Online digital marketplace for air taxis - like Uber

1. 1
ΩΩTHE DIGITAL
AIR TAXI
TRAVEL
MARKETPLACE Investor
Presentation

2. 2
IMPORTANT DISCLOSURES
OfferBoard Securities, member FINRA/SIPC, has been retained by the issuer as its private placement agent.
This investment opportunity is being offered exclusively to Accredited Investors as defined under Rule 501 of
Regulation D of the Securities Act of 1933.
Securities acquired in private placements are not publicly traded and therefore less liquid. Investing in private
placements requires high risk tolerance, low liquidity concerns, and long-term commitments. Investors must be
able to lose their entire investment. The issuer may require more capital in the future to continue growing, with no
guarantee that it will be successful in securing it.
Purchase of the shares subjects the prospective investor to a number of material risks. These risks include but
are not limited to (i) development stage of business, (ii) inadequacy of funds, (iii) dependence on management,
(iv) risks associated with expansion, (v) development of customer base and market acceptance, (vi) competition,
(vii) possible fluctuations in operating results, (viii) risks of borrowing funds, (ix) unanticipated obstacles to
execution of the business plan, (x) management discretion as to use of proceeds from this and other financings.
This document does not constitute an offer to sell or a solicitation of an offer to buy any security and may not be
relied upon in connection with the purchase or sale of any security. Any such offer would be made only by means
of a formal private placement memorandum. Offers and sales will be made only in accordance with applicable
securities laws and pursuant to the private placement memorandum, subscription agreements and other definitive
documentation.
By accepting these materials, the recipient agrees to keep confidential the information contained herein and made
available in connection with any further investigation of the issuer. These materials have been prepared for
informational purposes relating to this transaction only and upon the express understanding that they will be used
for only such purposes. The recipient shall be entitled to rely solely on the representations and warranties made
to it by the issuer in any definitive transaction agreement. OfferBoard Securities does not make any express or
implied representation or warranty as to the accuracy or completeness of the information contained herein.

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OUR VISION
Linear Air’s vision is to transform regional travel by
making it as easy to schedule an air taxi as it is to
book an Uber

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APP FEATURE ROLLOUT
Customer App
• Transition existing email/
web-based Booking
process
• Check-in and trip mgmt
Operator App
• Transition existing email/
web-based Trip acceptance
process
• Pax Check-in and trip mgmt

5. 5
• $2.9 mil total marketplace billings YTD
• $1.5 mil air taxi segment billings YTD
– Sept YTD up 230% YOY
– Sept up 250% over Sept 14
• Air taxi segment customer acquisition campaign success
– Air taxi segment search customer acquisition cost (CAC) $601
– Air taxi segment overall CAC including Kayak, WOM, etc. $312
– Target 12-mth Customer Margin Value $1,000
• Air taxi operator acquisition on plan, expanding to SE and SW
• Kayak optimization increasing Internet Travel Search visits
• Tech leverage to sales and ops, informing app planning
SEPTEMBER 2015 UPDATE

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AIR TAXI BOOKINGS 2015 VS 2014
As of Sep 30

7. 7
THE TEAM
WILLIAM HERP
CEO
Founded e-Dialog,
leading venture-
backed digital
marketing technology
company sold to GSI.
Founded Eclipse jet
operator AirDialog.
PETER SCHMIDT
SeniorTechnologyAdvisor
Founded Midnight
Networks, a leader in
network testing. Serial
entrepreneur in
technology development
and market launch.
Former GM AirDialog.
SCOTTHEALY
SeniorMarketplaceAdvisor
MELISSAO’SHEA
VPSales&Ops
International sales for
B2B network tech
company Empirix.
JOEL BROWN
Former SVP of WW Ops
at OpenTable,
Intuit VP/GM.
CLAYTON CHRISTENSEN
Harvard Business School
Professor, author of “The
Innovator’s Dilemma”
EDWIN BRENNINKMEYER
CEO of Oriens Advisors, UK-
based aviation consultancy.
Linear Air Investor. Pilot.
MANAGEMENT
ADVISORS
SANTO POLITI
Co-Founder and General
Partner of Spark Capital
Worked with Mr. Herp at
e-Dialog. Ran B2B online
marketplace BuyerZone
and B2C marketplace
Care.com, which went
public in 2014

8. 8
DIGITAL
MARKETPLACE
VALUES
$10B
$5B
$1B
$50B
$100B

9. 9
• Air Taxi fills a real and growing need
• Better passenger experience
• Operators benefit
• Our digital marketplace will grow the market
• Linear Air and its investors will benefit
THE AIR TAXI
OPPORTUNITY

10. 10
AIR TAXI: THE TIME IS NOW
Painful
Hub-to-Hub
Cutting
Time Consuming
Antiquated
Pleasant
Point-to-Point
Expanding
Optimum
Cutting Edge
Regional Travel
Airports
Routes
Travel Duration
Technology
Airlines Air Taxi

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AIR TAXI: BEST SOLUTION FOR REGIONALTRAVEL
SERVICE
LEVEL
REGIONAL
COVERAGE
PRICE
NO
UP-FRONT
FEES
AIR TAXI
CHARTER
FRACTIONAL
SUBSCRIPTION
EMPTY LEG

