Pax

Pax

Early Stage

The On-Demand Airline That Has a Low Cost Per Seat

The On-Demand Airline That Has a Low Cost Per Seat

Overview

Raised this Round: Raised: $32,850

Total Commitments ($USD)

Platform

StartEngine

Start Date

10/01/2017

Close Date

12/29/2017

Min. Goal
$10,000
Max. Goal
$107,000
Min. Investment

$500

Security Type

Equity - Common

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.00

Pre-Money Valuation

$3,595,166

Year Founded

2008

Industry

Travel and Hospitality

Tech Sector

Hardwaretech

Location

Thousand Oaks, California

Tired of not being able to fly in your own private jet? Feeling like first class just isn’t cutting it anymore? Don’t have celebrity status to have your own jet? Well, with PAX you don’t have to. PAX aims to make jet charter cheaper for passengers and more valuable for operators.

Let’s say you want to take a trip that is about 300 miles. That feels too long to drive, but you’re limited by predetermined airline flight times. If flights are limited, then your flight time, especially if there are any layovers, might end up taking just as long as driving. Well, with PAX, you still control the on-demand part of your trip, but you then have an agent-based virtual negotiations with other passengers and charter operators. The result is creation of flights that meet your goals and are shared by other passengers. You then decide if you want to commit to the flight with a payment, place a hold and pay later, or simply be informed of changes as they occur.

Co-founders Mike Azzarello and Bruce Sawhill have had their fair share of flying around in the $23 billion per year private charter market. Mike founded JetLimo and Bruce founded DayJet, two companies that are similar to PAX. However, when those companies didn’t quite find the success their founders were looking for, the two learned from their mistakes, put their heads together, and founded PAX.

Flying on a private jet can bring the pleasure back to what often feels like the chore of flying. Don’t get me wrong - I have no idea about this from personal experience - but I can imagine. Apparently so can a lot of other people. Luxury is a hot commodity these days, and if this takes off, it could be like the next Airbnb….but, you know, with personal jets. If you dream about flying in luxury, this might be the dare-to-fly investment for you. If you’re okay with waiting in security lines with the rest of the common folk, well….you might want to let this jet charter its own way.
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
WingTips 04/28/2024 Wefunder $12,000,000 $3,950 Convertible Note Not Funded RegCF
WingTips (previously Personal Airline) 11/17/2022 Wefunder $25,000,000 $123,775 Convertible Note Funded RegCF
Personal Airline 11/11/2019 StartEngine $3,625,266 $18,659 Equity - Common Funded RegCF
Pax 12/28/2017 StartEngine $3,595,166 $32,850 Equity - Common Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Pax on Start Engine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $3,595,166
Price per Share: $1.00

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