Travelzoo Appoints Justin Soffer as Global Director, Member Acquisition

Rhea-AI Summary

Travelzoo (NASDAQ: TZOO) announced the appointment of Justin Soffer as Global Director, Member Acquisition, effective June 3, 2022. Soffer, a specialist in growth marketing, will focus on enhancing member acquisition strategies for Travelzoo, particularly for the new Travelzoo META. He holds an Executive MBA from Columbia Business School and has extensive experience in digital marketing, including previous roles at Conduit Media and FoundersCard. As part of his incentive, Soffer was granted an option to purchase 100,000 shares at $6.78, contingent on achieving specific growth targets.

Positive

• Appointment of a seasoned growth marketing expert, enhancing member acquisition strategies.
• Incentive structure aligns interests of management with company growth through stock options tied to performance.

Negative

• None.

NEW YORK, June 3, 2022 /PRNewswire/ -- Travelzoo® (NASDAQ: TZOO), a global Internet media company that provides exclusive offers and experiences for members, announces that Justin Soffer has joined the Company as Global Director, Member Acquisition. In this position, Mr. Soffer will oversee new member acquisition for Travelzoo and provide support for the new Travelzoo META.

A tech investor and specialist in growth marketing, Mr. Soffer founded Conduit Media in 2018 to bring innovative digital marketing strategies to companies looking to accelerate user and member growth. Previously, he was Chief Marketing Officer of FoundersCard, an elite business membership community that, under Mr. Soffer's direction, acquired a substantial number of paying members. As Advisor at Tsai Ventures, the venture capital arm of Tsai Capital, Mr. Soffer led the investment in CrowdTangle, which was acquired by Facebook in 2016. From 2014 to 2018, he worked with Travelzoo as VP, Marketing, based in New York City. He received his Executive MBA from Columbia Business School.

As a material inducement for Mr. Soffer to join Travelzoo, in accordance with NASDAQ Listing Rule 5635(c)(4), the independent directors unanimously approved the grant to Mr. Soffer of an option to purchase 100,000 shares of the company's common stock at a price of $6.78. The options will vest quarterly over three years, beginning September 30, 2022, only upon the achievement of specific targets for growth in new Travelzoo members, quality of new members, and cost savings, subject to Mr. Soffer's continued employment with Travelzoo on such vesting dates. The options expire in 5 years.

"Justin brings his special expertise to Travelzoo at a pivotal period as the company expands its reach and offerings," said Holger Bartel, Travelzoo's Global CEO. "We aim to make Travelzoo membership more accessible to millions of travel enthusiasts around the globe."

About Travelzoo

Travelzoo^® provides its 30 million members with exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.

Travelzoo is a registered trademark of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners.

Media Contacts:

Gabe Saglie – New York
+1 805 453 1209
gsaglie@travelzoo.com

Cat Jordan – London
+44 77 7678 1525
cjordan@travelzoo.com

Natalia Cwierz – Berlin
+49 178 335 8784
ncwierz@travelzoo.com

 

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SOURCE Travelzoo

FAQ

What is the main role of Justin Soffer at Travelzoo?

Justin Soffer has been appointed as Global Director, Member Acquisition, overseeing new strategies to enhance member growth.

What are the conditions for Justin Soffer's stock options at Travelzoo?

Soffer's stock options to purchase 100,000 shares at $6.78 will vest quarterly over three years, based on achieving specific growth targets.

How does Justin Soffer's experience benefit Travelzoo?

Soffer's background in growth marketing and his previous success in acquiring members will likely contribute positively to Travelzoo's expansion efforts.

When was Justin Soffer's appointment announced?

Justin Soffer's appointment as Global Director, Member Acquisition was announced on June 3, 2022.