NOAH Conference Reflections

Table of Contents

1. Overview of NOAH Advisors and the NOAH Conference

2. Impressions from NOAH 11

3. Investor Contacts and Attendee Statistics

4. NOAH 11 in the Press and Email Feedback

5. NOAH Poll Results

Overview of NOAH Advisors and the NOAH Conference
 NOAH Advisors - Europes Leading Internet Corporate Finance Boutique
Unique Industry Know-How
100% focused on Internet companies, covering
over 25 sub-verticals in this highly complex
industry
- 15+ years active coverage of leading European
Internet companies and investors
Deep understanding of industry dynamics and
thinking of industry leaders
Ability to add value beyond banking advice
- Facilitates overall process and minimizes
management distraction
Selected Completed NOAH Transactions
November 2011 August 2011
Core Investment Banking Competence
Sale of a majority stake in Fund raising for
The NOAH team has 25+ years of media
investment banking experience
- Routine execution of M&A and financing
to
transactions with sizes of several billion euros Quants Financial Services AG from various investors
The team has been working together closely for 7 Exclusive Financial Advisor to
years (including 6 years at Lehman Brothers) grupfoni and its Shareholders Advisor to RankAbove
8 successfully completed NOAH Advisors
transactions underline successful transfer of
competencies to the Internet sector July 2011 April 2011
Sale of a majority stake in

Unmatched Network and Relationships Full Commitment - We Are Entrepreneurs! have acquired a majority stake in

NOAH Advisors is globally very well connected The NOAH team are entrepreneurs and focused to
and has direct access to virtually all key players in on growing the business and establishing a for $350m from
the industry reputation for excellence
- Knowledge of and strong relationships with Full commitment to deliver top quality results in Advisor to EnGrande
Exclusive Advisor to
Summit Partners and TA Associates
potential buyers key decision makers short time frames
- Coverage of over 500 companies and 4,000 Highly success-based compensation structures
individuals align interests of clients and NOAH Advisors, and April 2011 April 2011
- Proactively finds and unlocks attractive demonstrate conviction to deliver top results Fund raising for Sale of a majority stake in
investment opportunities for leading
investors (e.g. Bigpoint)
Annual NOAH Conference to
from various investors
The NOAH Advisors Core Team
Advisor to AdTelligence Advisor to Yatego

Marco Yoram Jan

Rodzynek Wijngaarde Brandes
December 2009 April 2009
Managing Director Director Director
Partial sale of $80m partial sale of
and Founder

to
to

Contact Details Contact Details Contact Details Valuing Softonic at 175m

marco.rodzynek@noah-advisors.com yoram.wijngaarde@noah-advisors.com jan.brandes@noah-advisors.com
Advisor to Softonic Advisor to Fotolia
UK Mobile: +44 77 85 330 330 UK Mobile: +44 79 17 084 784 German Mobile: +49 174 2010 984
Swiss Mobile: + 41 79958 1512
 Introduction to the NOAH Conference
The NOAH Conference is an annual Internet event taking place once a
year in London, focused on top management from Internet start-ups to
global media companies as well as senior investment professionals
NOAHs goal is to create a marketplace for the European Internet eco-
system to discuss key trends, generate business and facilitate
investment transactions
Over the past 3 years numerous high-profile speakers presented at
NOAH, including over 100 CEOs
The NOAH Conference was founded in 2009 by Marco Rodzynek and is
organised by the NOAH Advisors team with sponsorship from some of
the worlds leading financial investors
NOAH 12 on 6-7 November Save the Date
The conference will again take place at Old Billingsgate in London
Registration will open in early 2012
For updates, please check: www.noah-conference.com
Overview of the NOAH Conference 2011
Summary Overview Conference Program
NOAH 11 took place on 9-10 November 2011 at Old
Billingsgate in London
Fantastic line-up of 90 speakers from 20 countries in keynotes,
presentations and panels over 2 full days
1,150 attendees from 35 countries 57% from Internet
companies, 26% from investors, 15% from corporates (media
companies, advisors, PR and recruiting) and 2% press
representatives from leading on- and offline publications
NOAH party with additional guests from London and a great
live band on the evening of the first day
Extremely positive feedback from numerous attendees, on
twitter and in the press
Selected Conference Impressions
Event Sponsors Strategic Sponsors
Impressions from NOAH 11
Conference Highlights - Day 1

