DM Sector Summary Report 5-13-09

Weekly Internet/Digital Media Sector Summary

Week of May 18th, 2009 Industry Stock Market Valuation Internet / Digital Media

Last 12 Months Last 3 Months

110 180

100 170 69%

160 90 150 80 -23% 140 40% -31% 33% 70 -33% 130 32% -36% -38% 120 18% 60 -39% 15% 13% 110 -48% 50 100 40 90

30 80 05/16/08 07/07/08 08/29/08 10/20/08 12/12/08 02/02/09 03/27/09 05/19/09 02/18/0903/02/09 03/13/09 03/27/09 04/10/09 04/23/09 05/06/09 05/19/09

(1) (2) (3) NASDAQ Search / Online Advertising eCommerce Internet Content

(4) (5) (6) Publishers Diversified Marketing Media Conglomerates

Notes: 1) Search/Online Advertising Composite includes: MSFT, GOOG, YHOO, IACI, VCLK, MCHX, INSP, LOOK, MIVA, BLNX. 2) eCommerce Composite includes: AMZN, EBAY, CPRT, EXPE, PCLN, SHOU, NFLX, GSIC, FLWS, OSTK, STMP, DSCM, ALOY, TZOO, ABTL, VPRT, NILE, LINTA. 3) Internet Content Composite includes: BIDU, WBMD, RNWK, KNOT, NAPS, TSCM, DIET, SCOR, WWWW, UNTD, MOVE, DHX, MWW, EHTH, SFLY, RATE, TTGT, INET. 4) Publishers Composite includes: PSO, MMB-FR, WPO, GCI, UBM-GB, NYT, SSP, TRI, NWS.A, RHD. 5) Diversified Marketing Composite includes: EFX, ACXM, HHS, IUSA, VCI, WPP, OMC, PIG, PUB, AGS, HAV, MDCA. 6) Media Conglomerates Composite includes: DIS, TWX, SNE, VIA.B, CBS, MVL, LGF, PLA, EXPN, CMCSA, DISCA. Public Company Valuations - Media & Internet Financial Metrics

$MM, Except Per Share Data

Stock LTM EPS Price Price Range Equity Net Aggregate AV / Revenue AV / EBITDA Price / EPS Long Term Revenue Growth 5/19/09 Low High Value Debt Value CY 09E CY 010E CY 09E CY 010E CY 09E CY 010E Growth PEG 010E/09E Y/Y MRQ Search / Online Advertising

Microsoft Corp. $20.31 $14.87 $29.89 $180,753 ($23,341) $157,412 2.6 x 2.5 x 6.5 x 6.2 x 11.5 x 10.6 x 10.6% 1.0 3.8% (5.6%) Google Inc. (Cl A) 398.88 247.30 589.92 126,022 (17,785) 108,237 4.8 4.2 10.4 9.2 18.9 16.7 22.9% 0.7 12.8% 6.2% Yahoo! Inc. 15.18 8.94 28.33 21,186 (3,446) 17,740 3.7 3.5 10.3 9.5 43.0 36.2 16.9% 2.1 4.9% (13.1%) IAC/InterActiveCorp. 15.31 13.23 21.08 2,291 (1,913) 377 0.3 0.3 2.6 2.0 38.7 23.9 11.7% 2.1 4.9% (10.4%) ValueClick Inc. 10.69 4.66 20.45 930 (104) 825 1.5 1.5 6.0 5.7 17.3 15.6 16.1% 1.0 4.3% (20.2%) InfoSpace Inc. 7.27 5.07 11.94 254 (196) 58 0.4 0.4 3.4 2.7 NM 38.3 42.5% 0.9 5.4% (7.4%) Marchex Inc. (Cl B) 3.18 2.98 14.15 114 (26) 88 0.9 0.8 6.7 5.4 NM NM 25.0% NM 10.7% (28.3%) Blinkx PLC 0.26 0.14 0.69 71 (32) 39 2.8 2.0 NA NA NM 27.6 NA NA 44.0% NA

Mean 2.1 x 1.9 x 6.6 x 5.8 x 25.9 x 24.1 x 20.8% 1.3 11.4% (11.2%) Median 2.1 1.7 6.5 5.7 18.9 23.9 16.9% 1.0 5.2% (10.4%)

Internet Content

Monster Worldwide Inc. $13.59 $5.95 $27.94 $1,713 ($158) $1,555 1.7 x 1.7 x 16.1 x 13.4 x NM 90.8 x 17.6% 5.2 1.0% (30.6%) WebMD Health Corp. (Cl A) 27.52 13.63 35.40 1,605 (205) 1,400 3.3 2.9 13.0 11.3 45.2 38.7 22.0% 1.8 12.3% 11.9% United Online Inc. 6.86 3.76 12.50 573 284 858 0.8 0.8 3.5 3.5 9.3 9.3 11.0% 0.8 2.0% 116.4% Bankrate Inc. 29.94 15.77 52.43 562 (47) 515 3.3 3.0 9.2 7.9 22.0 18.5 19.6% 0.9 9.9% (9.7%) eHealth Inc. 16.55 8.38 25.58 412 (151) 262 1.9 1.7 8.4 7.1 28.8 24.3 22.9% 1.1 15.2% 21.5% Shutterfly Inc. 14.67 5.62 15.08 369 (66) 303 1.4 1.3 8.7 7.0 NM NM 16.0% NM 11.0% 4.9% RealNetworks Inc. 2.65 1.97 7.61 356 (365) (9) NM NM NM NM NM NM 18.7% NM 3.5% (4.6%) Move Inc. 2.11 0.64 3.21 325 (46) 279 1.3 1.2 10.0 8.1 NM 52.8 21.3% 2.5 5.7% (11.4%) ComScore Inc. 10.84 6.63 29.10 325 (69) 256 2.0 1.7 9.7 7.7 21.6 15.2 28.1% 0.5 16.5% 16.1% Knot Inc. 8.55 5.35 12.09 288 (75) 214 2.1 2.0 15.5 11.3 NM 54.1 21.5% 2.5 6.9% (0.4%) Internet Brands Inc. (Cl A) 6.34 4.43 7.32 283 (60) 224 2.1 1.7 5.8 4.5 22.2 15.9 20.2% 0.8 22.2% (5.7%) Dice Holdings Inc. 4.29 2.10 9.50 267 15 282 2.7 2.7 6.6 6.9 27.5 21.8 18.3% 1.2 (1.1%) (25.3%) TechTarget Inc. 4.22 2.13 13.57 175 (56) 120 1.3 1.2 6.9 6.6 19.7 20.1 21.0% 1.0 1.4% 8.2% Web.com Group Inc. 4.91 2.05 9.20 130 (37) 93 0.9 0.9 4.6 4.3 71.6 35.9 26.6% 1.4 4.1% (9.8%) TheStreet.com 1.90 1.69 7.86 58 (65) (6) NM NM NM NM NM NM 18.0% NM 2.3% (26.0%) eDiets.com Inc. 1.15 0.98 4.75 29 13 42 2.0 NA NM NA NM NA NA NA NA (39.1%)

