Matador Network is the world’s number-one media brand for modern adventurers. With over 16 million followers across social media, Matador has become a leading travel brand through its production of article features, city guides, creator-first content, and original videos. It also launched the free AI travel genius GuideGeek last year. Pulse 2.0 interviewed Matador Network CEO Ross Borden to learn more about the company.
Ross Borden’s Background
What is Ross Borden’s background? Borden said:
“I was exposed to travel at a young age and got really into adventure travel, or as I like to call it, “dirt-bag” travel: just going out for as long as possible and cheaply as possible. I made it to Spain when I was in high school to run with the bulls and sleep in a park. After that, I was able to do a work stay in Kenya and travel all around East Africa. Last time I counted, I’ve been to 67 countries.”
Formation Of Matador Network
How did the idea for the company come together? Borden shared:
“I was climbing a mountain in South America with some friends when I had the idea for Matador Network. I had a great group of friends who shared travel stories and photos via email. It was 2006, YouTube was just getting started, and I thought it would be great if there were a place for people to share travel stories.”
Favorite Memory
What has been your favorite memory working for the company so far? Borden reflected:
“In 2022, we got an early look at Open AI’s LLM before ChatGPT launched. It was immediately clear that generative AI was unlike anything we’d ever seen and that it would change the world. It was a really exciting time as we brainstormed and visualized how this technology would change the travel industry and what we could build with it.”
Core Products
What are the company’s core products and features? Borden explained:
“Matador Network is the largest independent online travel publisher, and we’re the top-ranking travel brand on TikTok with over 16 million followers across social media.”
“The ‘Network’ in Matador Network is a vast community of thousands of content creators. We work with over 300 destination marketing organizations (DMOs) to create content and campaigns for their destinations. We also publish a wide variety of our own content, from travel guides to original films, and have content distribution deals with American Airlines, Hearst Media, and GSTV, and work with brands like Ford, REI, Samsung, YETI, Southwest Airlines, Visit California and Microsoft.”
“GuideGeek is our free AI travel genius that we launched a year and a half ago and that has been growing like crazy ever since. Travelers can message GuideGeek for free on WhatsApp, Instagram, and Facebook Messenger for complete itineraries or real-time travel advice. The AI has answered more than 7.7 million questions to date. We’ve created custom versions of GuideGeek for more than 20 destinations, including Greece, Aruba, and Toronto.”
Challenges Faced
What challenges have Borden and the team faced in building the company? Borden acknowledged:
“The travel industry as a whole has not seen significant innovation in a long time. When online travel agencies (OTAs) launched in the ‘90s, it was incredible to be able to book your own flights and hotels online. But by today’s standards, that experience isn’t all that great. You’ve got 30 browser tabs open, and you’re jumping back and forth between them to make comparisons. It’s time-intensive and exhausting. Generative AI is overhauling the experience of booking and planning travel for the first time in decades.”
Evolution Of Matador Networks’ Technology
How has the company’s technology evolved since launching? Borden noted:
“When we first launched GuideGeek, it only had about 85% accuracy. About one in seven travelers would get inaccurate information or have an issue where the AI misunderstood what they were asking. Obviously, that wasn’t good enough. We hired a global team to review conversations around the clock. So far, they have reviewed more than 1.4 million conversations. If they see the conversation going off course, they step in and get it back on track while noting what happened for our development team. This technique is called reinforcement learning from human feedback (RLHF), and it’s one of the main ways we’ve brought our accuracy rate up to 98%.”
“In addition, we’re continually adding more travel integrations to provide the richest, most up-to-date travel information possible. GuideGeek integrates with Skyscanner for real-time flight information. It has live weather and currency exchange info. You can get lodging recommendations from Airbnb and hotels in response to the same question. We integrate with over 1,000 OTAs.”
“GuideGeek is and always will be free for users, and we won’t sell user data. Instead, we are monetizing this technology through partnerships with destination marketing organizations (DMOs or tourism boards). Every travel brand that has an Instagram page in 2024 is going to want its own custom AI by 2026. The ability to have potential visitors ask any question they can think of about a destination in a message on social media or when visiting the destination website and get an accurate and instant response any time of day or night is a game changer for DMOs. Early data shows that this completely new form of consumer engagement increases visits, length of stay, and spending.”