7 NOAH Conference 2011 Summary Overview

Impressions from the NOAH Party

8 NOAH Conference 2011 Summary Overview

Conference Highlights - Day 2

9 NOAH Conference 2011 Summary Overview

Investor Contacts and Attendee Statistics
NOAH Conference 2011 Investor Contact Page
Venture Capital (5-20m) Growth Capital (20-250m) Private Equity (250-1,000+m)
Fund Attendees Key Contact Fund Attendees Key Contact Fund Attendees Key Contact

Premium Partners - Event Sponsors

Harry Nelis (hnelis@accel.com) John Meeks (jmeeks@ta.com) Stefan Gtz (sgoetz@hf.com)
11 Sonali de Rycker (sderycker@accel.com) 7 Ajit Nedungadi (ajit@ta.com) 9 Zita Saurel (zita@hf.com)
Adam Valkin (avalkin@accel.com) Morgan Seigler (mseigler@ta.com) Blake Kleinman (bkleinman@hf.com)
Dominique Vidal (dom@indexventures.com) Scott Collins (scollins@summitpartners.com) Philipp Freise (freip@kkr.com)
9 Ben Holmes (benh@indexventures.com) 5 Christian Strain (cstrain@summitpartners.com) 4 Lucian Schoenefelder (lucian.schoenefelder@kkr.com)
Jan Hammer (jan@indexventures.com) Vincent Lambert (vlambert@summitpartners.com) Vania Schlogel (vania.schlogel@kkr.com)

Hans-Jrgen Schmitz (hans-juergen.schmitz@mangrove-vc.com) Konrad Stoebe (konrad.stoebe@warburgpincus.com) Dominik Stein (dominik.stein@eqt.de )

