The Best New Way for African Americans to Invest In or Start a Business
Professors, politicians, and prognosticators have-for years-implored the black community to "take all the money you spend on clothes, sho...
Jetpack's pilot program was launched in March 2017 at Stanford University
Established exciting brand partnerships with GoCubes Chewable Coffee, Blowfish for Hangovers, Sambazon Energy, and more
On every college campus, students need certain products right away! During these moments, stores are either too far or closed, or students just don't have the time or energy to travel. Traditional delivery platforms take too long because students and professionals are located in buildings or on campuses not easily accessible by the public.
1. Access to the nearest store is limited by long distances or early closing times
2. Many students on college campuses do not have easy access to public or private transportation. In fact, on many college campuses, freshmen are prohibited from having cars.
By stocking students with the right products, we enable super fast delivery via decentralized distribution. Sellers or "Jetpackers" can make extra cash just by going about their normal, daily activities around campus and fulfilling real-time orders.
Placing an order on Jetpack is super simple. The user simply picks what product he/she needs, and a Jetpacker will be arrive in a matter of minutes. Payment is also a breeze, since customers can store their credit card information on the app.
With little funding and a lot of pizza and bicycle marketing, we gained early traction at Stanford. We learned a lot from the beta launch which will help us grow faster and operate more efficiently, as we expand to more universities in fall 2017.
On-demand profitability has been challenging for many companies. Our business model and customer acquisition strategy enable positive profit margins while paying Jetpackers $20 per hour. With our initial plan to scale onto four campuses, we can target 39% gross profit margins.
Jetpack is well positioned to enter a lucrative market! The on-demand economy is large and growing. Economic activities centered around online platforms, where independent sellers can offer goods or services to customers, are attracting significant consumer attention and spending. The on-demand economy is attracting more than 22.4 million consumers annually and $57.6 billion in spending.
Who knows college students better than...college students?! Based on our experiences and understanding on campus culture, we identified the types of products and problems that are most crucial to students. We even started an innovative #whywejet photo series highlighting hilarious stories of students when they needed products right away.
We're focused on speedy delivery. The only area where large delivery companies cannot benefit from economies of scale is the final mile of delivery. We are focused on deliveries of less than 15 minutes.
Jetpack is in a unique position to play a role in the evolving ad space. Jetpack can serve as a sample discovery platform for students and a marketing platform for cool brands!
We're excited to work with companies who continue to push the needle and provide irresistible consumer experiences. We love introducing students to our awesome partner brands!
There are many groups that have influenced our journey and have chosen to invest in us. We're thankful for those who believe in our mission.
Dear Potential Investor,
First and foremost, thank you for learning about Jetpack! Our team is incredibly honored you took the time to learn about what we're building. I'll start by sharing my story. I believe my unique life journey is the reason I've built the resilience necessary to grow as an entrepreneur.
I was born in a small village in Mali. After coming to the United States at an early age to receive advanced medical support, I was faced with the challenge of growing up in New York City while struggling to learn English in a new schooling system. While initially scary, my journey allowed me to meet some of the best people this world has to offer, and it afforded me the opportunity to affect positive change in numerous ways.
During my tenure as President of Columbia University’s NSBE chapter, I helped minority students along their way to becoming engineers. At Procter & Gamble (P&G), I was selected out of 127 technologist applications to receive $20,000 in innovation funding to develop my idea of harnessing cheap magnetic technologies to deliver new-to-the-world products. As a result, I earned a "Transformative Research" award from the company. My next chapter involved making healthy living more affordable for people from all walks of life. While these opportunities have been extremely gratifying, I recognize that true global impact requires embracing the humanity of others and dreaming big.
I first started dreaming big as a senior engineer at P&G. I fell in love with consumer products and their potential, and became fascinated with how the simplest product could have the biggest impact on a person's daily life. I was also excited by the challenge of determining what the consumer wants even when he/she cannot yet articulate the answer.
After a successful beta launch on Stanford University's campus in the spring of 2017, Jetpack has spent the summer optimizing its business model and preparing for expansion. Moving forward, Jetpack will expand its reach to more college campuses and eventually densely populated cities throughout the country. It is our mission to get the products you need when you need them, whether it's late night snacks or crucial medication.
Jetpack represents the new wave of peer-to-peer service. Not only do we make our customers' days easier, we provide great opportunities for our sellers with entrepreneurial spirit and for students looking for new ways to connect with their peers. Join us as we revolutionize the way consumer products are discovered and distributed.
Founder & CEO of Jetpack
Your very own Jetpack laptop sticker to display your investment.
An exclusive Investor T-shirt and personal thank you message from our CEO on Twitter.
An official Jetpack backpack!
An official Jetpack backpack filled with exclusive products.
A Jetpack backpack filled with products of your choice and a handwritten framed letter from our CEO.
A personal thank you video from the Jetpack team and copies of all our favorite books.
An invitation to help design Jetpack's next backpack.
Fly out to San Francisco to have a luxury dinner with the team.
A Jetpack Party Bus with a lot of cool products for you and up to 10 people in a city of your choice.
A seat on the Jetpack advisory board and a chartered flight to spend an exclusive day of fun with our team.
Jetpack is a peer-to-peer delivery service for college students. We deliver the most popular, sought-after products within minutes.
