Weekly Internet / Digital Media / SaaS Sector Summary · 2016. 5. 4. · 2/1/2016 2/14/2016 2/27/2016 3/11/2016 3/24/2016 4/6/2016 4/19/2016 5/2/2016 65% 75% 85% 95% 105% 115% 125%

Weekly Internet / Digital Media / SaaS

Sector Summary

Week of May 2nd, 2016

75%

80%

85%

90%

95%

100%

105%

110%

115%

2/1/2016 2/14/2016 2/27/2016 3/11/2016 3/24/2016 4/6/2016 4/19/2016 5/2/2016

65%

75%

85%

95%

105%

115%

125%

135%

5/4/2015 6/25/2015 8/16/2015 10/7/2015 11/28/2015 1/19/2016 3/11/2016 5/2/2016

8.3%

1.1%

(4.0%)

12.7%

5.5%

Notes:

(1) Search/Online Advertising Composite includes: BCOR, BLNX, CRTO, GOOGL, FUEL, MCHX, MRIN, MSFT, MXPT, QNST, RLOC, RUBI, SZMK, TRMR, TUBE, YHOO, YNDX, YUME.

(2) Internet Commerce Composite includes: AMZN, ANGI, BABA, CMPR, CPRT, EBAY, ETSY, EXPE, FLWS, GRUB, NFLX, NILE, OSTK, PCLN, PRSS, QUOT, QVCA, SSTK, STMP, TZOO.

(3) Internet Content Composite includes: CRCM, DHX, DMD, EHTH, EVDY, GDDY, IAC, MWW, RATE, RENN, RNWK, SCOR, SFLY, TGNA, TST, TTGT, UNTD, WBMD, WEB, XOXO, ZG.

(4) Publishers Composite includes: GCI, GHC, MMB-FR, NWSA, NYT, PSON-GB, SSP, TIME, TPUB, TRI, UBM-GB.

(5) Diversified Marketing Composite includes: ACXM, ADS, EFX, EXPN-GB, HAV-FR, HHS, IPG, MDCA, NLSN, WPP-GB.

(6) Media Conglomerates Composite includes: 6758-JP, CBS, CMCSA, DIS, DISCA, FOXA, LGF, SNI, TRCO, TWX, VIA.B.

(7) Gaming Composite includes: A035420-KR, A036570-KR, 2432-JP, 3632-JP, 3765-JP, 700-HK, ATVI, CYOU, EA, GAME, GLUU, NTES, UBI-FR, ZNGA.

(8) SaaS Composite includes: APIC, APPF, BCOV, BOX, BV, CRM, CSOD, CVT, DWRE, ECOM, HUBS, JIVE, LPSN, MB, MRIN, MKTO, N, NOW, RNG, RP, SHOP, ULTI, WDAY, XTLY, ZEN.

Industry Stock Market Valuation

2

Internet / Digital Media / SaaS

Last 12 Months Last 3 Months

Diversified Marketing

(5)

Internet Content (3)

Search / Online Advertising (1)

Gaming (7)

Media Conglomerates (6)

Internet Commerce (2)

SaaS (8)

Publishers (4)

NASDAQ

(6.1%)

(2.6%)

15.0%

(19.3%)

(8.3%)

4.0%

(17.2%)

5.7% 7.1%

4.3%

15.6% 13.6%

0.3%

39.7x

17.6x 17.2x 16.0x

11.1x 10.8x 9.9x 9.7x7.7x

0.0x

15.0x

30.0x

45.0x

4.1x4.0x

3.2x

2.7x 2.6x 2.6x

2.0x 2.0x

1.4x

0.0x

1.0x

2.0x

3.0x

4.0x

5.0x

Industry Stock Market Valuation

3

Internet / Digital Media / SaaS: Financial Metrics

EV / 2016E EBITDA EV / 2016E Revenue

Notes:

(1) Search/Online Advertising Composite includes: BCOR, BLNX, CRTO, GOOGL, FUEL, MCHX, MRIN, MSFT, MXPT, QNST, RLOC, RUBI, SZMK, TRMR, TUBE, YHOO, YNDX, YUME.

(2) Internet Commerce Composite includes: AMZN, ANGI, BABA, CMPR, CPRT, EBAY, ETSY, EXPE, FLWS, GRUB, NFLX, NILE, OSTK, PCLN, PRSS, QUOT, QVCA, SSTK, STMP, TZOO.

(3) Internet Content Composite includes: CRCM, DHX, DMD, EHTH, EVDY, GDDY, IAC, MWW, RATE, RENN, RNWK, SCOR, SFLY, TGNA, TST, TTGT, UNTD, WBMD, WEB, XOXO, ZG.

(4) Publishers Composite includes: GCI, GHC, MMB-FR, NWSA, NYT, PSON-GB, SSP, TIME, TPUB, TRI, UBM-GB.

(5) Diversified Marketing Composite includes: ACXM, ADS, EFX, EXPN-GB, HAV-FR, HHS, IPG, MDCA, NLSN, WPP-GB.

(6) Media Conglomerates Composite includes: 6758-JP, CBS, CMCSA, DIS, DISCA, FOXA, LGF, SNI, TRCO, TWX, VIA.B.

(7) Gaming Composite includes: A035420-KR, A036570-KR, 2432-JP, 3632-JP, 3765-JP, 700-HK, ATVI, CYOU, EA, GAME, GLUU, NTES, UBI-FR, ZNGA.

(8) SaaS Composite includes: APIC, APPF, BCOV, BOX, BV, CRM, CSOD, CVT, DWRE, ECOM, HUBS, JIVE, LPSN, MB, MRIN, MKTO, N, NOW, RNG, RP, SHOP, ULTI, WDAY, XTLY, ZEN.

$MM, Except Per Share Data

Stock LTM EPS

Price Price Range Equity Net Aggregate AV / Revenue AV / EBITDA Price / EPS Long Term Revenue Growth

5/2/16 Low High Value Debt Value LTM CY 16E CY 17E LTM CY 16E CY 17E LTM CY 16E CY 17E Growth PEG 17E/16A Y/Y MRQ

Search / Online Advertising

Alphabet Inc. $714.41 $532.24 $810.35 $490,652 ($64,034) $426,618 5.5x 4.9x 4.3x 16.7x 12.1x 10.4x 29.2x 21.3x 18.0x 16.1% 1.1 12.9% 17.4%

Microsoft Corporation 50.61 39.72 56.85 397,818 (58,571) 339,247 3.9 3.7 3.5 11.6 9.9 9.2 39.0 18.9 16.7 9.5% 1.8 4.7% (5.5%)

Yahoo! Inc. 36.53 26.15 45.07 34,587 (4,727) 29,897 6.2 8.5 8.2 NM 39.5 34.9 NM 73.5 63.4 1.5% 41.2 4.0% (11.3%)

Yandex N.V. 20.68 9.94 20.67 6,611 (541) 6,071 6.4 5.4 4.6 21.8 15.5 11.8 52.2 31.0 24.6 22.3% 1.1 16.2% 15.7%

Criteo SA (1) 42.57 24.23 57.30 2,660 (343) 2,321 4.9 3.2 2.6 20.3 11.3 8.4 46.8 24.7 18.6 24.9% 0.7 24.5% 14.1%

The Rubicon Project, Inc. (1) 19.67 11.72 20.37 945 (140) 805 3.2 2.7 2.2 42.3 13.6 9.5 NM 26.5 19.1 23.3% 0.8 22.5% 124.7%

TubeMogul, Inc. (1) 13.54 9.11 17.77 481 (80) 402 2.2 1.8 1.5 NM 68.7 20.5 NM NM 43.3 NM NM 20.7% 62.0%

Blucora, Inc. 8.46 4.69 16.66 350 429 794 3.9 1.7 1.6 22.3 8.6 7.5 NM 8.4 6.4 18.5% 0.3 6.9% 104.5%

Marchex, Inc. 4.24 3.08 5.32 178 (109) 69 0.5 0.5 0.5 36.7 17.4 7.4 NM NA 94.2 15.0% 6.3 4.3% 11.8%

QuinStreet, Inc. 3.61 2.65 6.82 163 (36) 128 0.4 0.4 0.3 NM 6.5 3.9 NM NM NM NA NA 11.9% (2.6%)

YuMe, Inc. 3.64 2.35 5.76 127 (48) 78 0.5 0.5 0.4 NM 15.5 9.7 NM NM NM NA NA 5.8% (5.7%)

Rocket Fuel Inc. 2.82 2.61 9.64 123 5 128 0.3 0.3 0.3 NM 19.3 7.5 NM NM NM NA NA 3.5% (10.1%)

Tremor Video, Inc. 2.00 1.29 3.28 105 (60) 45 0.3 0.2 0.2 NM 20.5 3.2 NM NM 68.2 NA NA 19.6% (9.5%)

Marin Software Incorporated 2.64 2.52 7.62 101 (34) 66 0.6 0.6 0.6 NM 15.2 7.3 NM NM NM NA NA 6.9% 7.5%

Blinkx plc 0.24 0.22 0.59 98 (75) 23 0.1 0.1 0.1 NM 5.0 2.4 NM 6.2 13.5 NM NM 2.1% (13.8%)

Sizmek Inc. 2.69 2.63 7.91 78 (42) 36 0.2 0.2 0.2 6.7 2.3 1.7 NM NM NM NA NA 7.8% 13.4%

MaxPoint Interactive, Inc. 8.22 4.64 40.56 54 (10) 44 0.3 0.5 0.4 NM NM NM NM NM NM 20.0% NM 5.7% 6.2%

ReachLocal, Inc. 1.76 0.55 3.35 53 12 64 0.2 0.2 0.2 NM 4.1 3.7 NM NM NM NA NA 5.3% (18.4%)

Mean 2.2x 2.0x 1.8x 22.3x 16.8x 9.3x 41.8x 26.3x 35.1x 16.8% 6.7 10.3% 16.7%

Median 0.5 0.5 0.5 21.1 13.6 7.5 42.9 23.0 19.1 18.5% 1.1 6.9% 6.8%

Internet Content

TEGNA Inc. $23.39 $21.11 $38.48 $5,113 $4,072 $9,186 3.0x 2.7x 2.6x 8.2x 7.0x 7.8x 13.9x 10.2x 12.0x 6.0% 2.0 1.7% (46.9%)