Mean 1.9 x 1.7 x 9.1 x 7.7 x 29.8 x 33.1 x 20.2% 1.6 7.5% 1.0% Median 2.0 1.7 8.7 7.1 22.2 23.0 20.2% 1.1 5.7% (5.1%)

Internet Commerce

Amazon.com Inc. $77.87 $34.68 $91.75 $33,457 ($2,656) $30,801 1.4 x 1.2 x 19.5 x 16.2 x 48.5 x 38.2 x 22.9% 1.7 18.1% 18.2% eBay Inc. 17.87 9.91 31.37 22,991 (2,837) 20,154 2.5 2.4 7.0 6.8 12.5 11.9 18.9% 0.6 5.8% (7.8%) Expedia Inc. 15.05 6.00 24.47 4,338 329 4,667 1.7 1.5 6.6 6.1 13.7 12.3 15.0% 0.8 8.8% (7.6%) priceline.com Inc. 103.99 45.15 139.16 4,332 (125) 4,207 2.0 1.8 10.5 9.1 15.6 13.8 16.8% 0.8 12.0% 14.6% Liberty Media Holding Corp. Interactive Series A 6.10 1.97 17.58 3,622 6,299 9,921 1.3 1.3 7.0 6.6 14.6 14.1 9.5% 1.5 3.5% (4.2%) Copart Inc. 30.10 22.54 49.34 2,518 (13) 2,506 3.2 NA 8.7 NA 16.3 NA 15.3% NA NA (2.1%) Netflix Inc. 39.63 17.90 50.24 2,287 (248) 2,039 1.2 1.1 7.6 6.4 23.2 19.1 16.8% 1.1 15.8% 20.8% VistaPrint Ltd. 39.20 11.75 40.00 1,657 (95) 1,562 2.8 2.5 12.2 9.8 22.5 19.1 22.8% 0.8 14.9% 20.6% Digital River Inc. 37.10 16.88 45.45 1,416 (346) 1,070 2.7 2.5 9.3 8.6 19.1 17.6 12.0% 1.5 5.9% (0.7%) GSI Commerce Inc. 13.07 5.69 18.24 639 153 792 0.8 0.8 8.6 7.6 NM 33.7 19.9% 1.7 7.9% 0.5% Blue Nile Inc. 43.98 18.34 55.48 638 (31) 606 2.1 1.9 24.6 22.3 58.6 46.8 21.0% 2.2 10.1% (11.4%) Travelzoo Inc. 10.65 3.72 11.74 175 (16) 159 1.8 1.7 14.3 14.6 NM 62.6 NA NA 4.5% 11.5% drugstore.com inc. 1.45 0.65 2.89 145 (32) 113 0.3 0.3 7.4 10.4 NM NM 25.0% NM 4.9% 6.2% 1-800-Flowers.com Inc. Cl A 2.27 0.85 8.67 145 87 231 0.3 0.3 5.3 4.6 14.0 NA 15.5% NA 1.9% (21.2%) Stamps.com Inc. 8.59 7.14 15.82 143 (70) 73 0.9 0.9 9.9 7.4 30.7 23.2 18.0% 1.3 1.7% (5.0%)

Mean 1.7 x 1.4 x 10.6 x 9.8 x 24.1 x 26.0 x 17.8% 1.3 8.3% 2.2% Median 1.7 1.4 8.7 8.1 17.7 19.1 17.4% 1.3 6.9% (0.7%)

Notes: Source: Reuters, FactSet and Street Estimates Multiples <0 or >100 considered NM. Public Company Valuations - Media & Internet Financial Metrics

$MM, Except Per Share Data

Walt Disney Co. $23.82 $15.14 $34.94 $44,228 $11,359 $55,587 1.6 x 1.5 x 7.4 x 7.0 x 13.6 x 12.4 x 10.5% 1.2 3.3% (7.2%) Comcast Corp. (Cl A) 15.00 11.10 22.86 43,251 30,124 73,375 2.1 2.0 5.4 5.2 13.8 12.4 11.6% 1.1 3.6% 5.3% Time Warner Inc. 24.06 15.40 37.46 28,787 10,367 39,154 1.3 1.3 6.0 5.9 12.2 10.7 11.2% 1.0 1.3% (7.0%) Sony Corp. (ADS) 26.05 15.64 52.36 26,168 (171) 25,997 0.3 0.3 NA 6.6 NM 22.1 6.5% 3.4 (0.5%) (22.0%) Viacom Inc. (Cl B) 21.19 11.60 39.61 12,850 7,111 19,961 1.4 1.4 6.7 6.4 10.3 9.3 10.3% 0.9 3.2% (6.8%) Discovery Communications Inc. Series A 20.58 10.02 29.92 5,788 3,581 9,369 2.7 2.5 7.2 6.5 15.9 13.7 17.2% 0.8 6.6% 2.8% CBS Corp (Cl B) 7.22 3.06 23.59 4,906 6,892 11,797 0.9 0.9 6.6 6.1 12.8 9.4 4.8% 2.0 2.2% (13.5%) Marvel Entertainment Inc. 32.12 22.82 38.50 2,520 (21) 2,499 5.2 4.1 13.3 8.7 24.5 15.9 13.6% 1.2 27.0% 75.0% Lions Gate Entertainment Corp. 5.33 3.65 10.97 617 486 1,104 0.7 0.7 68.0 15.2 NM 15.7 27.1% 0.6 2.0% 8.4% Playboy Enterprises Inc. (Cl B) 2.78 1.03 6.20 93 84 177 0.7 0.6 3.9 2.9 NM 15.4 NA NA 21.8% (18.7%)

Mean 1.7 x 1.5 x 13.8 x 7.0 x 14.7 x 13.7 x 12.5% 1.3 7.1% 1.6% Median 1.4 1.4 6.7 6.4 13.6 13.1 11.2% 1.1 3.3% (6.9%)

