence and leadership). Karin established and
managing JettaPlus during last 2 years. Fluent in Hebrew and
Russian.
Alexey Zatsepin is CTO and founder at Jetta. Alexey holds B.A.
in Computer Sciences of UC Berkley's, and gained 10 years of
experience in applications development as Fullstack. In the last
5 years specializes in providing technical response (at level of
CTO) associated with Web development (SaaS & PaaS).
Currently serves as the company’s CTO. Fluent in Hebrew,
Russian and English.
TEAM
July 2017

Emma Butin is an international award winning entrepreneur, author
teacher and adviser. In 2008 Emma founded Kryon Systems, The
company won world wide numerous awards. Emma holds 3
technology patents and entrepreneur awards, including the Stevie
Award for a Finalist Best Entrepreneur in EMEA. Today Emma is an
blogger, international speaker and teaches at the IDC. Emma holds
a BBA, a JD and is fluent in Hebrew, English and Russian.
Prof. Israel (Izzy) Borovich , advisory Over 20 years of
experience in Aviation and Transportation. Former Chairman of
the Board at EL AL, President and CEO at Arkia. Experienced
lecturer and mentor in the aviation and transpiration industries
worldwide. Fluent in Hebrew and English.
TEAM
July 2017

ADVISORY BOARD
Over 20 years of experience in
Aviation andTransportation.
Former Chairman of the Board
at ELAL, President and CEO at
Arkia.
Commercial Strategy
Consultant - Aviation & Travel.
Network Growth Manager at
EasyJet and Jet2.
Senior Consultant at Sabre.
Stuart BarwoodProf.Israel( Izzy) Borovich Cobi Bitton
Over 25 years of experience in
counseling businesses. He was one of
the entrepreneurs and founders of the
SEC & serves as the CEO of Israel -
Greece Chamber of Commerce.
July 2017

PARNASA 62 – Tech Fund
An Israeli company managed by Parnasa Nihul Basad Ltd, seeking to raise $3.496 million in
equity capitalization.
The Company’s investment objective is to generate superior long-term capital appreciation
through private equity investments in early-stage private companies primarily based in the
United States and Israel.
The Investment Manager is controlled by Eliezer Gross who holds a controlling interest of
management shares of the Company. The Investment Manager will be responsible for the
Company’s investment strategy and the management of the Company. He will perform all
day-to-day investment and asset management functions for the Company, subject to the
supervision and direction of the Company’s Board of Directors.
The Company has been formed to make seed and early-stage investments in the common
stock and preferred stock of start-up technology ventures located in Israel.
July 2017

FUND STRUCTURE
FUND LIFE(TERM) The Company’s existence is perpetual and therefore dissolution
and/or distribution of all or part of the Company’s assets are not
expected at any time in thefuture.
MINIMUM PURCHASE 6000 shares = $16,994.
OFFERING &EXPENSES Fund will bear all costs and expenses
EXPENSE RESERVE Investor shall be charged 6% as Expense Reserve
TAXATION The Company is being treated as a corporation under the Israeli tax
laws.
FISCAL YEAR END December 31
CARRIED INTEREST 25%
July 2017

The Company intends to invest substantially all of the proceeds of the sale of Shares offered in the
existing portfolio.
In addition, the Company may invest (or reinvest proceeds of exited investments) in one or more other
start-up technology ventures fromtime to time subject to the availability of resources.
The Company intends to have multiple closings so that any money that comes in can immediately be
used by the Company even if it is belowthe total amount of capital sought to be raised pursuant to the
official offering.
Investment Strategy
June 2017

Eliezer Gross,
Founder and Chairman
MANAGEMENT TEAM
With over 30 years of experience launching business ventures in
Israel, the United States, and Europe. He was a founding
partner of the American GBM Group, and of the largest retail
chains in Israel. Active in dozens of start-up initiatives and
companies worldwide, he knows the U.S market inside and out
and has been influential in developing many new products.
His keen business acumen has led him through the doors of
dozens of leading companies – primarily from the Fortune 100
including: Johnson & Johnson Corporation, CBS Studios,
Goodyear Tires, et al.
July 2017

Cobi Bitton
CEO, Besadno Group
Mr. Bitton is an entrepreneur, organizational consultant, and expert in
business development and the study of entrepreneurial business
models. He holds a Bachelor's degree in Industrial and Management,
an MBA and is highly knowledgeable about conventional industrial
production, environmental issues, and safety and security products.
He was one of the entrepreneurs and founders of the SEC (Safe
Evacuation Coalition) - an advocacy group formed by companies, and
dedicated to promoting advanced emergency means of egress
solutions in the global market.
He has been counseling businesses, entrepreneurs, startups and
corporations for the past 25 years, empowering clients in the American,
Eastern and Central European, Latin, Russian, and East Asian markets,
among other locations. Cobi serves as the CEO of Israel - Greece
Chamber of Commerce, voluntarily.
MANAGEMENT TEAM
July 2017

Gabby Hasson
CEO, Bseed Investments
Gabby is the CEO and Co-Founder of Bseed Investments, with
over 25 years of proven experience in the Investment, IT and
cutting-edge technology space in navigating and uncovering
opportunities for excellent growth and profitability.
Previously, Gabby held management, Investment, and business
development positions, at CB Alliance (VC), IBM, and HP, as
well as Mashik Consulting and CTI. He specialized in
uncovering and enhancing solutions for Mobile Telecom,
Banking, and Online Marketing. Gabby gained vast experience
with IBM's Global Technology Unit (GTU), that focused on
startups and innovations.
MANAGEMENT TEAM
July 2017

Mr. Eliashiv (LLB) is the Head of Development in the
Besadno Group. Oded has vast experience in the Israeli
startup industry, having led numerous ventures in leading
companies including Excellence Capital Group (Singapore),
Excellence AgriTech Solutions (Cambodia), Slyde,
ElectroPep, Beyond Interactive and Epos Technologies.
Using his extensive experience in the startup ecosystem,
Oded is now advising early-stage startups and providing
them with the mentoring and fundraising assistance.
Oded Eliashiv
Head of Development,
Besadno Group
July 2017
MANAGEMENT TEAM

Jetta

More Related Content

What's hot

Similar to Jetta

Jetta