Prasad Gundumogula: The other two factors that impact seasonality – the other two factors that adds the 5% seasonality is the prices in the second quarter, the price of this the airline tickets or the transactional cost, okay, is very high. And people have usually when the prices are high, they look for alternative options and look for the other quarters to travel, and we see that trend based on this shopping requests what we are receiving for the future periods. So this is supported and which we believe that we want to continue in the future period and may increase the transaction count there. And the second aspect is the recovery. So remember that we are only recovered off 88% of our pre-pandemic levels. And as the international markets are opening, and that more and more travel is coming, so it is changing these dynamics day-by-day.
So it’s not a linear thing or to follow the historical trends, but also we have to factor in all these important changes and the trends into consideration and which we believe that the second and third and fourth quarter would be better than second or first quarter. And thirdly, we are a growing business. So we are not thinking about ourselves as just following the trend of last year and doing that. It’s about how we take the market share. The market may be having the same seasonality effect, but we plan to take more market share from other players and that will increase our numbers may be different from the previous quarters. Over to you, Orestes.
Orestes Fintiklis: Yes. And one last point. I mean, I think Prasad and Jim covered all the points, but one last point is that if you look at the last 12 years of our history, Q2 is not our strongest quarter. I mean Q2 in 2022 was a very strong quarter particularly because you had Omicron in Q1. So a lot of the travel that was going to happen in Q1 happened in Q2, right? So you have that element of the equation for 2022, in particular. But as far as Mondee is concerned, traditionally our strongest quarters were towards the end of the year, specifically Q4. And to that, you have to add all the elements that Jim mentioned, the change in seasonality in geographies we have added, the growth that Prasad mentioned, so if you add all these three, four variables we are very confident that Q3 and Q4, which will be much stronger than Q2, which itself is an exceptional quarter, so…
Brett Knoblauch: Thank you guys for the future. Congrats on the quarter.
Operator: Thanks Brett. [Operator Instructions] Our next question is from Mike Grondahl from Northland Securities. Make your line is now open. Please go ahead.
Mike Grondahl: Hey thanks guys. Just a couple more questions on the $20 million investment. How would you describe the mix between peer or direct marketing and personnel cost? And then secondly, would you say the marketing dollars are more targeted at influencers or agents. And I’m just trying to understand, in the marketing what will the hook be for each one?
Jim Dullum: So I’ll – hey Mike, it’s Jim. I’ll start. So I’ll let the last part first. I mean, look the hook here is if you think about the whole Millennial, Gen Z – the whole Millennial, Gen Z buying population, which is now the most significant buying population in travel, I mean these are tech-savvy people to begin with, right? And they are looking for – they are the ones that have most embraced all of the Generative AI features that have come out anywhere in any industry vertical. So the hook here is you have, I mean, this is not just AI supporting a little bit of shopping. This is AI supporting the entire experience creation, the entire ability to go hyper-local, et cetera. So when you think about that, the hook here is just going to be, it’s more than just the new toy.