Significant Milestones
What have been some of the company’s most significant milestones? Borden cited:
“Fast Company named Matador Network a 2024 Most Innovative Company in recognition of GuideGeek, and we’ve seen a ton of press and praise from the media for the technology. Forbes called it “the C-3PO of travel agents.” GuideGeek tends to come out on top when media pit it head to head against other AI travel tools.”
“Throughout 2024, we’ve constantly been announcing new destinations that have launched their own custom AI using GuideGeek technology. These custom versions of GuideGeek stay up to date with all of the content from the DMO as well as all of GuideGeek’s resources to help visitors plan trips.”
“Illinois was the first U.S. state to launch, Manitoba was the first Canadian province, Greece was the first country, and Toronto was the first major city. The list goes on, and we have many more launches in the works.”
Customer Success Stories
Upon asking Borden about customer success stories, he highlighted:
“We’re getting great feedback from our DMO partners, like this comment from Nancy Small, CEO of Tourism Richmond, BC: ‘We were surprised at how quick and accurate the AI has been. It’s proving very useful for helping visitors discover what they may perceive as more unapproachable aspects of Richmond, such as ordering Dim Sum or visiting Asian-style food courts and shops. It really is like talking to a local who knows everything.’”
“Across the board, GuideGeek is making travel more accessible. GuideGeek’s purpose is to give every traveler — be it for business or pleasure — the confidence of being accompanied by a knowledgeable local. This is particularly powerful for travelers with special needs, interests or requirements, whether it be health-related, a medical condition, a religious belief, a dietary restriction or anything else, GuideGeek can lead the way.”
“Our survey data shows that parents traveling with kids, LGBTQ+ travelers and travelers with disabilities are adopting AI travel tools at faster rates than average and that these sets of users are highly satisfied with the experience.”
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“One of the first questions I saw a user ask the AI was a mom traveling to DC with her daughter, who has autism. GuideGeek instantly provided the sensory friendly hours at every museum and tons of suggestions tailored to an 8-year-old with autism. It struck me how difficult it would have been to find all of that information through traditional search.”
“Our recent survey found that LGBTQ+ travelers are 25% more likely to use AI to plan and book travel than average. We see LGBTQ+ people using GuideGeek to find queer-owned businesses and connect with the local community in their destinations. We also see questions about LGBTQ+ safety for different destinations.”
Funding
When asking Borden about the company’s funding details, he revealed:
“Matador Network was launched with $11,000. From there, we bootstrapped and have been profitable for years.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Borden assessed:
“The travel and tourism industry is worth two trillion dollars worldwide. Within two years, I believe most travel will be booked and planned using AI.”
Differentiation From The Competition
What differentiates the company from its competition? Borden affirmed:
“One of the best strategic decisions we made was to launch GuideGeek on Meta platforms — WhatsApp, Instagram and Facebook Messenger — instead of building an app. We were able to get out into the market very quickly with this format and get real user feedback on what was working and what wasn’t. Plus, GuideGeek is the most accessible AI travel tool available. Most people already have WhatsApp, Instagram or Facebook Messenger on their phones. You don’t have to download anything or register to use GuideGeek. Just open an app you already have and send a message to the AI like you would to a friend.”
“That experience of texting a friend is intentional as well. In designing GuideGeek, we thought a lot about where the best travel advice comes from. It’s usually from a friend or family member. Think about the last time you reached out to a cousin or old college friend for tips on visiting a place they live or know a lot about. You probably got spot-on recommendations from someone who knows the destination and knows what you like. GuideGeek is the same experience; it only knows about every destination in the world and how to get there.”
Future Company Goals
What are some of the company’s future company goals? Borden concluded:
“We want to help every travel brand and DMO benefit from the generative AI revolution. The entire travel industry has simultaneously realized they need a solid AI strategy. GuideGeek has done the work, solved the problems, and boasts best-in-class tech. GuideGeek is the ‘easy button.’”
