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Campaigns / Starboard Value → Tripadvisor, Inc.
Starboard Value vs. Tripadvisor, Inc.

Tripadvisor, Inc. · TRIP

2 decks published between 2025-10-01 and 2026-02-17 — 48 pages, 48 analysed slides total. Outcome: ongoing.

initial thesis proxy fight

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2025-10-01 initial thesis

    2025 10 2025_Active Passive_Investor_Summit_ _Tripadvisor_Inc

    44pp · conference_presentation

    Tripadvisor trades at 6.5x EBITDA, half its peers, because investors still view it as a controlled legacy Tripadvisor.com — sell TheFork, fix Viator margins, revitalize the brand, or take the $18-19/share bid.

    N 4 V 4 C 4
    ⌂ ◫ ”
  2. 2026-02-17 proxy fight

    2026 02 Starboard_Value_LP_Letter_to_TRIP_Board_CEO_02.17.2026

    4pp · letter

    Tripadvisor's Board has tolerated ~50% value destruction under CEO Goldberg; Starboard demands a sale of the entire company or will run a majority-slate proxy fight at the 2026 meeting.