Zillow Group, Inc. 25.97 16.46 35.47 4,634 (290) 4,344 6.7 5.4 4.5 NM 37.2 21.8 NM NM 60.3 49.8% 1.2 21.5% 83.4%

IAC/InterActiveCorp 47.83 38.82 84.66 3,973 268 4,682 1.4 1.4 1.3 12.2 8.4 7.1 35.9 15.1 12.1 13.8% 0.9 7.5% 2.2%

GoDaddy Inc. 31.30 21.04 35.35 2,432 723 3,411 2.1 1.9 1.6 26.1 8.4 7.1 NM 20.0 17.2 22.0% 0.8 13.3% 14.4%

WebMD Health Corp. 63.43 37.57 63.98 2,281 162 2,443 3.8 3.5 3.2 16.7 10.9 9.7 42.7 35.1 31.0 12.5% 2.5 8.5% NA

comScore, Inc. 30.52 26.21 65.00 1,730 (114) 1,616 4.4 3.1 2.6 43.5 12.9 9.9 NM 19.6 14.9 23.5% 0.6 19.4% 8.4%

Shutterfly, Inc. 46.96 35.22 49.10 1,617 98 1,715 1.6 1.5 1.4 14.2 8.0 6.9 NM 56.1 41.0 20.0% 2.1 8.8% 13.6%

Renren Inc. 3.19 2.58 4.45 1,081 (172) 909 16.6 6.2 NA NM NM NA NM NM NA 20.0% NA NA (36.4%)

Web.com Group, Inc. 20.29 15.71 26.04 962 404 1,366 2.5 1.8 1.6 12.3 7.9 6.4 11.8 7.9 6.4 11.0% 0.6 11.0% 2.8%

Bankrate, Inc. 9.03 6.59 15.80 816 61 877 2.4 2.4 2.3 8.1 8.5 7.7 50.2 19.9 17.7 17.7% 1.0 5.7% (23.0%)

XO Group Inc. 17.81 13.55 18.18 454 (89) 366 2.6 2.4 2.1 18.1 10.6 8.7 84.8 34.5 25.8 20.0% 1.3 10.7% 2.9%

DHI Group, Inc. 7.10 7.00 10.48 368 67 435 1.7 1.8 1.7 7.3 6.5 6.0 NM 17.0 13.8 NA NA 3.5% (8.6%)

Monster Worldwide, Inc. 3.29 2.43 8.23 292 31 324 0.5 0.5 0.5 3.4 3.3 3.0 32.9 9.9 8.1 NA NA 2.9% (9.2%)

Care.com, Inc. 7.75 4.89 7.83 252 (52) 200 1.4 1.2 1.1 NM 19.0 11.9 NM 54.0 26.8 20.0% 1.3 13.5% 22.5%

TechTarget, Inc. 7.77 5.98 11.00 251 (25) 225 2.0 1.8 1.7 12.8 7.6 6.1 37.0 18.0 12.2 24.5% 0.5 9.1% (4.1%)

eHealth, Inc. 12.00 8.14 16.81 218 (67) 152 0.8 0.8 0.7 5.8 9.7 7.1 14.1 19.2 16.2 10.0% 1.6 6.9% 20.5%

Everyday Health, Inc. 5.60 3.71 14.24 186 81 267 1.1 1.0 0.9 11.0 6.0 4.6 NM 13.0 6.9 NA NA 13.4% 29.6%

RealNetworks Inc. 4.59 3.04 7.15 168 (99) 69 0.6 0.5 0.5 NM NM 9.7 NM NM NM NA NA 18.8% (15.7%)

United Online, Inc. 10.86 9.50 17.79 162 (105) 57 0.4 0.5 NA 3.8 4.0 NA 47.6 40.2 NA NA NA NA (4.1%)

Demand Media, Inc. 5.98 3.94 6.85 122 (39) 83 0.7 0.6 0.5 NM NM NM NM NM NM NA NA 13.6% (19.8%)

TheStreet, Inc. (2) 1.06 0.82 2.05 37 27 64 0.9 0.9 NA 34.6 29.1 NA NM NM NA NA NA NA (1.8%)

Mean 2.7x 2.0x 1.7x 14.9x 11.4x 8.3x 37.1x 24.4x 20.2x 19.3% 1.3 10.5% 1.5%

Median 1.7 1.8 1.6 12.3 8.4 7.1 36.4 19.4 15.5 20.0% 1.2 9.9% 0.2%

Public Company Valuations

4

Internet / Digital Media / SaaS: Financial Metrics (Cont’d)

Notes:

Source: Capital IQ and Wall Street Estimates. Multiples 100 considered NM.

(1) Revenue multiples reflective of Net Revenue.

(2) Includes convertible preferred stock with total liquidation preference of $55.0MM.


Stock LTM EPS



Internet Commerce

Amazon.com, Inc. $683.85 $414.55 $696.44 $322,660 $1,753 $324,413 2.9x 2.4x 2.0x 35.7x 21.3x 16.5x NM NM 71.4x 56.1% 1.3 20.6% 28.2%

Alibaba Group Holding Limited 76.61 57.20 95.06 192,477 (7,448) 185,769 12.8 12.9 10.0 37.5 25.0 20.1 37.2 31.4 25.2 24.5% 1.0 28.7% 26.0%

The Priceline Group Inc. 1,356.69 954.02 1,476.52 67,343 3,510 70,853 7.7 6.6 5.7 20.2 16.2 13.9 27.4 19.6 16.7 17.3% 1.0 15.4% 8.7%

Netflix, Inc. 93.11 78.89 133.27 39,879 300 40,179 5.6 4.6 3.7 NM 76.1 36.2 NM NM 82.3 50.1% 1.6 25.6% 24.4%

eBay Inc. 24.26 21.52 66.73 27,872 1,023 28,895 3.3 3.3 3.1 9.7 8.3 7.9 14.8 13.0 11.8 7.4% 1.6 4.4% 3.7%

Expedia Inc. 116.52 88.40 140.51 17,374 1,144 19,253 2.7 2.2 1.9 24.1 11.8 9.5 44.5 22.6 17.4 22.4% 0.8 14.2% 38.6%

QVC Group 26.67 22.51 31.62 12,988 6,097 19,183 2.1 1.8 1.7 10.5 9.4 8.7 20.3 17.1 13.3 20.0% 0.7 5.8% 16.0%

Copart, Inc. 43.01 32.26 43.42 4,817 517 5,334 4.6 4.3 4.1 13.3 12.3 11.4 24.3 21.0 19.0 11.8% 1.6 5.5% 8.5%

Cimpress N.V. 89.42 63.15 99.95 2,814 769 3,648 2.2 1.8 1.7 15.6 11.6 10.4 94.1 19.8 17.1 18.3% 0.9 11.1% 28.5%

GrubHub Inc. 26.54 17.77 41.20 2,246 (196) 2,050 5.7 4.5 3.7 23.0 16.2 12.7 60.3 34.9 27.4 28.0% 1.0 21.2% 36.3%

Shutterstock, Inc. 41.75 25.44 68.05 1,463 (288) 1,175 2.8 2.3 2.0 21.3 12.0 10.5 77.3 31.1 26.3 15.5% 1.7 14.5% 27.2%

Stamps.com Inc. 84.58 60.24 123.75 1,414 88 1,501 7.0 5.0 4.3 23.4 13.6 11.3 NM 16.0 14.4 20.5% 0.7 14.5% 67.0%

Quotient Technology Inc. 11.85 5.00 13.65 974 (137) 837 3.5 3.2 2.9 NM 35.6 21.6 NM NM 60.8 20.0% 3.0 12.0% 15.7%

Etsy, Inc. 8.51 6.04 25.42 962 (280) 683 2.5 2.0 1.7 53.1 18.7 13.7 NM NM 60.8 10.0% 6.1 21.3% 35.4%

Angie's List, Inc. 8.97 3.73 11.25 526 (1) 525 1.5 1.5 1.4 31.9 16.5 12.3 NM NM 38.5 8.0% 4.8 6.1% 0.4%

1-800-Flowers.com Inc. 7.67 6.11 10.95 496 59 556 0.5 0.5 0.4 6.5 6.1 5.2 14.0 15.9 12.7 18.0% 0.7 4.1% 0.8%

Overstock.com Inc. 15.27 10.03 24.00 386 (155) 230 0.1 NA NA 20.4 NA NA NM NA NA NA NA NA 2.1%

Blue Nile Inc. 26.15 22.33 39.00 304 (86) 218 0.5 0.5 0.4 12.6 9.4 8.7 29.1 29.3 26.0 18.8% 1.4 3.7% (4.8%)

Travelzoo Inc. 7.60 6.63 14.18 110 (30) 81 0.6 0.6 0.6 8.4 11.7 9.0 29.2 80.0 32.7 5.0% 6.5 2.6% (4.6%)

CafePress Inc. 3.67 3.02 5.36 62 (49) 12 0.1 0.1 0.1 3.1 3.2 2.0 NM NM NM NA NA 5.4% NA

Mean 3.4x 3.2x 2.7x 20.6x 17.6x 12.7x 39.4x 27.0x 31.9x 20.7% 2.0 12.5% 18.9%

Median 2.7 2.3 2.0 20.3 12.3 11.3 29.1 21.0 25.6 18.5% 1.3 12.0% 16.0%

Media Conglomerates / Selected Entertainment

The Walt Disney Company $104.36 $86.25 $122.08 $170,271 $14,614 $189,125 3.5x 3.3x 3.1x 11.5x 10.8x 9.9x 19.5x 17.9x 16.1x 11.2% 1.4 6.4% 13.8%

Comcast Corporation 61.23 50.01 64.99 148,502 50,006 201,614 2.7 2.5 2.5 8.0 7.6 7.3 18.6 17.2 15.6 11.0% 1.4 3.7% 5.2%

Time Warner Inc. 75.32 55.53 91.34 59,304 21,637 80,970 2.9 2.7 2.6 10.3 9.8 9.1 16.4 14.1 12.4 13.2% 0.9 5.6% (5.9%)

