PRIVATEFLY.COM SECURES FIRST PHASE OF FUNDING
PrivateFly.com, the online booking network for private jet charter, today announces that it has completed
the first phase of its present funding round.
The investment capital will be used to increase marketing spend and to recruit further sales people and a
head of web, whose core focus will be the usability of PrivateFly's online platform for both
customers and registered operators.
PrivateFly's chairman, David Scowsill, comments: "We are pleased to announce completion of this first phase of
funding which will help us to further drive our business in the UK market, and to develop a presence
in new European territories.
"PrivateFly presents an exciting and disruptive hybrid business model, bringing a highly fragmented and
traditional market together in an efficient online marketplace. Crucially it tackles the historical
barriers to charter by combining price transparency with industry expertise and consistent,
VIP customer service. This first round funding demonstrates investor confidence in the private jet
charter market and underpins PrivateFly's continued growth."
PrivateFly has been advised in this first phase of funding by IDJ Limited, a leading, independent corporate
finance adviser to owner managed businesses and to companies traded on the public markets.
The offer remains open to professional and sophisticated investors until 31 July 2010.
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