Publishers

Thomson Reuters Corporation $30.20 $19.30 $38.10 $25,024 $6,788 $31,812 2.5 x 2.5 x 9.8 x 8.7 x 17.6 x 14.8 x 11.5% 1.3 (0.1%) 87.2% News Corp. (Cl A) 9.20 4.95 19.44 24,048 8,208 32,256 1.1 1.0 6.6 6.0 12.1 10.2 10.4% 1.0 3.2% (15.7%) Pearson PLC (ADS) 11.05 8.17 13.70 8,949 2,456 11,405 1.4 1.4 8.3 8.0 12.8 12.2 8.4% 1.4 2.7% 22.9% Lagardere S.C.A. 32.80 24.63 75.42 4,165 (952) 3,213 0.4 0.4 4.0 4.0 10.4 9.7 13.9% 0.7 0.3% 77.5% Washington Post Co. (Cl B) 366.2 300.2 678.7 3,442 (259.4) 3,183.0 0.7 0.7 5.7 4.5 22.2 13.8 NA NA 6.4% (0.7%) United Business Media Ltd. 6.72 5.43 12.73 1,639 (172) 1,467 1.5 1.5 7.6 7.8 12.2 12.3 7.0% 1.8 (1.5%) 10.9% Gannett Co. Inc. 4.56 1.85 30.31 1,060 3,646 4,706 0.8 0.8 5.1 4.9 3.4 3.5 3.5% 1.0 (3.4%) (17.7%) New York Times Co. (Cl A) 6.55 3.44 18.97 943 1,247 2,190 0.9 0.9 10.3 9.9 NM 52.4 0.0% NA (4.0%) (17.7%) E.W. Scripps Co. (Cl A) 1.88 0.67 11.35 101 28 130 0.2 0.2 28.8 16.8 NM NM NA NA (5.0%) (21.1%)

Mean 1.0 x 1.0 x 9.6 x 7.8 x 12.9 x 16.1 x 7.8% 1.2 (0.2%) 13.9% Median 0.9 0.9 7.6 7.8 12.2 12.3 8.4% 1.1 (0.1%) (0.7%)

Diversified Marketing

Omnicom Group Inc. $31.68 $20.09 $50.06 $9,848 $2,337 $12,185 1.0 x 1.0 x 7.5 x 7.3 x 12.2 x 11.7 x 9.3% 1.3 1.4% (14.0%) WPP PLC 7.48 4.57 12.73 9,377 (2,573) 6,804 0.8 0.8 5.1 5.2 14.7 14.6 6.4% 2.3 (0.6%) 26.7% Experian PLC 7.53 4.27 8.39 7,726 (184) 7,542 2.0 1.9 6.2 5.9 12.8 12.0 9.0% 1.3 2.6% 12.7% Publicis Groupe S.A. 31.50 18.80 41.36 5,635 (867) 4,768 1.0 1.0 5.8 5.8 15.6 15.4 5.4% 2.9 (0.7%) 2.3% Equifax Inc. 28.74 19.38 39.06 3,628 1,170 4,798 2.7 2.5 8.0 7.5 14.2 12.8 9.8% 1.3 4.2% (10.0%) Interpublic Group Of Cos. 5.33 2.57 10.34 2,550 451 3,000 0.5 0.5 4.4 4.2 14.6 12.0 9.5% 1.3 1.3% (10.8%) Aegis Group PLC 1.33 0.66 2.61 1,536 (422) 1,114 0.8 0.8 5.6 5.6 15.1 15.0 7.8% 1.9 (0.1%) 20.9% Havas S.A. 2.62 1.58 4.60 1,128 (948) 180 0.1 0.1 0.9 0.9 13.1 13.0 8.9% 1.4 (0.6%) 1.2% Acxiom Corp. 10.34 6.35 15.11 809 442 1,251 1.1 1.1 3.7 3.6 11.6 10.2 12.5% 0.8 (0.7%) (8.5%) Harte-Hanks Inc. 8.71 4.43 14.33 555 240 795 0.9 0.9 7.1 6.9 13.0 12.3 4.0% 3.1 0.1% (11.0%) infoGROUP Inc. 5.42 2.24 7.70 311 153 463 0.9 0.9 5.5 4.8 24.6 9.0 NA NA 3.4% (16.8%) Valassis Communications Inc. 5.79 1.05 16.80 278 1,031 1,310 0.6 0.6 6.4 6.3 8.6 7.6 10.0% 0.8 (0.4%) (7.7%) MDC Partners Inc. (Cl A) 5.00 2.19 8.79 140 143 284 0.5 0.5 4.4 3.9 38.5 25.9 11.5% 2.2 6.2% (10.1%)

Mean 1.0 x 1.0 x 5.4 x 5.2 x 16.0 x 13.2 x 8.7% 1.7 1.2% (1.9%) Median 0.9 0.9 5.6 5.6 14.2 12.3 9.1% 1.4 0.1% (8.5%)

Notes: Source: Reuters, FactSet and Street Estimates Multiples <0 or >100 considered NM. Digital Media Precedent Acquisitions 1/1/2007 to Present ($MM)

Announced AV / LTM AV / NTM Acquirer Target Aggregate Value AV / LTM Sales AV / NTM Sales Date EBITDA EBITDA

4/15/2009 $1,208 5.8x 27.2x 5.4x 23.1x

1/30/2009 $138 0.3x 21.3x NA NA

1/27/2009 $50 NA NA NA NA

1/6/2009 NA NA NA NA NA

12/22/2008 $1,370 NA 6.9x NA NA Ad Assets

12/8/2008 $600 1.5x NA NA NA

10/23/2008 $96 NA NA 0.9x 3.0x

10/21/2008 $95 NA NA NA NA

10/6/2008 $945 NA NA NA NA

10/6/2008 $380 NA NA NA NA

9/15/2008 $121 1.0x NM 0.9x NA

8/29/2008 $422 3.1x 14.3x 2.7x 10.2x

8/3/2008 $125 5.0x 12.5x NA NA

6/26/2008 $100 NA NA NA NA

6/23/2008 ~$250 NA NA NA NA

5/15/2008 $1,800 4.2x 31.3x 3.7x 17.8x

5/14/2008 $160 NA NA NA NA

5/14/2008 $100 NA NA NA NA

4/28/2008 $300 NM NA 10.0x NA

4/17/2008 $75 NA NA NA NA Digital Media Precedent Acquisitions 1/1/2007 to Present ($MM)

Announced AV / LTM AV / NTM Acquirer Target Aggregate Value AV / LTM Sales AV / NTM Sales Date EBITDA EBITDA

