Endeavor-Impact-Report-2013-2014

1 Welcome 3 The Network at Work 22 The Endeavor Model 34 Impact and Results 38 Network 58 Financials, Donors, and Board Members At some point, all entrepreneurs face their Chairman of Endeavor Argentina and a check for “crazy moment”—the juncture at which they $200,000. La Chica Loca indeed! That’s why must choose between the safe and expected, I say that if you’re not called crazy when you’re and the unsafe and unknown. starting something new, you’re probably not In my new book Crazy is a Compliment: thinking big enough! The Power of Zigging When Everyone Else Zags, Today Endeavor supports nearly 1,000 entre- I looked back at my own “crazy moment.” preneurs leading more than 600 companies in It occurred in the spring of 1998. Months 22 countries. Our mission is to ensure that our earlier, I had broken the news to my (loving but entrepreneurs’ crazy moments result in tremen- risk-averse) parents that I wasn’t going to use dous success both for them and for their broader my law degree. Instead, my friend Peter Kellner communities. We take their dreams, push them and I had decided to pursue our dream of launch- to think a little bigger and a little crazier, and help ing an organization that would find high-impact them lay out a roadmap to reach their goals. entrepreneurs and connect them with world- In 2013, Endeavor Entrepreneurs collectively class mentors and support services. High-impact had created 400,000 jobs and were generating means those with the biggest ideas, the likeliest close to $7 billion annually. potential to build businesses that matter, and We believe that every dreamer with a great the ability to inspire others. We were convinced idea and the dedication to bring it to life should that our new organization, Endeavor, would have access to mentors who can help them enable the dreamers, the job creators, and the succeed—regardless of where the entrepreneur role models to reach their goals even faster. was born. If you share this belief, I encourage But first we needed funding. you to join us in our growing Endeavor. After a few months and many “no’s,” Together we can transform economies, we secured a 10-minute meeting for me with one crazy moment at a time. Eduardo Elsztain, one of Argentina’s most celebrated entrepreneurs. I flew to Buenos Aires, Linda Rottenberg walked into Eduardo’s office, and gave him my Co-Founder & CEO most succinct Endeavor pitch, which ended Endeavor with a request for Eduardo’s time, passion, and $200,000. He turned to his deputy and laughed, “Esta chica está loca!” (This girl is crazy!) I teasingly let him know that he was lucky I’d only asked for $200,000. A few minutes later, I emerged from Eduardo’s

Photo by Tim Francis Tim by Photo office with his promise to serve as the Founding

1 To build a world-class business, entrepreneurs need more than an idea. They need people to look up to—role models who achieved incredible success despite the odds. They need access to capital and mentors to help them think big and pivot through challenges. Endeavor has set out to create support systems for entrepreneurs around the world.

2 ENDEAVOR IMPACT REPORT 2013–14 KEY Track the connections between members of Endeavor’s network throughout this story. Mentorship Inspiration Investment Founder

On the morning of July 18, 2014, a month of launching, MercadoLibre had Martín Migoya , the co-founder & ceo of expanded to Mexico and Brazil. a Latin American software development The pair soon met Linda Rottenberg , firm, rang the opening bell of the New a spirited American who was spending York Stock Exchange. In the 11 years since a lot of time in Buenos Aires, evangelizing Martín and his three co-founders — all her theory of high-impact entrepreneur- Endeavor Entrepreneurs — had pooled ship. Linda and her friend Peter Kellner had $5,000 in savings to launch Globant, the recently co-founded a non-profit named company had grown into an employer of Endeavor. The organization’s mission was 3,300 people, with offices in seven countries to find challenged markets’ most promis- and clients like Electronic Arts and Google. ing entrepreneurs and help them scale their The Initial Public Offering of any com- companies to create new jobs and spur eco- pany is remarkable. But Martín will tell you nomic growth. When these entrepreneurs that Globant is just the latest in a series of became successful, Endeavor would show spectacular success stories to emerge from them how to mentor and reinvest in the next the tech network of Buenos Aires. When generation of founders — kick-starting a asked who inspired them to think big, cycle of new business creation. Globant’s founders name fellow Argentine Marcos and Hernán became Endeavor and Endeavor Entrepreneur Marcos Galperin . Entrepreneurs and joined the organization’s new but flourishing network of entrepre- In the late 1990s — a few years before Globant neurs and volunteer mentors in Buenos Aires. came on the scene — Marcos Galperin In 2001, when eBay purchased a 19.5% wrote the business plan for his startup, stake in MercadoLibre, Endeavor mentors MercadoLibre, while attending Stanford’s helped Marcos and Hernán negotiate fair Graduate School of Business. Having seen and favorable terms. Throughout the early the meteoric rise of eBay, he believed that a 2000s, the company continued to scale, similar but localized e-commerce site would and, in 2005, MercadoLibre cemented its do well in Argentina. After graduating, status as the market leader when it acquired Marcos and his schoolmate Hernán Kazah its long-time rival DeRemate. Two years returned to Buenos Aires with the business later, MercadoLibre went public on the plan and a round of angel funding. Within nasdaq in a $400m ipo.

3 THE NETWORK AT WORK “Being chosen as Endeavor Endeavor Argentina. Hernán launched Entrepreneurs was a key Kaszek Ventures, a venture capital fund, milestone in our history, because with MercadoLibre’s former cfo, Nicolas it enabled us to learn from Szekasy, that has invested in over 20 some of the most talented and regional companies. Nicolas Szekasy also experienced professionals in joined Endeavor Global’s board. the world. These mentors helped In the years following the ipo, Endeavor us think big, challenge the status often used MercadoLibre’s story to demon- quo, and build a company that strate the impact that the organization and will continue to grow and create its entrepreneurs could have. They knew, jobs for a very long time.” anecdotally, that Marcos and Hernán were MARTÍN MIGOYA giving back, but they hadn’t measured Co-Founder & CEO, Globant the entrepreneurs’ impact against the broader ecosystem. Endeavor’s Board of Directors challenged the organization’s research arm, Endeavor Insight, to analyze the tech Even before the ipo, Marcos and ecosystem of Buenos Aires. The ultimate Hernán started reinvesting in the network goal of the project was to find a way to by mentoring and investing in up-and- better understand and measure the effects coming Buenos Aires entrepreneurs. Marcos of high-impact entrepreneurs like Marcos eventually joined Endeavor Argentina’s and Hernán on the overall development Board of Directors and donated $1m to of entrepreneurial ecosystems.

Globant’s co-founders and senior management celebrating the company’s listing on the New York Stock Exchange.

4 ENDEAVOR IMPACT REPORT 2013–14 REVENUE 2004 (USD)

In 2003, Globant was just an idea. Today REVENUE 2013 (USD) Globant employs 3,300 people and is listed on the New York Stock Exchange. EMPLOYEES AT SELECTION Since selection by Endeavor in 2005, campuses of Google and Zynga (where the entrepreneurs have heard from global Guibert met founder Mark Pincus). They leaders like Michael Dell (Dell) and Marc have also devoted a tremendous amount EMPLOYEES 2014 Benioff (Salesforce.com) at Entrepreneur of time to giving back, helping Endeavor Summits. An EY Vantage Advisor helped launch in new cities and mentoring Globant streamline processes. Endeavor new entrepreneurs. Immersion Tours brought them to the

Early 2000s 2003 2004 2005 The success of The founders launch The entrepreneurs Martín, Guibert, MercadoLibre inspires Globant, a software attend an Endeavor Nestor, and Martín Martín Migoya, product development International Selection return to an Inter- Guibert Englebienne, company. Panel and are advised national Selection Nestor Nocetti and to return if and when Panel and are Martín Umaran to they improve their selected as Endeavor think about starting openness to feedback. Entrepreneurs. a business.

2006 2007 2009 2010 Google becomes Globant begins Martín Migoya joins Martín Migoya a client of Globant. working with Endeavor Argentina’s serves as a panelist Electronic Arts. Board of Directors. at an International Selection Panel for the first time. Guibert joins Endeavor Argentina’s Board of Directors.

2011 2012 2013 2014 Harvard Business Endeavor Catalyst, a WPP purchases 20% Globant goes public School publishes passive co-investment of Globant. on the New York Stock a case study on fund that invests Exchange. in Endeavor Entrepre- Globant. Guibert Englebienne neurs raising profes- Martín Migoya receives becomes Chairman of sional rounds of capi- EY’s Entrepreneur Endeavor Argentina. tal of $5m or more, of the Year award in makes its first invest- Argentina. ment—in Globant. Reid Hoffman, an Endeavor Global Board Member and the Co- Founder and Executive Chairman of LinkedIn, joins Globant’s Board of Advisors.

5 THE NETWORK AT WORK PARSIMOTION COMENTA.TV BUKEALA

FACTOR WORMHOLEIT IT TAGGIFY JOINCUBE SINIMANES MAPPLO PIXOWL FLIPZU SPLITCAST

UBURO FON

DIOUI ADS CINEMAKI MOVIL

TRENDSETTER BRANDIGITAL PIGMALION INTEXTUAL GETSENSE Understanding this Map CONFRONTE ON ECUALIA CUBIKA TRADE Mentorship LEMON TFX DEPAGINAS Inspiration IDEAME Investment MEDIA DINEROMAIL Founder BIXTI UWALL.TV OLX FULLSALES Circle size reflects the number ESTILO3D RELEVANCE of outgoing connections at each company. ZAUBER DEREMATE INDEX TANK AFLUENTA TACTIVOS EVOLUTION GROUP SOCIAL POPEGO AD PATAGON SIA E-MIND GUIA SISTEMAS OLEO ZETANET JUNAR THREE SIA MELONS PUERTO WEB INTERACTIVE GROUP DEDALORD ARGENT DECIDIR CUPONES Patagon was founded Today he is the Founder ONLINE AD CRITERIA by Wences Casares, one & CEO of Xapo, serves on NETWORKS DEALANDIA of the very first entre- Endeavor Global’s Board DIGITAL REALREF preneurs selected by of Directors, and mentors VENTURES SUMAVISOS DISENO LINKEDSTORE PORTENO Endeavor. Wences sold countless entrepreneurs. Patagon, the eTrade EMERGING TECHNISYS of Latin America, to INTER NETKIOSK CAST AXG Banco Santander for MARKETING STREEMA TECNONEXO an estimated $750m. AD SOCIAL BUMERAN INZEARCH FUNKY RADIO DERECHO INVERTIR GEELBE GRATIS ONLINE TARJETASBUBBA HUNT ASIGNET MOBILE PERCEPTION ADS DIANDI GROUP CORE OPENWARE TARJETASTEL KEEPCON DATOS FUTBOL MINDSET CLAROS S.N. STUDIO DESPEGAR POINT

DOS CONEXIA HARREN NUBING MONOS AMTEC MEDIA WIROOS The success of FNBOX MercadoLibre, an Endeavor company, RECARGA GOOD OPINAIA WIP inspired Globant’s OFFICENET PEOPLE STUDIO SMOWTION four co-founders to think about start- CUPONICA COFFICE MERCADOLIBRE ingSOCIAL a business. METRIX ALTODOT STEADY VURBIA MULTIPIN DATAM LAB TECH SOCIAL CLUB LATIN3 SNACK POINT INTELLIGNOS SONICO AXIALENT WEEMBA

TPVBOOKING GLOBANT DEPRESTAMOS PROGEN AVANTRIP OKEYKO BEBESNET SHUTTLE WEDDING WEB MEDIA PEDIDOSYA CONVERGENCY RESTORANDO CREATION VOSTU 6 ENDEAVOR IMPACT REPORT 2013–14 FLOW THE LARALA AXESO5 MIND TIENDA COMPANY NUBE FLARE3D WASABIT OONY WARAGON

ALAMAULA Endeavor Insight contacted 200 of Buenos Aires’ top tech entrepreneurs and asked them five questions aimed at uncov- ering their connections to other players in the ecosystem: “Who inspired you to become an entrepreneur? Where were you employed before becoming an entrepreneur? Who invested in your company? Who was your mentor during the growth and development of your company? Have you founded other tech companies?” The team then mapped these five different types of connections (inspiration, former employment, invest- Nevzat Aydın is the ment, mentorship, and serial entrepreneur- co-founder and CEO of ship) between entrepreneurs and illustrated Yemeksepeti.com, an the relative influence of each founder by the online food delivery company headquartered size of his or her “bubble.” The resulting in Istanbul. map was anchored by three large firms with oversized “bubbles” (Digital Ventures, an interactive media agency; Patagon, an entrepreneurs have invested in many online brokerage founded by Endeavor Turkish startups. Nevzat, for example, Entrepreneur Wences Casares; and invested in Lidyana, a fashion e-commerce MercadoLibre), whose founders influenced website founded by Endeavor Entrepreneur more than 80% of the other entrepreneurs Hakan Baş , Yemeksepeti’s 2012 announce- in the ecosystem, including, of course, ment that it had raised a $44 million the founders of Globant. round of funding led by General Atlantic attracted coverage about both the company Eager to discover whether this phenom- and Istanbul’s burgeoning entrepreneur- enon — in which just a few entrepreneurs ship scene. spark and foster the development of an To Endeavor Insight, the density of entire network — would emerge elsewhere, the ecosystems in cities like Buenos Aires Endeavor Insight repeated the mapping and Istanbul signified that Linda and Peter’s exercise multiple times, studying cities like original hypothesis was correct. High- Amman, Istanbul, New York, Bogotá, and impact entrepreneurs have an outsized Mexico City. They found the same pattern impact on the markets where they live and around the world. work. Because they create more jobs and In Istanbul, for example, Yemeksepeti, generate more revenue than the average an online food delivery company, influenced entrepreneur, they inspire up-and-coming over 55 companies in the city’s tech sector. founders to think big. They create a culture Its ceo Nevzat Aydın and his co-founder of innovation within their companies Melih Ödemiş were among the first Turkish so that employees begin thinking about entrepreneurs selected by Endeavor. In starting businesses of their own. They are the years since selection, the influence of eager to serve as role models. Despite the entrepreneurs has multiplied. Both limited time, they mentor the next cycle

7 THE NETWORK AT WORK Alex Torrenegra and Tania Zapata—the Colombian founders of Bunny Inc., a company that provides services to connect voice actors with jobs—present their business to panelists at the Palo Alto International Selection Panel in October 2013.

Endeavor Entrepreneur Diego Saez-Gil (right) founded WeHostels, a budget travel platform that was supported by Torrenegra Labs. In 2014, WeHostels was acquired by StudentUniverse.

of entrepreneurs. And they invest their own to success, to reinvestment, and beyond. profits in those entrepreneurs’ ventures. In 2013, Endeavor Insight studied the By reinvesting in the network, successful tech ecosystem of Bogotá, Colombia. They entrepreneurs multiply their impact, build- found that the network has grown exponen- ing entrepreneurial ecosystems that give new tially over the past two decades. From 1992– founders access to the mentorship, talent, 2002, just 37 tech companies were based in and capital necessary to succeed. Just a few Bogotá, and interactions between founders entrepreneurial pioneers drive the creation were limited. By 2013, there were roughly of huge ecosystems like Silicon Valley. It 230 Bogotá-based tech companies, and their is Endeavor’s mission to find those entrepre- founders were connected via a dense and neurial pioneers and to help them through thriving network. Who — or what — helped each stage of the cycle: from startup, catalyze this growth?

8 ENDEAVOR IMPACT REPORT 2013–14 Throughout Endeavor Insight’s inter- weeks to as few as 10 minutes. Within views with Bogotá tech entrepreneurs, one six months the company was profitable and familiar name was frequently cited: that had 10,000 registered users. of Endeavor Entrepreneur Alex Torrenegra . In 2005, Alex and Tania decided to Alex founded or co-founded ten different hire a ceo to lead Voice123 so that they tech firms, inspired the founders of eight could focus on other projects. For the next companies, mentored five entrepreneurs, few years, Tania concentrated on voice invested in 10 ventures, and employed acting while Alex split his time amongst 10 people who went on to start their several other companies he had founded or own companies. co-founded, including Torrenegra Labs, Alex’s entrepreneurial ambitions started an incubator for Bogotá tech startups. early: When he was 14, he launched a In 2011, the explosion of crowdsourcing data entry business so that he could save convinced Alex to return to the company up to buy a computer. Five years later, he full-time. dropped out of college in Bogotá and moved That same year, Alex and Diego Saez-Gil , to Miami with dreams of starting his next the founder of a Torrenegra Labs portfolio company. He got a job at a McDonald’s and company, met Endeavor Global’s President worked on improving his English. In his free Fernando Fabre . Alex was impressed by time he experimented with opportunities Endeavor’s range of support services, and in online marketplaces. suspected that access to a network of sea- In 2002, Alex met his future wife, soned mentors could help him take Voice123 Tania Zapata , a voice actor and radio host. to the next level. He soon connected with In the early 2000s, recruiting for voice Endeavor’s team in Bogotá and joined the acting still depended wholly on talent agents multi-step screening process to become who represented voice actors and helped an Endeavor Entrepreneur. them to land and negotiate jobs. The process was rife with inefficiencies, and Tania “You cannot hope to lift frequently struggled to find work. Her frus- economies without promoting tration inspired the couple to think about how the industry could be improved. They entrepreneurship. Endeavor decided that an online marketplace for voice has proven itself the most actors could help solve her challenge — effective organization at building one that was shared by thousands of other entrepreneurial ecosystems actors around the world. where none had existed before.”

Alex and Tania began building a team JAMES WOLFENSOHN of highly-skilled web developers in Bogotá. Chairman, Wolfensohn & Company LLC Together with the team, they developed Former President, World Bank a tool called Voice123 that eased the process for both voice actors and casting agents: Voice actors pay a subscription fee to record auditions, while casting agents sift through Over the following months, 14 Endeavor the auditions and select the best talent mentors interviewed Alex, reviewing for the job. The technology reduced the time every aspect of Voice 123’s business needed to cast a 60-second video from 4 –5 model as well as his presentation style.

