Flewber Global

General Information
Business:

Our Mission

We are bringing the convenience of on-demand ride sharing from the street to the skies.

Our Flewber App is free to download on Apple Play & Google Store.

Flewber is a technology powered, private air transportation company. (Incorporated in Delaware)

Founded in 2018, as a result of the incorporation of our wholly owned subsidiary, Flewber Inc., in August 2018, our motto “Simply Private” encapsulates our belief that private air travel no longer needs to be a luxury reserved for only those with the means. Rather, our goal is to make private air travel a passenger-first manner of travel, which can and should be a more inclusive and accessible mode of transportation for a larger addressable market share, made possible through properly applied technology, use of more conveniently located existing infrastructure and operational efficiencies.

We believe that the functionality of local and regional air travel has significantly deteriorated over the past few years and that it no longer adequately serves the average air traveler. We believe that private air travel should be a simple and affordable alternative that provides travelers with the freedom to travel how they choose and with the ability to travel from place to place quickly, directly and at times that are convenient for each traveler. We also believe that passengers are entitled to choose where they depart and land, as well as their preferred date and time of travel. Further, we believe that passengers highly value their time, and will consider alternative forms of air travel to an antiquated commercial airline network or other modes of transportation, if it will save them time.

We have made focused and substantial investments in support of our mission. For example, to continually launch new innovations on our platform, we have invested heavily in research and development. In 2018, we completed the strategic acquisition of Ponderosa Air, LLC (“Ponderosa Air”), which provided us with a Federal Aviation Agency (“FAA”) certified air-taxi operation. Since the acquisition of Ponderosa Air, we have made further investment in upgrading both management of our air-taxi operation, and expanding its FAA certificate authorities.

Our Flewber App was originally launched in May of 2019 and offered consumers the ability to book individual seats on scheduled private flights operated by our subsidiary, Ponderosa Air. Our original geographic service area was comprised of regional airports in the greater tri-state area of New York, New Jersey and Connecticut and provided scheduled flights to and from localities such as Boston and Martha’s Vineyard. Today, our expanded current offerings no longer offer individual per seat bookings on scheduled private flights in the tri-state area, but rather, they give private air travelers both a traditional and technology driven means of booking their local, regional, and international flights, operated exclusively by third party air carriers, through our Flewber Luxe air charter brokerage division, and the Book, Bid and Share platform of the Flewber App, respectively, each of which was designed with the intention of putting the booking preferences of the passenger at the forefront. The technology driven Flewber App operates by using algorithms and data analytic engines specifically developed for the Flewber App in order to provide a more efficient and accurate booking process for private flights. Notwithstanding that our current Flewber App has been operational since May 2019, flights booked using the Flewber App through July 17, 2023 have been minimal.

**Note: Net loss and revenue figures are for the 12 months that ended Sept. 30, 2023. 

**Note: Revenue came from Flewber Luxe, the on-demand concierge aviation service for ultra high net worth individuals.

(Note: Flewber Global cut its IPO’s size to 1.78 million shares (1,777,778 shares) – down from 2.22 million shares – and kept the price range at $4.00 to $5.00 – to raise $8.0 million, according to an S-1/A filing dated May 28, 2024. The company also disclosed that EF Hutton is its new sole underwriter – replacing ThinkEquity. Flewber Global also said in the S-1/A filing that it has changed its listing to the NYSE – American Exchange from the NASDAQ. Background: Flewber Global trimmed its IPO’s size to 2.22 million shares – down from 3.33 million shares – and kept the price range at $4.00 to $5.00 – to raise $8.88 million, according to an S-1/A filing dated Feb. 8, 2024.)

(Note: Flewber Global named ThinkEquity as its sole book-runner, replacing Joseph Stone Capital, in an S-1/A filing dated Dec. 28, 2023. Background: Flewber Global trimmed its IPO in an S-1/A dated Dec. 4, 2023, to 3.33 million shares – down from 3.75 million shares – and restored the price range to $4.00 to $5.00 – a change from the assumed IPO price at $4.00, the low end – to raise $14.99 million.)

(Note: Flewber Global filed an S-1/A dated Nov. 20, 2023, in which it named Joseph Stone Capital LLC as sole book-runner to replace Maxim and Joseph Gunnar as joint book-runners – and changed Its IPO’s structure to a stock-only deal from it initial status as a unit IPO. In the Nov. 20, 2023, filing with the SEC, Flewber Global revamped its IPO as a stock-only deal that will raise more than twice the amount of money that its previous unit IPO terms had called for: 3.75 million shares – up from 1.56 million units – at an assumed IPO price of $4.00 – the low end of its previous range of $4.00 to $5..00 – to raise $15.0 million – up from $7.02 million under its original terms. Flewber Global also updated its financial statements through Sept. 30, 2023, in the S-1/A filing dated Nov. 20, 2023.)

(Background: Flewber Global filed an S-1/A on Sept. 26, 2023, in which it disclosed the terms for its unit IPO: 1.56 million units at $4.00 to $5.00 each to raise $7.02 million. Each unit consists of one share of common stock and one warrant to buy one share of stock. Flewber Global also changed its proposed symbol to “FLAI” from “FLYF” for the NASDAQ listing of its stock. Background: Flewber Global filed its S-1 on July 18, 2023.)

Industry: Air Transportation - Aviation Ride-Sharing App
Employees: 12
Founded: 2019
Contact Information
Address 1411 Broadway, 38th Floor New York, New York 10028
Phone Number (833) 359-5893
Web Address https://www.flewber.com/
View Prospectus: Flewber Global
Financial Information
Market Cap $42.42mil
Revenues $2.92 mil (last 12 months)
Net Income $-2.12 mil (last 12 months)
IPO Profile
Symbol FLAI
Exchange NYSE - American
Shares (millions): 1.8
Price range $4.00 - $5.00
Est. $ Volume $8.0 mil
Manager / Joint Managers EF Hutton
CO-Managers
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change