4/7/2008 $225 NA NA NA NA

3/12/2008 $850 NA NA 7.0x 15.0x

3/5/2008 $150 10.0x NA NA NA

3/3/2008 $67 NA NA NA NA

2/29/2008 NA NA NA NA NA

2/24/2008 $2,008 2.3x 6.5x 2.2x 6.5x

2/12/2008 $160 NM NA NA NA

2/4/2008 $125 NA NA NA NA

1/31/2008 $300 2.8x 37.5x 2.3x 21.4x

1/14/2008 $265 NA NA NA NA

1/6/2008 $100 NA NA NA NA

1/4/2008 $61 NA NA NA NA

1/3/2008 $65 NA NA NA NA

12/20/2007 $200 NA NA NA NA

12/7/2007 $275 1.9x 10.2x NA NA

12/5/2007 NA NA NA NA NA

12/4/2007 NA NA NA NA NA

12/4/2007 $55 NA NA NA NA

12/4/2007 NA NA NA NA NA

11/26/2007 $170 NA NA NA NA Digital Media Precedent Acquisitions 1/1/2007 to Present ($MM)

Announced AV / LTM AV / NTM Acquirer Target Aggregate Value AV / LTM Sales AV / NTM Sales Date EBITDA EBITDA

11/7/2007 $340 5.0x NA NA NA

10/18/2007 $250 NA NA NA NA (Mobile Business)

10/15/2007 $135 2.9x NA 2.2x NA Mobile Services

10/11/2007 VG Holdings $860 NA NA NA NA

10/11/2007 NA NA NA NA NA

10/4/2007 $185 NA NA NA NA

9/17/2007 $350 14.0x NA 10.0x NA

9/17/2007 $225 6.5x NA NA NA Online Directory Business

9/17/2007 $100 NA NA NA NA

9/4/2007 $300 3.0x 15.0x 2.3x 12.0x

8/29/2007 $68 NA NA NA NA

8/27/2007 $90 NA NA NA NA

8/1/2007 $350 7.0x NA NA 35.0x

8/8/2007 $47 2.8x NM 1.5x NA

7/26/2007 $345 6.9x 23.0x NA NA

7/24/2007 $275 9.2x NA 3.1x NA

7/24/2007 $100 3.3x 16.7x NA NA

7/23/2007 $97 NA NA NA NA

7/17/2007 $60 NA NA NA NA

7/16/2007 $352 NA NA NA NA Digital Media Precedent Acquisitions 1/1/2007 to Present ($MM)

Announced AV / LTM AV / NTM Acquirer Target Aggregate Value AV / LTM Sales AV / NTM Sales Date EBITDA EBITDA

6/20/2007 $100 NA NA NA NA

5/30/2007 $280 NA NA NA NA

5/30/2007 $75 NA NA NA NA

5/23/2007 $100 NM NM NA NA

5/18/2007 $5,768 11.7x 44.1x 8.8x 35.0x

5/17/2007 $654 3.0x 31.3x 2.3x 20.5x

5/7/2007 $300 NA NA NA NA

4/30/2007 $850 19.3x NA 11.0x NA

4/19/2007 NA NA NA NA NA

4/19/2007 $240 6.0x NM 4.4x 20.0x

4/19/2007 $110 6.4x NA NA NA

4/16/2007 $3,110 10.4x 30.1x 8.3x 24.1x

2/28/2007 $28 NA NA NA NA

2/2/2007 $250 3.6x NA 2.5x NA

1/3/2007 $113 NA NA NA NA

Notes: Median 4.6x 20.6x 2.9x 18.9x Sales multiples <0x or >20x, and EBITDA multiples <0x or >50x considered NM. Mean 5.6x 21.1x 4.5x 18.7x TMT Venture Capital Activity Quarterly Since 2001

9.0 1600

8.0 1400

7.0 1200 6.0

5.0 1000 $Bn 4.0 800

3.0 Number Investments of 600 2.0

400 1.0

- 200

Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 ' ' ' ' ' ' ' ' ' ' ' '0 '0 '0 '0 '0 '0 0 0 0 0 0 0 0 0 0 0 0 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 Year - Quarter

(1) (2) (3) TMT IPO Offer Value TMT M&A Deal Value Number of TMT VC Investments

Notes: 1) TMT IPO Exits source: VentureXpert Analytics. 2) TMT M&A Exits source: VentureSource Analytics. 3) Number of TMT VC Investments source: Thomson MoneyTree Report. Digital Media Private Financings 1/1/2008 to Present ($MM) (1)