9 THE NETWORK AT WORK “Endeavor and Bain have partnered necessary to become an Endeavor Entre- together to better understand how preneur. The panelists recommended entrepreneurial ecosystems are that Alex return to Endeavor if and when built—resulting in key actionable he had demonstrated complete commit- lessons that we are both applying ment to Voice123 and proved its potential to our work as we scale and advise for growth. Alex took the panelists’ feedback to heart. companies around the world.” He focused on refining the VoiceBunny CHRIS BIERLY Partner, Bain & Company product, expanded his headcount by 50%, rebranded the company “Bunny Inc.,” and persuaded Tania to return to the company in an operational capacity. A year and a half later, Alex felt ready to re-present his business at an International Selection Panel. This time Tania joined him as a candidate. At an isp in Palo Alto, Endeavor mentors helped Alex develop California, they were interviewed by a new a strategic plan for the launch of a new, com- set of panelists, including Nevzat Aydın. mission-based product called VoiceBunny. Nevzat and his fellow panelists were VoiceBunny clients submit a project and the impressed by Bunny Inc.’s traction since platform sets a rate and finds the best talent the previous ISP. They believed that the for the project at the lowest price. In as few company had reached an inflection point, as 10 minutes, clients receive the completed and that Endeavor could help its founders voiceover in the file format of their choice. take advantage of the opportunities By May 2012, Endeavor Colombia board ahead. Alex and Tania were selected as members and mentors approved Alex’s Endeavor Entrepreneurs. request to present his business at an Inter- Soon thereafter, Alex and Tania received national Selection Panel — the final stage a “roadmap” — or an overview of the services of Endeavor’s selection process. He boarded Endeavor would provide them in their first a plane to Cartagena, where a panel of six two years as Endeavor Entrepreneurs. They global business leaders interviewed him have strategized with Endeavor mentors about Voice123’s accomplishments to date on how to best leverage their network and and his expansion plans for the business. improve Bunny’s customer service structure. Panelists look for several key factors: poten- In August 2014, Alex attended a Stanford tial for the business to scale and create jobs, Graduate School of Business Leadership potential for the company to positively Program that was designed specifically for impact the economy, and potential for the Endeavor Entrepreneurs — an experience entrepreneur to inspire future generations. he said helped him “learn many things that Alex’s interviewers believed Voice123’s busi- are being strategically implemented in dif- ness model was disruptive and that Alex ferent areas within Bunny Inc.” Meanwhile, was a natural and inspirational entrepreneur, Bunny Inc. more than doubled its revenues but they worried that his focus was still too from year-end 2012 to year-end 2013 and divided amongst his various businesses. has built out their team by 25%. In the He did not receive the unanimous support coming months, through the Endeavor-EY

10 ENDEAVOR IMPACT REPORT 2013–14 Alex Torrenegra and Tania Zapata at Bunny Inc.’s headquarters in 2014.

Vantage program, an EY Advisor will spend Alex and Tania already serve as advocates six weeks in Bunny’s Bogotá office, helping for Bogotá’s entrepreneurial ecosystem. In the entrepreneurs analyze inefficiencies and 2014, The Wall Street Journal published crafting a plan to close any gaps. an opinion-editorial that Alex authored about Alex and Tania aspire to build Bunny Bogotá’s entrepreneurship scene, in which Inc. into the world’s leading platform for he argued that, instead of trying to emulate crowdsourcing creative talent, and Endeavor Silicon Valley, emerging markets should local- will support them throughout their jour- ize their policies. Endeavor believes that Alex ney towards that goal, helping them think and Tania have become key role models for through a range of issues like refining their the next generation of founders in Bogotá by growth strategy, identifying potential new generating high-quality jobs and helping the markets, and optimizing business processes. city’s entrepreneurship ecosystem thrive.

11 THE NETWORK AT WORK Investor Network Events 2013–2014:

LONDON

SAN FRANCISCO ISTANBUL

MEXICO CITY

BOGOTÁ

JAKARTA

SÃO PAULO

BUENOS AIRES

Launched in 2011, the Endeavor Investor Network is an invitation-only program designed specifically for leading global equity firms. In 2013 – 2014, the Investor Network hosted nine events in eight different countries (above). Over the past 24 months, Endeavor has helped 75+ companies raise 350m+ in global equity capital.

12 ENDEAVOR IMPACT REPORT 2013–14 In September 2014, Endeavor Colombia hosted an Investor Network event that was attended by Investor Network members and high-growth Endeavor companies from across the region.

The Investor Network has coordinated 50+ cus- tomized roadshows for Endeavor Entrepreneurs and Investor Network members. Hassan Hamdan, the founder of OTS, a Saudi company that sells digital communications solutions to businesses, met with A 2013 Investor Network Tim Draper, the founder event in San Francisco of Silicon Valley-based featured an interac- venture capital firm, tive cooking session Draper Fisher Jurvetson. for entrepreneurs and investors.

13 THE NETWORK AT WORK Zafer Younis (left) and Ramzi Halaby are the founders of The Online Project, an agency that focuses on building social media strategies for companies in the Middle East with offices in Amman, Dubai, and Riyadh.

entrepreneurs and influencers across the Middle East. For example, they landed The Online Project’s first clients at ArabNet, a Beirut-based Middle East technology summit founded by an Endeavor Lebanon Entrepreneur, Omar Christidis . Since selection by Endeavor in 2010, Zafer and Ramzi have received services locally, regionally, and globally, working Beyond creating ecosystems at a city level, with Endeavor teams from Amman to Endeavor is working to build regional Dubai and from New York to San Francisco. and even global networks.This goal is part- Zafer has attended three Endeavor South icularly critical in the Middle East and by Southwest tours, one of which featured Europe, where the small population size an intimate breakfast roundtable with of some of the markets in which Endeavor Scott McNealy, the co-founder of Sun operates, including Greece, Jordan and Microsystems. Endeavor’s uae affiliate Lebanon, means that high-impact is helping Zafer and Ramzi build out entrepreneurs must quickly expand inter- The Online Project’s business in Dubai, nationally in order to achieve scale an important regional hub. And Endeavor and sustainability. mentors — including Endeavor ceo Ramzi Halaby and Zafer Younis are the Linda Rottenberg — counseled the entre- Jordanian co-founders of both Modern preneurs to let go of Modern Media in order Media, an independent radio broadcasting to focus 100% on The Online Project. company, and The Online Project, a The entrepreneurs have paid forward social media agency. Endeavor Insight’s the support they’ve received from Endeavor. analysis of Amman’s tech sector showed Zafer has twice served as a panelist at that Ramzi and Zafer have mentored or Endeavor International Selection Panels, inspired the founders of 16 different interviewing candidates from emea, Latin Amman tech companies. But Zafer and America and Southeast Asia. When the Ramzi don’t just have clients and connec- entrepreneurs succeeding in selling Modern tions in Amman — they are connected to Media in 2014, they donated a portion of

14 ENDEAVOR IMPACT REPORT 2013–14 their profit to Endeavor Jordan. Many other Endeavor Entrepreneurs have benefited from the impressive range of cross-border services that the organization offers via its nine affiliates in the Middle East and Europe. Nada Debs , a leading designer and an Endeavor Entrepreneur from Lebanon, was recently mentored by an Endeavor uae board member in the fashion and retail space. She also connected with Loai Naseem , the founder of Lomar, a Saudi apparel manufacturer.

Lomar, a Saudi fashion company, is best known for its sleek and modern thobes, traditional robes worn by men. In 2014, Lomar launched a women’s line.

Nada Debs designs and manufactures high-end furniture that is sold around the world. In 2013, The Wall Street Journal featured Nada Debs’ company, personal history, and Beirut apartment.

15 THE NETWORK AT WORK HotelBrain manages Kirini Suites & Spa, a property on the Greek island of Santorini. The company also manages nearly 100 other properties in Greece, Cyprus, Lebanon, and Turkey.

Similarly, when HotelBrain, a Greek Africa. Carlo’s company, Taste Holdings, hotel management company founded by began as a Scooter’s Pizza. Today Taste Panos Paleologos , decided to launch Holdings is the holding company for an office in Istanbul, the Endeavor Turkey nine brands in South Africa, including team set up a three-day roadshow for Domino’s, and is one of the largest the founder. employers in the Endeavor network. Increasingly, Endeavor Entrepreneurs are In March 2014, Abdulmohsin traveled seeking out introductions to peers based in to Johannesburg to meet with Carlo and different geographic markets but operating other Taste Holding executives in person. in the same industry. Abdulmohsin Al-Rabiah , He visited some of the company’s restau- for example, is the founder of Shawarmer, rants and checked out its production and a Saudi chain of 39 fast-casual restaurants distribution centers. The experience that specializes in the popular Arabic sand- helped Abdulmohsin enhance his under- wich shawarma. When Abdulmohsin asked standing of how to balance corporate Endeavor for help refining his growth and ownership with franchisees, maintain operations strategies, his account manager operations standards, improve employee connected him to Carlo Gonzaga , an culture, and make technical improve- Endeavor Entrepreneur based in South ments to his supply chain.

16 ENDEAVOR IMPACT REPORT 2013–14 Carlo Gonzaga, the Founder & CEO of Taste Holdings, prepares a pizza at one of the company’s 544 owned and franchised restaurants in South Africa.

Chefs prepare a meal at one of Shawarmer’s 39 fast-casual restaurants in Saudi Arabia.

17 THE NETWORK AT WORK The event convened representatives from five web-based technologies are changing the Endeavor Entrepreneur companies, including education space and methods for adapting ASK for Human Capacity Building (Jordan), to these rapid changes. A team from the Campoalto (Colombia), Enova (Mexico), IPETH Concordia Summit co-hosted a live Twitter (Mexico), and Lumni (Colombia). Together, these conversation with Dominguez, engaging companies provide training and educational ser- Endeavor Entrepreneurs and Twitter vices to nearly 200,000 individuals, with a focus users to address key issues facing the edu- on youth and underprivileged communities. cation sector. Each Endeavor company was paired with a team of 4 – 6 senior executives from Barclays who provided strategic advice and guidance tailored to each company’s specific challenges. The Barclays session was followed by an afternoon of networking and discussions at Endeavor’s headquarters. Guest speakers Jeremy Johnson, Co-Founder and Chief Strategy Officer at 2U, an educational technology company that works with universities to offer online degree programs, and Carlos Dominguez, SVP at Cisco Systems, offered insight into how

18 ENDEAVOR IMPACT REPORT 2013–14 Participants Felipe Vergara, founder of Lumni. ASK FOR HUMAN CAPACITY Founded by Amin Amin, the Jordan-based ASK (Attitude, Skills and Knowledge) for Human Capacity Building develops innovative programming and offers consulting services with a special focus on education to bridge the education-employment gap.

CAMPOALTO Colombia’s Campoalto, founded by Hugo Fernando Novoa, Alvaro Hoffmann, and Andrés Angulo, provides vocational training to low- income students, particularly dis- advantaged women, by offering flexible schedules and an affordable pay-as-you-go model.

ENOVA Amin Amin, founder of ASK for Human Capacity Building. Enova is a social enterprise in Mexico that designs innovative educational models and spaces, with the mission of bringing accessible technology to low- income communities in order to close the digital divide. Enova provides populations in marginal- ized neighborhoods with access to community spaces where they can take courses, use computers and more.

IPETH IPETH, founded by Arturo Macip and Alejandro Cuervo Guevara, is a university based in Puebla, Mexico that offers bachelors degrees in physical therapy and primarily targets low-income students who would not normally be able to enroll in four-year degree programs.

Endeavor Entrepreneurs LUMNI with Barclays Managing A venture capital fund that Directors at the 2014 invests directly in human capital, Education-Youth Impact Lumni finances education for Advisory Tour. students in exchange for a small fixed percentage of their future income over a pre-set time period. Founded by Colombian entrepreneur Felipe Vergara, the firm currently operates in Colombia, Chile, Mexico, Peru and the U.S.

19 THE NETWORK AT WORK Endeavor Chairman Edgar Bronfman, Jr. and Virgin Group Founder Sir Richard Branson on stage at Endeavor’s 2013 Gala in New York City.

Abdulmohsin wasn’t the only entrepre- Endeavor’s impressive track record has neur hosted by Endeavor South Africa this propelled it in new and unexpected direc- year; when Amr Shady , an entrepreneur tions — often at the urging of board mem- from Egypt, traveled to Johannesburg to bers and entrepreneurs who are eager to plan the expansion of T.A. Telecom to South devote significant time to helping Endeavor Africa, the local Endeavor team arranged extend its global footprint. The expansion a series of meetings for him. Moving for- of Endeavor in Miami, for example, was ward, these peer-to-peer connections will spearheaded by an Endeavor board member be a key component of the organization’s who believed that the organization could service strategy. Endeavor has already hosted be relevant to struggling American cities. an Education-Youth Impact Advisory tour Endeavor Entrepreneurs from Argentina, that convened entrepreneurs from three Colombia, and Turkey have traveled to Italy, countries working in the education space Peru, and Bulgaria, respectively, to help for a day of individualized meetings with Endeavor build networks in these target Barclays Managing Directors, as well countries. as roundtables with nyc-based education The last 17 years have seen Endeavor entrepreneurs and executives. expand from a single office in Argentina to 22 countries around the world, and the Whether on a city or country level, across network continues to grow. The years ahead a region, or peer-to-peer, Endeavor’s work is will see Endeavor forging more cross-border transforming ecosystems — and the econo- connections between entrepreneurs, inves- mies in which these ecosystems operate. In tors and business leaders, generating tens of 2013, Endeavor’s nearly 1,000 entrepreneurs thousands of much-needed jobs, and lead- had created 400,000 jobs and generated ing a truly global movement for sustainable, $6.8b in revenue. Roughly 90% of them act entrepreneur-driven economic growth. as angel investors, mentors, or actively promote entrepreneurship by giving speeches and appearing in media.

20 ENDEAVOR IMPACT REPORT 2013–14 “Endeavor’s global movement is transforming economies, one entrepreneur at a time.”

EDGAR BRONFMAN, JR. General Partner, Accretive LLC Chairman, Endeavor

21 22 La unch

in a st u S countries with affiliate or 2 support offices

S e l e

e high-impact v

i entrepreneurs G

jobs created leading

in revenues generated companies u

in 2013 o

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i t 4 l u M

23 THE ENDEAVOR MODEL What We Look for in New Markets Ambitious entrepreneurs As demand for the economic and social value running high-potential companies generated by high-impact entrepreneurship increases, entrepreneurs and executives are urging Business leaders committed to unleashing Endeavor’s Endeavor—the global leader in scaling businesses model in their community and developing entrepreneurial ecosystems— Growing enthusiasm for to launch in their communities. Once focused entrepreneurship, demonstrated by the presence of exclusively on emerging markets, today Endeavor accelerators and incubators believes that its model is relevant in a broader range of countries and cities around the world.

LAUNCHED SCOPING GLOBAL SUPPORT OFFICES

CZECH POLAND REPUBLIC HUNGARY ROMANIA DETROIT TORONTO ITALY DENVER SPAIN BULGARIA NEW YORK PORTUGAL TURKEY SAN FRANCISCO LOUISVILLE GREECE LEBANON JORDAN ATLANTA JAPAN MIAMI VIETNAM MOROCCO UNITED ARAB EGYPT EMIRATES SAUDI ARABIA PHILIPPINES MEXICO COLOMBIA THAILAND NIGERIA MALAYSIA GHANA SINGAPORE* KENYA

PERU BRAZIL INDONESIA

CHILE URUGUAY SOUTH AFRICA

ARGENTINA

* Singapore is also being scoped as a potential affiliate.

24 ENDEAVOR IMPACT REPORT 2013–14

Six times a year, Endeavor selects the next class of entrepreneurs at International Selection Panels, where business leaders interview candidates before deciding whether these candidates become Endeavor Entrepreneurs.

January 2013–June 2014:

Initial Reviews First Opinion Reviews Second Opinion Reviews

3,258 candidates received Endeavor staff interviewed Senior-level Endeavor men- an initial review by Endeavor 1,585 candidates to assess tors and business leaders staff. their fit with Endeavor. conducted 2,079 interviews of 652 companies, probing Recommended the founders’ business by Endeavor network strategy, innovation, and Nominated through website growth potential.

Discovered through pro-active research by Endeavor staff

International Selection Panels Local Selection Panels

Global business leaders Local mentors and board interviewed 204 candidates members interviewed representing 130 companies candidates leading 180 com- JAPAN at seven “ISPs.” Candidates panies and selected the most must receive unanimous promising to present at an support to be selected International Selection Panel. at an ISP.

candidates leading 97 companies selected as Endeavor Entrepreneurs.

25 THE ENDEAVOR MODEL

Post-selection, Endeavor helps entrepreneurs grow their businesses by delivering services through four key channels: mentoring, smart capital, partnerships, and events.

Mentoring Partnerships

Endeavor’s network donates significant Through Endeavor’s local and global time to mentoring Endeavor Entre- partnerships, Endeavor Entrepreneurs preneurs. In 2013/2014: have access to support services including market research, industry expertise, and pro-bono consulting/talent. In 2013/2014, global partners and hours of counsel were provided sponsors included: by Endeavor mentors.

Global Mentoring sessions were coordinated between Endeavor Entre- preneurs and Endeavor mentors.

Endeavor Entrepreneur advisory board meetings occurred.

MOST ADVISORY MEETINGS EVER “An effective mentorship can save the entrepreneurs a few mistakes and help them take bold decisions they may not have taken on their own.”

DIEGO PIACENTINI Senior Vice President, International Consumer Business, Amazon.com Senior Advisor, Endeavor

26 ENDEAVOR IMPACT REPORT 2013–14 Events

Bringing together Endeavor Entre- preneurs, mentors, and global business leaders, events are a cornerstone of the Endeavor model and range from intimate networking lunches to 1,000+ person conferences. In 2013/2014:

Endeavor Entrepreneurs attended week- long executive education programs at Harvard Business School and the Stanford Graduate School of Business.

Jack Dorsey and Biz Stone, the founders of Twitter, speak to attendees people attended “Experiencias”— at Endeavor’s 2013 educational outreach events— Summit in San Francisco. throughout Latin America.

Smart Capital

Endeavor helps its entrepreneurs access smart capital and structure fair deals with investors through the Endeavor An Endeavor mentoring Investor Network, which connects leading session at a 2013 event. venture capital and private equity firms with Endeavor Entrepreneurs. In 2013/2014:

leading investment firms served as formal members of the Investor Network.

investors, Endeavor Entrepreneurs, and Endeavor candidates attended 9 Investor Network Treks in 8 countries.

connections between Endeavor Entre- preneurs and investors were coordinated.