Students simply download our app, pick the product they need and a Jetpacker will be over within minutes to deliver the requested products. Payment is super simple and takes place within the app.
Jetpackers are students! They carry our products in a Jetpack that may be used as their everyday backpack. Jetpackers can go about their daily routine and choose which orders to fulfill.
Anyone with a verified student email address on a campus where we operate may apply to become a Jetpacker. We prioritize approving Jetpackers across every dorm and region on campus so they are equally distributed.
Jetpackers get paid the equivalent of $20 per hour. For every product delivered, a Jetpacker can receive up to $5. In any given week, a Jetpacker can earn $150 with only 30 transactions. Our platform is engineered to minimize the energy needed to fulfill an order while maximizing our Jetpackers' entrepreneurial spirit.
Jetpack focuses on products students need right away. Items from our launch at Stanford included chewable coffee cubes, phone chargers, hangover cures, and other personal care products.
Jetpack partners with brands that can deliver value to college students. Once we identify a student need to be addressed on a specific campus, we target the best brands to resolve that need. If you think your brand or product would be a good fit for Jetpack, please contact us at email@example.com.
Yes! We first started as a health and wellness subscription company called mybestbox. We established numerous brand partnerships, shipped to customers in almost every state, and built our own end-to-end fulfillment center. We even partnered with celebrities such as Arianna Huffington!
Although we were growing each month, we quickly found there were opportunities to target a business model with a greater chance of accelerated growth. We tried a few things and quickly saw early success in an on-demand pilot test. Before we knew it, Jetpack was born!
Jetpack is already backed by Rough Draft Ventures (RDV) and early angel investors. RDV is a student team powered by General Catalyst, building and empowering the largest network of student founders.
Right now, we are completely focused on nailing the collegiate market. In the future, we think there are opportunities to enter select densely populated cities.
We're currently raising money on Republic to support our expansion efforts onto additional campuses.
This will involve acquiring new customers, paying Jetpackers to fulfill orders, and hiring a campus director. Every $50,000 of our pre-seed round will help us launch on an additional campus. We're also working to finalize a chatbot that will enable students to place an order with a simple SMS text.
We recently formed our Delaware corporation and are in the process of hiring our team full time, but as of the filing date, they are not employees by the legal definition. Additionally, our founders do not count as employees for the purposes of this disclosure. When we have final employment agreements, we will update this page with the news.
Jetpack successfully raised $250,965 from 801 investors on October 28, 2017
I like concept I am believe also new ideakalpesh patelInvested about 2 months ago
Hello I think Jetpack has a good eye deer on delivering goods to students on campuses. So I am increasing my donation of $50-$100Glenn RestoInvested 3 months ago
The pitch was fantastic, the concept is a no-brainer (really love the idea), and the founder appears to be super-driven. Best of luck with making Jetpack a success, team.Philip Arthur MooreInvested 4 months ago
I invested because I think Fatima Dicko, the founder / CEO, is going to win! I'm impressed by how she & her team quickly addressed every investor question, they had a reasonable valuation, and a great product. A case study on how to use Republic.Gregory StormInvested 4 months ago
I believe in the company’s potentialYoussef NiampaInvested 4 months ago
I believe in the team. See lot of potential. Sales with high margin. Money from Brands (local advertising, penetration into student market). Now need to scale up quickly before a competitor with more capital & strong team steps in. Never give up !!!KISHORE GADHIRAJUInvested 4 months ago
I like investing in startups, and with one daughter currently in college (and one recently graduated and another who will be there soon) I can certainly appreciate the business model.Kris HowardInvested 4 months ago
My friend's son, my Godson, Michael, is attending Rutgers and Jetpack is being used on campus. Nice connection & investment Gift idea for Christmas. In addition to his University Education, this will be the start of his Education in Investing!Michael MyatovichInvested 4 months ago
i like to see young entrepreneurs succeedPeter PerrecaInvested 4 months ago
P2P marketing and immediate delivery is the growing market. Good plan.Regan WoodInvested 4 months ago
Future opportunities!Daryl ShoemakeInvested 4 months ago
I honestly wish I had Jetpack when I was in college! The possibilities of Jetpack's growth span far and wide. I'm truly excited to be an investor in this.Clifton McMillan JrInvested 4 months ago
As a college student, it sounds great!Zac FutchInvested 4 months ago
I invested because I believe Jetpack will go big and I wan't to be in on it.Tokunbo AsunramuInvested 4 months ago
College students are severly limited physically as to the goods and services they need access to. As a former college student I felt isolated and limited and would have wanted access to the great things that JetPack is going to make availableWilliam FreemanInvested 4 months ago
I invested in Jetpack because Jetpack is providing a solution to a growing on-demand marketplace by targeting college students.Satish VenkatachalapathyInvested 4 months ago
I saw an article about JetPack on Facebook . I decided that if I'm going to start investing I want to invest with my own people. The fact that the founder is an African-American woman just like me made me want to invest plus the concept is brilliant.Traci DanielsInvested 4 months ago
Based on the recommendation of first stage investor newsletter.Thaddeus OnwukaInvested 4 months ago
I feel it is a great concept and early investing also recommended youWILLIAM SKYLESInvested 4 months ago
values to serve the public. go big!Shujun TangInvested 4 months ago
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