In principle, Blackjet sounds pretty cool. You pay a membership fee and the app allows you to book a seat on a private jet. Add celebrity investors like Jay Z, Will Smith, and Ashton Kutcher to the mix and the whole idea seems pretty solid.

Apparently not. Blackjet launched last October and it’s already in a tailspin. Depleted of funds and unable to raise anymore, a source succinctly summed it up: “They are fucked.”

The idea was after paying the hefty membership fee of $2,500 (R25,415), members would be able to effortlessly book seats on private jets to their destination of choice “in 10 seconds, with guaranteed availability.” This hasn’t been the case, and the lone customer review on Blackjet’s iPhone app calls the service horrible, complaining about the one month approval process and says she had less trouble getting into the White House.

Many people blame the company’s flamboyant former chairman and investor Shervin Pishevar. Pichevar, who’s never met a celebrity he hasn’t hashtagged, apparantly failed to follow through on the funds he promised to raise.

Regardless of who’s to blame, the app’s failure reminds us of the unpredictable impact of celebrity investors and social media sway.

[Source : Valleywag.Gawker]