Announced Total Name Date Round Amount Lead Investor Other Investors Brief Business Description Raised Onestop Internet 5-May-09 Series A $13 Bessemer Venture Provides end-to-end e-commerce technology and fulfillment for retailers $13 Los Angeles, CA Partners seeking to sell products online www.onestop.com Goom Radio 15-Apr-09 NA $16 Wellington Partners, Elaia Partners, An online radio station offering proprietary "HD Sound" technology and NA Jersey City, NJ Partech International custom station options www.goomradio.com Collective Media 14-Apr-09 Series B $20 Accel Partners Greycroft Partners, iNova Capital Online ad network that specializes in audience targeting and NA New York, NY optimization solutions for publishers and advertisers www.collective.com Cooliris 13-Apr-09 Series B $15 Kleiner Perkins Caulfield & Byers, Places video ads on web pages and builds products that facilitate user $16 Palo Alto, CA DAG Ventures, T-Mobile Venture navigation and exploration of the Web www.cooliris.com Fund, Westly Group Rubicon Project 13-Apr-09 Series B $13 Clearstone Venture Partners, IDG Helps web companies monetize ad space and provides an ad quality $33 Los Angeles, CA Ventures Asia, Mayfield protection program www.runiconproject.com TouchCommerce 9-Apr-09 Series E $10 Sierra Ventures Dolphin Equity Partners, Emergence Helps Web sites increase the conversion of web traffic into sales $38 Agoura Hills, CA Capital, Hudson Ventures, Partech www.touchcommerce.com International JiWire 8-Apr-09 Series B $11 Panorama Capital Comcast Interactive Capital, DFJ Creator of a Wi-Fi advertising platform $18 San Francisco, CA Frontier www.jiwire.com Glam Media 7-Apr-09 Series E-2 $10 Mizuho Venture Capital A stable of internet sites geared towards women and designed to attract $105 San Francisco, CA premium-brand advertisers www.glam.com BuyVIP 6-Apr-09 NA $15 Kennet Partners Bertelsmann Digital Media An online shopping network NA Madrid, Spain Investments, 3i Group, Molins Capital www.buyvip.com Inversion Revolution Money 6-Apr-09 Series C $42 Goldman Sachs, Citigroup, Morgan Internet payment platform $92 St. Petersburg, FL Stanley www.revolutionmoney.com LoopNet 31-Mar-09 PIPE $50 Calera Capital Rustic Canyon Partners, Trinity Online commercial real estate marketplace NA San Francisco, CA Ventures www.loopnet.com Visible Measures Corp. 27-Mar-09 Series C $10 Northgate Capital General Catalyst Partners, Mohr Provides metrics on internet video usage for top-name entertainment $29 Boston, MA Davidow companies www.visiblemeasures.com Buzz Media 19-Mar-09 Series D $13 Focus Ventures Anthem Ventures, New Enterprise Music and entertainment online media company $44 Los Angeles, CA Associates, Redpoint Ventures, Sutter www.buzz-media.com Hill Auditude 11-Mar-09 Series B $11 Redpoint Ventures Greylock Partners Provides online video advertising $23 Palo Alto, CA www.auditude.com RazorGator 10-Mar-09 Debt $10 Hercules Technology Website that sells hard-to-get tickets for sports and entertainment $44 Beverly Hills, CA Growth Capital events worldwide www.razorgator.com SendMe 5-Mar-09 Series D $12 Triangle Peak Partners Amicus Capital, GrandBanks Capital, Sells mobile content via subscription to several interconnected websites $35 San Francisco, CA Spark Capital, True Ventures www.sendmemobile.com Zoom Media 5-Mar-09 Series A $30 ABS Capital Partners Provides targeted and digital out-of-home media and promotional $30 Montreal, Can. / New York, NY programs for brand advertisers www.zoom-media.com EBIZ.mobility 4-Mar-09 Series B $10 Zitelman Group Online payment processing company NA Jerusalem, Israel www.ebizmobility.com M3X Media 26-Feb-09 NA $11 Agile Opportunity Fund Technology platform that that brings together digital entertainment NA West Palm Beach, FL www.mthreex.com Imagini Holdings 26-Feb-09 Series B $14 Horizon Ventures Atomico, NorthZone Ventures Developed technology that offers online advertisers detailed profiling $19 London, UK information about their online target audiences http://visualdna.com Indoor Direct 24-Feb-09 Series B $23 Syncom Venture Northwood Ventures, Poseidon Digital out-of-home media network NA Addison, TX Partners Enterprises www.indoordirect.com Tremor Media 20-Feb-09 Series C $18 Meritech Capital Provides advertisers with both in-banner and in-stream video advertising $37 New York, NY Partners opportunities www.tremormedia.com SynthaSite 18-Feb-09 Series B $20 Reinet Fund Offers a service that allows users to create web sites using an Ajax- $25 San Francisco, CA based drag-and-drop interface in a web browser without knowledge of www.synthasite.com HTML or programming Offerpal Media 17-Feb-09 Series B $15 D.E. Shaw Ventures InterWest Partners, North Bridge Offers a monetization platform for social applications, online $20 Fremont, CA Venture Partners communities, social games, virtual worlds and mobile applications www.offerpalmedia.com Twitter Inc. 17-Feb-09 Series C $35 Benchmark Capital, A microblogging platform $55 San Francisco, CA Institutional Venture www.twitter.com Partners Outbrain 12-Feb-09 Series B $12 Carmel Ventures Gemini Israel Funds, Lightspeed Creator of a free widget or API to provide readers with a rating platform $19 New York, NY Venture Partners, GlenRock Israel and personalized reading recommendations www.outbrain.com VirtuOz 29-Jan-09 Series B $11 Mohr Davidow Ventures Inventures Group, Galileo Partners Offers a virtual customer service representative for websites $13 Redwood City www.virtuoz.com Schoolwires 15-Jan-09 Series A $15 Kennet Partners Offers online educational services $15 State College, PA www.schoolwires.com Nurien Software Corp. 15-Jan-09 Series A-1 $10 Northern Light Venture Globespan Capital Partners, New Provides a social network and virtual worlds site in which people create $25 Seoul, South Korea Capital Enterprise Associates, QiMing photo-realistic 3D avatars and objects www.nurien.com Venture Partners Deca.tv 12-Jan-09 Series B $15 Rustic Canyon Ventures Mayfield Fund, General Catalyst Provider of online video. $15 Santa Monica, CA Partners, Atomico Investments www.deca.tv Digital Media Private Financings 1/1/2008 to Present ($MM) (1)

