Nelson Chai

“So Doug, in terms of the balance between growth and profitability, since going public, Dara and I have been discussing our capital allocation strategy. Our performance has aligned with our top-line targets, and we have consistently surpassed bottom-line expectations.”

“If you adjust for the U.K. merchant model change, which happened a year ago, the underlying take rate was actually 21.1%. It's down versus Q1. The take rate decreased by 30 basis points, largely because we made some supply investments in some international markets, particularly LatAm and APAC.”

“So as Dara mentioned, we optimize our marketplace to ensure that we're driving and overachieving against the guidance that we put out on the bottom line. But we also want to try to allocate and drive growth on the top line as well.”

“As you may remember, our pivotal moment took place in 2020 when our Mobility division accounted for more than 85% of our gross bookings. By April 2020, that business had declined by 80%.”

“So, on the corporate overhead yes, it did increase a little bit in the quarter. We obviously continue to monitor quite closely. And so on a year-on-year basis, we actually did deliver about 20 basis points of leverage as a percentage of gross bookings.”