Jesus Portillo: And I think the only part of the question we haven’t answered directly is with regard to the platform cost of [indiscernible] is a complete AI platform. It’s not necessarily a travel platform. It’s a generic AI platform, and it has been completed and evolving since 2019. So with regards to having the platform in place, those costs have already been spent since it’s been development for the last four years. What we have been doing already is integrating parts of this platform into our own AI, right? So those costs are already also — a big part of those costs are already in place. Of course, there will be more cost going forward in further enhancing and providing new tools and new features to the AI, utilizing this very powerful platform, which again, to highlight, it’s really unique for a travel company to buy a complete AI generic platform.
Darren Aftahi: That’s all really helpful, Orestes. Maybe if I could just ask one follow-up. Have you been paying prior to the acquisition, Purple Grid consulting fees? And if so, just any sort of sense on quantifying that to understand what you’re paying them and how that changes once the acquisition is consummated?
Orestes Fintiklis: Yes. That is precisely how the relationship didn’t start. This company hasn’t been on sale or anything, no, neither do start the relationship as exploring purchase. The relationship started a year ago as working with them, integrating pieces of their technology in our own AI, right? So along the way, it became abundantly clear to us that it would be much more cost efficient and much more powerful to actually own this platform than basically keep working on a consulting basis. And number two, it became abundantly clear to them the value of accessing Mondee’s unique data, because there are a bunch of AI platforms out there that people have created and spend a lot of money on but the differentiating factor in AI is using actual data to train the model.
So along the way of working for a period of time, it became clear to them that there was a lot of value in being connected to our ecosystem. And if they came very clear to us, there was a lot of value in owning and that is why they have agreed to an all cash — sorry, an all share transaction because they are not really selling anything, they are actually buying a piece of Mondee and helping Mondee further on its path of AI integration.
Darren Aftahi: That’s helpful. Thank you.
Operator: Thank you. There are no additional questions waiting at this time. So I’d like to pass the call back over to Jeff Houston for any closing remarks.
Jeff Houston: Thank you, Bailey, and thanks to all who tuned in for our third quarter 2023 earnings call, whether it was here live on the call, a replay or reading the transcript. We really appreciate your interest in Mondee and welcome the opportunity to further connect with you. If you have any questions or would like to learn more about Mondee, please don’t hesitate to schedule a call with us. You can get more information at our IR site, which is investors.mondee.com or send us an e-mail at ir@mondee.com. Thank you
Operator: This concludes today’s conference call. Thank you all for your participation. You may now disconnect your lines.