Announced Total Name Date Round Amount Lead Investor Other Investors Brief Business Description Raised Yodle 12-Jan-09 Series C $10 Jafco Ventures Draper Fisher Jurvetson Growth, Sells online ad space to small businesses $25 New York, NY Bessemer Venture Partners www.yodle.com RatePoint 8-Jan-09 Series B $10 Castile Ventures .406 Ventures, Prism VentureWorks Offers technology for online merchant reputation management $17 Needham, MA www.ratepoint.com ClickSquared 7-Jan-09 Series B $11 JMI Equity ABS Ventures, Flybridge Capital Provides tools for marketing campaigns across several communication NA Waltham, MA Partners streams, including email, web sites and mobile www.clicksquared.com Taptu 18-Dec-08 NA $10 3i Group, Sofinnova Developer of a search engine for mobile devices NA Cambridge, England Partners http://taptu.com Chegg 17-Dec-08 Series C $25 Kleiner Perkins Caufield Foundation Capital, Gabriel Venture Has an online service that allows students to rent textbooks $34 Santa Clara, CA & Byers Partners, Primera Capital www.chegg.com BlueKai 16-Dec-08 Series B $11 Battery Ventures Redpoint Ventures Operates an online exchange of data relevant to advertising buyers $14 Bellevue, WA www.bluekai.com NetShelter 15-Dec-08 Series A $11 Rho Canada, GrowthWorks Canadian Develops branded marketing campaigns for niche web sites $13 Toronto, CA Fund, JLA Ventures www.netshelter.net Kosmix 9-Dec-08 Series D $20 Accel Partners, Lightspeed Venture Developer of a categorization engine for web searches $55 Mountain View, CA Partners, DAG Ventures www.kosmix.com Private Sales 1-Dec-08 Series C $13 Partech International Mangrove Capital Partners, Operates online shopping network Brands4friends which sells original NA Berlin, Germany Holtzbrinck Ventures goods from fashion and lifestyle brands at reduced prices www.brands4friends.de KickApps 26-Nov-08 Series C $14 North Atlantic Capital Prism Ventures, SoftBank Capital, Offers products based on its social media platform - Widget and Video $31 New York, NY Spark Capital Player Studio, a drag-and-drop widget and custom video player www.kickapps.com authoring environment Goodmail 21-Nov-08 Series C $20 Bessemer Venture DCM, Emergence Capital Partners, Company developing secured email systems NA Mountain View, CA Partners Softbank Capital Angie's List Inc. 19-Nov-08 Debt $18 Lighthouse Capital Operator of a website that enables customers to connect with and rate $53 Indianapolis, IN Partners local service providers be2 12-Nov-08 NA $19 Index Ventures An online match making website NA London, UK RockYou Inc. 3-Nov-08 Series C $17 Softbank Japan, SK Telecom Developer of widget for web and mobile applications NA San Mateo, CA Ventures Helium 29-Oct-08 Series A $17 Signature Capital Northport Private Equity A portal for user-generated content on a range of subjects. $17 Andover, MA Playfish 28-Oct-08 Series B $17 Accel Partners, Index Launched five games that run on social networks NA London, UK Ventures LinkedIn 24-Oct-08 Series D $23 Goldman Sachs, McGraw-Hill SAP Professional social networking website. $100 Mountain View, CA Ventures, Bessemer Venture Partners Mail.com 23-Oct-08 NA $35 Quadrangle Capital Provides web-based email services and other white label services. NA New York, NY Partners Like.com 23-Oct-08 Series C $32 Menlo Ventures Crosslink Capital, Bay Partners, Visual search engine, where the contents of photos are used to search $51 San Mateo, CA BlueRun Ventures, Leapfrog Ventures and retrieve similar items. e-Rewards, Inc. 8-Oct-08 NA $60 TA Associates Polaris Venture Partners, Sutter Hill Conducts internet-based, invitation only, panel research mostly for NA Dallas, TX Ventures market research firms. Oberon Media Inc. 7-Oct-08 NA $20 Infinity I-China Fund NA Provider of a gaming platform, which manages billing and advertising, NA New York, NY and casual game publishing, which provides production and distribution. Zvents, Inc 1-Oct-08 Series C $24 Nokia, AT&T, Red Rock Ventures, Developer of a local search engine. $31 Menlo Park, CA VantagePoint Venture Partners Verimatrix 26-Sep-08 Series C $20 Goldman Sachs Cipio Partners, Crescendo Provides content security for internet protocol television. $43 San Diego, CA Investments, Mission Ventures Digg 25-Sep-08 NA $29 Highland Capital A social networking site whose users vote on their favorite news stories. $40 San Francisco, CA Partners Trion World Network 24-Sep-08 Series C $70 Act II Capital DCM, Trinity Ventures, Rustic Platform to create online games that fix the problems of packaged NA Redwood City, CA Canyon, Time Warner, Peacock software games such as piracy. Leapfrog Online 10-Sep-08 NA $30 North Bridge Growth Provides media planning and buying programs for Fortune 500 NA Evanston, IL Equity marketers that find, convert, and monetize the right customers. Active Network 28-Aug-08 Series B $80 ESPN, Inc. Canaan Partners, North Bridge Online community and provider of application technology for active $275 San Diego, CA Venture Partners, Performance Equity lifestyle and sports groups Conviva 25-Aug-08 Series B $20 UV Partners New Enterprise Associates, Provides live video internet experience $29 San Mateo, CA Foundation Capital Turn 21-Aug-08 Series C $15 Focus Ventures Norwest Venture Partners, Trident Provides an online ad targeting service $38 Redwood, CA Capital, Shasta Ventures La La 11-Aug-08 NA $20 Warner Music Group Provides music streaming and downloads $29 Palo Alta, CA Corp. Imeem 11-Aug-08 NA $15 Warner Music Group Operator of social media network where users create, recommend and NA Palo Alto, CA Corp. discover music, video, art and pop culture media and connect directly with people Zynga 22-Jul-08 Series B $30 Kleiner, Perkins, Avalon Ventures, Foundry Group, Offers a variety of games that operate on multiple social networks and $30 San Francisco, CA Caufield & Byers Institutional Venture Partners Web sites. ContextWeb Inc. 22-Jul-08 Series D $26 Investor Growth Capital Draper Fisher Jurvetson, Draper Contextual advertising company $54 New York, NY Fisher Jurvetson Gotham Ventures, Truste 15-Jul-08 Series A NA Accel Partners Offers global privacy certification and seal programs. NA San Francisco, CA Sojern Inc. 15-Jul-08 Series A $16 Norwest Venture Partners, Trident Company places targeted ads and content on boarding passes that NA New York, NY Capital customers print at home Trulia Inc. 11-Jul-08 Series D $15 Deep Fork Capital Accel Partners, Sequoia Capital, Real estate search engine $33 San Francisco, CA Fayez Sarofim & Co. Plimus Inc. 9-Jul-08 Series A $18 Susquehanna Growth NA Provider of infrastructure tools for e-commerce $18 San Diego, CA Equity Digital Media Private Financings 1/1/2008 to Present ($MM) (1)

Announced Total Name Date Round Amount Lead Investor Other Investors Brief Business Description Raised Mevio Inc. 9-Jul-08 Series C $15 Crosslink Capital Kleiner Perkins Caufield & Byers, Online video start-up $39 San Francisco, CA Sequoia Capital, Sherpalo Ventures, DAG Ventures Twitter Inc. 25-Jun-08 Series B $15 Spark Capital Bezos Expeditions, Union Square Microblogging service provider NA San Francisco, CA Ventures, Digital Garage Atcor Holdings Inc. 23-Jun-08 NA $50 Austin Ventures Company focused on acquiring and operating digital media, advertising NA Austin, TX and marketing businesses LinkedIn Inc. 18-Jun-08 Series D $53 Bain Capital Ventures Sequoia Capital, Greylock Partners, Business-networking Web site $80 Mountain View, CA Bessemer Venture Partners RockYou Inc. 10-Jun-08 Series C $35 DCM Lightspeed Venture Partners, Partech Social media widget companies NA San Mateo, CA International, Sequoia Capital

FirstRain Inc. 9-Jun-08 Series AA-2 $15 Ampersand Ventures, Oak Investment Provides investors with daily reports about the Web activity around their $68 Foster City, CA Partners, Onset Ventures portfolio companies and investment sectors

[x+1] Inc. 29-May-08 NA $16 Advanced Technology Hudson Venture Partners, Blue Chip Provider of predictive online marketing technologies that equip online $36 New York, NY Ventures Venture Company marketers with real-time, automated decision-making to improve engagement and lift conversion rates Openlane Inc. 27-May-08 NA $25 Meritech Capital August Capital, RPM Ventures, Zilkha Online auction service for wholesale used cars $67 Menlo Park, CA Partners Venture Partners Flock Inc. 23-May-08 Series D $15 Fidelity Ventures Bessemer Venture Partners, Social browser the enables people to easily use their social networking $28 Redwood City, CA Catamount Ventures, Shasta and social media services while they are on any site Ventures Clearspring Technologies Inc. 21-May-08 Series C $18 New Enterprise Novak Biddle Venture Partners, Nigel Provider of widget publishing and distribution system to place widgets $35 Arlington, VA Associates Morris on social networks and other Web sites, and a widget ad network to place ads Wetpaint Inc. 19-May-08 Series C $25 DAG Ventures Accel Partners, Frazier Technology Social publishing service provider that lets their users quickly write their $40 Seattle, WA Ventures, Trinity Ventures own comments and upload images, video or other content Xshares Group LLC 26-Jun-08 NA $15 Designer and sponsor of exchange-traded funds $35 New York, NY www.xsharesadvisors.com Social Gaming Network Inc. 13-May-08 Series A $15 Greylock Partners Founders Fund, Columbia Capital, Provider of social games designed to benefit from the connections $15 Palo Alto, CA Novak Biddle Venture Partners between friends on social networks Facebook Inc. 12-May-08 Debt $100 TriplePoint Capital NA Social-networking start-up $340 Palo Alto, CA Spot Runner Inc. 7-May-08 Series C $51 Daily Mail, General Trust, Grupo Internet advertising agency that lets local businesses affordably $111 Los Angeles, CA Televisa SAB, Legg Mason Capital produce, plan and buy television ads through its Web site Management, Groupe Arnault/LVMH