Twenty-First Century Fox, Inc. 30.36 22.66 34.83 58,230 15,444 75,282 2.8 2.7 2.5 12.3 10.6 10.1 20.7 15.6 13.5 14.8% 0.9 4.6% (8.4%)

Sony Corporation 25.03 20.64 37.26 31,571 1,250 38,770 0.5 0.5 0.5 6.3 5.7 4.8 23.9 31.4 16.7 10.0% 1.7 2.7% 0.9%

CBS Corporation 56.47 38.51 63.95 25,697 8,125 33,822 2.4 2.3 2.3 10.9 9.9 9.6 19.7 14.1 12.8 16.1% 0.8 1.5% 6.2%

Viacom, Inc. 41.98 30.11 70.71 16,626 12,049 28,954 2.2 2.2 2.1 7.6 7.6 7.2 7.5 8.2 7.7 4.7% 1.6 2.0% (2.5%)

Discovery Communications, Inc. 27.93 23.74 34.94 15,867 7,196 23,304 3.6 3.5 3.4 9.5 9.7 9.3 17.7 14.4 12.7 12.7% 1.0 5.3% (1.8%)

Scripps Networks Interactive, Inc. 62.47 47.62 72.11 8,051 3,787 12,250 4.1 3.6 3.5 9.0 8.9 8.6 13.4 12.4 11.7 10.4% 1.1 4.4% 27.3%

Tribune Media Company 38.90 26.10 56.98 3,605 3,216 6,827 3.4 3.1 3.0 17.4 10.7 12.0 18.5 17.5 19.2 3.0% 6.4 1.8% NA

Lions Gate Entertainment Corp. 22.28 16.21 41.41 3,342 1,506 4,937 2.2 1.9 1.8 73.9 17.5 11.5 56.9 24.4 13.9 36.2% 0.4 7.0% (10.8%)

Mean 2.8x 2.6x 2.5x 16.1x 9.9x 9.0x 21.2x 17.0x 13.8x 13.0% 1.6 4.1% 2.4%

Median 2.8 2.7 2.5 10.3 9.8 9.3 18.6 15.6 13.5 11.2% 1.1 4.4% (0.5%)

Publishers

Thomson Reuters Corporation $41.27 $37.70 $44.62 $31,119 $8,233 $39,842 3.3x 3.5x 3.4x 15.9x 12.5x 11.8x 26.9x 20.0x 17.7x 8.4% 2.1 2.9% (1.0%)

Pearson plc 11.81 9.45 20.05 9,581 1,127 10,713 1.6 1.7 1.6 10.3 9.6 8.9 NM 14.9 13.1 NM NM 0.7% NA

News Corporation 12.61 10.21 16.27 7,313 (1,883) 5,617 0.7 0.7 0.7 8.8 6.4 5.9 NM 25.7 22.1 7.7% 2.9 (2.0%) (4.3%)

UBM plc 8.34 6.77 8.98 3,693 737 4,475 3.9 3.8 3.6 15.3 13.6 12.5 31.1 16.5 13.9 6.8% 2.0 5.9% NA

Lagardere SCA 26.75 25.85 33.82 3,428 1,684 5,265 0.7 0.6 0.6 8.7 7.3 7.0 43.2 12.8 11.7 9.8% 1.2 0.2% (9.6%)

Graham Holdings Company 486.16 425.14 1,119.54 2,740 (734) 2,032 0.8 0.8 0.8 6.2 7.0 6.9 NM 19.8 19.7 NA NA (1.0%) (15.3%)

The New York Times Company 12.88 11.48 14.53 2,064 (182) 1,883 1.2 1.2 1.2 7.8 7.8 7.5 33.9 22.1 18.7 4.0% 4.7 0.2% 0.0%

Gannett Co., Inc. 16.82 10.75 17.91 1,959 (197) 1,763 0.6 0.6 0.6 4.4 4.4 4.2 13.8 10.5 10.1 NM NM (0.7%) (8.1%)

Time Inc. 15.27 12.23 24.26 1,558 582 2,140 0.7 0.7 0.7 5.3 4.6 4.4 NM 10.8 9.3 6.5% 1.4 (1.0%) (1.8%)

The E. W. Scripps Company 15.70 14.56 25.02 1,317 291 1,608 2.2 1.6 1.7 48.4 6.5 11.0 NM 13.1 47.0 3.0% 15.7 (5.7%) 36.0%

Tribune Publishing Company 11.21 5.45 17.64 355 349 704 0.4 0.4 0.4 6.3 4.9 5.4 NM 10.2 13.5 NA NA (3.4%) 1.0%

Mean 1.5x 1.4x 1.4x 12.5x 7.7x 7.8x 29.8x 16.0x 17.9x 6.6% 4.3 (0.4%) (0.3%)

Median 0.8 0.8 NM 8.7 7.0 7.0 31.1 14.9 13.9 6.8% 2.1 (0.7%) (1.8%)


5


Notes:



Stock LTM EPS



Diversif ied Marketing

WPP plc $23.41 $18.67 $24.78 $30,279 $4,735 $35,572 2.0x 1.8x 1.7x 11.3x 11.1x 10.4x 18.0x 15.2x 14.0x 8.4% 1.7 4.6% (0.1%)

Nielsen Holdings plc 52.51 42.76 54.59 18,962 7,242 26,400 4.3 4.1 3.9 17.3 13.4 12.5 31.9 18.2 16.5 10.9% 1.5 5.3% 2.0%

Experian plc 18.35 14.91 18.98 17,206 3,340 20,562 4.4 4.6 4.2 13.8 13.2 12.0 26.7 20.3 18.3 11.0% 1.7 9.7% (6.4%)

Equifax Inc. 121.22 90.94 122.55 14,427 2,972 17,445 6.4 5.6 5.1 18.9 16.0 14.3 33.0 23.2 21.0 11.6% 1.8 9.2% 11.7%

Alliance Data Systems Corporation 202.82 176.63 307.78 11,989 16,961 29,142 4.5 4.1 3.7 19.1 14.2 12.9 22.9 12.1 10.8 14.1% 0.8 11.5% 4.7%

The Interpublic Group of Companies, Inc. 23.34 18.16 24.27 9,392 1,063 10,734 1.4 1.4 1.3 10.3 9.5 9.0 21.1 17.7 15.6 13.2% 1.2 4.5% 3.9%

Havas SA 8.33 7.45 9.50 3,477 (96) 3,398 1.4 1.3 1.2 9.0 7.7 7.3 18.7 15.1 14.2 9.3% 1.5 3.9% 3.8%

Acxiom Corporation 21.93 15.78 23.42 1,704 15 1,719 1.6 1.9 1.8 10.1 11.4 9.1 NM 37.8 24.8 12.5% 2.0 6.7% 6.2%

MDC Partners Inc. 20.50 16.15 23.90 1,058 680 1,887 1.4 1.3 1.2 11.4 8.2 7.3 NM 21.0 15.6 27.3% 0.6 7.8% 5.6%

Harte-Hanks Inc. 1.79 1.81 6.57 111 60 171 0.4 0.4 0.4 6.3 4.8 3.6 NM 12.8 8.4 NM NM 1.3% (8.6%)

Mean 2.8x 2.7x 2.5x 12.8x 10.9x 9.8x 24.6x 19.3x 15.9x 13.1% 1.4 6.5% 2.3%

Median 1.8 1.9 1.8 11.3 11.2 9.8 22.9 18.0 15.6 11.6% 1.5 6.0% 3.8%

Gaming

Tencent Holdings Limited $20.48 $15.98 $21.55 $189,252 ($2,288) $187,282 11.8x 9.0x 7.1x 28.3x 21.3x 17.2x 43.5x 29.8x 23.3x 26.4% 0.9 26.3% 38.6%

Activision Blizzard, Inc. 34.58 22.66 39.93 25,523 2,248 27,771 6.0 4.4 4.0 19.6 12.9 11.0 29.1 19.4 16.6 14.4% 1.2 9.8% (14.2%)

Electronic Arts Inc. 62.89 53.01 76.92 19,453 (2,889) 16,564 3.9 3.6 3.3 17.6 11.0 9.5 32.2 19.3 16.5 11.5% 1.4 8.4% (5.0%)

NetEase, Inc. 139.38 102.80 186.45 18,325 (3,605) 14,733 4.2 2.8 2.3 12.8 10.2 9.0 17.7 13.5 12.0 24.3% 0.5 22.0% 118.0%

Naver Corporation 596.17 402.73 607.61 17,371 (1,433) 16,086 5.3 4.6 4.1 18.8 14.7 11.9 35.2 28.6 22.5 23.4% 1.0 13.5% 23.4%

Gamesa Corporación Tecnológica S.A. 19.46 12.56 21.03 5,374 (373) 5,001 1.3 1.0 1.0 13.0 7.6 7.1 27.9 18.4 16.9 24.9% 0.7 5.2% 1.1%

NCsoft Corporation 195.65 156.08 243.57 4,156 (810) 3,363 4.7 3.8 3.3 14.5 10.2 8.3 30.2 18.0 13.7 20.6% 0.7 16.5% (6.5%)

Ubisoft Entertainment SA 30.17 17.08 32.82 3,324 180 3,504 2.6 1.6 1.7 NM 4.3 3.8 NM 13.5 17.4 28.0% 0.6 (9.4%) (62.1%)

DeNA Co., Ltd. 17.19 14.38 25.39 2,492 (631) 1,924 1.6 1.4 1.3 7.0 5.3 4.4 26.9 14.0 10.9 10.0% 1.1 3.9% (2.1%)

GungHo Online Entertainment, Inc. 2.54 2.22 4.78 2,440 (762) 1,692 1.3 1.4 1.7 2.9 3.1 3.9 7.6 8.0 9.4 NA NA (17.0%) (24.1%)

Zynga, Inc. 2.37 1.78 3.13 2,071 (987) 1,083 1.4 1.4 1.3 NM 23.4 12.2 NM NM 42.7 21.0% 2.0 8.0% (3.5%)

Gree, Inc. 5.79 4.30 7.35 1,362 (688) 673 1.0 1.1 1.0 3.8 4.6 4.5 NM 16.5 19.7 NA NA 3.9% (18.4%)