27 THE ENDEAVOR MODEL MIM DIGITAL LAPLATAFORMA UNICENTRO MINDS OJA.LA AENTROPICO METRIX TANKE WEKANTU CORPORATION VLIPCO VIDEO GAMES SOLOCONTRATA.ME TECHCETERA KUBO PIO.LA WEKANTU ALEPHSA SARTA When successful entrepreneurs reinvest in their MASHPEDIA WIDE QUIERO ANDROCIAL TECH MUSICOS local networks, their impact multiplies. HOTEL INTELWAYS VLOOPING TRAIL ASCENDO MAPACHE KAWAK NOVASEC Endeavor prepares its entrepreneurs to take SERVIHELP S2C STUDIOS ASEGURATE VERNEVIL FACIL REALSTATERS TECHNOLOGY MIMOSA on a wider role within their ecosystems—in fact, WIGILABS SEGUROFACIL CODETAG SISMA CLIKKOM BODA 90% of Endeavor Entrepreneurs serve as angel PLANES SOCIALATOM SELOCOMPRO MOVI GROUP DIMPROTECH BLUR WEHOSTELS investors, mentor other entrepreneurs, or actively TEAM PC SYNERGY ZEUS GOLPREDICTOR ALL SMART TPC TECNOLOGIA promote high-impact entrepreneurship by giving TAPPSI CIBERIX MR.SAPO DIGITAL CONTACTO GLOBALSOFT MEDIA SMS LIMITADA TECHNOLOGIES URGIFT.IN ELITE OLIVE speeches and appearing in media coverage. EMZAC STARTBULL COTIZA.CO CELMEDIA ARUNOVO TIENETIENDA.COM MIRECO GROUP LATIENDADEROSAS PAGOSONLINE COLDEFLORES CUPONATIC.COM CONVERTING AGENTPANDA MEDIA VIVAREAL ARANDA T-UNO SUPERTRENDI CIUDAD DE SOFTWARE LENDDO MASCOTAS MEGAINCENTIVOS IMAGINNO FORWARD LETMEGO CASTING123 SOLUCIONES INGENIO NEWNET SIRIUS ESTRATEGICAS COLOMBIANO LACIUDAD In 2011, Endeavor Insight began measuring the INMEDIA PLATAFOR.MA IDEODROMO INDUDATA EFFECTEL OMOTIO strength of entrepreneurship communities BUNNY AZURIAN METROCUADRADO around the world by analyzing the connections TORTOLOS INC. MENTEZ ECOCICLUS CIVICO REVISTERO RENTALO between local entrepreneurs. I-COUNTECH ESOCIAL VIRTUAL DONET MARKETING BUSINESS ENTER.CO LADCA When Endeavor Insight studied the technol- MELOALQUILAS LANGUAGE123 CYBERPRISE SERV IWIN INTERNATIONAL MELOCOMPRO INFORMACION COMMUNITIES ogy sector in Bogotá, Colombia—interviewing CELUTICKET.COM HOLDING VALLENATO IWIN SUPERLIKERS more than 200 local tech entrepreneurs, they LYSIS COCODRILO MUVII INK found a dense network of connections among DOG GAMES TORRENEGRA 1992– 2000– 2003– 2007– YEAR LABS 1999 2002 2006 2013 FOUNDED companies. In total, 319 instances of mentorship, SENSETA ENVAPACK AXESNET ENJAMBRE DIRECTA inspiration, and investment among entrepre- SERVERQUO COLOSA YOGIS ENIACNET TELESAT INDUSTRIAL neurs helped to drive the growth of approxi- SEQUOIA ID MEDIA SPACE MANTARAYA IMMERSION EFORCERS INTERACTIVE EVOLVING mately 150 new companies between 2007 and TRAVEL GAMES CALIPSO AKUOS UNETE HEON ZINOBE TRENDS 2013. Companies in this sector generated 6,000 SNAPPYGO X PIN CELUMANIA E-SOFIA NDI CONSULTORES jobs for the city’s economy. COMPARAMEJOR TERAVISION TES I NETWORK NEXTMATCH.ES ECOMASTER AMERICA THOTZ INCELAN TEXTIL DIGITAL EFECTO SEGURODIGITALES OSK EQUITEL DISASSI GROUPON STUDIOS SWIRELESS Mapping Bogotá’s Tech Sector DESIGN ZEROFRACTAL COLOMBIA TUYOYO SIM THE NET LOCALO PTESA COLOMBIA DESIGN KRYIPTONITA DIRTY This network map of Bogotá’s more arrows flow outwards DYNAMO INALAMBRIA LAP DIGITAL KITCHEN INTERNATIONAL tech sector illustrates how and the circle grows. BOOKING ORUGA COLOMBIA the number of companies, MARKETS PRODINEX GAMES PAPATEL MASS RED BRAINZ their influence, and the DIGITAL SEGURO TRIPEEZY CONEXRED TECTON ecosystem as a whole have Endeavor company DASHBELL MANGO TREE JAQUE grown. Circles represent Endeavor-connected MATE TALENT SM B SMART companies and their TWNEL SURFERS DIGITAL TUT DOMOTI TEE 60 PRESS STUDIO VOLTIOS founders. Connections can Mentorship START TOGETTHERE ECOPUNTOS exist between founders Inspiration WEWINE GROOVESHARK INTERACTIVE CUPMASTER MEDIA GLOBAL (mentorship, inspiration), Investment LASPARTES BODA CONECSOFT ALL GAME GEELBE FREED a founder and a company Founder LATINA BIZONTE BANTANGA DESIGNERS CELLVOZ GUILD (investment), or can MEDIA EOSCH 12 HIT COMBO! UNDERTAIL KOBOLTS AIDA represent a founder moving Circle size reflects the PRECISE ENGAGEMENT TUTORYA to a new company (former number of outgoing IRIS DATA NUEVAGENDA CRM employee, founder). As connections at each MEDIA SUPERIOR LAB PICAPALA companies and their founders company. IMPACTO BRAIN RASS NETBANGERS WINNER GIFTCODE YIMUP PRIME become more connected, CELL GASONET NETHUB GAF IMPACTA INTERNATIONAL ONSWIPE PRODUCCION CONSULTORES PULSOSOCIAL APARTE 28 ENDEAVOR IMPACT REPORT 2013–14 MIM DIGITAL LAPLATAFORMA UNICENTRO MINDS OJA.LA AENTROPICO METRIX TANKE WEKANTU CORPORATION VLIPCO VIDEO GAMES SOLOCONTRATA.ME TECHCETERA KUBO PIO.LA WEKANTU ALEPHSA SARTA MASHPEDIA WIDE QUIERO ANDROCIAL TECH MUSICOS HOTEL INTELWAYS VLOOPING TRAIL ASCENDO MAPACHE KAWAK NOVASEC SERVIHELP S2C STUDIOS ASEGURATE VERNEVIL FACIL REALSTATERS TECHNOLOGY MIMOSA WIGILABS SEGUROFACIL CODETAG SISMA CLIKKOM BODA PLANES SOCIALATOM SELOCOMPRO MOVI GROUP DIMPROTECH BLUR WEHOSTELS TEAM PC SYNERGY ZEUS GOLPREDICTOR ALL SMART TPC TECNOLOGIA TAPPSI CIBERIX MR.SAPO DIGITAL CONTACTO GLOBALSOFT MEDIA SMS LIMITADA TECHNOLOGIES URGIFT.IN ELITE OLIVE EMZAC STARTBULL COTIZA.CO CELMEDIA ARUNOVO TIENETIENDA.COM MIRECO GROUP LATIENDADEROSAS PAGOSONLINE COLDEFLORES CUPONATIC.COM CONVERTING AGENTPANDA MEDIA VIVAREAL ARANDA T-UNO SUPERTRENDI CIUDAD DE SOFTWARE LENDDO MASCOTAS MEGAINCENTIVOS IMAGINNO FORWARD LETMEGO CASTING123 SOLUCIONES INGENIO NEWNET SIRIUS ESTRATEGICAS COLOMBIANO LACIUDAD INMEDIA PLATAFOR.MA IDEODROMO INDUDATA EFFECTEL OMOTIO BUNNY AZURIAN METROCUADRADO TORTOLOS INC.

MENTEZ ECOCICLUS CIVICO REVISTERO RENTALO I-COUNTECH ESOCIAL VIRTUAL DONET MARKETING BUSINESS ENTER.CO LADCA MELOALQUILAS LANGUAGE123 CYBERPRISE SERV IWIN INTERNATIONAL MELOCOMPRO INFORMACION COMMUNITIES CELUTICKET.COM HOLDING VALLENATO IWIN SUPERLIKERS LYSIS COCODRILO MUVII INK DOG GAMES TORRENEGRA 1992– 2000– 2003– 2007– YEAR LABS 1999 2002 2006 2013 FOUNDED SENSETA ENVAPACK AXESNET ENJAMBRE DIRECTA SERVERQUO COLOSA YOGIS ENIACNET TELESAT INDUSTRIAL SEQUOIA ID MEDIA SPACE MANTARAYA IMMERSION EFORCERS INTERACTIVE EVOLVING TRAVEL GAMES CALIPSO AKUOS UNETE HEON ZINOBE TRENDS SNAPPYGO X PIN CELUMANIA E-SOFIA NDI CONSULTORES COMPARAMEJOR TERAVISION TES I NETWORK NEXTMATCH.ES ECOMASTER AMERICA THOTZ INCELAN TEXTIL DIGITAL EFECTO SEGURODIGITALES OSK EQUITEL DISASSI GROUPON STUDIOS SWIRELESS DESIGN ZEROFRACTAL COLOMBIA TUYOYO SIM THE NET LOCALO PTESA COLOMBIA DESIGN KRYIPTONITA DIRTY DYNAMO INALAMBRIA LAP DIGITAL KITCHEN INTERNATIONAL BOOKING ORUGA COLOMBIA MARKETS PRODINEX GAMES PAPATEL MASS RED BRAINZ DIGITAL SEGURO TRIPEEZY CONEXRED TECTON DASHBELL MANGO TREE JAQUE MATE TALENT SM B SMART TWNEL SURFERS DIGITAL TUT DOMOTI TEE 60 PRESS STUDIO VOLTIOS START TOGETTHERE ECOPUNTOS WEWINE GROOVESHARK INTERACTIVE CUPMASTER MEDIA GLOBAL LASPARTES BODA CONECSOFT ALL GAME GEELBE FREED LATINA BIZONTE BANTANGA DESIGNERS CELLVOZ GUILD MEDIA EOSCH 12 HIT COMBO! UNDERTAIL KOBOLTS AIDA PRECISE TUTORYA DATA ENGAGEMENT NUEVAGENDA IRIS MEDIA CRM SUPERIOR LAB PICAPALA IMPACTO BRAIN RASS NETBANGERS WINNER GIFTCODE YIMUP PRIME CELL GASONET NETHUB GAF IMPACTA INTERNATIONAL ONSWIPE PRODUCCION CONSULTORES PULSOSOCIAL APARTE 29 Through participation in global media, events, and prestigious awards programs, Endeavor and its entrepreneurs help to spread the word about high-impact entrepreneurship and its power to transform economies.

IN OCTOBER 2014, IN AN ECONOMIST report A WORLD ECONOMIC BOTH CNBC AND BBC Endeavor Co-Founder on the three largest FORUM report on high- profiled Marcos Galperin, & CEO Linda Rottenberg internet companies in 50 impact entrepreneurs the co-founder and CEO released Crazy is a countries, six Endeavor highlights Endeavor’s of MercadoLibre. Compliment, her first companies were included: role in scaling compa- book. The New York nies as well as Endeavor Times bestseller was Bunny Inc. research. featured in USA Today, no. 2 in Colombia CNBC’s SquawkBox, MSNBC’s Your Business, ClanDescuento and Bloomberg’s TV no. 3 in Chile Surveillance. MercadoLibre no. 1 in Argentina Endeavor: Miami Heats Up by William A. Sahlman, Ramana Nanda, David Lane and Lisa Mazzanti Pagosonline CASE 814-043

It iscium aliqui volecae. Sunt, consendero te nusa porum untur, quatiat ionserferio explit, ut alic te praeptate quam ipsum ea sandit accumet ut aut ut faccaest voluptatent lique volest, no. 3 in Colombia totatemque est, aut ommolo consenihit perum doluptat minctur? Accupta tiberio et dendanda dolestem rem quam veles vel id et hitaturio mo moluptae. Dit excea dolumquo debis doluptam desedite minum apidel in pedipis porrunt, sitatius est ut ut offictaquod moluptam solupta sinul- lum hicia solupta ectiis debisim verum rehendam que omnihil es que velicipsunt. Alias eum volestium fuga. Onectendam rem labor minctota et atius. Yemeksepeti no. 3 in Turkey IN 2014, Endeavor Insight HARVARD BUSINESS research was featured SCHOOL published its Yola by major publications third case study on no. 2 in South Africa including TechCrunch, Endeavor. The case Inc., Atlantic Cities and focused on the launch Harvard Business Review. of Endeavor Miami, the Research from Endeavor organization’s first affili- Greece on the country’s ate in the United States. entrepreneurship and investment opportunities was also mentioned in The New York Times.

30 ENDEAVOR IMPACT REPORT 2013–14 Other Ways to Give

Seasoned Endeavor Entre- preneurs are also expected Endeavor is an organization of, by, and for to give back by mentoring entrepreneurs. Endeavor Entrepreneurs pay their fellow Endeavor Entre- preneurs, speaking at the organization an annual service fee entrepreneurship events, and, in the event of an acquisition, are asked or angel investing in new to donate 2% of their personal equity back ventures. to the organization. In 2014, Endeavor BUILDING NETWORKS BY Entrepreneurs donated $4m to Endeavor. GIVING BACK

Guibert Englebienne, an Two other Endeavor Endeavor Entrepreneur Entrepreneurs, Norberto and the Co-Founder & Loizeau (Promored) and CTO of Globant, became Rodolfo Montes de Oca Chairman of Endeavor (Zott Producciones), also Argentina. (See p. 5 to joined Argentina’s board. learn more.)

When Amr Shady, the this trip, Amr decided to founder of Egypt’s formally participate in T.A. Telecom, traveled Endeavor South Africa’s to Johannesburg to give-back program in facilitate his company’s addition to serving as expansion to South a board member of the Africa, Endeavor ZA organization in Egypt. arranged a series of Endeavor South Africa is meetings for him with in the process of building Endeavor Entrepreneurs a ZA-based advisory and mentors. Following board for T.A. Telecom.

To reach Endeavor’s goal of long-term sustainability, the organization created Endeavor Catalyst, Inc., a 501(c)(3) charitable organization (“Endeavor Catalyst”), an innovative co-investment vehicle that invests alongside qualified, lead investors in Endeavor Entrepreneurs through a rules-based process.

Investment Criteria Financing

Endeavor Catalyst invests in Endeavor Entrepreneurs who have gone through the rigorous selection process (<3% pass round led by a “qualified equity investor” rate) and follows rules-based investment criteria: with participation from Endeavor Catalyst

Raising $5m or more in a single round of equity financing

Led by a “qualified equity investor”

Endeavor Catalyst’s participation is up to 10% of the financing round ENDEAVOR ENTREPRENEUR COMPANY

Distributions

Over time, returns are achieved on invested capital in an individual Endeavor Entrepreneur Company, while simultaneously driving Endeavor Global’s sustainability efforts.

32 ENDEAVOR IMPACT REPORT 2013–14 Investments in Endeavor Entrepreneurs fuel the growth of high-impact companies, creating new jobs, revenues, and economic growth in the places that need them the most.

Investments to Date:

01 . 2012 03 . 2012 05 . 2012 09 . 2012 Software development The “WebMD” of Brazil Home wireless solutions Online food delivery (Argentina) and networks (Turkey) (Turkey) Globant has since gone Read more about public. See p. 5. Yemeksepeti’s outsized impact on p. 7.

12 . 2012 01 . 2013 07. 2013 08 . 2013 Tuna processing Online gaming (Turkey) Online and mobile Online fashion and company (Mexico) Peak Games is now restaurant reservations accessories e-commerce among the top six gaming (Argentina) (Turkey) companies globally. Learn more on p. 7.

08 . 2013 01 . 2014 01 . 2014 06 . 2014 Online insurance Advertising and Healthcare IT and software and financial products marketing (Argentina) (Brazil) (Argentina) brokerage (Chile) GOIntegro recently expanded. See p. 40.

07 . 2014 08 . 2014 09 . 2014 10 . 2014 E-commerce (Brazil) Bitcoin company Software company Software company Bebê Store recently (United States) (Uruguay) (Argentina) acquired its rival. Read about it on p. 41.

33 THE ENDEAVOR MODEL 34 What are Scale-Ups?

Scale-ups are companies that are more than three years old and have a minimum of 20% average annual employment growth. Scale-ups address the challenge of unemployment by driving innovation, strengthening value chains, and paving the way for long-term expansion. Endeavor believes that by providing a blend of support services to Endeavor Entrepreneurs, it can help to further accelerate scale-ups and transform economies through high-impact entrepreneurship.

Scale-Ups’ Outsized Impact on Jobs:

Endeavor Insight looked Brazil at nine countries in 20% which Endeavor operates 47% and found that scale-ups represent 5–20% of Colombia companies yet create 8% 30–75% of new jobs. 45%

% of companies Jordan that are scale-ups 9% % of new jobs that are created by scale-ups 53% Lebanon 12% 51%

Mexico 6% 30%

Peru 13% 32%

Philippines 5% 75%

Turkey 10% 41%

Uruguay 6% 55%

35 IMPACT AND RESULTS Endeavor and its high-impact entrepreneurs enable significant and lasting impact by building five types of capital.

Financial Capital in revenues generated by Endeavor compounded average growth rate Entrepreneurs in 2013 in first two years post-engagement with Endeavor

Human Capital entrepreneurs have received high-impact entrepreneurs professional feedback since 1997 selected from 629 companies

Social Capital hours of counsel provided by Endeavor Global Mentoring sessions between mentors in 2013–2014 Endeavor Entrepreneurs and Endeavor mentors in 2013–2014

Intellectual Capital Endeavor companies invested in of Endeavor Entrepreneurs promote R&D in 2013 entrepreneurship as speakers, mentors, or investors

Cultural Capital followers of Endeavor attendees of Endeavor events Twitter feeds in 2013–2014

36 ENDEAVOR IMPACT REPORT 2013–14 in debt & equity capital raised by Endeavor Entrepreneur compa- Endeavor companies have been Endeavor Entrepreneurs in 2013 nies would have qualified for acquired since 1997 the Inc. 500 list of fastest-growing US companies since 1997

jobs created by Endeavor Endeavor Entrepreneurs have people employed, on average, companies started another company by Endeavor companies post-selection

Endeavor Entrepreneur advisory connections between entrepreneurs business leaders mentor Endeavor board meetings in 2013–2014 and investors coordinated by the Entrepreneurs Investor Network in 2013–2014

entrepreneurs and experts patents or patents pending filed projects for Endeavor interviewed for Endeavor Insight by Endeavor companies since 1997 Entrepreneur companies com- research in 2013 pleted by MBA students and EY Vantage Advisors in 2013–2014

entrepreneurship and business media mentions of Endeavor partnerships with universities awards received by Endeavor in 2013–2014 across Endeavor offices Entrepreneurs since 1997

37 IMPACT AND RESULTS NETWORK IMPACT Endeavor brings together a network of entrepreneurs, mentors, and business leaders united in their commitment to entrepreneur- GLOBAL SUPPORT OFFICE San Francisco driven economic growth.

