Tripadvisor names media exec Matt Goldberg as CEO beginning July 1

Matt Goldberg, a veteran media executive who served as CEO of Lonely Planet from 2009 to 2013, will become CEO of Tripadvisor from July 1, succeeding co-founder Steve Kaufer who announced in November that he would step down.

“We are thrilled to announce the appointment of Matt Goldberg as CEO,” said Greg Maffei, Chairman of Tripadvisor’s Board of Directors.

“Matt has a proven track record of leadership and strategy and operations experience for over 20 years at a number of leading media, advertising and consumer companies. We welcome him to the team and look forward to his expertise as he leads Tripadvisor through the next phase of his journey.

Goldberg was most recently executive vice president, North America and global operations of media buying platform The Trade Desk. Previously, he held senior positions at News Corp and Liberty Media Corporation’s QVC Group – Tripadvisor Chairman Maffei is President and CEO of Liberty Media Corporation. Goldberg is also founding director of Dataphilanthropy, a nonprofit organization focused on creating programs to apply data to better address and understand economic disparities.

Goldberg’s announcement as CEO comes with the company’s first quarter financial results.

In a Thursday morning call with analysts to discuss those results, Kaufer said Goldberg’s extensive experience gives him valuable perspective.

“You can imagine we spoke to a number of very accomplished people who had done very well in their respective departments at very large companies, but I felt Matt’s ability to see the big picture was actually more valuable than a star player and a player who had either just sold or produced products,” says Kaufer.

“Again, there are many different ways to define the areas a CEO will be good at, but I like the breadth.” And he adds that “Tripadvisor is no longer a startup…we have a huge TAM ahead of us, a huge number of assets”, and he expects Goldberg to be able to reshape the business for l future, just as he did. at Lonely Planet.

“I couldn’t be more excited to join Tripadvisor, a company I’ve long admired, whose leadership and teams have built an incredible, globally recognized consumer brand with a unique place in travel and entertainment. digital media,” says Goldberg.

“I am extremely excited to return to the travel industry to innovate within the industry and leverage the reach of the platform and the trust of the community. I see a long path ahead of us and to many opportunities to create value for our travelers and our partners.

Kaufer co-founded Tripadvisor in 2000 and in November announced his intention to step down as CEO.

First quarter financial results

In a letter to shareholders regarding first quarter results, Kaufer said: “We are very pleased with our performance in the first quarter of 2022, which exceeded our expectations, and start the year well positioned to capture demand as travel leisure continues to recover and we continue to strengthen our offerings in all segments. Compared to our outlook in mid-February, we exceeded our expectations for the first quarter of 2022, thanks to strong performance in our experiences and dining segment, supported by a steady recovery in our hotels and revenue streams. display and platform.

Tripadvisor’s first-quarter revenue was $262 million, more than double revenue from the same period a year earlier and 70% from the same period in 2019.

First quarter adjusted EBITDA was $27 million, up from a loss of $26 million in the first quarter of 2021.

During the first quarter, Tripadvisor’s average monthly number of unique users across its branded websites increased 27% year-over-year and accounted for approximately 71% of the comparable period increase in 2019 .

Sales and marketing costs in the first quarter were $141 million, a 93% year-over-year increase, which the company says was primarily due to “an increase in our SEM spending and other online traffic acquisition spending in response to increased consumer travel demand. …”

*This story will be updated following Tripadvisor’s call with financial analysts on Thursday morning.