Speaker unverified: belief

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…And they’re actually getting paid on the transaction fee then rather than just sort of the ad placement? Yeah. The reality is those transaction fees is they’ve always been a little bit blurry. A lot of the CPC deals had some kind of performance guarantee or you would get paid on a CPA and you normalize that back to CPCs. So it wasn’t all that different to go from the metasearch-type agreements to the Instant Book type agreements. The thing that was hard about it and I think Instant Book has had a relatively mixed track record. If you’ll get Trip Advisor’s stock performance, their financials you can see the challenges that Instant Book has had. It has had a huge impact on Trip Advisor’s monetization. We played around with it at Room 77. Kayak has done some of it. But it is not taken that much root among metasearch agencies. It has not become that dominant. I think one of the big reasons is it’s actually pretty hard to complete these transactions. You think of sort of all the edge cases that happen when you’re going to complete a booking – the credit card fails, the room is no longer available. All those kinds of issue. Packing gets lost. Like for whatever reason, the transaction doesn’t complete. If you’re doing that in your environment – And it's still a considered purchase for the consumer too, right? I mean you’re spending hundreds of dollars here.…

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