8.25.2011 Investor Pitch Deck

CONFIDENTIAL

The Team: East Meets West

• Niraj Sheth, Co-Founder & CEO: Stanford graduate. Formerly a Wall Street Journal foreign correspondent in India and tech reporter in New York

• Naman Shah, Co-Founder: Harvard MBA, Stanford graduate. Founder of several enterprises in India including a mobile development company and a clean-water social enterprise

• Kunal Singla, VP Sales: Graduate of NIT Surathkal and IE Business School (Spain). Former Co-Founder/COO of Indian group-buying site Koovs.com (majority share bought by BenefitsPlus in June 2011)

• Puneet Agrawal, VP Product: MS Computer Engineering, Carnegie Mellon. Ex-Motorola (USA); Founder, Quantum Embedded Systems (India)

• Anand Shah, Director: Harvard graduate. Over 12 years of experience in India building start-ups, social enterprises, and NGOs

• Alap Shah, Director: Harvard graduate and former hedge fund and private equity investor. Expertise in global retail/consumer markets

The Challenge: Customer Loyalty

Emerging-market retailers want better tools: Highly profitable businesses but don’t have tools to intelligently, quickly and effectively engage customers

Existing loyalty programs don’t work: Existing solutions are tedious, such as swipe cards or punch cards, not well accepted by customers and yield minimal ROI

Merchants need new mediums of communication: Billboards, Newspaper flyers and other traditional marketing mediums are low ROI and ineffective. Merchants need to be able to reach out to their customers on new digital platforms to constantly engage and inspire loyalty

The Answer: In-Store Connected Tablets

• Sign Up, Check In, Add Points: Customers log in on tablet, earn points when they spend (sticky customers!)

• Get Rewards: Redeem in-store rewards set up and managed by merchant (free stuff!)

• Give Valuable Feedback: Customers fill out experience surveys that make them feel empowered

Custom Android Tablet in the Store For Customers

Real-Time Web Dashboard and Tools For Merchants

• Detailed Metrics: See whom they serve, how often, average spend, more (intelligent analysis!)

• Live Tools: Watch customers, learn from them, communicate with them (smart marketing!)

• Customize On the Fly: Remotely control rewards, use tools and mange web-connected tablet

How inCrowd Works

Real-time data feed on

Individual Customers

Logs in on tablet

With mobile number

Redeems Rewards

Customer

RetailerStronger Customer Engagement

The inCrowd Value Make customers sticky Get real-time data and analytics Communicate with customers

effectively Improve brand connection

Case Study: Subway

Details

Launch Date: July 6th

Contract: 3yrs, Rs. 2750 per outletLocations: 14 outlets (3 cities, 10 different franchisees)Customer Enrollment: 6800+ (~20% of overall traffic for given time period)Points Awarded: 4,00,000 (40,00,000 INR spent by customers in first month)Points Redeemed: 26% of total points have been redeemedRegular Usage: Over 15% visited 3 times or more in 15 days, 1600+ rewards used in less than a monthVendor Notes: Has stopped printing newspaper flyers and has replaced them with our SMS marketing solutions. Also has stopped printing survey feedback forms. Cost savings around Rs. 3000 per outlet/mo

End game: Find value in the end-users

Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012

Insallations 67.00 394.00 1,118.00 2,182.00 3,135.00 5,268.00

Users 25,000.00 394,000.00 1,565,200.00 3,273,000.00 5,016,000.00 8,955,600.00

Installtion ASP (Rs./mo) 4,040.00 4,162.00 4,417.00 4,780.00 5,071.00 5,819.00

Income per User (Rs./mo) 0 1 2 3 4 5

Revenue from Monthly Fee 812,040.00 4,919,484.00 14,814,618.00 31,289,880.00 47,692,755.00 91,963,476.00

Revenue from User Monetization - 1,182,000.00 9,391,200.00 29,457,000.00 60,192,000.00 134,334,000.00

Total Revenue (Rs.) 812,040.00 6,101,484.00 24,205,818.00 60,746,880.00 107,884,755.00 226,297,476.00

•Monthly fee is nice but Real value is monetizing the end-users.