MarketLive Inc. 6-May-08 Series E $20 Jafco Ventures, Globespan Capital, Sequoia Capital, Provider of enterprise-class e-commerce retail technology and services $48 Petaluma, CA Northgate Capital Sigma Partners that help companies sell goods online Meebo Inc. 1-May-08 Series C $25 Jafco Ventures Time Warner Investments, KTB Provider of widget chat rooms $38 Mountain View, CA Ventures, Draper Fisher Jurvetson, Sequoia Capital Sezmi Corp. 1-May-08 Series A $18 Morgenthaler Ventures, Index Ventures, Legend Ventures, TD Provider of a new form of television broadcasting integrating online $18 Belmont, CA Omni Capital Fund, Western Technology content Silverpop Systems Inc. 25-Apr-08 NA $15 D.E. Shaw & Co. Draper Fisher Jurvetson Email marketing company $50 Atlanta, GA Ning Inc. 22-Apr-08 Series D $60 Developer of platform that allows anyone to create and customize a $560 Palo Alto, CA social network Travel Ad Network LLC 21-Apr-08 NA $15 Rho Ventures Village Ventures Partner for advertisers wishing to target travel decision-makers in the NA New York, NY online travel ad market Federated Media Publishing Inc. 16-Apr-08 NA $50 Oak Investment Generated revenue for its partner sites and event organizers through $58 Sausalito, CA Partners integrated sponsorships, advertising and other marketing services for global brands Cuill Inc. 16-Apr-08 Series B $25 Madrone Capital Tugboat Ventures, Greylock Partners Stealthy start-up that says it is building a new type of search engine $33 Menlo Park, CA Partners Move Networks Inc. 15-Apr-08 Series C $46 Benchmark Capital Cisco Systems Inc., Comcast Developer of high-definition online video technology $57 American Fork, UT Interactive Media, Grupo Televisa SAB, Steamboat Ventures, Hummer Winbald Venture Partners

Angie's List Inc. 11-Apr-08 NA $35 Battery Ventures NA Operator of a Web site that allows consumers to connect with and rate $48 Indianapolis, IN local service providers Coremetrics Inc. 4-Apr-08 Series E $60 3i Group Accel Partners, FTVentures, Highland Web analytics company also offering some Web marketing services $171 San Mateo, CA Capital Partners MarketTools Inc. 4-Apr-08 Series E $23 Advanced Equities Inc. On-demand Web marketer $83 San Francisco, CA MediaXstream Inc. 1-Apr-08 Series A $20 Constellation Ventures Columbia Venture Corp. Content delivery network for the production and broadcasting industries $20 Summit, NJ Compare Networks 1-Apr-08 Series A NA Alta Communications Provides product information and industry news for health and life NA San Francisco, CA science professionals

Demand Media Inc. 27-Mar-08 Series D-1 $35 Goldman Sachs, Oak Investment Domain name company $355 Los Angeles, CA Partners Become Inc. 26-Mar-08 Series C $18 TPG Growth NA Shopping comparison Web site $29 Mountain View, CA Thumbplay Inc. 18-Mar-08 Series E $18 Brookside Capital Mobile content seller $36 New York, NY Partners, Cross Creek SendMe Inc. 18-Mar-08 Series C $15 GrandBanks Capital Spark Capital, True Ventures Company uses interconnected Web sites to peddle mobile content $23 San Francisco, CA Nextumi Inc. 13-Mar-08 Series B $15 Draper Fisher Jurvetson Blue Chip Venture Company, Illinois Provider of service that allows people to share and article, photo, video NA Dublin, OH Ventures, DFJ Mercury, Queen City or music file without leaving the site they're on Next New Networks Inc. 13-Mar-08 Series B $15 Goldman Sachs, Bob Pittman, Saban Media Group, Provider of online "micro channels" each of which focuses on specific $23 New York, NY Velocity Interactive Spark Capital topics and has video programs Group Digital Media Private Financings 1/1/2008 to Present ($MM) (1)

Announced Total Name Date Round Amount Lead Investor Other Investors Brief Business Description Raised SearchME Inc. 12-Mar-08 Series D $15 Sequoia Capital, DAG Ventures, Visual search company that provides the search results in a visual $31 Mountain View, CA Lehman Brothers format using Flash technology that presents each result as a full page