Changyou.com Limited 19.81 15.21 35.27 1,006 (653) 384 0.6 0.7 0.6 1.8 2.6 2.7 5.3 8.4 7.8 4.0% 2.0 11.1% (37.8%)

Glu Mobile, Inc. 2.72 1.98 7.03 360 (181) 179 0.7 0.7 0.6 28.7 NM 19.9 NM NM NM 15.0% NM 18.1% (16.2%)

Mean 3.3x 2.7x 2.4x 14.1x 10.1x 8.9x 25.6x 17.3x 17.6x 18.6% 1.1 8.6% (0.6%)

Median 2.1 1.5 1.7 13.8 10.2 8.6 28.5 17.3 16.6 20.8% 1.0 9.1% (5.7%)

Social Media & New Platform

Facebook, Inc. $118.57 $72.00 $120.79 $339,146 ($20,621) $318,525 16.1x 12.2x 9.2x 33.8x 19.8x 15.3x 72.5x 33.1x 26.0x 32.5% 0.8 32.4% 51.9%

LinkedIn Corporation 128.85 98.25 258.39 17,017 (2,021) 15,023 4.7 4.0 3.4 56.4 14.9 12.0 NM 37.2 30.4 29.4% 1.0 19.4% 35.0%

Twitter, Inc. 14.40 39.40 38.96 10,006 719 10,725 4.5 3.9 3.2 NM 14.7 11.6 NM 27.9 21.1 32.5% 0.6 21.5% 36.4%

Pandora Media, Inc. 9.01 7.10 22.60 2,061 (110) 1,951 1.6 1.4 1.2 NM NM 44.8 NM NM NM 42.3% NM 18.4% 28.8%

Groupon, Inc. 3.49 2.15 7.19 2,017 (636) 1,382 0.4 0.5 0.4 45.0 11.6 7.3 NM NM 64.6 21.5% 3.0 4.2% (2.5%)

Yelp Inc. 21.51 14.53 50.99 1,636 (371) 1,265 2.3 1.8 1.5 NM 13.3 9.2 NM 39.8 26.3 32.6% 0.8 24.5% 39.9%

Mean 4.9x 4.0x 3.1x 45.1x 14.9x 16.7x NM 34.5x 33.7x 31.8% 1.3 20.1% 31.6%

Median 3.4 2.9 2.4 45.0 14.7 11.8 NM 35.2 26.3 32.5% 0.8 20.5% 35.7%


6


Notes:



Stock LTM EPS



SaaS

salesforce.com, inc. $77.25 $52.60 $82.90 $52,409 $715 $53,124 8.0x 6.5x 5.5x NM 31.7x 26.8x NM 76.3x 59.4x 26.6% 2.2 19.8% 25.3%

Workday, Inc. 75.45 47.32 93.62 14,783 (1,462) 13,321 11.5 8.6 6.6 NM 98.9 58.1 NM NM NM 41.9% NM 30.8% 42.9%

ServiceNow, Inc. 72.02 46.00 91.28 11,728 (418) 11,310 10.3 8.3 6.3 NM 45.6 30.2 NM NM 70.9 48.2% 1.5 30.2% 44.3%

NetSuite Inc. 81.61 51.75 102.46 6,564 (105) 6,460 8.1 6.7 5.3 NM 78.3 59.0 NM NM NM 21.4% NM 27.1% 31.4%

The Ultimate Software Group, Inc. 197.64 148.26 216.27 5,701 (86) 5,615 8.5 7.2 6.0 87.2 29.1 23.5 NM 60.7 49.0 26.0% 1.9 20.9% 29.2%

Shopify Inc. 31.41 18.48 42.13 2,524 (192) 2,332 11.4 7.1 5.2 NM NM NM NM NM NM 25.0% NM 37.2% 99.5%

Zendesk, Inc. 23.50 11.06 28.20 2,143 (256) 1,887 9.0 6.3 4.8 NM NM NM NM NM NM 36.2% NM 33.5% 62.5%

Cornerstone OnDemand, Inc. 34.30 22.25 40.70 1,879 (12) 1,868 5.5 4.3 3.5 NM 50.6 30.2 NM NM NM 20.0% NM 23.6% 25.5%

RealPage, Inc. 22.54 16.06 23.98 1,774 9 1,783 3.8 3.1 2.7 33.7 15.0 12.2 NM 31.8 25.8 20.0% 1.3 14.7% 16.5%

Demandware, Inc. 46.42 26.47 75.90 1,697 (196) 1,502 5.9 4.9 3.9 NM 56.0 40.0 NM NM NM 34.2% NM 26.0% 33.4%

HubSpot, Inc. 47.22 27.00 60.11 1,648 (104) 1,545 8.5 6.2 4.7 NM NM NM NM NM NM 36.0% NM 30.3% 55.5%

Box, Inc. 12.91 8.82 20.60 1,565 (141) 1,424 4.7 3.6 2.9 NM NM NM NM NM NM 68.4% NM 26.4% 35.7%

Cvent, Inc. 35.34 17.85 37.25 1,491 (145) 1,346 7.2 5.8 4.8 NM 46.9 34.5 NM NM NM 30.0% NM 21.5% 29.5%

RingCentral, Inc. 19.51 13.88 25.67 1,409 (103) 1,306 4.1 3.6 2.9 NM 67.3 37.4 NM NM NM 23.3% NM 21.8% 32.5%

Marketo, Inc. 21.90 12.86 33.99 974 (93) 886 3.9 3.2 2.6 NM NM NM NM NM NM 20.0% NM 25.1% 35.3%

MINDBODY, Inc. 13.50 9.14 18.39 536 (77) 458 4.5 3.4 2.6 NM NM NM NM NM NM NA NA 28.4% 40.1%

AppFolio, Inc. 12.69 11.07 19.94 426 (22) 404 5.4 3.9 3.0 NM NM NM NM NM NM 30.0% NM 32.8% 54.3%

LivePerson Inc. 6.08 3.74 10.66 349 (49) 300 1.3 1.3 1.2 17.6 13.2 11.3 NM 73.1 30.9 20.0% 1.5 7.7% 1.6%

ChannelAdvisor Corporation 12.66 8.71 14.73 322 (56) 265 2.6 2.4 2.0 NM NM 52.7 NM NM NM 25.0% NM 15.0% 23.5%

Jive Software, Inc. 4.09 2.84 5.99 313 (103) 211 1.1 1.0 1.0 NM 37.5 19.2 NM NM NM NA NA 2.1% 5.2%

Apigee Corporation 9.74 5.14 16.94 290 (71) 219 2.8 2.1 1.6 NM NM NM NM NM NM NA NA 29.8% 34.6%

Bazaarvoice, Inc. 3.38 2.82 6.56 277 (52) 225 1.1 1.1 1.0 NM 50.5 16.9 NM NM NM NA NA 6.5% 1.4%

Xactly Corporation 8.23 4.68 10.67 245 (32) 213 2.8 2.2 1.8 NM NM NM NM NM NM 20.0% NM 24.3% 30.3%

Brightcove Inc. 6.18 4.70 7.72 203 (28) 174 1.3 1.2 1.1 83.4 19.8 15.0 NM 96.6 53.3 15.0% 3.6 9.9% 10.4%

Marin Software Incorporated 2.64 2.52 7.62 101 (34) 66 0.6 0.6 0.6 NM 15.2 7.3 NM NM NM NA NA 6.9% 7.5%

Mean 5.4x 4.2x 3.3x 55.5x 43.7x 29.6x NM 67.7x 48.2x 29.4% 2.0 22.1% 32.3%

Median 4.7 3.6 2.9 58.6 45.6 28.5 NM 73.1 51.1 25.5% 1.7 24.3% 31.4%


7


Notes:


($MM)

Announced

DateAcquirer Target Aggregate Value

AV / LTM

Sales

AV / LTM

EBITDA

AV / NTM

Sales

AV / NTM

EBITDA

5/3/2016 $115 NA NA NA NA

5/2/2016 $566 3.8x NM 3.6x NM

4/29/2016 $789 1.6x 6.8x 1.5x 5.2x

4/28/2016 $631 6.8x NM 5.8x NM

4/28/2016 $4,069 4.4x 39.5x 4.4x 37.2x

4/22/2016 $90 0.5x NA NA NA

4/19/2016 $360 NA NA NA NA

4/18/2016 $1,473 7.8x NM 6.1x NM

4/5/2016 $168 NA NA NA NA

4/4/2016 $275 NA NA NA NA

3/25/2016 $100 NA NA NA NA

3/22/2016 $540 NA NA NA NA

3/21/2016 $56 NA NA NA NA

(1)(2)

Marketing Applications Business

(2)

(1)

(1)

(1)

(1)

Recent Acquisitions

8

Internet / Digital Media / SaaS: Trailing 6 Months

Notes:

Multiples 50x considered NM.