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AIR TAXI BOOKING TODAY
Inconvenient
Process for
Passengers
Inefficient, Manual
Processes for
Operators
• Identify and seek out
operators
• Telephone to get:
- Availability and scheduling
- Fare quotes
• Await call backs to confirm
• Reservations take time
and effort
• Multiple telephone calls
• Aircraft availability
• Pilot availability
• Booking
• One on one telephone
price quoting
• Manual payment
processing

13. 13
DIGITALMARKETPLACE IS FRICTIONLESS
For Passengers
Incentives for
Operators
• Real time booking
• Online fare quotes
• Secure payments
• Notifications
• Customer support
• Decreased hands-on time
• Increased # flights
• Real time data
• Business analytics
• Cash management
• Quickbooks integration

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$500M CURRENTMARKETHUGE GROWTH POTENTIAL
• $17.4B total U.S. market
• 14% of US Domestic Air Travel
• 10,000 potential operators
Total
Available
Market
• $1B potential billings
• 900 Operators, 2000 Aircraft
• 4 trips/aircraft per week
Serviceable
Addressable
Market
• $500M billings
• 900 Operators, 2000 Aircraft
• 2 trips/aircraft per week
Current
Air Taxi
Market

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THE MARKETPLACE PLATFORM
LinearAir.com
• Traveler and operator portals
• Domestic airport Geosearch
• Pricing per seat, per plane
• Customer Relationship Mgmt
(CRM) and transaction database
• Operator payment processing
• Analytics
mobile design concept

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A BETTER SOLUTION
Linear Air Others
• FAA approved
• No upfront fees
• High service level
• Attractive per seat pricing
• No aircraft ownership risk
• Upfront and/or subscription fees
• Lack operations integration
• Manual reservations
• Jets uneconomic for regional travel
• Narrow availability

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GO-TO-MARKET
STRATEGY
• Awareness marketing to reinforce strength in the
Northeast
• Broaden geographic presence in mid-Atlantic states
• Increase operator base
• Market rollout and expansion

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RECENT
COMPARABLE
Overview
• Uber for helicopters (and
seaplanes)
• Charter / scheduled / crowd-
sourced options
• Raised $6M @ $25M valuation in
May 2015
§ 6 investors including Eric Schmidt
(Google) and Barry Diller (IAC)
• Mobile-first / app focus

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COMPETITION
Air Taxi
Know How
Digital
Marketplace
Platform

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TECHNOLOGY
DEVELOPMENT
ROADMAP
Application Development Platform Development
• Consistent desktop & mobile user
experience
• Visual presentation explaining Air
Taxi value
• In-app marketing
• Personalized interaction
• Pilot management, scheduling and
reporting
• Fleet, customer & marketing
enhancements
• Volume-based infrastructure
extensions

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SCALING THE BUSINESS MODEL
• Acquire Customers
– Expand online search and distribution partners – expand
“reach”
– Increase new and repeat customer business
• Acquire Operators
– Show demand and increased revenue potential using
platform
– Increase number of operators
• Expand digital marketplace technology platform
– Add additional airports, operators and customers
– Add routes, schedules, and price and quoting information
• Expand regional presence
– Market rollout to key metro areas
– Increase origination & destination airport matrix to serve
1000+ airport pairs
30+MetroAreas
1000+
Airport
Pairs
125+
Operators
65kTrips

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Financials and
Fund Raising
• Projections
• Series B terms
• Use of Proceeds

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SUMMARY PROJECTIONS
$ thousands 2014 A 2015 2016 2017 2018
Billings $2,360 $4,062 $9,063 $22,896 $48,872
Revenue $315 $495 $1,546 $5,099 $12,425
Operations 267 276 537 990 1,851
Sales & Marketing 339 506 1,210 1,614 2,224
Product Development & Tech 187 316 655 896 1,218
G&A 290 192 737 999 1,487
Net Operating Income $(768) $(794) $(1,593) $600 $5,645

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KEY METRICSAIR TAXI SEGMENT
2014 A 2015 2016
Trips – Air Taxi Segment 289 875 2981
Avg Billing per Air Taxi trip $2,813 $2,570 $2,526
Margin % of Billings 11% 13% 18%
Customer Acquisition Cost $557 $301 $300
12-Mth Avg Customer Margin $619 $668 $909
Number of Air Taxi Operators 3 26 75

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SERIES B TERMS
Minimum Offering $1.5 million
Maximum Offering $3.5 million
Price per Unit $1.30
Pre-Money Valuation $4.66 million
Minimum Investment Size $25,000
Security Type Preferred Equity
NB: Subject to change

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PRINCIPALUSES OF PROCEEDS
2015 2016 2017
Customer Acquisition
- Team $45 $280 $460
- Marketing Programs $461 $930 $1154
Apps and other Technology
- Software development $271 $520 $651
- Platform operations $45 $135 $245

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Appendix
• Current Mobile-Optimized Website
• Testimonials

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HOMEPAGE

29. 29
CUSTOMER TESTIMONIALS