European champions in entrepreneurship by Nenad Marovac

EUROPE HAS NEVER BEEN BETTER Nenad Marovac, DN Capital, 2012

Who reads The Economist?

It’s time to change the record

Ever used this?

Or this?

Recognize these?

What do they have in common?

Yes, Europe is the source of many global leaders 8 European Start-ups generated c.$25bn of value* over the last 10 years • Enterprise software • Exit price : $6.5 billion (IPO) • Music recognition mobile app • Acquired by HP for $10.2 • Estimated valuation: $1 billion billion • Exit price: €2 billion (eBay) • Mobile gaming company • Spun out and reacquired by • Estimated valuation: $1.2 Microsoft for $8.5 billion billion • Worldwide gaming portal • Online dating service • Estimated valuation: $600 • Current valuation: $360 million million • Music streaming software • Private-sale online retailer • Estimated valuation: $1 • Estimated valuation: $3.0 billion billion 9*THESE VALUATIONS ARE ROUGH ESTMATIONS AND SHOULD NOT BE CONSIDERED AS THE EXACT VALUES OF THE PRESENTED COMPANIES

Putting this in context $25bn of Value Generated by 8 Companies Reasonably assume that 50% of Equity is Owned by Founders and Management Team Yes, that is $12.5bn going to the entrepreneurs! 10

So, what makes Europe sosuccessful? Evolution of the European ecosystem Emergence of serial, experienced entrepreneurs Global leading companies coming from Europe and generating substantial returns European start-ups going international US VCs investing in Europe

A new ecosystem is emerging inEurope The emergence of serial entrepreneurs … helping to create Higher quality … supported by high the new generation of companies profile, experienced successful . angel and seed entrepreneurs Higher returns funding… … while major events and groups are nurturing the ecosystem… 1

The emergence of serialentrepreneursThe vibrant entrepreneurial ecosystem in Europe isled by serial and experienced entrepreneurs: Niklas Zennstrom Lukasz Gadowski Brent Hoberman Marc Simoncini

Supported by high profile,experienced angel and seed funding… Giuseppe Nenad Niklas Lukasz Brent Lars Xavier Marc Stefan Zocco Marovac Zennstrom Gadowski Hoberman Hinrichs Niel Simoncini Glaenzer1996 2000 2006 2008 2009 2010 2011

And of Course the Infamous Trio …

… while major events and groupsare nurturing the ecosystem…SEEDCAMP DLD LeWeb Paris

… helping to create the new generationof successful entrepreneursA new wave of young and talentedEuropean entrepreneurs: Hi! I Am Hej jag är Alexander Jacob de Ljung Geer Hej jag är Hallo ich Daniel bin Dirk Ek Graber

The Top US VCs have now accepted thatEurope is a great place to start a company Bessemer, KPCB, Sequoia and Union Square Venture have all invested in European start-ups, including:

Such an ecoystem has enabled European start-ups to conquer the world… 84m+ tags per month 500K+ Shazam for TV – Partnered with 50% of Fon Hotspots Super Bowl Advertisers 100m+Stardoll by barbie downloads of$20.99 retail price “Angry Birds” 50% of Kids Aged 2m+ app downloads 6-12 have adopted Diadmond Dash on mobile devices a pet featured in 14/19 app stores in Africa

So where is the action? Legend > $1bn Valuation at 1st exit A = Acquired; >$100m I = IPO P = Potential Exit Potential ($100m or more)

Where is Europe Leading the Way? MUSIC GamesE-commerce Software

Consumer Digital Media TrendsThe “App-economy” Revenue from major app stores grew from $830 million in 2009 to an estimated $5.6 billion in 2012

Consumer Digital Media TrendsMobile Games 1 billion downloads 50m Angry Birds Space downloads in 35 days Gamers play Angry Birds 200 million minutes per day! 16 years of gameplay every hour! Reported valuation of $1 billion+

The market for start-ups in Europe hasnever been better High quality Market ready entrepreneurs Smart Money for success and ecosystem stories 24

QUESTIONS ?

THANK YOU! Nenad Marovacnenad@dncapital.com +44 (0)20 7340 1600

http://www.excitingcommerce.de	5347
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European champions in entrepreneurship by Nenad Marovac

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