3 Eugene Mizin (eugene.mizin@mangrove-vc.com) 5 Steven Klooster (steven.klooster@warburgpincus.com) 4 Christian Schuette (christian.schuette@eqt.de)
Guillaume Durao (guillaume.durao@mangrove-vc.com) Johannes Korp (johannes.korp@warburgpincus.com) Anil Hansjee (anil@hansjee.net)
Pawel Chudzinski (pawel@pointninecap.com) Frank Seehaus (fs@actoncapital.de) Kai Romberg (kai.romberg@hgcapital.com)
3 Lukasz Gadowski (lukasz@teameurope.net) 3 Jan-Gisbert Schultze (jgs@actoncapital.de) 3 Dan Groen (dan.groen@hgcapital.com)
Kolja Hebenstreit (kolja@teameurope.net) Benedikt Sudbrock (bs@actoncapital.de) Sascha Kaumann (sascha.kaumann@hgcapital.com)
Roberto Bonanzinga (rbonanzinga@balderton.com)
2 Dharmash Mistry (dmistry@balderton.com )
Fabio Giuseppetti (giuseppetti@palamon.com) Karim Tabet (karim.tabet@provequity.co.uk)
3 Daniel Mytnik (mytnik@palamon.com) 3 Bruno Mourgue d'A. (bruno.mourguedAlgue@provequity.co.uk)
Marcel Rafart (marcel.rafart@nautacapital.com) Ricardo Caupers (caupers@palamon.com) Andrew Tisdale (andrew.tisdale@provequity.co.uk)
2 Javier Rubio (javier.rubio@nautacapital.com)
Karl Peterson (kpeterson@tpg.com)
Pr-Jrgen Prson (pjp@northzone.com) Marco Brockhaus (brockhaus@brockhaus-pe.com)
2 2 Jan Daniel Neumann (neumann@brockhaus-pe.com) 3 Anand Tejani (atejani@tpg.com)
Hans Otterling (hans@northzone.com) Jean Baptiste Brian (jbbrian@tpg.com)
Andrin Bachmann (andrin.bachmann@pitoncap.com)
2 Greg Lockwood (greg.lockwood@pitoncap.com) Chris Caulkin (ccaulkin@generalatlantic.com) Tripp Lane (tripp.lane@apax.com)
2 David Lisewski (dlisewski@generalatlantic.com) 2 Frank Ehmer (frank.ehmer@apax.de)
Alexander Ribbink (alexander@primeventures.com)
2 Rogier Taphoorn (rogier@primeventures.com)
Hubert Deitmers (hubert.deitmers@endeit.com) Sarah Pinto (spinto@greathillpartners.com) Andrea Valeri (valeri@blackstone.com)
2 Martijn Hamann (martijn.hamann@endeit.com)
2 Peter Garran (pgarran@greathillpartners.com) 2 Lance Toler (lance.toler@blackstone.com)
Alex Gonthier (gonthier@@wellington-partners.com)
2 Christian Thaler-Wolski (thaler@wellington-partners.com) Jim Quagliaroli (jim@spectrumequity.com) Stefan Franssen (stefan.franssen@gmtpartners.com)
2 Jeff Haywood (jeff@spectrumequity.com) 2 Natalie Tydeman (natalie.tydeman@gmtpartners.com)
1 Emanuele Levi (emanuele.levi@360capitalpartners.com)
1 Mike Chalfen (mike.chalfen@adventventures.com)
Daniel OKeefe (dokeefe@tcv.com ) Hinrich Stahl (hs@maryland-gmbh.de)
1 Mattias Ljungman (mattias@atomicoinvestments.com)
2 Woody Marshall (wmarshall@tcv.com) 2 Helge Luetzen (hl@maryland-gmbh.de)
1 Michael Eisenberg (michael@benchmark.com)
Stephen Byrne (stephen.byrne@vitruvianpartners.com) Michael Korzinstone (michael.korzinstone@silverlake.com)
1 Alon Lifshitz (alon@blumbergcapital.com) 2 Jussi Wuoristo (jussi.wuoristo@vitruvianpartners.com) 2 John Flynn (john.flynn@silverlake.com)
1 Ian Noel (iannoel@bonsaigrupo.com)
1 Nic Brisbourne (nic@dfjesprit.com) 1 Fabian Wasmus (fabian.wasmus@eqt.de) 1 Jan-Olivier Fillols (jan-olivier.fillols@3i.com)
Expansion Capital
1 Ben Tompkins (bt@edenventures.co.uk)
1 Bernard Vogel (bv@endeavourvision.com) 1 Sebastien Briens (sebastien.briens@hgcapital.com) 1 Jens Hagen (jhagen@uk.adventinternational.com)
Mercury
1 Davor Hebel (davor@fgpe.com)
1 Stephen Lowery (stephen.lowery@frogcapital.com) 1 Harley Miller (HMiller@insightpartners.com) 1 Jrg Mohaupt (jmohaupt@accind.com)
1 Torsten Kreindl (t.kreindl@grazia.com )
1 Laurel Bowden (lbowden@greylock.com)
1 Christoph Haschka (christoph.haschka@macquarie.com) 1 Michael Black (michael.black@bridgepoint.eu)
1 Martin Weber (martin.weber@holtzbrinck.net)
1 Johan Englund (johan.englund@industrifonden.se)
1 Mark Joseph (mark.joseph@oakleycapital.com) 1 Jason Khaksar (jason.khaksar@carlyle.com)
1 Baris Aksoy (baris.aksoy@intel.com)
1 Tomasz Czechowicz (czechowicz@mci.eu)
1 Pueo Keffer (pkeffer@redpoint.com) 1 Andrew Young (andrew.young@permira.com)
1 Thomas Preuss (preuss@neuhauspartners.com)
1 Phillippe Collombel (pcollombel@partechventure.com)
1 Tony Askew (tony.askew@reedelsevier.com )
1 Richard Yen (ryen@saban.com)

1 Olivier Sichel (osichel@sofinnova.fr)

1 Mauro Pretolani (mauro.pretolani@tlcom.co.uk) 1 Morgan Callagy (callagym@vss.com)
Attendance Statistics
In only 3 years, the NOAH Conference has developed into one of Europes leading industry event,
attended by over 1,100 leading Internet executives and investors from 35 countries
Attendance Development 2009 - 2011 Attendees by Country

Move to Old 1,142 Rank Country Attendees % of Total

Billingsgate 1 UK 364 31.9%
2 Germany 357 31.3%
3 Spain 60 5.3%

650 4 US 47 4.1%
600 5 Switzerland 43 3.8%
6 France 42 3.7%
7 Netherlands 36 3.2%
8 Israel 26 2.3%
9 Sweden 24 2.1%
10 Russia 21 1.8%
Other (24) 122 10.7%
2009 2010 2011 Total 1,142 100.0%

Repeat Attendance Rates Attendees by Type

4% 24, 2% 655, 57%
167, 15%
16%
First Time Internet

Third Time Investor

10%
Already 2010 Corporate

70% Already 2009 Press

295, 26%

12 NOAH Conference 2011 Summary Overview

NOAH 11 in the Press and Email Feedback
NOAH 11 in the Press

Read the full article under:

http://blogs.wsj.com/tech-
europe/2011/11/10/russias-untapped-billion-dollar-
opportunities/
Read the full article under:
http://brazilventurecapital.blogspot.com/