•Can you generate Rs. 5 per month per user? We believe we can through: Marketing to customer, selling of

demographic/usage data, customer service insights, social media marketing, and many other ways.

•QSR outlets stabilize @ 1500-2000 users per location after 3 months

How to scale? – 4000 Locations in the next 12 months. 10 million users

Merchant Acquisition strategy - Top Down Approach

•Initial wedge into industry via QSR/Branded F&B where we have seen success. Pilots running at numerous chains (Subway, Ruby Tuesdays, Mandarin Express, Bercos, Nirulas) . •Quick expansion into branded periodic retail (Cinemas, Salons, Super-markets/Pharmacies, etc). Discussions with chains such as Lakme, PVR, DLF and others have already started. •Leverage large user base and inCrowd brand to attract incoming leads from smaller retailers

User Acquisition strategy – build large offering of user facing tools

•Tablet is a great way to get users engaging with inCrowd technology on a regular basis. Highly effective at generating sign ups•Communication of inCrowd offers, etc by SMS and weekly emails•Interaction at inCrowd web portal allowing users to use existing programs and add new ones (going live this week)•Mobile application for iPhone, Android, Blackberry and Java in the works•The goal: Get 10 million users interacting with inCrowd and using us to determine their shopping behavior. Provide an electronic bridge between merchants and customers.

Attractive Market

Addressable Market in India: Large and Growing

Retail is >$450B in India. Organized retail is > $30B

>12.3 Million Retail Points, 600,000 Organized. Not including restaurants.

Benchmark: 18,000 locations for Sodexo mealpass. Estimate they have captured only 40% of the addressable restaurants. We estimate same amount of non-food beverage retailers.

8000 installation and nearly 1mm customer records for Capillary Technologies (POS for select national retailers)

10% growth in restaurants, 4-7% growth in same-store sales

The large majority of restaurants have less than 5 locations

Estimated 70,000 targetable Indian locations. Huge opportunity in other markets. True global potential.

Risks & How we are planning for them

1. Merchants opt to develop their own loyalty solutions or choose POS based systems like Capillary • Push and improve user facing component of our system givings us an advantage and stickiness not

seen by our competitors

2. Chance that the model does not scale to other retail verticals outside of F&B • We will be piloting in various retail segments in the near future and fine tuning the system to work

in these environments

3. Communication and Data rights – larger customers will demand more data and communication access which right now we are hesitant to give• working with our initial large customers to establish a data sharing frameworks that can be pushed

on new customers as we grow

4. Merchants abuse the system and begin spamming users causing them to leave inCrowd• We are working with merchants right now to make sure that they are not abusing the systems and

contracts specify terms of use. • Introduced a lag between communication initiation and delivery so that we can intercept any

spammy messages and protect our customers

5. Entrance of copycats before we can establish a large network • Targeting the larger chains and name brands. If you capture these merchants it becomes very hard

for any competitor to enter.• Continue adding innovative features to our setup such as Facebook integration, surveys, etc that

will keep competitors behind us.

inCrowd Details

Contact Us:inCrowd Marketing Pvt. Ltd.Naman.shah@incrowd.inwww.incrowd.in+91 9811135245

Statement of Confidentiality

This document contains information proprietary and confidential to inCrowd Marketing Pvt. Ltd. Recepient shall not use or disclose any information contained here except in business dealings with inCrowd.

inCrowd retains all title, ownership and intellectual property rights to the material and trademarks contained herein, including all supporting documentation, files, marketing material and multimedia.

By acceptance of this document, the recipient agrees to be bound by the aforementioned statement.