Disclosed transactions with Aggregate Value

($MM)

Announced


AV / LTM

Sales

AV / LTM

EBITDA

AV / NTM

Sales

AV / NTM

EBITDA

3/21/2016 $200 NA NA NA NA

3/17/2016 $72 2.7x NM NA NA

3/7/2016 $207 1.7x NA NA NA

3/3/2016 $100 NA NA NA NA

3/1/2016 $260 NA NA NA NA

2/25/2016 $250 NA NA NA NA

2/24/2016 $400 10.7x NA NA NA

2/23/2016 $68 1.2x 11.3x NA NA

2/18/2016 $500 NA NA NA NA

2/14/2016 $389 4.1x 22.1x 3.1x 15.7x

2/12/2016 $85 NA NA NA NA

2/12/2016 $108 NA NA NA NA

2/4/2016 $100 NA NA NA NA

(3) (4)

(1)

(2)

(1)

(1)

Notes:



($MM)

Announced


AV / LTM

Sales

AV / LTM

EBITDA

AV / NTM

Sales

AV / NTM

EBITDA

2/4/2016 $342 1.6x NA NA NA

2/3/2016 $1,400 11.7x NA NA NA

2/3/2016 $96 NA NA NA NA

2/1/2016 $379 6.6x NM 4.2x NA

1/20/2016 $130 NA NA NA NA

1/20/2016 $200 5.0x NA NA NA

1/11/2016 $155 4.8x NA NA NA

1/11/2016 $135 NA NA NA NA

1/11/2016 $62 NA NA NA NA

12/23/2015 $100 5.0x NA NA NA

12/23/2015 $300 NA NA NA NA

12/22/2015 $175 2.3x NA NA NA

12/17/2015 $475 NA NA NA NA

(5)

(6)

(4)

(3)

(2)

(1)

(1)

Notes:



($MM)

Announced


AV / LTM

Sales

AV / LTM

EBITDA

AV / NTM

Sales

AV / NTM

EBITDA

12/15/2015 $841 2.8x NA NA NA

12/8/2015 $200 8.0x NA NA NA

12/1/2015 $180 1.3x 9.2x NA NA

11/16/2015 $163 NA NA NA NA

11/9/2015 $280 NM NA NA NA

11/5/2015 $450 7.9x NM 5.0x NA

11/4/2015 $2,929 6.0x 30.0x 5.3x 19.9x

11/3/2015 $649 0.5x NA NA NA

11/3/2015 $95 47.5x NA NA NA

11/3/2015 $4,963 2.4x 5.7x 2.8x 7.3x

11/2/2015 $937 2.6x 13.3x 2.3x 11.0x

(5)

(5)

(6)

(4)

(6)

(3)

(1)

(2)

Notes:



IPO Pipeline

12

Internet / Digital Media / SaaS: IPOs in Public Registration

Notes:

Source: Dealogic, Capital and SEC.gov.

Offering Amounts $10MM or Greater

Primary Initial Initial Offering LTM

Issuer Industry Filing Date Amount ($MM) Description Revenue EBIT % EBITDA

Internet Software and Services 12/22/15 $200

Nutanix, Inc., together with its subsidiaries,

provides enterprise cloud platform solutions that

converge traditional silos of server, virtualization,

and storage into one integrated solution.

$283 (45.7%) ($111)

Offering Amounts $10MM or Greater

Primary Initial Date Initial Offering

Issuer Industry Filing Date Withdrawn Amount ($MM) Description

Application Software 06/03/15 08/18/15 $100

SunGard Data Systems provides solutions that automate the

business processes associated with trading, managing investment

portfolios, and accounting for investment assets.

Internet Software and Services 04/16/14 05/08/15 100 Zoosk, Inc. operates an online dating platform that helps singles to

find the person and relationship that is right for them.

IPO Pipeline

13

Internet / Digital Media / SaaS: Recently Withdrawn IPOs / Follow-ons

Notes:

Source: Dealogic, Capital and SEC.gov.

0

200

400

600

800

1,000

$0

$2

$4

$6

$8

$10

$12

Q1 2001 Q1 2002 Q1 2003 Q1 2004 Q1 2005 Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012 Q1 2013 Q1 2014 Q1 2015 Q1 2016

Nu

mb

er

of

Inve

stm

en

ts

$B

n

Quarter - Year

Number of Deals Investment Amount

Notes:

(1) Number of TMT VC Investments per PriceWaterhouseCoopers / NVCA MoneyTree report. TMT inclusive of: Computers and Peripherals, Electronics

/ Instrumentation, IT Services, Media and Entertainment, Networking and Equipment, Semiconductors, Software and Telecommunications.

Venture Capital Industry

14

TMT: Transactions Since 2001

(1)

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

0

20

40

60

80

100

120

Jan

-07

Ma

r-07

Ma

y-07

Jul-0

7

Se

p-0

7

No

v-0

7

Jan

-08

Ma

r-08

Ma

y-08

Jul-0

8

Se

p-0

8

No

v-0

8

Jan

-09

Ma

r-09

Ma

y-09

Jul-0

9

Se

p-0

9

No

v-0

9

Jan

-10

Ma

r-10

Ma

y-10

Jul-1

0

Se

p-1

0

No

v-1

0

Jan

-11

Ma

r-11

Ma

y-11

Jul-1

1

Se

p-1

1

No

v-1

1

Jan

-12

Ma

r-12

Ma

y-12

Jul-1

2

Se

p-1

2

No

v-1

2

Jan

-13

Ma

r-13

Ma

y-13

Jul-1

3

Se

p-1

3

No

v-1

3

Jan

-14

Ma

r-14

Ma

y-14

Jul-1

4

Se

p-1

4

No

v-1

4

Jan

-15

Ma

r-15

Ma

y-15

Jul-1

5

Se

p-1

5

No

v-1

5

Jan

-16

Ma

r-16

$M

M

Nu

mb

er

of

Fin

an

cin

gs

Notes:

Source: DowJones VentureWire.

Only financings > $10MM included.

(1) Chart excludes Groupon’s $377MM raise on 12/29/10.

(2) Chart excludes Facebook’s $1.5Bn raise on 1/21/11.

(3) Chart excludes Supercell’s $1.6Bn raise on 10/15/13.

(4) Chart excludes Lyft’s $332MM raise on 4/2/14.

(5) Chart excludes Good Technology’s $583MM raise on 4/10/2014.

(6) Chart excludes Uber’s $1.5Bn raise on 6/6/2014.

(7) Chart excludes Koudai Shopping’s $567MM raise on 10/23/2014, Magic Leap’s $550MM raise on 10/14/2014, and CarTradeExchange.com’s $1.9Bn raise on 10/13/2014.

Private Financing Activity

15

Internet / Digital Media / Software: Monthly Since January 2007

0

5

10

15

20

25

30

0

250

500

750

1,000

1,250

Se

p-1

1

Au

g-1

1

Ju

l-11

Ju

n-1

1

Ma

y-1

1

Ap

r-11

Ma

r-11

Fe

b-1

1

Ja

n-1

1

De

c-1

0

No

v-1

0

Oct-1

0

Se

p-1

0

Au

g-1

0

Ju

l-10

Ju

n-1

0

Ma

y-1

0

Ap

r-10

Ma

r-10

Fe

b-1

0

Ja

n-1

0

De

c-0

9

No

v-0

9

Oct-0

9

Se

p-0

9

Au

g-0

9

Ju

l-09

Ju

n-0

9

Ma

y-0

9

Ap

r-09

Ma

r-09

Fe

b-0

9

Ja

n-0

9

De

c-0

8

No

v-0

8

Oct-0

8

Se

p-0

8

Au

g-0

8

Ju

l-08

Ju

n-0

8

Ma

y-0

8

Ap

r-08

Ma

r-08

Fe

b-0

8

Ja

n-0

8

De

c-0

7

No

v-0

7

Oct-0

7

Se

p-0

7

Au

g-0

7

Ju

l-07

Ju

n-0

7

Ma

y-0

7

Ap

r-07

Ma

r-07

Fe

b-0

7

Ja

n-0

7

Nu

mb

er

of

Fin

an

cin

gs

$M

M

Amount Raised ($MM) Number of Financings

(2)

(3)

(1)

(4) (5)

(6)

(7)

Ap

r-16

($MM)

Name

Announced

Date Series Amount Lead Investor Other Investors Brief Business Description

Total

Raised

Drivy

Paris, France

www.drivy.com

28-Apr-2016 Series C $34 Cathay Capital Private Equity, Nokia

Growth Partners

Bpifrance, Cathay Capital Private Equity, Index Ventures, Nokia

Growth Partners, Via-IDProvider of peer-to-peer, car-rental platform. $54

Evident.io

Dublin, CA

www.evident.io

28-Apr-2016 Series B $16 Venrock Venrock Provider of cloud-based security services. $27

Seclore

Santa C lara, CA

www.seclore.com

27-Apr-2016 Series B $12 Not disclosedHelion Venture Partners, India Alternatives Investment Advisors,

Sistema, VenturEast

Developer of enterprise software products focusing on information rights

management.$19

TaskEasy

Walnut, CA

www.taskeasy.com

26-Apr-2016 Series B $12 Delta ElectronicsAccess Venture Partners, Delta Electronics, Grotech Ventures,

Kickstart Seed Fund, Moderne Ventures, MTD Products

Provider of an online platform that allows contractors and property owners to buy

or sell contractor services.$26

Trov

Danville, CA

www.trov.com

26-Apr-2016 Series C $26 Oak HC/FT Anthemis Group, Guidewire Software, Oak HC/FT, Suncorp GroupDeveloper of applications that help people collect and benefit from information

about their assets.$39

Ant F inancial

Hangzhou, China

www.antgroup.com

26-Apr-2016 Series B $4,500 China Construction Bank, China

Investment Corporation

China Construction Bank, China Development Bank, China

Investment Corporation, China Life Insurance, China Post Group,

New China Life Insurance Company, Primavera Capital Group

Provider of online payment service. $6,400

Lendix

Paris, France

www.lendix .com

26-Apr-2016 Series B $14 Not disclosed

CNP Assurances, Decaux Brothers Investments, Inter Mutuelles

Entreprises, Partech Ventures, Sycomore Asset Management,

Weber Investissements, Zencap

Provider of an online crowd-lending platform. $26

Mark43

New York , NY

www.mark43.com

26-Apr-2016 Series B $27 General Catalyst Partners, Spark Capital

General Catalyst Partners, Govtech Fund, Jeffrey Bezos, Lowercase

Capital, Sound Ventures, Spark Capital, SV Angel, The Goldman

Sachs Group

Creator of information-management software for the law-enforcement and military

sectors.$40

Remitly

Seattle, WA

www.remitly.com

26-Apr-2016 Series C $39 Stripes GroupBezos Expeditions, DN Capital, Draper Fisher Jurvetson, Stripes

Group, Trilogy Equity Partners, Vulcan CapitalProvider of online remittance services. $61

TranServ

Mumbai, India

www.transerv.co.in

26-Apr-2016 Series C $15 IDFC Asset Management Company,

Micromax Informatics

Faering Capital, IDFC Asset Management Company, Micromax

Informatics, Nirvana Venture AdvisorsProvider of digital payment services for banks and retailers. $15

VidSys

Vienna, VA

www.vidsys.com

26-Apr-2016 Private Equity $11 Harmony Partners, NewSpring CapitalAtlanta Equity, Flybridge Capital Partners, Harmony Partners, JVax

Investment Group, NewSpring CapitalProvider of converged security and information management (CSIM) software. $47

bitF lyer

Tokyo, Japan

www.bitf lyer.jp

25-Apr-2016 Series C $27 SBI Investment, Venture Labo

InvestmentSBI Investment, Venture Labo Investment Operator of a bitcoin exchange marketplace. $34

Dispersive Technologies

Alpharetta, GA

www.dispersivetechnologies.com

25-Apr-2016 Angel $38 Not disclosed Not disclosedDeveloper and provider of cloud based virtualized dispersive networking

technologies.$42

Helium Systems

San Francisco, CA

www.helium.com

25-Apr-2016 Series B $20 GV FirstMark Capital, GV, Khosla Ventures, Munich Re/HSB Ventures Provider of Internet of Things (IoT) technology. $39

Recent Private Financings

16

Internet / Digital Media / Software

Notes:

Source: PitchBook.


