LOS ANGELES | SAN FRANCISCO | NEW YORK | BOSTON | SEATTLE | MINNEAPOLIS | MILWAUKEE July 15, 2013 Michael Pachter Steve Koenig (213) 688-4474 (415) 274-6801
[email protected] [email protected] PRISM … Progress Report for Internet and Social Media In This Issue: Snapchat, Dropbox Snapchat Developer of the popular photo-messaging app, founded in 2011. Application allows photos to be sent between users. Photos can only be viewed for a few seconds, then self-delete. App has experienced rapid adoption, with 200 million pictures sent per day, up from 150 million in April of this year. Valuation has risen significantly, from approximately $70 million in February 2013 to $800 million today. Founders now in legal battle with a schoolmate claiming to be a third founder. Popularity may represent a cultural shift to less-permanent, more anonymous web services. Dropbox Announced at developer conference its intention to create a data platform for developers. Introduced new tools for deeper application integration. User count rises to 175 million from 100 million in November of last year. About Wedbush Securities Private Shares Group The Private Shares Group of Wedbush Securities is a leader in providing research and trading to the rapidly growing industry of privately traded securities, with an emphasis on companies in the social media space. We assist companies in raising growth capital through traditional private placements and provide liquidity options for existing and former employees through tailored selling programs. We also work with venture capital, private equity and hedge fund investors to help them adjust their holdings in some of the most dynamic companies.