Read the full article under:
http://eu.techcrunch.com/2011/11/12/noah-2011-
brings-a-pan-european-networking-space-to-london/
Read the full article under:
http://www.gruenderszene.de/allgemein/noah-
konferenz-2011
Read the full article under:
http://www.3founders.com/2011/11/15/watch-
out-london-rocking-noah-2011

Read the full article under:

http://www.futurecom.ch/events/noha-london-die-
trends-2011/

14 NOAH Conference 2011 Summary Overview

Selected Unsolicited Feedback from Germany
Germany
Company Feedback
Sensational conference!
Altendorf, Founder and CEO
Congratulations on a very very successful NOAH Conference. It has been great fun
to be there and we have had good impressions and great conversations.
Bodo Thielmann, COO
I've heard nothing but positive feedback from your conference. I can only agree of
course.
Philip Reisberger, CGO
I would like to thank you for the fantastic NOAH 2011, in my opinion - and
confirmed by the conversations I had with others - was a great success. Therefore,
You have built up in a very short time the most important conference of the online
world in Europe and managed to bring together opinion makers and designers in
the industry - more participants than last year and the quality without dilution.
It made me very happy to be back in London, and has long been meet all key
partners in one place without having to travel around for several weeks. And also
the atmosphere was fabulous: simply relaxed talks without pressure of time,
accompanied by delicious food, drinks and entertainment
So I congratulate you once again for this tremendous success with the NOAH and I
wish you for your other activities all the very best and as much success - and of
course look forward to next year.
Tristan A. Frster, Managing Director
It was an amazing event. It seemed that every participant was either a high profile
VC or a Founder of one of Europes top rated start-ups. Wow!
Tim Stracke, Founder and CEO
Congratulations to Noah very successful Conference 2011! Was again great!
Felix Zawadzky, Corporate Development
Thank you for your invitation and congratulations also to great success with
Noah11. You have brought together all the top players, created a great
atmosphere to network, discuss deals and presented a fascinating program.
Dr. Marcel Reichart, DLD Ventures
Great company sessions, very recommendable conference.
Alexander Straub
15
Company Feedback
Was really a class event. Thanks again for the invitation.
Kai Bolik, CEO
Again, CONGRATULATIONS to the conference! We were very impressed with what
you have created.
Torsten Appel, CEO
What you have achieved with the NOAH Conference is amazing. Fridtjof and I
couldn't believe what a great conference you guys have set up with just a team of 3
people. Big congrats! It was a pleasure for us to be part of it - we truly enjoyed it.
Founding Management Team
I would like to take the chance to thank you and your team for the great
conference. NOAH conference has been a highly interesting event with many
interesting discussions and a great place to network. I am very much looking
forward to participating again next year.
Benedikt Ernst, Corporate GROUP Projects / M&A
Just wanted to let you know that i truly enjoyed the conference thanks a lot and
congratulation to a great event!
Andreas von Buchwaldt
Impressive event.
Christian Wegner, Chief New Media & Diversification
Thanks also to your organization and execution of a great conference. I was really
impressed and enjoyed all the sessions. If there is an SEO or Social Media Analysis
panel next year would like to attend next year as well. With new insights in SEO
and Social. ;)
Marcus Tober, CEO
Once again a very big thank you to you. The conference was very successful in all
respects: Within 2 days I can with about 20 of the best European funds hold a
pitch; very many of the relevant European Internet personalities were present,
good speeches and Talks; cool location and very good food for a conference; very
cool party on Wednesday evening. In summary: Very very successful event.
Sebastian Funke, Founder and CEO
Thank you again for the very well-made NOAH Conference last week
I really had a lot of fun and lots of good discussions and new contacts.
Looking forward, in the coming year to be there.
Christian Janson-Euterneck, Founding Partner
NOAH Conference 2011 Summary Overview
Selected Unsolicited Feedback from the UK
UK
Company Feedback Company Feedback
Just wanted to tell you that i continue to be impressed by what you guys have Thanks for organizing such a great conference and thanks for giving us the
been doing and the attendance and organisation of your conference. Very well opportunity to associate ourselves with NOAH. We feel very proud to be a
done! sponsor.
Emmanuel Hibou, Co-Head TMT EMEA Dr. Lucian Schnefelder
Thanks for a great NOAH conference 2011. Congratulations on a fantastic conference. It was a pleasure to be involved.
Matthias Lehleiter Guy Halfhead, Vice President Sales
I very much enjoyed NOAH last week. It is an impressive achievement that the Thanks for another amazing conference. Fantastic venue, great people,
three of you are able to put together and run such a large scale event. outstanding organization
Congratulations on a well run conference Andrin Bachmann, Founder
Tim Merel, Managing Director I just wanted to say bravo on this years' conference. It was really a very impressive
Just wanted to thank you for the great conference It was the first time I attended event with such a depth of interesting people and informative presentations.
and have to admit I really enjoyed it. Thank you very much for organizing and inviting us to join you.
Tanguy Peers It was fantastic! We look forward to being involved next year.
Thank you guys - was a great event and really useful. Scott Collins, Partner
Sean Cornwell, CEO Europe Just wanted to say congrats on a super conference. We were proud to help
A very impressive conference, congratulations. sponsor. Christian Strain, Principal
Natalie Tydeman
Seriously, very, very impressive.
Thanks for organizing such a great conference and for all the introductions. Sotiris Lyritzis, Managing Director
Thanks again for being such a gracious host.
Yves Cornaz, Corp Dev, EMEA Congratulations on what you have achieved with Noah.....it really is amazing. I
can tell youve put a lot of yourself into this and am happy for your success.
Great outcome, congratulations to the Noah team Murray Hennessy, CEO
Patrick Healy, Partner
Attending NOAH for the first time this year. Great event.
Congratulations on a great conference! It was a fantastic event, even better than Benjamin Vedrenne-Cloquet
the last year. I met lots of interesting people and learned about new companies
through the presentations and panels. I was very proud to be a part of the NOAH Congratulations on the organization of NOAH. I met extremely interesting people
Conference. with bright new ideas in the IT world.
Zita Saurel, Principal Alessandra Silvestri