38 ENDEAVOR IMPACT REPORT 2013–14 GLOBAL SUPPORT OFFICE New York GLOBAL SUPPORT OFFICE San Francisco

MIAMI MEXICO CITY

BOGOTÁ

LIMA

SÃO PAULO

SANTIAGO

MONTEVIDEO BUENOS AIRES

39 ENDEAVOR IMPACT REPORT 2013–14 MADRID

ATHENS ISTANBUL

BEIRUT CAIRO AMMAN

DUBAI CASABLANCA

RIYADH

JOHANNESBURG

40 THE ENDEAVOR MODEL DUBAI

MANILA

KUALA LUMPUR

GLOBAL SUPPORT OFFICE Singapore

JAKARTA

41 THE ENDEAVOR MODEL 38 MANILA

LIMA MADRID

ENDEAVOR ANNOUNCED the launch of THE LAUNCH of Endeavor Philippines IN 2014, Endeavor launched its second an office in Lima, Peru—its seventh marks the organization’s third affiliate European affiliate in Madrid, Spain. affiliate in Latin America—in April 2014. in Southeast Asia. The Filipino economy Though recent reports suggest moder- The organization’s arrival comes at is booming—GDP growth has been ate improvement in the economy, Spain an opportune time for the country’s 7% in each of the past two years, and continues to suffer from the after- economy: According to World Bank data, the Philippine stock exchange was the effects of the 2008 global financial in the past decade, Peru has tripled world’s third best performing stock crisis, which resulted in unemployment its GDP, with 6% average annual growth, exchange in 2012. The population’s high climbing from 8% (2007) to 25% and has dramatically reduced the pov- rate of English literacy has also made (2012) and minimal to negative GDP erty rate (from 59% to 24%). the country a regional leader in business growth year over year from 2008–2013. With the support of Endeavor, high- process outsourcing and call center As an increasing number of young impact entrepreneurs can take advan- operations. However, of the Philippines’ people enters the workforce with few tage of these lucrative conditions— 830,000 business enterprises, 99.6% traditional job prospects, the rate of boosted by government-led reforms and are classified as micro-businesses or entrepreneurship has slightly risen; an a rise in market-friendly policies—to SMEs yet account for less than a third estimated half of Spain’s entrepreneurs build companies and create jobs for of the country’s GDP. Endeavor will iden- are between the ages of 18 and 34. a workforce that is expected to grow by tify high-impact entrepreneurs among Endeavor will provide the most promis- 2.5 million by 2020. Endeavor’s launch these SMEs and help them to grow ing of these Spanish entrepreneurs in Peru was led by some of the country’s their companies into large firms (each with the world-class support they need most prominent entrepreneurs and employing over 250 people). If success- to scale their businesses within Spain, business executives. ful, Endeavor believes the economic regionally, and globally. and employment impact of these scale- ups will be profound. Photos from Wikimedia Commons. Peru: Quado678; Philippines: Mike Gonzalez (TheCoffee); Madrid: Jean-Pierre Dalbéra - Flickr. Dalbéra Madrid: Jean-Pierre (TheCoffee); Gonzalez Mike Philippines: Quado678; Peru: Commons. Wikimedia from Photos

39 NETWORK FOCUS SAVANT Pharm’s cutting-edge lab in Mauro Bono the remote town of El Tío, Cordoba. COMPANY SAVANT

INDUSTRY Pharmaceuticals

YEAR SELECTED 2014

EMPLOYEES AT SELECTION 350+

REVENUE 2013 $48.6m

GIVEN THE LIMITED innovation in Argentina’s pharmaceutical industry, Mauro Bono has the perfect prescrip- tion for his country—SAVANT. SAVANT manufactures and dis- tributes a variety of pharmaceuticals, using innovative manufacturing processes that result in higher margins for pharmacists and more affordable drugs for end consumers. From its remote factory in the 2,500-person town of El Tío in central Argentina, SAVANT produces over 120 million GOING drug tablets annually for 3,730 phar- GLOBAL Endeavor Argentina supports 57 macies in Argentina and exports entrepreneurs from 37 companies. to 16 countries, including Vietnam, Lebanon, and Mozambique. THANKS TO AN Endeavor LENOR, a product testing, PAEZ INCREASED its Endeavor is working with Mauro Brazil contact, Aivo inspection, and certifica- global presence by open- to meet his aggressive expansion established a joint tion business, not only ing new storefronts goals. Demonstrating his commit- venture with a Brazilian launched in Ecuador to sell its trendy, colorful ment to building the ecosystem, company and is also and Peru, but also part- rebranding of a classic Mauro has founded three local chari- expanding to the United nered with an Endeavor Argentine sandal in Spain ties that sponsor entrepreneurial, States, Mexico, and Chile mentor to open and Brazil. business skill-building and innova- Colombia. an office in Antofagasta. tion-focused events in Córdoba. VENTAS PRIVADAS, GOINTEGRO, a corporate BELATRIX SOFTWARE, a leader in online loyalty solutions com- a custom software devel- “flash” sales, acquired pany, expanded to Mexico oper, acquired a Peruvian a Brazilian firm. and Uruguay (see more company. news on GOIntegro RESELLERS in Brazil on p. 33) began selling Vanesa Duran jewelry. OASIS COLLECTIONS, which manages short and NOA (2012) long-term rentals for luxury properties, began listing homes in Miami. CÓRDOBA (2007)

IN ADDITION to raising ROSARIO $10m in a new funding (2008) round, the cyber security ENDEAVOR solutions provider MAIN OFFICE Onapsis launched in Buenos Aires Germany. (1998)

40 ENDEAVOR IMPACT REPORT 2013–14 FOCUS Bruno Balbinot

Endeavor Brazil currently supports 128 COMPANY entrepreneurs leading 72 companies. AMBAR INDUSTRY ENDEAVOR BRAZIL´S BEBESTORE, a leading Industrials online presence hit high online baby goods marks, with two million retailer in Brazil, acquired YEAR SELECTED 2012 unique visitors to its web- its rival, Baby, and suc- site, 150,000+ downloads cessfully raised a $12.3m EMPLOYEES AT SELECTION of its 10+ free e-books, round of financing led 15 and 300,000+ followers by venture capital firms EMPLOYEES 2014 on social networks. Atomico and W7, with par- 80 ticipation from Endeavor AFTER SELLING his busi- Catalyst. The New York FORTALEZA (2014) IN BRAZIL’S construction industry, ness to Agrecco, Wilson Times’ Dealbook profiled the process of electrical installation Poit was nominated the fundraise. is rife with waste and inefficiencies. as the business secretary RECIFE (2011) While running an electrical wire for São Paulo. His goal ENDEAVOR BRAZIL and cable manufacturer, Bruno saw is to simplify the bureau- mentors and entrepre- an opportunity to create a standard- cracy for doing business neurs donated more than ized electrical solution that could in the city. 2,000 hours, giving back cut costs and save time during to the ecosystem through housing construction. Following the ANDRÉ AND LUIS mentoring, media inter advice of an Endeavor mentor, he REZENDE of Prática, views, and speaking sold the manufacturing business a leading domestic food- engagements. to start AMBAR, drawing inspiration production equipment BELO HORIZONTE from the automobile industry to manufacturer, won EY’s (2010) create reliable electrical systems “Entrepreneurs of the designed, produced and installed Year” award in the ENDEAVOR MAIN OFFICE by one company. “Emerging” category. São Paulo (2000) RIO DE JANEIRO AMBAR can complete a 12-house (2005) project with two low-skilled workers CURITIBA (2010) in one week; a construction company would require five highly-skilled workers for the same project. These efficiency gains have led AMBAR to secure major construction

PORTO ALEGRE (2011) contracts, servicing nearly 7,000 houses over two years with another 20,000 under development. With Brazil’s national need for low-income Bruno Balbinot housing estimated at 15 million over the next decade, AMBAR’s innovative model offers a critical opportunity to the industry. The company is currently looking to apply its innovative model to the design of home water systems as well.

41 NETWORK FOCUS Karina von Baer

COMPANY Agrotop ATACAMA: ANTOFAGASTA (2011) INDUSTRY Industrials

YEAR SELECTED

ENDEAVOR MAIN OFFICE 2006 Santiago (1998) EMPLOYEES AT SELECTION 19

EMPLOYEES 2014 180

REVENUE AT SELECTION $3.7m

REVENUE 2013 $99m

HAILING FROM a traditional farming family in southern Chile, Karina PATAGONIA: demonstrates a rare success story PUERTO VARAS (2008) of high-impact entrepreneurship outside of the capital city of Santiago. Her company, Agrotop, processes and markets canola oil. Karina has demonstrated her commitment to building the ecosys- Endeavor Chile supports 126 entrepreneurs tem in one of Chile’s less developed from 77 companies. regions by basing her operations there, stimulating a revival of the IN 2014, Endeavor TO SUPPORT ITS FROM JANUARY 2013– area’s depressed agricultural sector. Chile held its first-ever expansion through- JUNE 2014, almost 275 Most recently, Agrotop was Experiencia Endeavor at out Latin America, articles about Endeavor named a World Economic Forum the Museum of Fine Arts ComparaOnline.com Chile were published in Global Growth Company in Latin in Santiago, Chile. raised $11m in a high-profile publications America and Karina joined Endeavor Attended by over 1,000 Series B investment such as El Mercurio. Chile’s Board of Directors for a people, the Experiencia round. Ribbit capital two-year term. consisted of a series led the round. THREE ENDEAVOR of workshops, round- Endeavor Catalyst, COMPANIES— ForexChile, table conversations and Rise Capital, and Woodtech, and Atakama keynote talks that high- Kaszek Ventures Labs—were included on lighted the importance also participated. Best Place to Work’s 2013 of high-impact entrepre- ranking. Alto, founded by neurship and promoted Endeavor Entrepreneur interest in investment and new Endeavor Chile and growth in Chile. Board Member Jorge Nazer, was included in FOR THE FIRST TIME, the 2014 list. the Endeavor Chile network elected two entrepreneurs, Karina von Baer and Jorge Nazer, to serve as Board Members of the organization.

42 ENDEAVOR IMPACT REPORT 2013–14 FOCUS Nicolás Loaiza Galeano & Gigliola Aycardi Batista

COMPANY Bodytech

INDUSTRY Consumer

YEAR SELECTED 2007

EMPLOYEES AT SELECTION 1,000

EMPLOYEES 2014 3,700

Bodytech founders Nicolás Loaiza REVENUE GROWTH SINCE SELECTION Galeano and Gigliola Aycardi Batista 337% in front of the first Bodytech gym, which opened in Bogotá in 1998. WHAT BEGAN as a business plan written for an MBA thesis has become the largest fitness chain in Latin America with 70 locations in Colombia, 48 in Chile, and 15 in Peru, and plans to enter Ecuador, Costa Rica, and Panama. From the start, Gigliola and Nicolás posi- tioned Bodytech as a Medical Sports Center rather than merely a gym. Endeavor Colombia supports 41 entrepreneurs Bodytech’s medical team offers leading 23 companies. personalized health services, edu- cating members on and helping REFINANCIA, which ALEX TORRENEGRA IN 2013, Endeavor them develop and achieve personal purchase loans and offers of Bunny Inc. was fea- Insight released a report health goals. customer service to tured in the Financial entitled “Building Bodytech is the second largest consumers in Colombia Times special report, An Entrepreneurship firm in Endeavor Colombia’s port- and Peru, was acquired “Understanding Entre- Ecosystem in Bogotá’s folio. The company employs 3,700 by Encore Capital Group preneurs.” Alex also Tech Sector” which people and boasts 216,000 members (NASDAQ, ECPG). wrote an op-ed on examined the evolution across its locations. Founders Nicolás Endeavor and Bogotá’s of the tech sector and Gigliola are active members IN 2014, Endeavor tech sector that was in Bogotá. The report of the Endeavor community, serving Colombia held its first published in The was featured in one as mentors and participating in fundraising Gala and Wall Street Journal. of Colombia’s biggest initiatives including an Entrepreneur honored legendary newspapers, El Summit, the eMBA program, and Argentine football player Espectador, and was MIT Sloan G-Lab. Nicolás ran a Jorge Valdano. mentioned in The workshop at last year’s Endeavor Wall Street Journal’s Colombia conference. Gigliola served ANDRÉS ANGULO, Alvaro Accelerators blog. as a panelist at the Dell Women’s Hoffmann and Hugo Conference alongside Endeavor Fernando Nova of Co-Founder & CEO Linda Rottenberg CampoAlto, a leading in June 2014. Both entrepreneurs provider of vocational shared their success stories programs for health care ENDEAVOR MAIN OFFICE during Endeavor Peru’s first-ever and technical profession- Bogotá (2006) board meeting. als, opened an office in Miami that has already launched two programs.

43 NETWORK FOCUS ENDEAVOR MAIN OFFICE Ahmed Farouk Cairo (2008)

COMPANY Imtenan

INDUSTRY Health & Nutrition

YEAR SELECTED 2012

EMPLOYEES AT SELECTION 120

EMPLOYEES 2014 Endeavor Egypt currently supports 30 500 REVENUE AT SELECTION entrepreneurs leading 17 companies. $2.5m

FROM JANUARY–JUNE T.A. TELECOM received REVENUE 2013 2014, Endeavor Egypt support from Endeavor $18m established 13 new South Africa in prep- EE to EE and EE to global aration for its launch IMTENAN MANUFACTURES over 100 mentor connections. there; as a result, founder natural health products—including Amr Shady pledged nutritious foods, honey-based health THE BAKERY SHOP, to participate in their products and all-natural dietary founded by Tarek El give-back program. supplements, which it sells at its 25 Nazer, Sameh El Sadat, retail outlets throughout Egypt. and Basel Mashhour, Ahmed first attended an Inter- in conjunction with HM national Selection Panel in 2009 and Partners Ltd., success- was turned down; panelists advised fully completed the the entrepreneur to reduce the busi- management buyout of ness’ dependence on honey products Delicious Bakery and and revamp its branding. Ahmed Rihanna for Advanced implemented the feedback, helping Food Industries. The him double average revenue per store newly-merged company from 2009–2011. When he returned will be known as Native to an “ISP” in 2012, Ahmed was select- Markets Ltd. and is ed as an Endeavor Entrepreneur. the leading retail bakery Since that time, Ahmed has business in Egypt. attended both the Stanford Graduate School of Business Leadership and Harvard Business School’s Endeavor: Scaling Entrepreneurial Ventures courses. In 2014, Imtenan Health Shop and Imtenan Honey merged to create an international brand: Imtenan Group. 44 ENDEAVOR IMPACT REPORT 2013–14 FOCUS Panos Paleologos

Endeavor Greece supports 14 entrepreneurs COMPANY from 9 companies. HotelBrain INDUSTRY ENDEAVOR GREECE’S KERSTIN TRIKALITIS, the Tourism infographic, “The Greek Co-Founder of Out There Startup Scene at a Glance,” Media, was selected YEAR SELECTED 2013 was mentioned or fea- to serve on the jury of tured in The Wall Street the Mobile category REVENUE GROWTH SINCE SELECTION Journal, The New York of Cannes Lion Festival, 20% Times, Bloomberg.com, a premiere awards event and Al Jazeera News. for the creative com- MOST OF GREECE’S hotels are still It also generated 70+ munications industry. managed by family owners who mentions in Greek media. lack professional industry experi- SEVEN ENDEAVOR ence. Panos Paleologos founded GREECE ENTREPRENEURS HotelBrain, a management firm that were included in provides consulting services to Fortune Greece’s “40 luxury and boutique hotels, to help under 40” list. challenged owners close operational gaps, improve guests’ experiences, and increase overall revenues. In the first six months after selection by Endeavor, HotelBrain significantly increased the number of properties under management and now manages almost 100 hotels. Endeavor Greece is working with Panos to refine his ambitious strategy for expanding throughout Europe, the Middle East, and Latin America. In fact, to facilitate HotelBrain’s entry into the Turkish market, Endeavor Turkey arranged meetings in Istanbul between ENDEAVOR Panos and key stakeholders in MAIN OFFICE the local hospitality sector. Athens (2012)

45 NETWORK FOCUS Aldi Haryopratomo

Endeavor Indonesia supports 10 entrepreneurs COMPANY from 10 companies. RUMA INDUSTRY IN FEBRUARY 2014, BUILDING ON Kebab Turki ELANG GUMILANG Consumer Endeavor Indonesia held Baba Rafi’s international launched seven addi- four events in three days: presence in Malaysia tional affordable housing YEAR SELECTED 2012 the Scale-Up 101 Confer- and the Philippines, estates this year and ence, the 52nd Jakarta Hendy Setiono opened has 16 more projects EMPLOYMENT GROWTH SINCE International Selection storefronts in China in the pipeline for 2014. SELECTION Panel, an Endeavor and Sri Lanka, followed The company acquired 11,461% Investor Network Tour, by Brunei, Singapore and one of the land ownings REVENUE GROWTH SINCE SELECTION and the Endeavor the Netherlands towards in Bogor from Sedco 919% Indonesia Gala. the end of 2014. With Holding Capital, a leading approximately 1,300 private wealth manage- THOUGH INDONESIA boasts mobile 100% OF ENDEAVOR outlets, Kebab Turki Baba ment organization based penetration of roughly 75%, INDONESIA Entrepre- Rafi is now the world’s in Jeddah. the country’s rural communities face neurs participate in the largest kebab chain. higher per minute costs for mobile Give-Back program. usage due to unreliable distribution infrastructure. Setting out to address this problem, Aldi Haryopratomo founded Ruma in 2009. The company’s 20,000 agents buy and sell prepaid minutes for mobile phones, deliver and collect bills and loans, and distribute useful information such as job vacancies in the country’s underserved communities. Aldi founded his first venture as a child, when he refurbished and resold rejected sneakers from his hometown’s Nike factory. He used the profits to apply to American ENDEAVOR MAIN OFFICE universities, ultimately attending Jakarta (2012) Purdue and Harvard Business School and working for EY, Kiva, and Boston Consulting Group before founding Ruma. Since selection by Endeavor, Aldi has served as an enthusiastic spokesperson for the organization. He has leveraged Endeavor Indonesia’s network and research capabilities to sell information services to consumer goods companies like Danone and Nestlé.

46 ENDEAVOR IMPACT REPORT 2013–14 FOCUS Omar Tabbaa Omar Tabbaa

COMPANY EAT Restaurant Group

INDUSTRY Consumer

YEAR SELECTED 2013

EMPLOYEES 2014 370

REVENUE 2103 $8.5m

EAT RESTAURANT GROUP runs four distinctly-themed restaurant brands in 12 locations across Jordan, Bahrain and Palestine. The family- focused EAT restaurants serve Italian and modern Arab cuisine in thought- fully decorated environments. EAT was founded by Omar Tabba’s two brothers and their partners while Omar was pursuing a degree at the University of Arizona, and, later, the French Culinary Institute of New York. When Omar returned to Jordan in 2004, he became CEO and Endeavor Jordan supports 20 entrepreneurs has driven the company’s aggressive leading 14 companies. expansion ever since. In the context of MENA’s lucrative FORBES NAMED ENDEAVOR JORDAN restaurant market, which is expected Ala’ Alsallal, founder hosted the second annual to grow 500% by 2020, Omar plans to of the online bookstore ‘DealMakers’ Weekend,’ open 26 new restaurants in eight Jamalon, one of the previously known as countries over the next three years. “Three Entrepreneurs ‘Invest in ICT.’ Over 100 Omar was named a finalist for Capitalizing on the entrepreneurs and the EY Entrepreneur of the Year World’s Fastest-Growing investors from Jordan Award in 2013. e-Commerce Market.” and around the world participated in the two- ENDEAVOR JORDAN day event, which brought hosted a Mentor together investors and Exchange event for its companies operating network in summer in the ICT & ICT-enabled 2014. The event’s primary services sectors to

objective was to explain explore MENA invest- ENDEAVOR MAIN OFFICE Endeavor’s “high- ment opportunities Amman (2008) impact” model to its in a networking, capacity mentor network, and to building, and collabora- demonstrate the mul- tive setting. tiple ways mentors can further Endeavor Jordan’s mission.