($MM)

Name

Announced


Total

Raised

Kamcord

San Francisco, CA

www.kamcord.com

25-Apr-2016 Series C $10 Time Warner InvestmentsPlug and Play, Tencent Industry Win-Win Fund, Time Warner

Investments, TransLink Capital, Wargaming, XG VenturesProvider of tools for recording and sharing of games. $38

Unlockd

South Melbourne, Australia

www.unlockd.com

25-Apr-2016 Series A $11 Not disclosedGreg Roebuck, Lachlan Murdoch, Peter Gammell, Radek Sali, Sam

MostynProvider of a mobile-based media and telecommunications platform. $16

Security F irst

Rancho Santa Margarita, CA

www.securityfirstcorp.com

22-Apr-2016 Venture Round $38 Not disclosed Topspin Venture Developer of security software. $47

Deem

San Francisco, CA

www.deem.com

21-Apr-2016 Venture Round $34 PointGuard Ventures PointGuard VenturesDeveloper of a web based tool that manages the everyday details of business and

personal life.$536

Medium.com

San Francisco, CA

www.medium.com

21-Apr-2016 Series C $50 Spark Capital Andreessen Horowitz, GV, Spark Capital Creator of an online blog-hosting platform. $134

The RealReal

San Francisco, CA

www.therealreal.com

21-Apr-2016 Series E $40 Greenspring Associates

Broadway Angels, Canaan Partners, DBL Partners, e.ventures,

Greenspring Associates, Greycroft Partners, Industry Ventures,

InterWest Partners, NextEquity Partners

Operator of designer resale store. $123

Acorns

Irvine, CA

www.acorns.com

21-Apr-2016 Series D $30 Paypal Paypal, Rakuten Developer of an investing platform. $62

Anomali

Redwood C ity, CA

www.anomali.com

21-Apr-2016 Series C $30 IVP General Catalyst Partners, GV, IVP, Paladin Capital Group Provider of a SaaS-based cyber security intelligence platform. $57

Forter

San Francisco, CA

www.forter.com

21-Apr-2016 Series C $32 Scale Venture Partners New Enterprise Associates, Scale Venture Partners, Sequoia Capital Provider of an online fraud prevention platform. $50

Beijing-Tak Network Technology Co

Beijing, China

www.roseonly.com.cn

20-Apr-2016 Series C $31 Not disclosed Echo Capital Group, Genesis Capital, Yuansheng Capital Online retailer of floral products. $41

Bugcrowd

San Francisco, CA

www.bugcrowd.com

20-Apr-2016 Series B $15 Blackbird Ventures

Blackbird Ventures, Costanoa Venture Capital, Industry Ventures,

Paladin Capital Group, Rally Ventures, Salesforce Ventures,

Startmate

Provider of crowdsourced security testing. $24

Cabify

Madrid, Spain

www.cabify.es

20-Apr-2016 Series C $120 Rakuten Rakuten, Western Technology Investment Developer of a mobile application for car hires. $150

PicsArt

San Francisco, CA

www.picsart.com

20-Apr-2016 Series B $20 Not disclosed DCM Ventures, Siguler Guff & Company Provider of a mobile photo-editing application. $45

Apester

New York , NY

www.apester.com

19-Apr-2016 Series A $17 Blumberg Capital, Mangrove Capital

Partners

Blumberg Capital, Gigi Kaplan, Giora Kaplan, Mangrove Capital

Partners, Morris Kahn, Tal Kerret, Tal Simantov, Wellborn VenturesProvider of content platform that allows sharing content items. $18


17

Internet / Digital Media / Software (Cont’d)

Notes:

Source: PitchBook.


($MM)

Name

Announced


Total

Raised

Huochebang

Chengdu, China

www.56qq.com

19-Apr-2016 Series A $100 Yuansheng Capital

DCM Ventures, Eastern Bell Venture Capital, Genesis Capital,

Hillhouse Capital Management, Tencent Holdings, Yuansheng

Capital

Provider of an online truck logistics platform. $100

Diamanti

San Jose, CA

www.diamanti.com

19-Apr-2016 Series A $13 Not disclosedCharles River Ventures, Draper Fisher Jurvetson, GSR Ventures, The

Goldman Sachs GroupProvider of networking and storage appliance for Linux containers. $13

FusionOps

Mountain View, CA

www.fusionops.com

19-Apr-2016 Series C $25 Georgian Partners Georgian Partners, New Enterprise Associates, Prabhu Goel Developer of supply chain analytics software for businesses. $44

TapInfluence

Boulder, CO

www.tapinfluence.com

19-Apr-2016 Series B1 $14 Noro-Moseley PartnersAccess Venture Partners, Grotech Ventures, MergeLane, Noro-

Moseley Partners, Robin FerraconeProvider of a marketing automation platform. $23

TrapX Security

San Mateo, CA

www.trapx .com

19-Apr-2016 Series B $14 Intel Capital, Liberty Venture PartnersBRM Capital, Intel Capital, Liberty Venture Partners, Opus Capital,

Strategic Cyber VenturesProvider of a cloud-based and on -remises cyber security platform. $19

4M Industrial Ox idation

Knoxville, TN

4mio.com

18-Apr-2016 Angel $10 Not disclosed Not disclosed Developer of plasma oxidation technology. $10

BaubleBar

New York , NY

www.baublebar.com

18-Apr-2016 Series C $21 Accel PartnersAccel Partners, Aspect Venture Partners, Burch Creative Capital,

DSW, Greycroft Partners, Hubert Burda Media, Simon Venture GroupProvider of an e-commerce jewelry platform. $39

HomeLight

San Francisco, CA

www.homelight.com

18-Apr-2016 Series A $11 Zeev Ventures

Bullpen Capital, Dovi Frances, Innovation Endeavors, Krillion

Ventures, Montage Ventures, Oren Dobronsky, Yariv Davidovich,

Zeev Ventures

Provider of real estate technology that matches home-buyers and sellers with real

estate agents.$16

HomeToGo

Berlin, Germany

www.hometogo.de

15-Apr-2016 Series B $20 Insight Venture Partners Acton Capital Partners, DN Capital, Insight Venture Partners Provider of a metasearch engine for vacation rentals. $29

Threat Stack

Boston, MA

www.threatstack .com

15-Apr-2016 Venture Round $15 Not disclosed Not disclosed Developer of digital security services. $27

Wolt

Helsink i, F inland

www.woltapp.com

15-Apr-2016 Series B $11 EQT Ventures EQT Ventures, Ilkka Paananen, Niklas Zennström, Risto Siilasmaa Provider of an online food ordering platform. $14

Onfido

London, United Kingdom

www.onfido.com

14-Apr-2016 Series B $25 IDInvest Partners CrunchFund, IDInvest Partners, Wellington PartnersProvider of an online platform that uses technology to automate the background

checking process.$30

Eversight

Palo Alto, CA

www.eversightlabs.com

14-Apr-2016 Venture Round $14 Not disclosed Not disclosed Provider of machine learning and data science technologies. $24

RigUp

Austin, TX

www.rigup.com

14-Apr-2016 Series A $15 Not disclosedBoxGroup, Founders Fund, Frees Fund, GE Ventures, Great Oaks

Venture Capital, Moore CapitalDeveloper of a software platform for oil rig logistics. $18


18


Notes:

Source: PitchBook.


($MM)

Name

Announced


Total

Raised

Nauto

Palo Alto, CA

www.nauto.com

13-Apr-2016 Series A $12 Playground Global Draper Nexus, Index Ventures, Playground Global Provider of an online traffic monitoring device. $15

Poshmark

Redwood C ity, CA

www.poshmark .com

13-Apr-2016 Series C1 $25 GGV Capital

AngelList, GGV Capital, Inventus Capital Partners, Mayfield, Menlo

Ventures, Shea Ventures, SoftTech VC, Union Grove Venture

Partners

Operator of an online marketplace for fashion. $72

C loudEndure

New York , NY

www.cloudendure.com

13-Apr-2016 Series B $13 Infosys Technologies, Magma Venture

PartnersInfosys Technologies, Magma Venture Partners Developer and provider of a business continuity application. $18

NEXThink

Pril ly, Switzerland

www.nexthink .com

13-Apr-2016 Series E $40 Highland Capital Partners EuropeAuriga Partners, Galeo-Ventures, Highland Capital Partners Europe,

WayPoint Capital Partners

Developer of a software tool to measure and manage information security

programs.$69

NodeSource

San Francisco, CA

www.nodesource.com

13-Apr-2016 Series A $10 RRE Ventures Crosslink Capital, Resolute Ventures, RRE Ventures Provider of enterprise grade software products. $13

Blis Media


www.blis.com

12-Apr-2016 Series B $25 Not disclosed Beringea, Endeit Capital, Unilever Ventures Provider of an online platform for Internet advertising. $27

CropX

Tel Aviv, Israel

www.cropx .com

12-Apr-2016 Series A $10 Finistere Ventures, GREENSOIL

Investments, Innovation Endeavors

Finistere Ventures, Flextronics Lab IX, GREENSOIL Investments,

Innovation Endeavors, OurCrowd, Robert Bosch Venture CapitalDeveloper of an irrigation software. $11