Phenomenal effort and an event with so much great content and fantastic
attendance! What a week it was. Congrats & well done, onwards to the next one.
Jan Hammer
William
Great conference as usual! Turner
Riccardo Zacconi, CEO
First time I attend NOAH event and hopefully not the last. Looking forward to the
next one. Mark Hirschfield, Chairman & Director
I am the veteran of many a conference and many a gathering attempting to do
what you have achieved so well over the last couple of days with Noah. Your
initiative is a very real accomplishment. Many congratulations. As I say, it was a
class act.

16 NOAH Conference 2011 Summary Overview

France, Netherlands, Spain, Switzerland and US
Spain France
Company Feedback Company Feedback
Just wanted to congratulate you for the event. It was brilliantly organized! Thank you Marco for that great event! The organisation was perfect and I learned
It is like wine, with every passing year its value increases :) many things. I hope you were satisfied (you should be !).
Ian Noel, Partner Mathieu Llorens, CEO
Conference was unbelievable. You should be proud. Amazingly deep content. Congratulations on the event
Marco - your emceeing was really good. Good Google questions, insight... Pascal Gauthier, CEO
I heard many, many compliments toward Noah from people.
Well done. I know it was a hell of a lot of work, and stress Congrats to you and your team. This was a great event! Kind of LeWeb / VIPonly!
John Erceq, CEO J-David Chamboredon

Big congrats for the great event you guys have put together I wish all our Very well executed.
companies had that growth speed ;-) Laurence Bret-Stern
David Bckstrm Thank you for a blasting NOAH conference! The overall quality and logistics
Great company sessions, very recommendable conference improved by a quantum factor.
Cesar Oteiza, CEO/founder Yann Mauchamp, Founder and CEO

A huge congratulations for you, Yoram, Jan and the rest of the team. It was a Attending NOAH for the fisrt time this year. Great event.
great event and seemed like a huge success. I really appreciate your letting me Yasmine El Hani Deputy Global Sales Director
play a part. RJ Friedlander, CEO Congrats to you! Really great event.
Just wanted to thank and congratulate you for the conference. Great job! Hope it Stphane Le Viet, CEO
was as successful and fun as for me :-)
Alexander Schwarz, Head of Corp Dev
Netherlands
Thank you very much for inviting us to the NOAH 2011 event, it was an amazing
experience for us, great content, great networking and most of all lots of fun... the Company Feedback
best Internet event in Europe by far!! The organization of the event was perfect
and it showed that you guys really did it with a lot of love and attention. We're all It was a great event. What an impressive event, really amazing.
already looking forward to next year's event, it should be even better that this Maarten Beucker Andreae, Owner
year's!!! Trovit Management Thanks for the great conference. I really enjoyed it too.
Marco Kloots, CEO

Switzerland Marco, congrats with this superb event again, you created the "VC/Entrepreneurs
marketplace" for the EU online world.
Company Feedback Martijn Hamann, Partner

Amazing conference guys. Every year it continues to become more and

more important to not miss it. US
Manu Gupta
Company Feedback
I just wanted to thank the whole team for the excellent organization, very much
Congrats on running a very successful conference. The chatter amongst the
appreciated. The conference was truly interesting, I learned a great deal, just
entrepreneurial and investment community has been very positive to say the least.
great.
It was very worthwhile and we look forward to being back there next year in an
Richard Olsen, Founder of OandA
even larger capacity.