47 NETWORK FOCUS Elie Habib & Eddy Maroun

Endeavor Lebanon currently supports 19 high- COMPANY impact entrepreneurs from 15 companies. Anghami INDUSTRY IN THE LARGEST digital IN PREPARATION for her Technology media exit in the region expansion to the United to date, French publish- States, Taline Assi YEAR SELECTED 2013 ing company Webedia (Mosaic Marble) spoke acquired a majority with Endeavor Mexico EMPLOYMENT GROWTH, 2013–2014 share in Diwanee, a web Entrepreneur Ezequiel 172% platform that publishes Farca about pene- REVENUE GROWTH SINCE women’s lifestyle content. trating the US market. ENGAGEMENT Mosaic Marble was 340% ENDEAVOR LEBANON also recently honored held its first Gala in by the Preservation ENTREPRENEURS ELIE HABIB AND Beirut. Showcasing the League of New York for EDDY MAROUN were inspired success of Endeavor’s the company’s work by the buzz around Spotify at the network, the event gath- in restoring the landmark 2011 Mobile World Congress. Soon ered over 450 business Williamsburg Savings thereafter they began developing leaders, entrepreneurs, Bank in Brooklyn, NY. a prototype that would become and decision makers. Anghami, a music streaming mobile GREEN STUDIOS, a com- application that offers consumers NADA DEBS’ Beirut pany that designs the opportunity to listen to a wide apartment—decorated and builds green walls variety of Arabic and English tracks with furniture from and roofs, recently from the convenience of a mobile her award-winning line— opened a sister company phone. Anghami’s music library was profiled in The Wall in Egypt, won a large- features licensed content from lead- Street Journal. scale project in Kuwait, ing Arabic labels, as well as from and is planning to soon major international labels including launch in the United Sony, Warner, and Universal. Arab Emirates. Since being selected by Endeavor at a 2013 International Selection Panel in Palo Alto, the entrepreneurs have made significant strides: The ENDEAVOR MAIN OFFICE company raised almost $2m from Beirut (2011) a regional strategic investor, signed an agreement with a music aggrega- tor that will increase the number of tracks available from 4m to 10m, and launched an industry-disrupting “bundle” combining music and 3G data at a minimal monthly fee of $1. Elie and Eddy were selected among Lebanon’s Top 20 Entrepreneurs by Executive magazine for the second consecutive year.

48 ENDEAVOR IMPACT REPORT 2013–14 FOCUS Hakim Karim

COMPANY GridMarkets

INDUSTRY Technology

ENDEAVOR MAIN OFFICE YEAR SELECTED Kuala Lumpur (2013) 2014

LAUNCHED 2013

EMPLOYMENT GROWTH, JULY 2013–JULY 2014 100%

GRIDMARKETS’ GROUNDBREAKING business model matches enterprises that maintain in-house data centers—most of which use less than 5% of their server capacity—with firms that have variable or project- based processing needs; the former is able to recoup costs associated with operating idle servers, while the latter can purchase server capacity on a pay-per-use base. Though new to the Malaysian tech scene, GridMarkets is quickly Endeavor Malaysia currently supports accruing clients and earning praise four entrepreneurs leading two companies. for its founder, Hakim Karim, a former banker and consultant who ENDEAVOR MALAYSIA capitalists discussed the JURIS TECHNOLOGIES, left the corporate world in 2011 after co-hosted a networking role networks have the second company 20 years at Accenture, Goldman event with MaGIC, an played in advancing selected by Endeavor Sachs, and Thomson Reuters. In innovation lab recently their businesses. Malaysia, produces 2013, GridMarkets was listed as one launched by the Origination, Collection of the top 10 most promising start- Malaysian government. and Scoring software that ups at Echelon, Asia Pacific’s leading E-commerce entre- is used by 55% of com- start-up conference, and, in 2014, preneurs and venture mercial banks in Malaysia. Digital News Asia named Hakim one of the top 50 people helping to shape Malaysia’s digital economy. Hakim’s selection by Endeavor was covered by The Edge, a major Malaysian business publication. Endeavor has helped Hakim navigate fundraising challenges, as well as refine his sales strategy for enterprises.

FIRST ENDEAVOR COMPANY IN MALAYSIA

Hakim Karim

49 NETWORK FOCUS Andrés Rodríguez, Silvanna BAJA CALIFORNIA Valencia & Juan Vera (2007) NUEVO LEÓN COMPANY (2008) BlueMessaging

SINALOA (2010) INDUSTRY QUERÉTARO (2014) Technology GUANAJUATO (2013) YEAR SELECTED AGUASCALIENTES QUINTANA ROO (2008) 2012 (2012) EMPLOYEES AT SELECTION 20 JALISCO (2008) PUEBLA EMPLOYEES 2014 (2007) 49 YUCATÁN (2009) REVENUE AT SELECTION $760k ENDEAVOR REVENUE 2013 MAIN OFFICE Mexico City CHIAPAS $3.2m (2008) (2002) CHILDHOOD FRIENDS Andrés and Juan’s first venture was a Customer Relationship Management company that ultimately failed. Andrés and Juan applied the lessons they learned from failure and launched a second company, BlueMessaging. They brought on Silvanna, an opera- Endeavor Mexico supports 103 entrepreneurs tions expert with finance experience, leading 62 companies. to round out the management team. BlueMessaging’s mission is to TATIANA BILBAO, founder JAVIER LOZANO, ENDEAVOR MEXICO kicked connect brands with consumers in a of her eponymous design co-founder of Clinicas off its Endeavor Tech friendly, easy way through its intelli- firm, was profiled in T del Azucar, and Patrick Track program, which gent engagement platform based on Magazine, The New York Struebi, founder of searches for and detects artificial intelligence technologies. Times’ style publication. Fairtrasa, were named early-stage tech com- Its patented product, AdChat, takes Social Entrepreneurs panies and encourages advantage of web, social media, and THE WORLD ECONOMIC of the Year by the their founders to prepare mobile platforms as chat channels, FORUM named Intellego Schwab Foundation. for the Endeavor selec- allowing one-on-one dialogues a 2014 Latin American tion process. with consumers. Global Growth Company. ENDEAVOR MEXICO and Endeavor has connected Andrés, This list highlights the six Endeavor Entrepreneur Juan & Silvanna to Y&R’s Spark Plug region’s most innovative companies were listed Program, which helped facilitate and high-impact compa- on Best Place to Work’s their expansion to the US and open a nies, with growth rates ranking of the best com- new distribution channel. In addition, above industry averages. panies in Mexico, from the entrepreneurs have attended 50 – 500 employees. several C-level and tech retreats and have completed over 20 mentorship MEXICO’S NARANYA LABS meetings arranged by Endeavor. partnered with NXTP Labs to form a new Latin America-focused seed fund.

50 ENDEAVOR IMPACT REPORT 2013–14 FOCUS Roger Duarte & Sam Gorenstein Endeavor Miami supports seven entrepreneurs from four companies. COMPANY My Ceviche IN ITS FIRST YEAR JESUS RODRIGUEZ, IN 2014, Endeavor Miami INDUSTRY of operation, Endeavor co-founder and CEO formed an Advisory Board Consumer Miami screened over of KidoZen, an enterprise for one portfolio company 120 companies and sent mobile-first platform and initiated fundraising YEAR SELECTED four to International as a service redefining preparations for another. 2013 Selection Panels, where the future of enterprise The team also facilitated EMPLOYEES AT SELECTION all four were selected as mobile solutions, has one-on-one mentor 42 Endeavor Entrepreneurs. been recognized as sessions and coordinated an innovator in the areas entrepreneur-to-entre- EMPLOYEES 2014 THE WALL STREET of enterprise software preneur connections for 80 JOURNAL profiled and solutions, achieving Endeavor network mem- Endeavor Miami’s work important awards like the bers from other markets. SAM AND ROGER, natives of Colombia with local entrepreneurs Inc 500 and the Stevie Additionally, an Endeavor and Mexico respectively, saw the in an article exploring Awards for American and Global mentor joined potential for a high-quality sea- the city’s rapidly growing International Business. the Advisory Board of an food restaurant that embraces the entrepreneurship eco- Endeavor Miami company. affordability of a fast-casual concept. system, paying particular THE MIAMI HERALD Overall, mentors donated Sam’s culinary background found its attention to the work featured a profile more than 350 hours in the complement in business-savvy Roger of Endeavor Miami Board of Leapfactor in which first year of operations. and—after “dating” each other to Member and mentor, L’Oreal, one of the assess their compatibility as busi- Andres Moreno, and company’s clients, ness partners—the duo opened their Endeavor Entrepreneur highlighted the benefits first South Beach location in 2012. Jesus Rodriguez, of using its business The company has been profitable founder of KidoZen. applications. since day one and the first location repaid the entrepreneurs’ initial investment within nine weeks. Three months later, demand began out- ENDEAVOR pacing the restaurant’s capacity MAIN OFFICE and Sam and Roger opened a third Miami (2013) location. The entrepreneurs plan to open two more locations including a coveted spot at Miami International Airport. Endeavor is helping the restaurateurs pursue their aggressive growth ambitions. Both entrepreneurs were recognized on Forbes’ “30 Under 30” list, proving they have become role models for Miami’s burgeoning entrepreneurship ecosystem.

Roger Duarte and Sam Gorenstein Carl Juste, Miami Herald Juste, Carl

51 NETWORK FOCUS Yousseff Chaqor YoussefName Chaqor

COMPANY Kilimanjaro Environnement

INDUSTRY Renewable Energy

YEAR SELECTED 2013

EMPLOYEES AT SELECTION 48

EMPLOYEES 2014 67

REVENUE 3013 $5.3m

WHEN YOUSSEF CHAQOR reached the summit of Kilimanjaro with his wife, he realized that he wanted to have a lasting and positive impact on the environment and society. Yousef developed a process for collecting used cooking oils (UCOs) and fatty acids from restaurants and hotels, and reselling them to biodiesel manufacturers. He quickly turned the process into a lucrative Endeavor Morocco currently supports and sustainable business that promotes waste disposal, reduces two entrepreneurs leading two companies. pressure on food production, and abates CO2 emissions by up to 78%. YOUSSEF CHAQOR SERVING AROUND IN THE PAST YEAR, Mr. Nominated to All World Arabia’s was nominated as one two million consumers Mohamed Elmandjra, “500 fastest-growing companies of the most promising per month, M2T enables Vice-Chairman of in the MENA region” in both 2012 and leaders of Morocco people without bank Endeavor Morocco, has 2013, Kilimanjaro has expanded its by the awards program accounts to transfer donated over 70 hours to collection network to 2,000+ estab- “Espoir Tizi 2014.” money, pay bills, and Endeavor Morocco to lishments, including Burger King, purchase mobile minutes meet, select and mentor Accor Hotels, KFC, and McDonald’s. IN ITS FIRST YEAR and transportation candidates, offer guid- In 2014, the company started pro- in operation, Endeavor tickets all from one con- ance to the team and ducing biodiesel in-house. Morocco built strong venient location. The advocate for the organi- Since his selection by Endeavor, partnerships with key platform is accessible zation in Morocco. Youssef has received an EY Advisor actors in the country’s from POS, phone, or through the EY Vantage program entrepreneurial eco- computer through 2,600 and worked with a Bain & Company system, raised aware- points of service. M2T ENDEAVOR extern for three months. Youssef ness around high-impact leads Morocco’s bill MAIN OFFICE also attended the Endeavor- entrepreneurship and payment market and has Casablanca Harvard Business School Scaling built an extensive pipe- already expanded (2013) Entrepreneurial Ventures pro- line of high-potential operations to Senegal gram. He is currently working companies. and France. with Endeavor on building both a capital-raising strategy and THE LAUNCH OF Endeavor an advisory board. Morocco and the selection of its first two high- impact entrepreneurs received wide coverage in the press, with 24 articles published in 17 different publications. © Studio Lorenzo Salemi Lorenzo © Studio

52 ENDEAVOR IMPACT REPORT 2013–14 FOCUS Amr Al-Madani & Saeed Saeed

COMPANY TalentS

INDUSTRY Professional Services / Education & Management

ENDEAVOR YEAR SELECTED MAIN OFFICE 2013 Riyadh (2012) EMPLOYEES AT SELECTION 100

EMPLOYEES 2014 142

REVENUE GROWTH SINCE SELECTION 48%

AFTER AMR AL-MADANI and Saeed Saeed grew frustrated with hands- on education in Saudi Arabia, where only 3% of students perform to international math standards, they founded TalentS to improve the quality of STEM (science, engineering, and math education) throughout the country. In conjunction with Endeavor KSA currently supports premier global educational institu- tions, TalentS develops and provides 11 entrepreneurs from 8 companies. hands-on, creative and engaging methods for teaching science, THE FOUNDERS ENDEAVOR KSA LOAI NASEEM, the found- engineering, and math. These meth- of four Endeavor KSA selected 11 high-impact er of Lomar, launched ods include robotics competitions, companies—Lomar, entrepreneurs out of 28 a new line for women with traveling exhibits, and science fairs. TalentS, Shawarmer, and screened and provided support from Endeavor Building on their success, the LSS—were included in 140+ mentoring hours to and an EY Vantage entrepreneurs have begun applying Forbes Middle East rank- candidates and selected Advisor. He also pub- their expertise to managing STEM ing, “Leaders Inspir- entrepreneurs. lished his first book. museums, designing exhibits, ing a Kingdom in the organizing corporate social respon- Middle East.” NAIF ALQAHTANI sibility programs for large multina- of LSS signed a US$20 tional companies. DAVE MCCLURE, the million contract with TalentS has received the back- founder of 500 Startups, Schlumberger, the ing of large corporations, public- joined the board of world’s largest oilfield foundations, and private schools. OTS. Dave met Ahmed services company. Co-Founder Amr Al-Madani and Hassan Hamdan, was a panelist at the 2014 Global the company’s founders, Competitive Forum, where he at an Endeavor Inter- discussed Endeavor’s role in sup- national Selection Panel porting his company’s growth. in Johannesburg.

53 NETWORK FOCUS Wilter du Toit

ENDEAVOR MAIN OFFICE Johannesburg (2004)

COMPANY Virtual Mobile Technologies

INDUSTRY IT

CAPE TOWN (2011) YEAR SELECTED 2007

REVENUE GROWTH, 2013–2014 300%

WILTER JOINED Endeavor with his first venture, Yeigo Communications, an innovative mobile Voice over Internet Protocol (VoIP) provider. Endeavor South Africa supports 23 entrepreneurs In 2008, after a majority stake of leading 16 companies. Yeigo was acquired, he left the company to launch his second venture. CARLO GONZAGA, ENDEAVOR ARRANGED for Virtual Mobile Technologies the founder of the res- five MBA students from (VMT) is a platform technology com- taurant conglomerate Georgetown University’s pany that allows large enterprises Taste Holdings, hosted McDonough School of to rapidly create and deliver any Abdulmohsin Al- Business to work with Rob mobile application to both internal Rabiah, the founder of Dennison and members staff as well as external customers Shawarmer, a Saudi of his team at Trainiac. across all the various mobile tech- restaurant chain. The students analyzed the nologies, specifically native applica- merits of extending tions (e.g. iOS, Android, BlackBerry, PAYMENT GIANT First Trainiac’s offering from Windows Phone 7, Java etc.) Data, acquired Gyft, bespoke to “off the In August 2013, Wilter partici- the virtual gift card pro- shelf” solutions. pated in an Endeavor Global vider launched by serial Acceleration Panel. Six panelists entrepreneur Vinny AS PART OF a competition reviewed his business’s performance Lingham. The news was celebrating youth entre- since selection by Endeavor and covered by The New York preneurial excellence offered suggestions on how to struc- Times’ DealBook. Vinny and innovation, Bevan ture BlastCast, VMT’s latest product. was also selected to be Ducasse, the founder BlastCast is a simple-to-use a “Dragon” on South of WiGroup Proprietary, business communications tool that Africa’s installment of received the Maverick allows companies to send thousands “Dragon’s Den.” of the Year award. of instant messages to their customers and employees and immedi- ately get insight into delivery, views and responses.

54 ENDEAVOR IMPACT REPORT 2013–14 FOCUS Ömer Paksoy & Onur Tekinturhan

ENDEAVOR COMPANY MAIN OFFICE Hesapkurdu Istanbul(2007) INDUSTRY Business/Professional Services

YEAR SELECTED 2013

REVENUE GROWTH, 2012–2013 220%

FOUNDED IN 2010 by Onur Tekinturhan and Ömer Paksoy, Hesapkurdu (previously Konutkredisi.com.tr) is a Turkish personal finance advisory platform that provides information on unsecured personal loans, mortgages, and auto loans. Hesapkurdu works with 19 banks and covers approximately 70% of the Turkish retail lending market, generating approximately 200,000 loan applications per month. By compar- ing rates and helping customers throughout the process both online and offline, Hesapkurdu seeks to fill Endeavor Turkey currently supports 47 the gap between banks and Turkish consumers. To date, Hesapkurdu.com entrepreneurs from 28 companies. has helped over one million cus- POZITRON, a mobile soft- FIVE ENDEAVOR tomers and plans to increase this ware developer focused ENTREPRENEURS— number as the nascent Turkish loan on business solutions, Emre Aydın (Çiçeksepeti), market matures. Ömer and Onur was acquired by Monitise, Fatih İşbecer (Pozitron), have become strong role models one of the world’s leading Hakan Baş (Lidyana), and mentors for entrepreneurs in Mobile Money specialists. Sidar Şahin (Peak Games), Turkey’s financial services and and Nevzat Aydın tech sectors. FERIDUN TUNÇER (Yemeksepeti.com)— and Levent Yılmaz of were listed in Fortune Baydöner, a chain of high- Turkey’s “40 under quality Iskender döner 40” list. restaurants, were named EY Entrepreneurs of the Year in Turkey.

55 NETWORK FOCUS Michael Lahyani Michael Lahyani

COMPANY PropertyFinder.ae

INDUSTRY Consumer

YEAR SELECTED 2014

EMPLOYEES 2014 110

REVENUE GROWTH, 2013–2014 100%

PROPERTYFINDER is the UAE’s first digitized real estate catalog. Its free interface allows visitors to browse over 110,000 residential and commercial properties, posted by over 500 real estate agents in UAE, Morocco, Bahrain, Qatar and Egypt. The website boasts a 95% client membership renewal rate, bringing one million monthly visitors and generating over 120,000 leads for real estate agencies and developers. PF won the Arabia Fast Growth 500 award in 2012 and took the Endeavor UAE supports seven entrepreneurs Online Business of the Year title in from four companies. the 2013 Gulf Capital SMEinfo Awards. To expand into Lebanon, PF acquired SINCE ITS LAUNCH RAVI BHUSARI, its competitor, realestate.com.lb. in December 2013, the co-founder of Duplays, Endeavor assembled Michael’s Endeavor UAE office shared his thoughts advisory board, put together a has successfully brought on failure at an entrepre- two-year roadmap for services, and four companies to Inter- neurship event jointly connected him with an EY Vantage national Selection Panels. held by Endeavor UAE, Advisor. Michael was a featured Post-selection, all four Young Arab Leaders, and speaker at Impact Hub’s “Disruptive companies received The Impact Hub Dubai. CEOs” event. advisory boards. PROPERTYFINDER was ENDEAVOR named Arabian Business MAIN OFFICE Start-Up’s “SME of Dubai (2013) the Year.”