412, Sukh Sagar ComplexUsmanpura, Ahmedabad 380013+91-79-4009-8152

254 A/1, Hauz Rani MarketOpp. Max Hospital, Press Enclave RoadSaket, New Delhi 110017

Appendix

Basic Economics and Pilot Statistics

0

1000

2000

3000

4000

5000

6000

0

50

100

150

200

250

300

350

400

450

500

5/1/2011 6/1/2011 7/1/2011

Tota

l en

rolle

d u

sers

Dai

ly e

nro

llme

nt

Date

User Enrollment since May 1st

Users Total Users

Unit Economics (Rs) Current Q4 2011 Notes

Customer acquisition cost 4000 3000 Based on current salary of sales people and close rate. Decrease due to sales efficiency and increased in-bound leads

Capex (Tablet) cost 13000 9000 Steep decline in tablet pricing expected over the next year

Monthly operation cost 350 350 Fees for data and basic field servicing

Customer lifetime (mo) 24 24 This number has yet to be determined but this is our estimate

Base Monthly Revenue 4000 6000 Increase in ASP with the release of additional loyalty features, we belive this will continue to rise as auxilary products such as advertisement are introduced

Lifetime cost 25400 20400

Liftetime revenue 96000 144000

Net Margin 74% 86%

Current Stats

Total Merchants: 30 (20 in Gujarat, 10 in Delhi)Users: 10,000Average Selling Price: Rs. 4000 /moExpected growth: 60-70 total merchants in the next month

Investment Merits

• Monthly recurring revenue with very high switching costs• End customers grow accustomed to program with a vested interest in the points• Complex, evolving tech infrastructure creates real value• Customer data is jointly owned with some aspects proprietary to inCrowd

• Strong network effects in a given city or neighborhood• Customers’ single unique inCrowd login works across merchants• Many emerging-market consumers are especially wary of SMS and email, inCrowd is a

trusted source• Customers are also inCrowd members, opportunity for additional marketing

• Highly attractive financial profile today with multiple upside drivers• 80%+ gross margin on day 1 and 30%+ operating margins• Large and growing market potential with minimal competition• Substantial operating margin expansion potential via operating leverage and business

line extensions

Roadmap: The Most Connected Device In the Store- Unlimited Potential

Social Media Integration

Robust Deals Platform

(merchant specific and cross merchant)

Digital Payments and POS Solution

(Square)

Check-in system (Foursquare)

Customer Feedback Platform

Video and Interactive

Advertising During Tablet Downtime

Roadmap: More Fun Being a Customer

Share points with your friends and show how much you “like” a place

Get more rewards for friends that you refer

Share your buying patterns - Social Media Integration

Compete with others to be most loyal – badges and other rewards

Let your friends know: Check-ins based on your location

Provide feedback and share reviews of merchants

Roadmap: More Power to the Merchant

050

Is my traffic consistent?

12%

13%

25%35%

15%

What do people say about my food?

1 star

2 star

3 star

4 star

5 star

Peerstraffic

My Rest.Traffic

How do I fare against my peers?

Traffic

Rev(Rs. 1000)

How many footfalls am I getting?

A Must-Have For Retailers

Analytical Tools

Run special deals and promotions for loyal customers w/o stamps or cards. Validate deals right on the device!

Target communications to customers based on spending behavior

Get more insight into each individual customer and spending patterns, make retailing social by encouraged referrals

Communication Tools

Name Frequency

Av.Ticket value

Total money spent

Kunal Singla

6 430 2580

NirajSheth

5 450 2250

Alap Shah 5 420 2100

Who are my most loyal customers?

The inCrowd Value Proposition

Merchant Customer

• Unprecedented data on customers• Customers visit and spend more• Happy customers refer new ones• Can run targeted specials • Analytics anywhere via Dashboard• Cool technology in the store• Merchant-branded, but part of network• No up-front development cost

• Get more for being loyal to merchants• Special member-only savings• No cards to lose or remember• Complete control on alerts• Regular deals at favorite places• Same number works everywhere• Access to all points in one place

inCrowd

• Monthly subscription fee• Rich data on customer buying patterns, including location and spend• Feature-rich, networked devices in merchant locations• Ability to run marketing programs across merchants and customers