Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Gogobot CEO’s Advice for Facebook

Details

  • Description

    Gogobot CEO Travis Katz on his company’s growth and his advice for Mark Zuckerberg.

  • Duration 4:37
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Of go -- -- well it's kind of like the FaceBook of travel in the company is banking on becoming the next big thing out of Silicon Valley.

Travis Katz is the CEO and former managing director.

-- MySpace international which -- -- to us that combat and I remember being.

With my nephew -- was about fourteen at the time -- all of his friends were doing MySpace she's twenty now but.

And then of course we know the story MySpace completely fumbled FaceBook picked up the ball and -- get but.

First of all thanks for joining us on this day and as you look at the trading in FaceBook having gone public what goes through your mind.

Well you know.

If I look at the numbers you know write off about the market as a whole is having a terrible day -- FaceBook is doing pretty well relative to the markets I think that's actually a pretty strong start.

But is exciting I think it's an exciting day actually get sort of signals.

You know our new -- and and where the Internet is today where it's going in the future.

-- you know and that that's the thing I mean MySpace was bought by News Corp.

Back and I believe 2006 News Corp.

the parent of our network.

And after that it was really did not do much at a time one FaceBook was growing exponentially -- the question is you on the inside.

What mistakes do you feel that MySpace in general not necessarily you write off about that MySpace did they make and do you see that being repeated -- all of FaceBook.

Yeah I would just just on the numbers I mean it's it's not exactly right -- didn't that things didn't go well after.

To -- -- required at News Corp.

acquired MySpace MySpace had about 25 million users -- a year and a half later they had a 125.

Million users have a site actually grew dramatically in the revenues went from.

About a 125 million to about 900 billion -- revenue so this -- actually did quite well for the first eighteen months or so after the News Corp.

acquisition.

-- at -- time FaceBook was really a pretty small companies have that wasn't being used outside of -- the college scene.

But we did see is FaceBook eventually came -- and and ultimately eclipsed MySpace and I wonder why there -- a lot of us.

Yeah I think there -- a lot of lessons he learned I think the biggest lesson to be learned is that.

-- the Internet is a story of disruption I mean if you look five years ago it who would be untouchable giants of the Internet -- would be companies like AOL MS and Yahoo! eBay.

I'm -- there's a whole new generation of companies companies like FaceBook that -- completely transformed.

What people expect the Internet to do com.

I think get MySpace you know -- -- required -- this -- acquired by News Corp.

when it was still very young company act.

It grew so big and became perceived as having -- that this social networking market.

And I think at that point News Corp.

started -- a lot of pressure on -- company to just focus on near term monetization is as opposed to thinking about.

Long term product strategy and how do we make sure that we stay on top of things I think.

FaceBook took a very different pushed back approach that didn't focus somewhat station -- all nearly days wealth and instead just focused purely on.

Building the best user experience I think that's ultimately what won the game.

So that's rearview mirror for you would now go go body is your present and future at the moment this of course is known as -- sort of the the real trusted travel -- -- area -- the -- the service.

How to do you know you you've gotten some several million dollars in venture capital funding.

And -- member growth exponentially.

Moving here and I and I want these numbers you know you're getting a new member every fifteen seconds.

It when you take this thing public what.

-- you do differently from when you're at MySpace.

I I think the key is to really think long term about how do you make sure you're always delivering the best.

User experience -- -- bought today you know -- like -- travel services.

We make it easy for people plan their trips by allowing them to touch tap into tips and advice from the people they trust the most.

Their friends there -- there -- colleagues and other travelers like them.

As opposed to relying on our trusting your vacation to anonymous reviews like you might -- -- trip advisor.

I think when we look to the future we see a lot of opportunities both in the mobile space were investing quite heavily and we're doing very well.

As well as in terms of increasingly personalizing the experience and focusing.

You know quite.

Specifically on just making people's lives easier making your experience faster and make it more fun.

Well that's what it's all about and and I love that spirit that you guys out here in Mountain View have where.

You know we one thing doesn't work you try something else it's really the American way and we love it Travis keep us posted on -- -- -- and all that's happening there.

Thank you so much for good to have you thank you so much Travis Katz.

Load More