Jump On Flyways has inked a partnership with NewLeaf, a Canadian discount airline, a nice validation of their business. Jump On Flyways was the first offer funded on SeedUps Canada several years back.
Jump On Flyways will provide technology to allow potential airline passengers to bid for empty seats. A report in the Financial Post explains that airlines use complicated revenue maximization models to fill seats yet planes frequently fly routes with empty seats. Jump On, a Calgary-based company, has auction software to help fill those empty seats.
— SeedUps Capital (@SeedUpsCanada) July 21, 2016
Jump On Flyways raised capital on SeedUps in 2014. There is an interesting story in the Globe and Mail about the very first investor, for the very first crowdfunded offer on SeedUps and how the process went.
Elizabeth Hill (investor number one) told the Globe;
“Jump On is solving my problem, which I can only assume would benefit many other people. When I saw I was able to invest in Jump On Flyaways through SeedUps, it was a very easy decision for me. I personally will use Jump On Flyaways, I will also share their flights with family, friends and my social network as I really believe in what they are offering and I am tired of overpaying with the big airlines.”
Now Jump On is gaining additional traction in the marketplace.
According to Jump On, globally there are about 875 million airline seats that flew empty in 2015. In the US there were 156 million empty seats and 17 million in Canada. So there is a good size market for their services.
Jump On Flyaways also pitched on CBC’s Dragons Den. You can watch the video here (I wonder what the Dragon’s are thinking now):
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