56 ENDEAVOR IMPACT REPORT 2013–14 FOCUS Michel Cohen & Silvina Leibenberg Endeavor Uruguay supports 39 entrepreneurs leading 23 companies. COMPANY Lolita — Lu by Lolita CAROLINA BAÑALES MARÍA NOEL ACHE (AIVA) INDUSTRY AND AGUSTINA SARTORI and Silvina Leibenberg Retail were selected as (Lolita) were featured Endeavor Entrepreneurs on CNN en Español for YEAR SELECTED after participating in their work as successful 2002 “Más Emprendedoras,” female entrepreneurs. EMPLOYEES AT SELECTION a three-year Endeavor 170 and MIF/IADB project PEDIDOSYA, an online food EMPLOYEES 2014 that aims to increase delivery platform, was 570 the competitiveness of acquired by DeliveryHero, women-owned busi- a Germany-based nesses in Uruguay. company with a similar LOLITA DESIGNS AND SELLS ladies’ Carolina and Agustina business model. fashion collections. Michel and founded GlamST, an Silvina have transformed this online community that small family business into a global allows women to try on company. In 2001, Lolita started its makeup virtually and original expansion under a franchise share their “looks” with system. Today, Lolita has 85 stores friends and bloggers. in 16 countries. Michel and Silvina recently signed a Master Franchise Agreement with one of the leading retailers in the GCC, launching the company’s Middle East expansion with a storefront in Dubai. Lolita will also open stores in Costa Rica and the Dominican Republic this year, and has signed agreements to run franchises of four European fashion ENDEAVOR MAIN OFFICE retailers in Uruguay. Montevideo (2000) Endeavor has accompanied Lolita throughout its international expansion process. Endeavor connected Michel and Silvina with MBA students from MIT who helped the company define and implement a professional franchise system. They also attended ECLA—a program created by Columbia Business School for entrepreneurs from Latin America. In 2014, Michel and Silvina were selected to participate in EY’s program “Ready, Set, Grow,” which provides entrepreneurs with strategic guidance from top EY advisors.

57 NETWORK 58 ENDEAVOR GLOBAL STATEMENT OF FINANCIAL POSITION EXECUTIVE STAFF December 31, 2013 in U.S. $ Total Linda Rottenberg ASSETS Co‐Founder & CEO Cash and cash equivalents 10,207,024 Contributions receivable 5,193,318 Fernando Fabre 1,051,020 President Grants receivable Investments 7,464,452 Lawrence Brooks Prepaid expenses and other assets 278,015 SVP, Finance & Administration Due from affiliated entities 276,336 Property and equipment (net) 1,139,428 Walt Mayo SVP, Expansion Total Assets 25,609,593

David Wachtel LIABILITIES AND NET ASSETS SVP, Marketing, Communications 425,330 & Partnerships Accounts payable and other accrued liabilities Due to affiliated entities 526,938 Joanna Harries Deferred rent and capital lease obligations 282,531 VP, U.S. & Canada Total Liabilities 1,238,799 Cindy Ko VP, Asia NET ASSETS Bianca Martinelli Unrestricted 19,411,072 VP, Latin America & Southern Europe Temporarily restricted 4,685,351 Permanently restricted 25,000 Allen Taylor Noncontrolling interest in Catalyst ILP 253,371 VP, Investor Network & Endeavor Catalyst Total Liabilities 24,374,794 Daniela Terminel VP, EMEA Total Liabilities and Net Assets 25,609,593

MANAGING DIRECTORS CONSOLIDATED STATEMENT OF ACTIVITIES OF AFFILIATE OFFICES December 31, 2013 in U.S. $

Argentina: Gabriela Macagni temporarily permanently unrestricted restricted restricted Total Brazil: Juliano Seabra SUPPORT AND REVENUE Contributions 1,190,065 3,280,000 4,470,065 Chile: María de los Angeles Romo Grants 3,650,900 348,763 3,999,663 Gala & other fund-raising events 2,400,644 2,400,644 Colombia: Adriana Suárez Program service fees 1,000,000 1,000,000 Egypt: Heba Gamal Net realized & unrealized gains (losses) on investments (152,093) (152,093) Greece: Haris Makryniotis Interest & other income 263,831 263,831 In-kind services & goods 4,177,633 4,177,633 Indonesia: Sati Rasuanto Net assets released from restriction 2,475,315 (2,475,315) Jordan: Rasha Manna Total Revenues 15,006,295 1,153,448 16,159,743

Lebanon: Tarek Sadi EXPENSES Entrepreneur selection & growth 4,213,786 4,213,786 Malaysia: Zaman Ahmad eMBA 336,548 336,548 Mexico: Pilar María Aguilar Endeavor Net 363,071 363,071 Organizational development 1,553,835 1,553,835 Miami: Laura Maydón Insight 1,127,883 1,127,883 New country expansion 2,401,217 2,401,217 Morocco: Amine Hazzaz Partnerships & networks 1,426,716 1,426,716 Peru: Ana Sofia Valdivia Philanthropic networks 563,419 563,419 Total Program Expenses 11,986,475 11,986,475 Philippines: Manuel Ayala

Saudi Arabia: Rakan Al Eidi Cost of direct benefits to donor 305,709 305,709 Fundraising and development 1,840,253 1,840,253 South Africa: Catherine Townshend Management and General 674,210 674,210

Spain: Adrian Garcia‐Aranyos Total Expenses 14,806,647 14,806,647

Turkey: Didem Altop Change in net assets 199,648 1,153,448 1,353,096 Partners’ capital contributions 940,000 940,000 United Arab Emirates: Noor Shawwa Net assets, beginning of year 18,524,795 3,531,903 25,000 22,081,698 Uruguay: Joaquin Morixe Net Assets, end of year 19,664,443 4,685,351 25,000 24,374,794

A complete set of the audited financial statements by McGladrey & Pullen for the fiscal year ending December 31, 2013 can be obtained by sending a written request to Endeavor Global, Inc. at 900 Broadway suite 301, New York, New York 10003, USA.

These financials are for Endeavor Global and its wholly-owned subsidiaries and do not include information about Endeavor’s affiliate offices.

59 FINANCIALS, DONORS, AND BOARD MEMBERS $10,000,000+ Wilson Poit $250,000+ Peter Graber Omidyar Network SAP 3M Emin Hitay, Hitay Yatırım Holding SEBRAE William A. Ackman, $5,000,000+ Pershing Square Foundation HSBC México The Abraaj Group $500,000+ Husodo Angkosubroto, Ali Y. Koç, Koç Holding Gunung Sewu Kencana Bain & Company AFP HABITAT Thomas H. Lee (combination of cash Ann L. Bronfman Foundation & Ann Tenebaum Emilio Azcárraga Jean and in-kind donation) Arab African Lehman Brothers Nicholas Beim EY International Bank Jorge Paulo Lemann BID Pedro Aspe Locaweb $1,000,000+ Wences Casares Banco ABN AMRO Jean-Paul Luksic Gayle & Michael Ahearn José Luis del Río Real S.A. Microsoft Corporation AVINA Dell Computer Banco Santander Rio Morgan Stanley Banco de Chile Barry Diller, IAC/ BHP InterActive Corp. Fadi Nahas Banco Santander Len Blavatnik EY Brasil Francisco De Narvaez Barclays Bloomberg Philanthropies Paul Fribourg Natura Clarissa & Edgar Bradesco Bronfman, Jr. Goldman, Sachs & Co. News Corporation Matthew Brown Citi Foundation Itaú BBA Murat Özyeğin, Fina Holding BTG Pactual Pamela & J. Michael Cline JPMorgan Chase Co. Eduardo Pacheco Elías Cababie CORFO Beth & Michael Klein Pedro Passos Cetus Investimentos Eduardo Elsztain Anne & Vincent Mai Diego Piacentini Citi Fundação Brava Inc Emilio Odebrecht PwC México Corporación Andina Marcos Galperín Jennifer & Jonathan de Fomento (CAF) Rainbow Foundation Oppenheimer Adrian Gore Beatriz Cueto Joanna Rees Proteus Reid Hoffman & Michelle Yee Enrique Cueto Gabriel Rozman, Salvador Said Tokai Consulting Inter‐American Dick & Betsy DeVos Development Bank (BID) Alejandro Santo Domingo Family Foundation SAB Foundation International Finance Sebrae São Paulo Vuslat Doğan Sabancı, Suzan Sabancı Dinçer, Corporation (IFC) Hürriyet Akbank Secretaría de Economía John & James Knight (Mexico) Albert Douer Soledad & Alvaro Saieh Foundation Chip Seelig DRA — Tshikululu Naguib Sawiris George & Bicky Kellner Tony & Carlos Slim Melissa & Timothy Draper Christoph Schiess Peter B. Kellner Woods Staton Andrés Echavarría Simpson Thacher & Bartlett Michael & Susan Dell Lorenzo Zambrano Moulay Hafid Elalamy, Brian Swette Foundation SAHAM Group Özcan Tahincioğlu, Multilateral Investment Jorge Errázuriz Tahincioğlu Holding Fund (MIF/FOMIN) of the Inter‐American First National Bank Marcel Telles Development Bank (IADB) Fleury S.A. Visa do Brasil Fayeeza & Arif Naqvi David Frankel Sven von Appen Pam & Pierre Omidyar Fadi Ghandour Zennström Philanthropies Ltd

60 ENDEAVOR IMPACT REPORT 2013–14 $1,000,000+ Matthew Brown Daniel Echavarría Barry Diller, IAC/ InterActive Corp. Barclays Casa de Gestão Paul Fribourg Vuslat Doğan Sabancı, EY Citi Foundation GBM Hürriyet Omidyar Network CORFO Peter B. Kellner Albert Douer SAP Dell México Hendrick Kolonas, Andrés Echavarría Celebes Artha Ventura Diagnostika Fares Fares $500,000+ Jimmy Masrin, Adrian Gore, Discovery Caturkarsa Megatunggall Karim Farra EY Brasil Moulay Hafid Elalamy, Manuel D. Medina Anthony Fernandes, AirAsia John & James Knight SAHAM Group Foundation Andrés Moreno First National Bank Mohammed Hafiz, Al‐Sawani Group Arif Naqvi Marily Frangista $250,000+ Reid Hoffman & Michelle Yee George Tahija, David Frankel Banco Santander Austindo Nusantara Jaya INADEM General Electric Company HSBC México Sean Wolfington Instituto Rede Fadi Ghandour Inter‐American Itaú BBA Selim Ghorayeb Development Bank/BID $50,000+ Itaú Unibanco Joseph Ghoussoub, JPMorgan Chase Co. Michel Abouchalache Menacom Proteus Emilio Odebrecht William A. Ackman, Goldman Sachs Hossam Y. Radwan, Pershing Square Foundation PwC México Abraaj Group Mareva Grabowski Gayle & Michael Ahearn SEBRAE Faisal Tamer, Tamer Group Majid Iraqui, Muna Al Gurg, Easa Saleh USAID — Morocco Economic TAQA North Africa Mostafa Terrab, OCP Group Al Gurg Group Competitiveness (MEC) HSBC Bank Argentina Elliot Weissbluth Mohamed Alami Lazraq, Alliances Ahmed Galal Ismail & Souheil $100,000+ Zennström Hajjar, Majid Al Futtaim Philanthropies Ltd Svida Alisjahbana, Yousef Al‐Majdouie, Femina Group Badr Jafar, Al‐Majdouie Group Crescent Enterprises Arab African Musaab S Al‐Muhaidib, $75,000+ International Bank Habib Kairouz Al‐Muhaidib Group 3M Banco Galicia Işık Keçeci Aşur, Abdulaziz A. Al Omran, Husodo Angkosubroto, Aragon Capital Khalid & Abdulaziz Gunung Sewu Kencana Banco Modal Al Omran Company Marwan Kheireddine Banco Hipotecario Hicham Berrada, Rami K Alturki, Palmeraie Holding Sami Khouri Alberto & Olga Maria Beeck Alturki Group Family Foundation Avi Bhojani, International Ali Y. Koç, Koç Holding Abdulla M. Al Zamil, Management Ventures Nicholas Beim Theodore M. Kyriakou Zamil Industrial Len Blavatnik Investment Company Beirut Digital District Locaweb Wences Casares Ernest Bachrach Beleza Natural Anne & Vincent Mai Michael D. Chandris Banco de Chile Patrick Chalhoub William E. McGlashan Jr. Mark Chang, JobStreet BHP Alberto Chang‐Rajii Azmi Mikati Pamela & J. Michael Cline BID / FOMIN Dr. (h.c) Ir. Ciputra Ruben Minski & Harun Hajadi, Ciputra Coatue Managment Bradesco MXT Adriana Cisneros John Coustas Clarissa & Edgar National Bank of Greece Bronfman, Jr. DMGT Deloitte & Co. Ebru Özdemir, Limak Holding 61 FINANCIALS, DONORS, AND BOARD MEMBERS Murat Özyeğin, FIBA Holding $10,000+ Edson Bueno Maldonado, Asuan Eduardo Pacheco Accretive Health, Inc. Jonathan Bush Dell Johanna Papadopoulou Sina Afra, Markafoni/ Elías Cababié Daniel Delta Air Lines Inc. Entrepreneurship Dimitri Papalexopoulos Cablevision Systems Antonio Dias Leite Foundation Corporation Raúl Polakof José Luis del Río Agencia Nacional de Juan Pablo Cappello Theodore P. Rachmat, Investigación e Innovación Dirección General de PT Triputra Investido Arya Juan Ignacio Comercio Exterior de la Ahmed Badreldin & Arif Rachmat, PT Triputra Casanueva Pérez Ciudad de Buenos Aires Agro Persada Marcelo Alecrim Daniel Carriquiry e.Ventures Afzal Abdul Rahim, Ali Al‐Husry & Juan Carlos Rodríguez, Eastern Advisors Capital Time dotCom Costa Oriental Allen & Company Group, LLC Nazir Razak, CIMB Group Catho Amadeus Capital eBay Joanna Rees Partners LTD Sergio Cavalieri Eduardo Elsztain Suzan Sabancı Dinçer, Amana Capital Bülent Çelebi, AirTies Jorge Errázuriz Akbank American Express Antonio Celia European Bank Alejandro Santo Domingo Philanthropic Program Andrés Cerisola, Ferrere For Reconstruction Mu’taz Sawwaf American Express Ventures & Development Chedid Capital Mustafa Say, Amit & Vicky Patel Even Rogério Chor Access Turkey İlab Holding Foundation EY Chile Gabriel Colla, Infocorp Costantza Sbokou ANTEL Alejandro Farach Constantakopoulou Juan Collado Amjad Aryan David Feffer Shahril Shamsuddin, Consejo de desarrollo Tarik Awad, SapuraKencana Economico de Tijuana Carlos Fernández González Capital Investments Walter Siouffi, Consejo para el desarrollo Finmex Bain & Company, Inc. Citibank Maghreb ecnonomico de Sinaloa Fly Across Banco de la Provincia Thean Soon Wong, MyEG Agustin Coppel de Buenos Aires Andrés Freire Yiannis N. Stassinopoulos Corporación Andina Banco Industrial Fundación Alsea A.C. de Fomento (CAF) Strategy & BankMed Fundación Bepensa AC (formerly Booz & Co.) Peter Corsell Fabio Barbosa Fundación Bolívar Noor Sweid, ZenYoga Laércio Cosentino Davivienda Waddah Barkawi, Nicolas Szekasy Glenn & Mary Jane Creamer EY Jordan José Galló Özcan Tahincioğlu, Credit Suisse Baydöner Marcos Galperín Tahincioğlu Holding George D. Crowley, Jr. BDMG Pablo Garfinkel, Spyros Theodoropoulos Enrique Cueto Life Cinemas Khaled Bichara Melina Travlou Said Darwazah Herme Gazzola Leon D. Black, Mahmut Ünlü, Ünlü & Co. Apollo Global Management Daversa Partners Gilt Groupe Carlos Andrés Uribe Blackberry Miguel Ángel Dávila Globant Brahmal Vasudevan, Creador Leslie Blodgett Sergio de la Vega, Glencore Gobierno de Puerto Madryn— Nilesh Ved, Apparel Group Provincia de Chubut BNDES Juan Pablo del Valle Mustafa Abdel Wadood, Perochena Valério Gomes Ümit Boyner, The Abraaj Group Boyner Holding Wilson Delara Andrés Gómez Martínez BTG Pactual Álvaro Delbono & Eduardo Carlos Gómez Andonaegui

62 ENDEAVOR IMPACT REPORT 2013–14 Goodwin Procter LLP Leonard & Evelyn Lauder Procter & Gamble Transvaal Electric Motors Foundation Google Argentina PWC — Price Waterhouse Uruguay XXI LEXMARK & Co. Alejandro Gorodisch Valiant Captial Partners Loews Corporation Benjamin Quadros GP Investments Valor Capital Group Haakon Lorentzen Deusmar Queirós Peter Graber Visa Jean‐Paul Luksic Red Innova Jason Green Visa Colombia Lumia Capital Responsibility Social Grupo Mega Sven von Appen Investments Raúl Mandía & Ricardo Grupo Proyecta Ricardo Vontobel Méndez, McDonald’s — Richmond Global Grupo Ultra Arcos Dorados Wayra Argentina Romero Rodrigues Artur Grynbaum Marie‐Josée & Henry R. Guilherme Weege Julia Rodríguez Larreta, & Miguel Krigsner Kravis Foundation El País Selçuk Yorgancioğlu, Nizan Guanaes Diego Masola, Banco The Abraaj Group Gabriel Rozman, Comercial — Group Martin Guerra, in Capital Tokai Consulting Fawaz Zu’bi Scotiabank Gustavo Grobocopatel Ferit F. Şahenk, McKinsey & Company, Inc. Doğuş Holding Sônia Hess Rubens Menin Salvador Said Ihab Hinnawi, Umniah Mercedes‐Benz Argentina Paulo Sales Marianne Hosni Microsoft Carlos Sales Sarrapy Richard Hunt Mimar Invest Alp Saul, Pronet IEL Bernardo Minkow Christoph Schiess iNNpulsa Colombia Alan Mnuchin Robert Schumer Integration Counsulting Monex Chip Seelig Janus Friis Michael Moretti José Carlos Semenzato Fady Jameel, ALJ Motorola José Seripieri, Jr. Isabella & Patricio Jaras, Movistar Nutra Bien Amr Shady Multilateral Investment Tasso Jereissati Stanley Shuman Fund (MIF/FOMIN) of the JHSF Inter‐American Bank (IDB) Carlos Alberto Sicupira Jive Software Natura Simpson Thacher & Bartlett LLP Jonathan M. Nelson Family Natura Cosméticos Foundation Nelson Sirotsky Jorge Nazer, Alto Maher Kaddoura Skoll Foundation Joseph Meyer Nigri KaszeK Ventures Scott Sobel Organizações Globo George & Bicky Kellner Marco Stefanini Pedro Passos Kind Healthy Snacks David Stemerman Carlos Pastor, Jr. KPMG Walid Tahabsem Ariel Pfeffer, Trillonario.com Emre Kurttepeli, Mynet Technisys Diego Piacentini Thomas H. Lee Telefonica Silicon Valley Aurelio Pique, Komatsu & Ann Tenebaum Marcel Telles Polo Ralph Lauren Jorge Paulo Lemann TOTVS Pozitron