Highwinds Network Group Inc. 11-Mar-08 Series A $55 General Catalyst Content distribution provider that ensures better access to content $55 Winter Park, FL Partners, Alta because of geographically proximity and less heavily loaded caches Communications Mzinga Inc. 4-Mar-08 Series D & $33 W Capital Partners GE Equity, Knowledge Industries Corporate social-networking company NA Burlington, MA debt LLC, Bluecrest Capital Finance Turn Inc. 3-Mar-08 Series B $15 Norwest Venture Partners, Shasta Display advertising marketplace $23 Redwood City, CA Ventures, Trident Capital Yelp Inc. 28-Feb-08 Series C $15 DAG Ventures Benchmark Capital, Bessemer Business review site that allows users to post and rank local businesses $31 San Francisco, CA Venture Partners, Max Levchin Panther Express Inc. 27-Feb-08 Series B $16 Index Ventures Gold Hill Capital, Greylock Partners Content delivery network that delivers Web pages to users based on $22 New York, NY their geographic location TidalTV Inc. 27-Feb-08 Series A $15 New Enterprise Company plans to bring television experience to PCs $15 Baltimore, MA Associates, Valhalla IPP Of America Inc. 21-Feb-08 Series B $21 Old Lane LP Hamilton Investment Partners, Edison Provider of electronic payment services predominantly to immigrants $26 Fairfield, NJ Venture Fund Jackpot Rewards Inc. 20-Feb-08 Series A $17 Peter Lynch, Jack Conners, Chuck Online sweepstakes service that promises million-dollar prizes and credit $17 Newton, MA Clough, Tom McDonnell card-style cash back on purchases, while donating a big chunk of profits to charity Seatwave Ltd. 12-Feb-08 Series C $25 Fidelity Ventures Atlas Venture, Mangrove Capital Fan-to-fan ticket exchange market $36 London, UK Partners, Adinvest Badoo Ltd. 11-Feb-08 Series A $31 Finam NA Social networking site $31 London, UK Kobalt Music Group Ltd. 6-Feb-08 Series B $16 Balderton Capital Spark Ventures PLC Independent music publisher providing a modern, efficient and NA London, UK transparent music publishing model GlobalScholar Corp. 4-Feb-08 Series B $27 Knowledge Universe Peter Neupert Online tutoring and curriculum-development company $43 Bellevue, WA Education, Accel Esty Inc. 31-Jan-08 Series D $27 Accel Partners Union Square Ventures, Burda Media Online marketplace of goods created by users, mission to help people $32 Brooklyn, NY make a living from their own handicrafts hi5 Networks Inc. 30-Jan-08 Debt $15 Hercules Technology NA Social networking site $35 San Francisco, CA Growth Capital Inc. Mainstream Holdings Inc. 28-Jan-08 NA $30 HomeDepot, Vantis Capital Digital media company operating a social media and e-commerce site $56 West Palm Beach, FL Management LLC aimed at users in their late twenties Rubicon Project 28-Jan-08 Series B $15 Mayfield Fund IDG Ventures Asia, Stanford Online advertising optimization service $21 Los Angeles, CA University, University of California Berkeley, Matt Coffin, Clearstone Venture Partners Integrated Media Measurement Inc. 25-Jan-08 NA $25 Kantar Media Draper Fisher Jurvetson, Advanced Developer of an end-to-end media measurement system that links $39 San Mateo, CA Technology Ventures media exposure to consumer action Adchemy Inc. 25-Jan-08 Series C $19 Mayfield Fund Hellman & Friedman LLC, August Customer acquisition technology provider that offers companies a $27 Redwood City, CA Capital, Josh Kopelman, Georges chance to hedge their risk on online advertising Harik, Terry Garnett, Ashish Gupta, Pat House, M.R. Rangaswami Inform Technologies 24-Jan-08 NA $15 Spark Capital NA Company helps publishers insert contextual links within online content $25 New York, NY Automattic Inc. 24-Jan-08 NA $29 New York Times Co., Polaris Venture Distributor of WordPress blogging software $30 San Francisco, CA Partners, True Ventures, Radar Partners Gain Capital Group LLC 23-Jan-08 NA $117 3i Group VantagePoint Venture Partners Online foreign exchange company NA Bedminster, NJ Quantcast Corp. 23-Jan-08 Series B $20 Founders Fund Polaris Venture Partners Company uses tags to help Web publishers measure their site traffic in NA San Francisco, CA a more appealing way for advertisers Slide Inc. 22-Jan-08 NA $50 Fidelity Investments, NA Network of online widgets NA San Francisco, CA T.Rowe Price Covario Inc. 22-Jan-08 Series B $15 FTVentures Dubilier & Co., Voyager Capital Helps large companies analyze and manage their online marketing $21 La Jolla, CA Openads 16-Jan-08 Series B $16 Accel Partners Index Ventures, First Round Capital, Open source ad-serving firm $21 London, UK Mangrove Capital Partners, O'Reilly Metaweb Technologies Inc. 16-Jan-08 Series B $43 Goldman Sachs Benchmark Capital, Omidyar Network, Offers a system at Freebase.com to organize information on the Internet $58 San Francisco, CA Millennium Technology Ventures for easy use by applications

JobFox Inc. 9-Jan-08 Series C $20 Draper Fisher Jurvetson New Enterprise Associates, Menlo Online job search provider $40 Mclean, VA Growth Fund Ventures MFG.com Inc. 9-Jan-08 Series D $26 Fidelity Ventures, Fidelity European Founders Fund Online marketplace for manufacturing industries $44 Atlanta, GA Asia Ventures

Notes: (1) All information culled exclusively from DowJones VentureWire . GCA Savvian Advisors Leadership in Digital Media Transactions

1UP Digital Network Sold Stake in Minority Preferred Acquired by Investment by Preferred Preferred to Preferred Preferred Preferred Stock Stock Stock Stock Stock We advised We advised Financial Advisor Financial Advisor the seller the seller Financial Advisor Financial Advisor Financial Advisor Financial Advisor February 2009 January 2009 January 2009 December 2008 November 2008 August 2008 July 2008 July 2008

Acquisition of Acquired by Preferred Stock and Acquired by Preferred Preferred Preferred Preferred Recapitalization Mobile Services Stock Business Stock Stock Stock We advised We advised We advised Financial Advisor Placement Agent Financial Advisor the seller Placement Agent Financial Advisor the buyer the seller June 2008 April 2008 March 2008 February 2008 January 2008 January 2008 December 2007 December 2007

Acquired by Acquired by Acquisition of Acquired by Senior Credit Merger with Minority Preferred Facility Investment In Stock Frontline We advised We advised We advised We advised Management the seller the seller the buyer the seller Financial Advisor Placement Agent We advised INTAC December 2007 December 2007 October 2007 October 2007 October 2007 October 2007 October 2007 August 2007

Acquired by Sale of its CDN Acquired by Acquired by Acquired by Services Business to Preferred Innovation Interactive Preferred Preferred Stock Management Stock Stock We advised We advised We advised We advised We advised Financial Advisor the buyer Placement Agent the seller the seller Financial Advisor the seller the seller June 2007 June 2007 June 2007 May 2007 May 2007 April 2007 April 2007 January 2007

Acquired by Acquisitions of Notes Acquired by Acquisition Senior Credit Notes and Preferred Stock Preferred Facility Facility Membership Units Securities We advised Financial Advisor Financial Advisor We advised We advised the seller Financial Advisor Financial Advisor Financial Advisor and Agent and Agent the buyer the seller October 2006 September 2006 June 2006 June 2006 March 2006 December 2005 December 2005 November 2005

Acquired by Acquired by Common Stock Acquisition of Preferred Senior Credit Initial Minority Stock Facility Capitalization Recapitalization We advised the We advised the majority shareholder We advised Class A Financial Advisor and We advised of IGN Entertainment the seller Placement Agent Financial Advisor Shareholders Placement Agent Placement Agent the buyer November 2005 September 2005 August 2005 July 2005 June 2005 June 2005 April 2005 April 2005 GCA Savvian Advisors Digital Media Team

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