Travelzoo Shares Plunge Following Update: Sees Cut of Sales from Search ~25% in Q4, Names New VP of Product Development
Travelzoo Inc. (NASDAQ: TZOO), a global Internet media company, today announced the appointment of Mr. Eddie Garcia as Senior Vice President of Product Development, strengthening the company's leadership in Search. The appointment comes after a year of declines in Travelzoo's Search revenues, which accelerated further in the fourth quarter ending December 31, 2013.
Travelzoo expects to report a decline in revenues from its Search business segment of approximately 25% for the fourth quarter, 2013, compared to the prior-year period, predominantly as a result of users migrating to search via mobile. A key component of Mr. Garcia's role will be to monetize search on the mobile platform, which currently lags behind the results seen from desktop. Travelzoo's Search business segment includes its comparison tools Fly.com and SuperSearch.
Mr. Garcia joins Travelzoo from eBay Inc., where he held numerous product and search roles beginning in December 2003. Since September 2010, he has served as Director, Marketplace Business Incubation. From January 2009 to September 2010, Mr. Garcia was Director Global Search Experience. From September 2007 to December 2008, he was Director, Global Search Products and Pricing. Mr. Garcia holds a B.S. in Mechanical Engineering and a Masters of Business Administration from Stanford University.
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