63 FINANCIALS, DONORS, AND BOARD MEMBERS Argentina PAEZ Arizona Grupo RPH Star Think Uniforms Francisco Murray Alexandre Hadade Rafael Madke Sergio Bertucci AIVO Tomas Pando Marcus Hadade Milena Bertucci Martin Frascaroli Francisco Piasentini Grupo Trigo (Spoleto) Atmo Digital Mario Chady SuperBAC Asignet Promored (Subway Link) Eduardo Ourivio Luiz Chacon Claudio Lopez Silva Norberto Loizeau Compte Arnold Eugenio Correia Impacto Protensão Tecnoblu Axeso 5 Restorando.com B2 Agencia Joaquim Caracas Cristiano Buerger Christian Schweizer Frank Martin Bujaldon Carlos Balma Edmur Polli Franco Silvetti Ricardo Librach Buckup Integra Medical Belatrix Software Factory Felipe Ribeiro Luciana Guimarães Tecno Logys Alejandro Robbio SAVANT Vanessa Vazquez Valério Paz Dornelles Federico Robbio Mauro Bono Bebê Store Luis Robbio Leonardo Gomilde Simão Lojas KD TecSaúde Segundo Hogar Nelson Fiorin Iliane Alencar Conexia Diego Noriega Beleza Natural Thiago Fiorin Zeev Katz Sebastián Letemendia Rogério Assis Sérgio Lomanchinsky Luis Navas Smowtion Heloísa Helena Assis Magnamed Tecnologica Andres Alterini Jair Conde Toru Miyaji Kinjo Tecsis Congelados del Sur Mariano Elizari Leila Velez Tatsuo Suzuki Bento Koike Adolfo Rouillón Santiago Pinto Wataru Ueda Bencorp TecVerde Dominio del Plata Social Metrix Luis Alexandre Chicani Máquina PR Caio Bonatto Susana Balbo Gustavo Arjones Maristela Mafei Beto Justus Martin Enriquez Britec (Agilis) Lucas Maceno FyO Marco Antonio Ferraz Mastermaq Alejandro Larosa Technisys Luis Noronha Breno Nely Leite Praca ToLife German Pugliese Carlos Alberto Tamm Leonardo Lima de Carvalho Globant Miguel Santos Casa do Construtor Guibert Englebienne Expedito Arena Mextra ToysTalk Martín Migoya Tensocable Altino Cristofoletti, Jr. Ivan Barchese Marco Carvalho Néstor Nocetti Jorge Finkielsztajn Ivan Zorn Martín Umaran Cash Monitor Minha Vida Ultracongelados Marcio Furtado Roberto Lifschitz Uatt? GOIntegro Miquel Angel Lagrutta Wagner Furtado Fernando Ortenblad Rafael Biasotto Germán Dyzenchauz Daniel Wjuniski Ivan Oliveira Gaston Lejtman Vanessa Durán Joyas Clearsale Vanessa Durán Pedro Paulo Chiamulera Movile Welle Laser GoodPeople Bernardo Lustosa Eduardo Bernardes de Gabriel Bottós Daniel Jejcic Ventas‐Privadas Carvalho Rafael Bottós Pablo Orlando Felipe Herrera Confiance Medical Bruno Braga MXT Guia Oleo VN Global BPO Cristiano Brega Gustavo H. Travassos Chile Esteban Brenman Luciano Nicora Guarany Guimarães Fernando Magero Nefrocare ActivaQ Intellignos Wormhole IT Tohoru Watari Ana María Sandino Juan Manuel Damia Sally Buberman Dermage Ignacio Lopez Ilana Braun Neoway Agrotop InvGate Maximiliano Menasches Lisabeth Braun Jaime Leonel de Paula Jr. Karina von Baer Ariel Martin Gesto Walter Braun Zott Producciones Portal Educação Alto Keepcon Patricio Miranda Doce d’ocê Ricardo Ferreira Nantes Jorge Nazer Matías Rozenfarb Rodolfo Montes de Oca Carlos Bazanella Noeli Bazanella Prática Andrés Turski Lenor André Rezende Andrés Turski Brazil Julio Made Ebanx Luiz Eduardo Rezende João Guilherme Del Valle Ascon ABC MaqTec Wagner Alexis Ruiz Prepara Cursos Manuel Aravena Tiago Moura Mendonça Juan Pablo Salas Martin Bonadeo Alphonse Guilherme Voigt Rogerio Gabriel José Mourelle Acesso Digital Enox On>life Media ProPay Bercia MercadoLibre Paulo Alencastro Ernesto Villela Mark Barcinski Abishai Rovner Diego Torres Martins Marcos Galperín Rafael Cordeiro Bio Insumos Nativa Hernán Kazah Proteus Akiyama Escol@24Horas João Mendes de Carvalho Eduardo Donoso Mural.ly Ismael Akiyama Severino da Silva Marcelo Romcy Paulo Escobar Mariano Suárez Battán AMBAR Buin Zoo Patricio Jutard Gera SEDI Bruno Balbinot Alencar Carvalho Edivan Costa Ignacio Idalsoaga Oasis Collections Fabio Piastrelli Mengozi Angelus Business News Américas Parker Stanberry Sieve Roberto Alcântara Gigalink André Massa Greg Barton Onapsis Sônia Madi Alcântara Carla Adriana Lucho Felipe Salvini Colegium Victor Montero Osvaldo A. Lucho Jr. Luis Vabo, Jr. APPI Tecnologia José Manuel Barros Mariano Nuñez Di Croce Alexandre Pi Grupo OilCheck SIRTEC Ariel Gringaus Ozono Producciones Carlos Henrique Alves Darci Schneid Fernando Moya Luis Gustavo Milani

64 ENDEAVOR IMPACT REPORT 2013–14 ComparaOnline Campoalto Bey2ollak Obrela Security Industries The Online Project Sebastián Valin Acuña Andrés Angulo Mohamed Rafea George Patsis Ramzi Halaby Alvaro Hoffmann Gamal Sadek Zafer Younis Corbac Hugo Fernando Novoa Out There Media Christian Cortés Crave (Tico’s) Daphne Loukas Cebar Fahed El Dalati Kerstin Trikalitis Lebanon Costa Brothers & Cia Fabio Velasquez Hazem El Dalati Sergio López Papadimitriou Anghami Conexred Diwan Bookstore Christos Papadimitriou Elie Habib Drillco Andrés Alban Hind Wassef Eddy Maroun Rolando Carmona Mauricio Hoyos Nadia Wassef Indonesia ArabNet ForexChile Dynamo El Matbakh Omar Christidis Erwin Andia Andrés Calderón Hiba Jammal Agate Cristóbal Forno Cristian Conti Tarek Khaddaj Arief Widhiyasa At7addak Nicolás Gallardo Rodrigo Guerrero Brahms Chouity Andrés Rojas Diego Ramírez E‐Masary Elang Property Omar El Sanhoury Elang Gumilang Beesline Genesys EcoFlora Moatasem Osam Maha Arayssi Rifai Alvaro Ananías Nicolás Cock GiftCard Indonesia Mohamad Arayssi Hassab Labs Antonius Taufan Geomar Glüky Mohamed Azab Diwanee Javier Donoso Juan José Mesa Amina Hassab The Goods Group Herve Cuviliez Andrés Ángel Anton Wirjono Delphine Edde Great Process Hindawi Roberto Cifuentes Ideagro Ahmed Hindawi Indomog Eastline Marketing Mauricio Angel Vincent Iswaratioso Nemr Nicolas Badine Innovex Imtenan Marc Dfouni Patricio Catalán LiSim Ahmed Farouk Kartuku Gonzalo Santamarina Lilian Simbaqueba Niki Luhur Elcir Mashaweer Jean‐Marc Ingea Kibernum Lumni Ahmed El Kordy Kebab Turki Baba Rafi Mario Araya Felipe Vergara Mohamed Wahid Hendy Setiono Element^n Rabih Nassar Latitud 90 Marroquinera SASCO Group lightHOUSE Indonesia Alberto Gana Maria Fernanda Hernandez Alaa Sryo Grace Judio‐Kahl Green Studios Felipe Howard Perez Tarek Sryo Jamil Corbani Mario Hernandez Perez RUMA Limonada Mario Hernandez Zambrano Smart Care Medical Aldi Haryopratomo Instabeat Paula Valverde Services Hind Hobeika Valentina Valverde Oruga Amr El‐Tayeb Tirta Marta Diego Diaz del Castillo Sugianto Tandio Mobinets Nutra Bien Pedro Tosin Tabibi 24/7 Labib Shalak Isabella Jaras Walid Abdel Hadi Jordan Patricio Jaras PagosOnline Khalil Abdel Khalek Mosaic Marble Taline Assi Martin Schrimpff Karim Ragab Akhtaboot Oxxean José Fernando Vélez Mohamad Haj Hasan Nada Debs Jorge Pacheco TBS Yousef Shamoun Refinancia Tarek El Nazer Nada Debs Plataforma Networks Kenneth Mendiwelson Sameh El Sadat Altibbi Nymgo David Assael Basel Mashhour Jalil Allabadi David Basulto Siigo Omar Onsi David Ortiz Greece API Printworks Prey Ricardo Ortiz Fadi Al‐Atrash Tomás Pollak Jad Khoury Carlos Yaconi Sistole Daily Secret Phaedra Chrousos ASK Ricardo Leyva Amin Amin Malaysia SKM Seaprende Nikolaos Kakavoulis Max Grekin TES América Curl Stone GridMarkets Daniel Rosas Ergon Thomas Douzis Majdy Abo Mathkoor Hakim Karim Scrum Fadi Bargouti Alfredo Gómez TVG Juris Technologies Patricio Rojas Carlos Londoño Fereikos‐Helix Maria Vlachou EAT Restaurant Group Wai Hun See Penny Vlachou Omar Tabaa Naaman Lee WeHostels John Lim Colombia Diego Saez‐Gil Hellas Direct Jamalon Ala’ Al Sallal Aranda Software Widetech Emilios Markou Mexico Alberto Lederman Jaime Arbelaez Alexis Pantazis Jorge Osorio Javna Mansour Mansour 4E HotelBrain Juan Carlos Gonzalez Bodytech Egypt Panos Paleologos Jorge Gonzalez Olvera Gigliola Aycardi Jeeran Omar Koudsi Nicolás Loaiza Azza Fahmy Money Market Advenio Fatma Ghaly Sotiris Papantonopoulos‐ Kharabeesh Luis Garza Sada Bunny Inc. Mantopoulos René Lankenau Alex Torrenegra Baraka Optics Manolis Marsellos Firas Al‐Otaibi Tania Zapata Ahmed Ragab Mohammed Asfour Wael Attili Alibio Alfredo Suárez

65 FINANCIALS, DONORS, AND BOARD MEMBERS Agua Inmaculada Grupo Delicias MIA Yogome WiGroup Eymard Arguello Antonio Feregrino Quezada Guillermo Jaime Calderón Manolo Diaz Bevan Ducasse Juan Carlos Feregrino ArCcanto Quezada MiMoni Victor Calderón Gabriel Manjarrez Miami Saudi Arabia Arturo Merino Grupo MYT Pedro Zayas Carlos Mier y Teran KidoZen Lomar Barared Mister Tennis Jesus Rodriguez Loai Naseem José Gonzalez HDS Manuel Jimenez Garcia Jaime Cater Leapfactor LSS BlueMessaging Montelobos Lionel Carrasco Naif Alqahtani Andrés Rodríguez Imagen Dental Moises Guindi Marcela Henao Silvanna Valencia Patricio Villarreal Daniel Schneeweiss OTS Juan Vera Ricardo Villarreal LearnerNation Ahmed Hamdan Zambrano Naranya Michael Laas Hassan Hamdan Campo Vivo Arturo Galvan Michael McCord Mateo Dornier Ingenia Muebles Shawarmer Christian Vidal Flores Optima Energía My Ceviche Abdulmohsin Al‐Rabiah Capital Gain Ernesto Vidal Flores Enrique Gomez Junco Roger Duarte Alejandro Villalón Patrick Vidal Flores Sam Gorenstein TalentS Orcius Amr Al‐Madani Saeed Saeed Carrot Instafit Javier Cardenas Ibarra Morocco Jimena Pardo Oswaldo Trava Albarrán Diego Solórzano Pabisan Kilimanjaro Environment Spain Intellego Enrique Ramon Youssef Chaqor ChilimBalam Eduardo Graniello Worldsensing Enrique Osoviecki Felipe Labbé Parkimóvil M2T Ignasi Vilajosana Dan Schwarzblat Carlos Anaya Rodriguez Mourad Mekouar Interlub Cinemagic René Freudenberg PeriscopioMedia Turkey José Ignacio Irigoyen Roberto Iberri José Antonio Chaurand South Africa Roberto Quintero Flores AirTies InventMX Call Force Direct Bülent Çelebi Clinicas del Azucar Heberto Taracena Blé Petsy Candice Roberts Javier Lozano Toby Clarence‐Smith Baydöner Fernanda Zorrilla IPETH Pablo Pedrejón García Cibecs Feridun Tunçer Alejandro Cuervo Guevara Richard Dewing Levent Yılmaz Daniel Espinosa Studio Arturo Macip Pounce Consulting Daniel Espinosa Roger Viera Cognician Digitouch Max Sánchez Kichink Barry Kayton Yunus Güvenen Claudia de Heredia Previta Patrick Kayton Docsolutions Claudio del Conde Christian Guerra KobiMaster Gabriel Oropeza Paul Marquard Morgan Guerra Everlytic/Prefix Murat Özler Guillermo Oropeza Josh Adler Kubo Financiero PROA Sam Hutchinson Kokteyl Editorial Mapas Vicente Fenoll Algorta Luis Martínez Erdem Yurdanur Javier Arredondo Luis Pernia Innovent L’Atelier du Chocolat Zakhe Khuzwayo Lidyana.com Enova Marisol Alfaro Hernández Procesa Chiapas DJ Kumbula Hakan Baş Jorge Camil Alejandro Chaljub Moís Cherem La Zarza Mauricio Pariente Integr8 Monopoli Sigorta Raúl Maldonado José Luis Cisneros Madrid Lance Fanaroff Erol Esentürk Quarksoft Robert Sussman Fagro Leonali César Montes de Oca Peak Games Jesús Saro Boardman José Luis Correa Masana Hygiene Services Sidar Şahin Artasanchez SalaUno Cynthia Mkhombo Fullsand Javier Okhuysen Petfor Joaquín Matienzo Lindes Carlos Orellana Metrix Software Solutions Semih Yüzen Hugo Hernández Basulto Dennis Marketos G2 Consultores Sin Secretos Paul Marketos P.I.Works Jorge Gonzalez Gasque Linko Jorge Bouffier Bahadır Kuru Gonzalo Abascal Manuel Villarreal RubyBox Gresmex Armando Rasgado Sylvia Gruber Pozitron Gabriela León Javier Solano Tecnología en Helados Fatih İşbecer Xavier Brisenˇo Silulo Technology Fırat İşbecer Gruindag Lo Mío es tuyo Lonwabo Rani Armando Tortoledo Diego Creel Moreno Veramiko Luvuyo Rani Rafinera Pedro Zarur Vidal Cantú Didem Altınbaşak Tulgan Maskota Guillermo Farias Stitch Wise Grupo AMV Isaac Tawil Natalie Killassy Yemeksepeti.com Juan Manuel Alvarado Murry Tawil Abadi Ver de Verdad Nevzat Aydın Vivian Tawil Hugo Moreno González Taste Holdings Melih Ödemiş Grupo Archipiélago Carlo Gonzaga José Luis Bezaury Mexis Vialux United Arab Emirates José Islas Guillermo Casares González Fernando Martinez Trainiac Robert Dennison Antonio Vilches Francisco Moncayo Dubai Desert MexQ Extreme (DDE) Oscar Carrillo VickyForm VMT Shahin Khodjasteh José Zaga Saba Wilter du Toit Shahriar Khodjasteh

66 ENDEAVOR IMPACT REPORT 2013–14 SENIOR ADVISORS

Duplays Seinco Ariel Aisiks Ravi Bhusari Francisco Gross “Capital without mentorship Founder & CEO, Derv Rao The Geo Global Foundation Brian Sigafoos STATUM is lost capital. Creating an Álvaro Lozano Sunny Bates Mumzworld Sebastían Schickendantz entrepreneurial ecosystem President & CEO, Mona Ataya Sunny Bates Associates Todotvmedia PropertyFinder.ae Sebastían Lateulade that provides mentorship, Gina Bianchini Michael Lahyani Founder & CEO, Mightybell Top Systems capital, networks, and support Álvaro Domínguez Chris Bierly Uruguay to help entrepreneurs scale Partner, Bain & Company URUNET AIVA Pablo Milburn has a positive impact on job Peter Brooke María Noel Ache Advent International creation, the community, Senior Advisor Assist Co‐Founder Emeritus Julio Cantera and economies.” Juan Pablo Cappello Astropay Co‐Founder, MARIA PINELLI Andrés Bzurovski Private Advising Group Sergio Fogel Global Vice Chair, Strategic Growth Markets, EY Erik Dithmer Asuan Global Vice President, Eduardo Delbono End User Computing Sales, Álvaro Maldonado Dell

CEPA Taddy Hall Fernando Cammarota SVP, Global Practices and Consulting Services, ConectaGames The Nielsen Company Daniel Armand Ugon Nicolás Batlle Richard Hamermesh Professor of Management GlamST Practice, Harvard Carolina Banˇales Business School Agustina Sartori Matt Harris Infocorp Managing Director, Gabriel Colla Bain Capital Ventures

Lolita Aly Jeddy Michel Cohen Partner, The Abraaj Group

Lynkos John McIntire Federico Cella Director/Advisor, Open English Medea Gabriel Schimmel Paul Parker Former Head, Global Memory Corporate Finance and M&A Roni Lieberman Group, Barclays

PedidosYa Diego Piacentini Ariel Burschtin Senior Vice President, Álvaro García International Consumer Ruben Sosenke Business, Amazon.com

Rinque Pharma Maria Pinelli Gabriel Fernández Global Vice Chair, Strategic Growth Markets, EY RobTec Pablo Elenter William Sahlman Ariel Lijtenstein Dimitri V. D’Arbeloff— Sergio Oberlander Class of 1955 Professor of Business Administration, Salado Media Harvard Business School Andrés Ameglio Senior Advisor Carlos Ameglio Co‐Founder Emeritus

