1、2013 Annual ReportandNotice of 2014 Annual Meeting andProxy StatementApril 2014Dear Shareholders:In 2013,we continued to strengthen our leadership position in travel in pursuit of our company mission:to helptravelers around the world plan and have the perfect trip.Helping us achieve this mission wer
2、e the loyal members of our community,who contributed a remarkable50 million reviews and opinions to the site during the year.We now have more than 150 million traveler reviewsand opinions on more than 4 million places to stay,eat,and visit throughout the world.Our rich and helpfulcontent attracts a
3、massive audience every month;we had more than two billion visitors to TripAdvisor sitesduring 2013 and more than a quarter of a billion average monthly visitors during the third quarter alone.While we are pleased with our tremendous growth in our content and our travel community,these were just twoo
4、f many achievements in 2013 as we focused on improving the TripAdvisor experience for users and advertisingpartners alike.Reducing Friction Led to Big Wins in 2013As previewed in last years shareholder letter,we introduced“metasearch”on our hotel pages,a feature thatallows hotel shoppers to easily c
5、ompare prices and availability without opening pop-up browser windows.Today,users can read reviews,view candid photos,and compare prices from hundreds of travel partners andthey can do all of this within the TripAdvisor experience on any device.Transitioning to metasearch may soundlike a small chang
6、e,but in fact this was the most transformative usability improvement in our companys history.And while the financial impact proved to be choppier than we had originally expected,users clearly prefer thisimproved hotel shopping experience.In turn,this is driving even higher-quality leads to our adver