Datera

Mountain View, CA

www.datera.io

12-Apr-2016 Venture Round $40 Not disclosedAndreas Bechtolsheim, Khosla Ventures, Pradeep Sindhu, Samsung

Venture InvestmentProvider of data storage software systems. $48

Huoli Tianhui

Beijing, China

www.huoli.com

12-Apr-2016 Series C $933 Not disclosedCaissa Shijia Asset Management Partnership, Dapeng Air Service,

HNA-Caissa Travel Group, Matrix Partners ChinaDeveloper of mobile application for flight and train ticketing. $953

The F irst Chedai

Beijing, China

www.chedai.com

12-Apr-2016 Venture Round $33 China Growth Capital China Growth Capital, Matrix Partners China Provider of an online loan-financing platform. $33

LendStreet

Oak land, CA

www.lendstreet.com

11-Apr-2016 Venture Round $28 Not disclosed Not disclosed Provider of an online lending platform for debt restructuring and refinancing. $28

Marxent

Kettering, OH

www.marxentlabs.com

11-Apr-2016 Series B $10 Detroit Venture Partners, Stage 1

VenturesDetroit Venture Partners, Stage 1 Ventures Developer of virtual reality mobile applications. NA

PerimeterX

San Mateo, CA

www.perimeterx .com

11-Apr-2016 Series A $12 Not disclosed Andy Bechtolsheim, Data Collective, Vertex Ventures Provider of cloud and web security. $15

RideLabs

San Francisco, CA

www.instantcab.com

8-Apr-2016 Series A $12 Not disclosed Khosla Ventures Provider of transportation services and a transportation mobile application. $12


19


Notes:

Source: PitchBook.


($MM)

Name

Announced


Total

Raised

Electric Imp

Los Altos, CA

www.electricimp.com

7-Apr-2016 Series C $21 Rampart Capital Rampart Capital, Redpoint Ventures Provider of technology to connect devices to the Internet, wirelessly. $44

Twiggle

Tel Aviv, Israel

www.twiggle.com

7-Apr-2016 Series A $13 Naspers Naspers, Ronald Cohen, State Of Mind Ventures, Yahoo Japan Provider of an online search engine. $15

Globality ( IT)

Menlo Park , CA

www.globality.com

7-Apr-2016 Series B $27 Not disclosed Al Gore, John Joyce, Ken Goldman, Michael Marks, Ron Johnson Provider of global technological services. $37

Intercom

San Francisco, CA

www.intercom.io

7-Apr-2016 Series D $50 Index VenturesBessemer Venture Partners, ICONIQ Capital, Index Ventures, The

Social+Capital Partnership

Provider of a customer relationship management and messaging tool for web

businesses.$116

Luxe

San Francisco, CA

www.luxevalet.com

7-Apr-2016 Series B $50 The Hertz Redpoint Ventures, The Hertz, Venrock Provider of mobile application for valet parking. $76

x .ai

New York , NY

www.x .ai

7-Apr-2016 Series B $23 Two Sigma Investments

CrunchFund, DCM Ventures, FirstMark Capital, IA Ventures, Lerer

Hippeau Ventures, Pritzker Group Venture Capital, SoftBank

Capital, Two Sigma Investments, Work-Bench

Provider of an artificial intelligence powered personal assistant application. $34

IronPlanet

Pleasanton, CA

www.ironplanet.com

6-Apr-2016 Venture Round $14 Not disclosed Not disclosed Provider of an online marketplace for used heavy equipment. $153

CrossChx

Columbus, OH

crosschx .com

6-Apr-2016 Series C $15 Not disclosedDrive Capital, Khosla Ventures, Moonshots Capital, NCT Ventures,

Silicon Valley BankProvider of patient identification and security technologies for healthcare facilities. $35

Endless Mobile

San Francisco, CA

www.endlessm.com

6-Apr-2016 Angel $23 Not disclosed Not disclosed Manufacturer of a computer device. $33

F inanzcheck .de

Hamburg, Germany

www.finanzcheck .de

6-Apr-2016 Series C $37 HarbourVest PartnersActon Capital Partners, HarbourVest Partners, Highland Capital

Partners EuropeProvider of consumer loan technology platform. $52

Vasona Networks

San Jose, CA

www.vasonanetworks.com

6-Apr-2016 Series C $15 Not disclosedBessemer Venture Partners, New Venture Partners, Nexstar Capital

Partners

Provider of platforms for mobile network capacity, resource management and

edge intelligence.$40

Mintigo

San Mateo, CA

www.mintigo.com

5-Apr-2016 Series D $15 Sequoia Capital Sequoia Capital Provider of an intelligent lead-generation services for customers. $34

Origami Energy

Cambridge, United Kingdom

www.origamienergy.com

5-Apr-2016 Series A $20 Not disclosed Cambridge Innovation Capital, Fred. Olsen, Octopus Investments Provider of grid-scale energy management services. $25

Vinomofo

Cremorne, Australia

www.vinomofo.com

5-Apr-2016 Venture Round $19 Blue Sky Alternative Investments Blue Sky Alternative Investments Operator of an e-commerce site for wine. NA


20


Notes:

Source: PitchBook.


($MM)

Name

Announced


Total

Raised

MariaDB

Espoo, F inland

www.mariadb.com

5-Apr-2016 Series C $12 Not disclosed California Technology Ventures, Intel Capital, SmartFin Capital Provider of a database software. $44

Persado

New York , NY

www.persado.com

5-Apr-2016 Series C $30 The Goldman Sachs GroupAmerican Express Ventures, Bain Capital Ventures, Citi Ventures,

StarVest Partners, The Goldman Sachs Group, TLcom CapitalProvider of marketing software. $66

Virool

San Francisco, CA

www.virool.com

5-Apr-2016 Series A $20 Not disclosed 500 Startups, FJ Labs, Flint Capital, Menlo Ventures, Yahoo Japan Developer of social video advertising platform. $27

EdCast

Mountain View, CA

www.edcast.com

4-Apr-2016 Venture Round $13 Not disclosed Not disclosed Provider of an online learning platform. $19

Eris


www.erisindustries.com

1-Apr-2016 Grant $1 Mondroit Capital Mondroit Capital Developer of legal software systems. $1

Slack Technologies

San Francisco, CA

www.slack .com

1-Apr-2016 Venture Round $200 Thrive CapitalAccel Partners, Comcast Ventures, GGV Capital, Index Ventures,

Spark Capital, The Social+Capital Partnership, Thrive CapitalDeveloper of a real time messaging, archiving and search tool. $547

Swanest


www.swanest.com

1-Apr-2016 Seed $10 Andreessen Horowitz Andreessen Horowitz Provider of an online brokerage platform. $10

Home24

Berlin, Germany

www.home24.de

31-Mar-2016 Venture Round $22 Baillie GiffordBaillie Gifford, HV Holtzbrinck Venture, Investment AB Kinnevik,

Rocket Internet

Provider of an online shopping platform for furniture, interior decorating, lighting

and other home accessories.$176

Mashable

New York , NY

www.mashable.com

31-Mar-2016 Series C $15 Turner Broadcasting SystemR&R Ventures Partners, Time Warner Investments, Turner

Broadcasting System, Updata Partners

Provider of an online news site covering digital culture, social media and

technology.$59

Playbuzz

New York , NY

www.playbuzz .com

31-Mar-2016 Series C $15 Saban Capital Group83North, Carmel Ventures, FirstTime Venture Capital, Saban

Capital Group, Walt DisneyDeveloper of a free content platform. $35

blispay.

Forest Hill , MD

www.blispay.com

31-Mar-2016 Seed $13 FirstMark CapitalAccomplice VC, AngelList, FirstMark Capital, Founder Collective,

New Enterprise Associates, TriplePoint CapitalProvider of mobile credit for businesses and consumers. $14

Garena

Singapore, Singapore

www.garena.sg

31-Mar-2016 Series D $170 Khazanah NasionalGeneral Atlantic, Keytone Ventures, Khazanah Nasional, Ontario

Teachers' Pension PlanProvider of an online mobile platform for entertainment and communication. $172

Invoca

Santa Barbara, CA

www.invoca.com

30-Mar-2016 Series D $30 Morgan Stanley Alternative Investment

Partners

Accel Partners, Morgan Stanley Alternative Investment Partners,

Rincon Venture Partners, Salesforce Ventures, StepStone, Upfront

Ventures

Provider of a pay-per-call platform for the performance marketing industry. $62

Asana

San Francisco, CA

www.asana.com

30-Mar-2016 Series C $50 Sam Altman 8 | partners, Founders Fund, Mark Zuckerberg, VegasTechFund Developer of task management software for enterprises. $89


21


Notes:

Source: PitchBook.