Scanntech Veronica Serra Raúl Polakof Founding Partner, Pacific Investments SEG Ingeniería Ernesto Elenter Tom Speechley Diego Garfinkel Partner, The Abraaj Group Fernando Schaich

67 FINANCIALS, DONORS, AND BOARD MEMBERS “Serving on the diverse boards of ARGENTINA BRAZIL

Endeavor Global, Chile, Jordan, Guibert Englebienne Laércio José Co‐Founder & CTO, Globant de Lucena Cosentino and, most recently, Miami, I have Incoming Board Chairman, CEO, TOTVS seen first-hand how Endeavor’s Endeavor Argentina Chairman, Endeavor Brazil Andrés Freire Carlos Alberto da Veiga transformative support of Chairman & CEO, Sicupira Quasar Ventures Board Member, AB‐Inbev Outgoing Board Chairman, Founding Chairman, entrepreneurs builds cultures Endeavor Argentina Endeavor Brazil of give-back around the world.” Juan Collado Paulo Antunes Veras Treasurer, Grupo Tapebicua Founder, Guidu PETER KELLNER Former Managing Director, Founder & Managing Partner, Richmond Global Marcos Galperín Endeavor Brazil Co‐Founder & President, Co-Founder, Endeavor MercadoLibre Paulo Cezar Aragão Partner, Barbosa Müssnich Alejandro Gorodisch & Aragão Advogados—BMA Founder & CEO, Ombu Investments Fabio Colletti Barbosa Management President, Grupo Abril S/A

Gustavo Grobocopatel Antonio Dias Leite President, Los Grobo Group Partner, Cetus Investimentos Norberto Loizeau Compte President, Promored Jorge Paulo Lemann Board Member, AB‐Inbev Martín Migoya Co‐Founder & CEO, Globant Pedro Luiz Barreiros Passos Rodolfo Montes de Oca Presidente do Conselho Co‐Founder, Zott de Administração, Producciones Natura — Brasil

Luciano Nicora André Rezende Founder and CEO, VN Global President and Commercial BPO SA. Director, Prática

Adolfo Rouillón Romero Rodrigues Founder & CEO, CEO & Co‐Founder, Congelados del Sur BuscaPé

Nicolás Szekasy Co‐Founder & Managing Partner, KaszeK Ventures

Silvia Sioli deTorres Carbonell Director, Entrepreneurship Center, IAE Business School

68 ENDEAVOR IMPACT REPORT 2013–14 = Endeavor Entrepreneur CHILE COLOMBIA EGYPT GREECE INDONESIA

Salvador Said Andrés Echavarría Khaled Bichara Michael D. Chandris Husodo Angkosubroto Executive President, Board Member, Corona Managing Partner Chairman, Chandris Group Chairman, Gunung Grupo Said Chairman, Endeavor & Co‐Founder, Chairman, Endeavor Greece Sewu Kencana Chairman, Endeavor Chile Colombia Accelero Capital Chairman, Management, Interim Chairman, Mareva Grabowski Endeavor Indonesia Enrique Cueto Kenneth Mendiwelson Endeavor Egypt Managing Partner, Executive Vice President, Founder & President, Zeus + Dione Svida Alisjahbana LAN Airlines Refinancia Hassan Abdalla Founder & Vice Chairman, CEO, Femina Group Vice Chairman & Managing Endeavor Greece José Luis del Río Antonio Celia Director, Arab African Dr. (h.c.) Ir. Ciputra President, CEO, Promigas International Bank Dr. John Coustas Founder & Chairman, Inversiones INDER President & CEO, Universitas Ciputra Albert Douer Ahmed Badreldin Danaos Corporation Entrepreneurship Center Jorge Errázuriz Grez Vice President, Ajover Partner, President, Celfin Capital The Abraaj Group Marily Frangista Harun Hajadi Diana Gomez Kopp Managing Director, Franco Managing Director, Ciputra Alan Farcas Co‐Chair of the Board, Youssri Helmy Compania Naviera S.A. Partner, Nazca Ventures MEMO SAS General Partner, Hendrick Kolonas Newbury Ventures Theodore M. Kyriakou President Commissioner, Jean‐Paul Luksic Guillermo Heins Group CEO, Celebes Artha Ventura President, Antofagasta Partner, Heins & Moller Amr Shady Antenna Group Minerals CEO, T.A. Telecom Jimmy Masrin Ruben Minski Johanna Papadopoulou CEO, PT Caturkarsa Jorge Nazer President & CEO, President & Managing Megatunggal Founder & CIO, Grupo ALTO Grupo Procaps Director, E.J. Papadopoulos S.A. Raoul Oberman Christoph Schiess Eduardo Pacheco Director (Emeritus), Executive President, President & CEO, Dimitri Papalexopoulos McKinsey & Company Transoceánica Colpatria Managing Director, Titan SA Indonesia

Sven von Appen Alejandro Santo Domingo Costantza Sbokou Arif Rachmat President, Ultragas Managing Director, Constantakopoulou CEO, PT Triputra Agro Quadrant Capital Architect, T.E.MES. S.A. Persada Karina von Baer Advisors Inc. Director, Oleotop Yiannis N. Stassinopoulos Theodore P. Rachmat Carlos Andres Viohalco S.A. Founder, PT Triputra Uribe Arango Investindo Arya Presidente, Ladrillera Spyros Theodoropoulos Santa Fe Managing Director, Chipita George Tahija S.A. President Director, Austindo Nusantara Jaya Alexandros Tourkolias CEO, National Bank of Greece

Melina Travlou Managing Director, Neptune Lines Shipping and Managing Enterprises S.A.

= Endeavor Entrepreneur 69 FINANCIALS, DONORS, AND BOARD MEMBERS JORDAN LEBANON MALAYSIA MEXICO

Ali Al‐Husry Sami Khouri Afzal Abdul Rahim Carlos Emilio Gómez Bernardo Minkow Director, Hikma CEO, Teeba Holding CEO, Time dotCom Andonaegui Wengerman* Pharmaceuticals Chairman, Chairman, Endeavor Founder & President, Independent Director Chairman, Endeavor Jordan Endeavor Lebanon Malaysia Cascada Ventures Bernardo Minkow Chairman, Endeavor Mexico Maher Kaddoura Michel Abouchalache Mark Chang Rafael Posada Cueto Angel Investor & CEO, Quilvest Founder & CEO, Jobstreet Pedro Aspe Armella CEO, Grupo Proyecta Management Consultant, Chairman & CEO, nextmove Fadi Majdalani Tony Fernandes Evercore Partners Gullermo Romo Romero Vice Chairman, Vice President, Co‐Founder & Group CEO, Chairman & CEO, Endeavor Jordan Strategy& Lebanon AirAsia Emilio Fernando Grupo Mega Azcarraga Jean Nadia Al Saeed Fares Fares Nazir Razak Chairman, President & CEO, Carlos Sales Sarrapy General Manager, Bank al Chairman, Wedge Managing Director & CEO, Televisa Managing Director, Etihad Alternatives Limited CIMB Bank Cuasar Capital Elías Cababié Daniel Amjad Aryan Karim Farra Shahril Shamsuddin Chairman & CEO, GICSA Alberto Torrado Martínez President & Founder, Managing Director, President & Group CEO, Chairman & CEO, Pharmacy 1 Manara Capital Sapura Kencana Petroleum Juan Ignacio Alsea Casanueva Pérez Tarik Awad Selim Ghorayeb Brahmal Vasudevan Chairman & CEO * In Memoriam CEO, Capital Investments Founder & CEO, Founder & CEO, (Interproteccion), Grupo CP Endeavor will remember Algorithm Creador Bernardo Minkow with Randa Ayoubi Agustin Coppel esteem and recognition; Founder & CEO, Rubicon Habib Kairouz Thean Soon Wong Chairman of the Board, he was a devoted board Group Holding Managing Partner, Managing Director, Coppel member for Endeavor Rho Capital Partners MyEG México and an enthusiastic Waddah Barkawi Miguel Ángel Dávila mentor to its entrepre- Partner, EY (Jordan) Marwan Kheireddine Guzmán neurs. We will miss his sage Managing Director, Partner, Latin Idea Ventures advice and unforgettable Said Darwazah Al‐Mawarid Bank s.a.l. presence. CEO, Hikma Juan Pablo del Valle Pharmaceuticals Azmi Mikati Perochena CEO, M1 Group CEO, Mexichem Ihab Hinnawi CEO, Umniah Mu’taz Sawwaf José Antonio Fernández CEO, Mimar Invest Garza‐Laguera Peter Kellner Managing Director, Founder & Managing Plásticos Técnicos Partner, Richmond Mexicanos Global LLC Co‐Founder, Endeavor Carlos Fernández González Safwan Masri Chairman of the Board, Executive Vice President, Finaccess Global Centers and Global Development at Columbia Eduardo Garza T University Chairman & Founder, Frisa

Walid Tahabsem Andrés Ignacio Gómez President & CEO, Integrated Martínez Technology Group (ITG) Co‐Chairman, Grupo AXO

Fawaz Zu’bi Guillermo Jesús González Founder & CEO, Accelerator Guajardo Technology Holdings Director, M & A Fusiones Y Adquisiciones

Eduardo Graniello Perez Founder & CEO, Intellego

Ricardo Maldonado Yáñez Partner, Mijares Angoitia Cortes y Fuentes

70 ENDEAVOR IMPACT REPORT 2013–14 MIAMI MOROCCO PERU PHILIPPINES SAUDI ARABIA

Adriana Cisneros Moulay Hafid Elalamy Oswaldo Sandoval Eugenio López III Rami Alturki CEO & Vice Chairman, Founder, Chairman & Chairman, Chairman, ABS‐CBN President, Alturki Group Cisneros President, SAHAM Group Sandoval Group Corporation Chairman, Endeavor KSA Co‐Chairman, Chairman, Founding Chairman, Chairman, Endeavor Miami Endeavor Morocco Endeavor Peru Endeavor Philippines Abdulaziz A. Al Omran Vice President, Khalid Daniel Echavarría Mohamed Elmandjra Carlos Rodríguez‐Pastor Jaime A. Zobel de Ayala & Abdulaziz Al Omran Co. Managing Partner, Founding Partner, Chairman, Intercorp Chairman & CEO, Ganolian Investments Co. Blue Mango Capital Founding Vice Chairman, Ayala Corporation Abdulla M. Al Zamil Co‐Chairman, Vice Chairman, Endeavor Peru CEO, Zamil Industrial Endeavor Miami Endeavor Morocco Cezar Consing Mario Alvarado Pflucker President & CEO, Bank of Yousef Al‐Majdouie Ernest Bachrach Mohamed Alami Lazraq CEO, Graña y Montero the Philippine Islands CEO, Al‐Majdouie Motors Special Partner, Founder & Chairman, Advent International Alliances Ernest Bachrach Anthony T. Huang Musaab S Al‐Muhaidib Special Partner, President, SSI Group, Inc. General Manager, Alberto Beeck Hicham Berrada Advent International Masdar Building Materials Partner, VH Properties Co‐President, Sheila Lirio Marcelo Palmeraie Holding Luis Felipe Castellanos Founder, Chairwoman Mohammed Hafiz Alberto Chang‐Rajii CEO, Interbank & CEO, Care.com CEO, Al Sawani Group President & Founder, Said Ibrahimi Grupo Arcano CEO Moroccan Financial Felipe Antonio Custer Edgar Injap Sia II Hossam Y. Radwan Board, Casablanca Chairman & CEO, Chairman, DoubleDragon Senior Partner, Maurice R. Ferré, M.D. Finance City Corporación Custer S.A. Properties Corp. The Abraaj Group President, CAMI Foundation Majid Iraqui Diego de la Torre Julio Sy, Jr. Faisal Tamer Matt Haggman President & CEO, Chairman, La Viga S.A. Founder & CEO, Managing Partner, Miami Program Director, Jorf Lasfar Energy TAO Corporation Tamer Group Knight Foundation Company North Africa Oscar Espinosa Bedoya Chairman, Peter Kellner Walter Siouffi Ferreycorp S.A.A. Managing Partner & Managing Director, Founder, Richmond Global Citibank Maghreb Alex Fort Brescia Co‐Founder, Endeavor Director, Breca Group Mostafa Terrab Manny Medina Chairman & CEO, Eduardo Hochschild Chairman & CEO, OCP Executive Chairman, Medina Capital Partners Hochschild Mining

Andrés Moreno Jorge Medina Méndez Founder & CEO, Retired Chairman & CEO, Open English EY Peru

Sean Wolfington Lucía Montero Chairman & CEO, Director, Lumni and The Wolfington Companies Enseña Peru

Juan Carlos Verme Chairman, Inversiones Centenario S.A.A.

71 FINANCIALS, DONORS, AND BOARD MEMBERS SOUTH AFRICA SPAIN TURKEY UNITED ARAB URUGUAY EMIRATES

Adrian Gore Jaime Carvajal Urquijo Murat Özyeğin Muna Al Gurg Andrés Cerisola Founder & CEO, Special Partner & Former Board Member, Director of Retail, Easa Managing Partner, Ferrere Discovery Managing Director, FIBA Holding Saleh Al Gurg Group (ESAG) Chairman, Chairman, Endeavor Advent International Chairman, Co‐Chair, Endeavor UAE Endeavor Uruguay South Africa Founding Chairman, Endeavor Turkey Endeavor Spain Patrick Chalhoub María Noel Ache Hlumelo Biko Sina Afra Co‐CEO, Chalhoub Group Founder & CEO, AIVA Co‐Founder, Spinnaker Javier Perez Dolset Co‐Founder & Chairman, Co‐Chair, Endeavor UAE Vice Chairman, Growth Partners Chairman & CEO, Zed Markafoni / Turkish Endeavor Uruguay Entrepreneurship Mustafa Abdel‐Wadood Herman Bosman Angel Cano Fernandez Foundation Partner and Chairman of Juan Berchesi CEO, RMB Investment President, BBVA the Management Executive Director, Isbel Holdings Cansen Başaran‐Symes Committee, The Abraaj Sabina Fluxà Chairwoman, Group Federico Cella Innocent Dutiro Executive Vice President Allianz Turkey President & CEO, Lynkos Partner, Bain & Co. SA & CEO, Grupo Iberostar Avishesha (Avi) Bhojani Ümit Boyner Chairman, International Orlando Dovat David Frankel Juan Juárez Board Member, Management Ventures President, Zonamerica Managing Partner, CFO & Board Member, Boyner Holding Founder Collective Grupo Carbures Fadi Ghandour Pablo Garfinkel Bülent Çelebi Founder & Vice Chairman, Director, Tokai Ventures Carlo Gonzaga Alvaro Lopez‐Jorrin Founder & Chairman, Aramex CEO & Director, Corporate Law Partner, AirTies Martín Guerra Taste Holdings Garrigues Joseph Ghossoub Senior Partner, Incapital Secretary of the Board, Hayri Çulhacı CEO, MENACOM Paul Harris Endeavor Spain Vice Chairman, Ariel Pfeffer Non‐Executive Director, Akbank T.A.Ş Souheil Hajjar Founder & CEO, RMB Holdings Francisco José CEO, MAF Trust Trillonario.com Riberas Mera Vuslat Doğan Sabancı Nic Kohler Chairman & CEO, Chairwoman, Hürriyet Ahmed Galal Ismail Julia Rodríguez Larreta CEO, Hollard Insurance Corporacion Gestamp CEO, MAF Ventures Director, El País Işık Keçeci Aşur Willem Roos Javier Monzon Managing Partner, Badr Jafar Gabriel Rozman Joint CEO, Outsurance Chairman & CEO, Indra Aragon Capital CEO, Crescent Enterprises Chairman & Founder, Tokai Consulting Isaac Shongwe José María Ali Koç Abdullah Mazrui Non‐Executive Chairman, Álvarez‐Pallete Board Member, Chairman, Mazrui Holdings Letsema Holdings CEO & COO, Telefonica S.A. Koç Holding Noor Sweid Ajen Sita José Luis Perelli Emre Kurttepeli Founder, Zen Yoga CEO, EY Africa President, EY Spain Founder & Chairman, Mynet Nilesh Ved Barry Swartzberg Chairman, Apparel Group Executive Director, Ebru Özdemir Discovery Board Member, Limak Holding Michael Vacy‐Lyle CEO, First National Bank Suzan Sabancı Dinçer Commercial Banking Chairwoman, Akbank

Alp Saul Founder & CEO, Pronet

Mustafa Say Founder & Managing Partner, AccessTurkey Capital Group

Ferit Şahenk Chairman, Doğuş Group

Özcan Tahincioğlu Chairman, Tahincioğlu Holding

Mahmut Ünlü Chairman, Ünlü & Co.

Selçuk Yorgancıoğlu Turkey Country President & Group Executive Board Member, The Abraaj Group

72 ENDEAVOR IMPACT REPORT 2013–14 GLOBAL BOARD OF DIRECTORS

Edgar Bronfman, Jr. General Partner, “Sustainable economies are Accretive LLC Chairman, Endeavor dependent on high-impact Michael Ahearn entrepreneurship. What Chairman & Managing Partner, True North Venture Partners, LP Endeavor does better than Matt Bannick Managing Partner, any other organization Omidyar Network is to create entire cultures Nicholas Beim General Partner, of entrepreneurship that Venrock spread within and between Matthew Brown Co‐Founder & CEO, CAIS countries.”

Wences Casares REID HOFFMAN Founder & CEO, Co-Founder & Executive Chairman, LinkedIn Xapo

Paul Fribourg Chairman & CEO, Continental Grain Company

Fadi Ghandour Founder & Vice Chairman, Aramex

Jason Green Founding General Partner, Emergence Capital Partners

Reid Hoffman Co‐Founder & Executive Chairman, LinkedIn

Peter Kellner Founder & Managing Partner, Richmond Global Co‐Founder, Endeavor

William McGlashan Founder & Managing Partner, TPG Growth

Arif Naqvi Founder & Group Chief Executive Officer, The Abraaj Group

Joanna Rees Managing Director, Soda Rock Partners

Linda Rottenberg Co‐Founder & CEO, Endeavor

Nicolas Szekasy Co‐Founder & Managing Partner, KaszeK Ventures Former CFO, MercadoLibre.com

Elliot Weissbluth CEO & Director, HighTower Advisors

James Wolfensohn Chairman, Wolfensohn & Company LLC Emeritus 900 BROADWAY, SUITE 300 NEW YORK, NY 10013 +1 212 352 3200 ENDEAVOR.ORG

“Endeavor was formed for the purpose of promoting entrepreneurs in emerging markets. Its basic model is to link up small and midsize businesses with seasoned entrepreneurs so that the little guys and gals can get the advice and contacts they need to grow their companies into bigger businesses that can employ more people—the best anti-poverty program of all.”

THOMAS L. FRIEDMAN Best-selling author & Pulitzer Prize-winning columnist The World is Flat: A Brief History of the Twenty-First Century Version 3.0