17 NOAH Conference 2011 Summary Overview

Israel, Turkey, Russia and Japan
Israel Russia and CEE
Company Feedback Company Feedback

Great event. ROCKSTAR CONFERENCE!!!

Alon Carmeli, CEO Oskar Hartmann, CEO

I wanted to congratulate you for a great conference, I know bringing in together I continue to be amazed what one (obsessed) man can accomplish with a lot of
so many people isn't an easy task :-) drive and one laptop! Congrats again on a super event!
Dror Ceder, Founder of Wibya Tomasz Czechowicz, Founder and CEO

Thanks for the invitation to the NOAH event. It was a pleasure meeting you and It was really nice to be at the event thank you for the invitation and I am looking
your team. As mentioned, I always like to see smart moves like this one forward to next year. Jan Rezab, CEO
Ariel Finkelstein , Founder and CEO
NOAH Conf was absolutely fantastic, thanks for inviting Socialbakers as a
Thank you again for including us in the best tech event I've attended to date. We speaker. Laura Grigerov
met great people, created great opportunities and now see true opportunity for
I really enjoyed the event for the second year and it is getting better. It was a
growth in Europe.
pleasure to be on the panel.
Mayer Reich, CEO and Founder
Nina Pogosova, CEO
I wanted to take this opportunity to thank you as well for the superb and
professionally run NOAH Conference 2011 and for your continued support of
RankAbove. NOAH 2011 was simply fantastic from every angle for RankAbove.
With your generosity of allowing us to have a booth; to the business generated at Japan
the booth and the booth foot traffic and the sheer number of demos executed
there on our SEO platform; networking; not mentioning the extremely high level of Company Feedback
sessions and speakers it was in short an event par excellence! Thank you very much for granting me the opportunity to participate in NOAH 11,
In essence, Mayer and I certainly believe that we will look back on NOAH 2011 and which I found highly informative.
see a great growth trajectory of the Company emanating from November 2011.
Michael Barnett

Turkey

Company Feedback
Congratulations for this fantastic event. I was very impressed by the quality of the
conference.
Mustafa Say, Founder and CEO
Congratulations again on this very successful event. I felt like 2 days was not
enough to consume what you guys have put out there. Many times I was torn
apart between attending a critical session vs. chasing the presenter of the previous
presentation.
Yuksel Dibekoglu

18 NOAH Conference 2011 Summary Overview

NOAH Poll Results
NOAH Poll Results (1/2)
Over 250 people participated in the NOAH Conference mobile poll
Respondents by Company Type Years of Experience in the Internet Sector Expected Revenue Growth 2012

Internet 10% 11-15 years 60%+

16% Company
26% 15-30%
Traditional 12% 31% 1-5 years 32%
Media 30-60%
6-10 years
22% Internet 0-15%
56% Investment Firm 15+ years
21% 1% Declining
Other 6% 19%
New Non internet
6%
26% 16%

Advertising Spend (% of Revenue) Expected Online Ad Market Growth 2012E US is the Source of Internet Innovation

2% 0% 10%+ Disagree
<10% 9% 2%
14%
27% 20%+ Neutral- is a
34% 10-25%
13% possibility
5%+
42% Agree
25-50% 48%
17%
25%+
Strongly
50%+
8% Flat Disagree
Strongly Agree
Not Relevant -5% or less
10% 34%
21% 19%

20 NOAH Conference 2011 Summary Overview

NOAH Poll Results (2/2) Use of Online Service Providers

Payment Service Provider Web Analytics Provider

10%
17%
25% Paypal 3% Omniture
3%
Adyen AT Internet
40%
Ogone Coremetrics

Skrill Other
22%
Other Not Required

24% None None

45%
6%
3% 2%

SEO Technology Use SEM Technology Use

19%
25% 27% No No
30%
Done in-house Done in-house
8%
Yes
Yes
5%
Looking at solutions
Looking at solutions
Not Required
Not Required 20%
18% 25%
23%

21 NOAH Conference 2011 Summary Overview