($MM)

Name

Announced


Total

Raised

Cockroach Labs

New York , NY

www.cockroachlabs.com

30-Mar-2016 Series A1 $20 Index Ventures Benchmark Capital, FirstMark Capital, GV, Index Ventures Provider of a data-storage framework. $27

Cyara

Hawthorn, Australia

www.cyara.com

30-Mar-2016 Series A $25 PeakSpan Capital Greenspring Associates, PeakSpan Capital Provider of an online platform for customer experience testing. $25

Gauss Surgical

Los Altos, CA

www.gausssurgical.com

30-Mar-2016 Series B $13 Providence VenturesJump Capital, Lifeforce Ventures, Promus Ventures, Providence

Ventures, StartX, Summation Health Ventures

Developer of a mobile computer vision platform to monitor surgical blood loss in

real time.$24

LoanLogics

Trevose, PA

www.loanlogics.com

30-Mar-2016 Series B $10 Blue Cloud Ventures Blue Cloud Ventures, Volition CapitalProvider of a technology platform to improve the transparency, accuracy and

quality of consumer loan commerce.$22

MapD

San Francisco, CA

www.mapd.com

30-Mar-2016 Series A $10 Vanedge Capital GV, Nvidia, Vanedge Capital, Verizon Ventures Provider of big data analytics and visualization platform. $24

Planday

Brook lyn, NY

www.planday.com

30-Mar-2016 Series B $14 Creandum, IDInvest Partners Creandum, IDInvest Partners, SEB Asset Management Provider of workforce scheduling SaaS platform. $18

Urfresh

China

www.urfresh.cn

29-Mar-2016 Series B $30 Capital Today, Fengshang Capital Capital Today, Fengshang Capital Operator of a fresh produce e-commerce platform. $30

Beamr

Tel Aviv, Israel

www.beamr.com

29-Mar-2016 Acquisition Financing $15 Disruptive Ventures Disruptive Ventures, Innovation Endeavors, Marker Provider of image and video optimization products. $25

Betterment

New York , NY

www.betterment.com

29-Mar-2016 Series E $100 Investment AB Kinnevik

Anthemis Group, Bessemer Venture Partners, Francisco Partners,

Globespan Capital Partners, Investment AB Kinnevik, Menlo

Ventures

Provider of an online investment platform. $205

Icebrg

Bellevue, WA

www.icebrg.io

29-Mar-2016 Series A $10 Pelion Venture Partners Madrona Venture Group, Pelion Venture Partners Provider of network security services. $13

LeTV Sports

Beijing, China

www.lesports.com

29-Mar-2016 Series B $1,200 HNA Group HNA Group Provider of platform for streaming live sporting events. $1,331

Load DynamiX

San Jose, CA

www.loaddynamix .com

29-Mar-2016 Venture Round $20 HighBAR PartnersAzure Capital Partners, Benhamou Global Ventures, HighBAR

Partners, Kinetic VenturesProvider of workload analysis and modeling software. $39

Wave Accounting

Toronto, Canada

www.waveapps.com

29-Mar-2016 Series C $23 Not disclosedBusiness Development Bank of Canada, Charles River Ventures,

OMERS Ventures, The Social+Capital PartnershipDeveloper of financial software for small businesses. $48

F igtree F inancing

San Diego, CA

www.figtreefinancing.com

28-Mar-2016 Series A $30 LL Funds LL Funds Provider of financial services for property owners. $30


22


Notes:

Source: PitchBook.


($MM)

Name

Announced


Total

Raised

Hopper

Cambridge, MA

www.hopper.com

28-Mar-2016 Series C $16 Business Development Bank of CanadaAtlas Venture, Brightspark Ventures, Business Development Bank

of Canada, OMERS VenturesDeveloper of a mobile trip-planning application. $38

Zeel

New York , NY

www.zeel.com

24-Mar-2016 Series A $10 Emil Capital PartnersEmil Capital Partners, Lightbank, NAV.VC, Partech Ventures, Slow

VenturesProvider of an online directory and appointment-booking service for people. $12

Bromium

Cupertino, CA

www.bromium.com

24-Mar-2016 Series D $40 Not disclosed

Andreessen Horowitz, Highland Capital Partners, Ignition Venture

Partners, Intel Capital, Lightspeed Venture Partners, Meritech

Capital Partners, Silver Lake

Developer of endpoint security system. $116

HG Data

Santa Barbara, CA

www.hgdata.com

24-Mar-2016 Series B $12 Updata Partners EPIC Ventures, Rincon Venture Partners, Updata Partners Developer of a competitive intelligence database for the technology industry. $23

Kreditech

Hamburg, Germany

www.kreditech.com

24-Mar-2016 Series C $103 J.C. Flowers & Company

Amadeus Capital Partners, Blumberg Capital, HPE Growth Capital,

International Finance Corporation, J.C. Flowers & Company, Point

Nine Capital, Valar Ventures, Värde Partners

Provider of a big data credit-scoring platform. $374

Mesosphere

San Francisco, CA

www.mesosphere.com

24-Mar-2016 Series C $74 Hewlett-Packard EnterpriseA Capital, Andreessen Horowitz, FUEL Capital, Hewlett-Packard

Enterprise, Khosla Ventures, Microsoft, Triangle Peak PartnersProvider of an application programming interface for building distributed systems. $124

Checkr

San Francisco, CA

www.checkr.com

23-Mar-2016 Series B $40 Y Combinator Accel Partners, GV, IVP, Y Combinator Provider of background check application. $49

Science Exchange

Palo Alto, CA

www.scienceexchange.com

23-Mar-2016 Series B $25 Maverick Capital

Collaborative Fund, Fenwick & West, Index Ventures, Maverick

Capital, O'Reilly AlphaTech Ventures, Silicon Valley Bank, Union

Square Ventures, Windham Venture Partners, Y Combinator

Provider of an online marketplace for science experiments. $30

BetterWorks

Redwood C ity, CA

www.betterworks.com

23-Mar-2016 Series B $20 Emergence Capital Partners

8 | partners, AME Cloud Ventures, Dipchand Nishar, Emergence

Capital Partners, Formation 8, Kleiner Perkins Caufield & Byers,

Pejman Mar Ventures

Developer of an enterprise goal-setting software. $35

GoCardless


www.gocardless.com

23-Mar-2016 Series C $13 Notion Capital Accel Partners, Balderton Capital, Notion Capital, Passion Capital Provider of online-payment services. $33

Stratoscale

Herz liya Pituach, Israel

www.stratoscale.com

23-Mar-2016 Series C $27 Qualcomm VenturesBattery Ventures, Bessemer Venture Partners, Cisco Investments,

Intel Capital, Qualcomm Ventures, SanDisk VenturesDeveloper of virtulization technology for large data centers. $69

Convoy (Logisitics Application)

Seattle, WA

www.convoy.com

22-Mar-2016 Series A $16 Greylock PartnersAllen & Company, Bezos Expeditions, FUEL Capital, Greylock

Partners, Omidyar NetworkDeveloper of technology for on-demand shipment services. $19

Domo

American Fork , UT

www.domo.com

22-Mar-2016 Series E $131 BlackRock BlackRock, Canyon Capital Realty Advisors, Credit Suisse Provider of a cloud-based business management platform. $615

Byju's

Bangalore, India

www.byjus.com

22-Mar-2016 Venture Round $80 Not disclosed Sequoia Capital, Sofina Provider of online education services. $120


23


Notes:

Source: PitchBook.


GCA Savvian Advisors Overview

24

Selected Recent Digital Media and Software Transactions

Preferred Stock Equity Investment Acquisition of Acquired by Acquired by Acquired by Acquired by Preferred Stock Preferred Stock

Undisclosed

Financial Advisor Financial Advisor We Advised the Buyer We Advised the Seller We Advised the Seller We Advised the Seller We Advised the Seller Financial Advisor Financial Advisor

February 2016 February 2016 December 2015 August 2015 July 2015 July 2015 June 2015 June 2015 May 2015

Acquired by Acquired by Acquired by Acquired by Acquired by Acquired by Acquired by Acquired by Acquired by

Consortium Led by A subsidiary of

We Advised the Buyer We Advised the Seller We Advised the Seller We Advised the Seller We Advised the Seller We Advised the Seller We Advised the Seller We Advised the Seller We Advised the Seller

April 2015 April 2015 March 2015 February 2015 December 2014 October 2014 October 2014 September 2014 September 2014

Sale of

Acquired by Acquired by Preferred Stock Acquisition of Acquisition of Acquisition of Acquisition of Acquisition of

to

We Advised the Seller We Advised the Seller We Advised the Seller Financial Advisor We Advised the Seller We Advised the Buyer We Advised the Seller We Advised the Seller We Advised the Seller

August 2014 August 2014 August 2014 May 2014 April 2014 April 2014 March 2014 March 2014 November 2013

Sale of Entertainment Acquired by Acquired by Preferred Stock Acquired by Acquired by Acquired by Preferred Stock Acquired by

Store Assets to

Fairness Opinion for

We Advised the Seller We Advised the Seller We Advised the Seller Financial Advisor We Advised the Seller We Advised the Seller We Advised the Seller Financial Advisor Buddy Media

September 2013 August 2013 August 2013 July 2013 July 2013 January 2013 September 2012 August 2012 August 2012

Sale of

Acquired by Acquired by Preferred Stock Acquired by Acquired by Acquired by Acquired by Acquired by

to

We Advised the Seller We Advised the Seller Financial Advisor We Advised the Seller We Advised the Seller We Advised the Seller We Advised the Seller We Advised the Seller We Advised the Seller

August 2012 June 2012 June 2012 May 2012 May 2012 April 2012 March 2012 February 2012 January 2012

Reality Media Holdings

Japan

Paul DiNardo Steve Fletcher Rich Jasen Seihun Kong John Lambros Joshua Wepman

Advisory Director Managing Director Managing Director Managing Director Managing Director Managing Director

Phone: (212) 999-7097 Phone: (415) 318-3661 Phone: (415) 318-3653 Phone: (415) 318-3682 Phone: (212) 999-7083 Phone: (212) 999-7092

Mobile: (415) 509-4501 Mobile: (415) 518-6725 Mobile: (415) 308-4760 Mobile: (415) 823-7300 Mobile: (917) 744-9011 Mobile: (917) 306-4168

[email protected] [email protected] [email protected] [email protected] [email protected] [email protected]

Ashley Ma Giuseppe Diprima Tomohiko Kubota Saif Malik

Director Vice President Vice President Vice President

Phone: (212) 999-7076 Phone: (212) 999-7088 Phone: +81 (3) 6212-7129 Phone: +44 (0) 207 038-3216

Mobile: (917) 575-0103 Mobile: (347) 622-1887 [email protected] Mobile: +44 (0) 778 606-8553

[email protected] [email protected] [email protected]

GCA Savvian

25

Digital Media / Software Team

San Francisco

150 California St., Ste. 2300

San Francisco, CA 94111

United States

Phone: (415) 318-3600

New York

640 Fifth Avenue, 10th

Fl.

New York, NY 10019

United States

Phone: (212) 999-7090

Tokyo

11-1 Marunouchi 1-chome

Chiyoda-ku, Tokyo 100-6230

Japan

Phone: +81 (3) 6212-7100

London

48 Dover Street

London W1S 4FF

United Kingdom

Phone: +44 (0) 207 038-3200

Documents

Weekly Internet / Digital Media / SaaS Sector Summary · 2016. 5. 4. · 2/1/2016 2/14/2016 2/27/2016 3/11/2016 3/24/2016 4/6/2016 4/19/2016 5/2/2016 65% 75% 85% 95% 105% 115% 125%