Impossible Software, founded in 2008 and based in Hamburg, Germany, specializes in dynamic video editing and streaming technologies aimed at video personalization for online advertising. The company provides cloud-based services that allow real-time customization of video content and has attracted notable clients such as Audi and BMW. As of June 2012, Impossible Software is expanding its team and market reach, focusing on scaling operations in the fragmented European advertising landscape.

1. Company & Technology Overview
June 2012 | Impossible Software August 2011

2. Executive Summary
Impossible Software is a pioneer of dynamic video editing, real-time
customization and streaming technologies (patent pending).
Founded in 2008 with the mission that video personalization and individualization
is the future of online video, the company is providing cloud-based services to
deliver personalized and targeted video advertising formats, as well as web-based
video customization and editing tools.
Impossible Software's services are used worldwide to create truly dynamic and
highly creative video experiences across PCs, smart-phones, tablets and
connected TVs. The company is based in Hamburg, Germany.
June 2012 | Impossible Software

3. Company Overview
Introduction Shareholder Structure
- Impossible Software is an online video technology provider, that was
founded in December 2008 by Claus Zimmermann (CTO), Ole John,
and Malte John. In February 2009, Torsten Appel joined the
operational management of Impossible Software and became a
Impossible Software
shareholder in December 2009. The Company is based in Hamburg, 5 9.9
Germany. 18.4 Cinco Capital
23.9
- The team started developing a new, revolutionary and unique real- CFP Founders Fund
time video application server – no equivalent technology can be 18.4 Claus Zimmermann
found on the market. The technology was launched in Q1 2009 on 6
the CEBIT 2009 with the first reference client being Audi. 18.4 Malte John
- The companies unique video advertising technology is providing real-time Ole John
dynamic video solutions to ad serving companies and video content
publishers. Our technology creates the video streams for highly dynamic Torsten Appel
and targeted video ads (Geo, Behavioral, Retargeting) by changing and
inserting creative assets, text, and data directly into the video stream,
independent of client technologies such as Adobe Flash.
- While Impossible Software started by offering and implementing its
product on a project bases, mostly for so called “Hero” videos (videos Reference Clients
in which the viewer takes part by uploading a photo of himself or by
entering her name), the Company generated project revenues of
around EUR 350k.
- In 2011, first advertising reference clients such as BMW/ Mini,
Deichmann, and the YouTube Channel “clixoom” have been acquired
and set up for the new,online video advertising business model.
- Today, the Company has a team of six engineers including the CTO
alongside the CEO and is currently looking to scale to nine engineers
and three Sales & Marketing managers including the CEO and to
expand to the US, as the European market is very fragmented and
has a different advertising market in each of the EU member states.
June 2012 | Impossible Software Page 3

4. Technology Overview
- As displayed to the left, content is fed to the
Impossible Software system
- The technology then merges the content with the
overlay (advertising or other media) into the defined
Dynamic Area to create a new stream in any format
that is demanded by current devices, in real time.
- The end user who is accessing the video content,
receives a new, individual video each time the video is
requested.
- Overlay content can be dynamically created or pulled
from ad servers.
- The technology allows users to interact with the video,
e.g. users can upload their own digital content such
as photos, to be integrated into the video.
- For advertising the system connects to standard ad
servers and retrieves/ processes IAB Standard VAST
documents. (IAB VAST 1.0 & 2.0 supported).
June 2012 | Impossible Software Page 4

5. Technology Overview | Advertising Use Cases
Dynamic Video Ads In-Stream Ad Placements Video Ad Personalization
June 2012 | Impossible Software Page 5

6. Technology Overview | Advertising Use Cases
Original Video Defined Dynamic Area Real-time, in-stream content
Example 1
Example 2
Example 3
June 2012 | Impossible Software Page 6

7. Web (HTML5, cloud) based Video Editing Tools
- Web-based, automated
- Video/Audio decoding &
encoding: H.263, H.264, VP8
- Video editing: HTML5 Video
editing, Post production Tools
- Image processing: Filters,
Drawing, Compositing, Morphology,
Geometry
- Computer vision: Point, Surface &
Object Tracking, AutoMasking, Ad-
Placement Automation
- Animation: Layer animations, Key-
frame animations
- Special Effects: Motion Blur, Face
mapping
- Audio processing: Resampling,
Mixing, Sound Effects
- Video container management and
network/streaming protocols:
MP4, Flash FLV, RTMP, HTTP,
MPEG2-TS (Apple Live HTTP)
June 2012 | Impossible Software Page 7

8. NOAH Advisors - Europe’s Leading Internet Corporate Finance Boutique Selected Completed NOAH Transactions
May 2012 April 2012
Unique Industry Know-How Core Investment Banking Competence
Sale of a 100%-stake in
 100% focused on Internet companies, covering  The NOAH team has 25+ years of media
150 million growth equity investment from
over 25 sub-verticals in this highly complex investment banking experience
industry - Routine execution of M&A and financing for a 50% stake alongside Fotolia’s Founders and
to
- 15+ years active coverage of leading European transactions with sizes of several billion euros
Internet companies and investors  The team has been working together closely for 7 Additional $150 million senior debt financing
Total $300 million investment
 Deep understanding of industry dynamics and years (including 6 years at Lehman Brothers) Financial Advisor to Fotolia and its Shareholders Financial Advisor to Toprural and its Shareholders
thinking of industry leaders  8 successfully completed NOAH Advisors
 Ability to add value beyond banking advice transactions underline successful transfer of
- Facilitates overall process and minimizes competencies to the Internet sector November 2011 July 2011
management distraction Sale of a majority stake in Sale of a majority stake in
Unmatched Network and Relationships Full Commitment - We Are Entrepreneurs!
 NOAH Advisors is globally very well connected  The NOAH team are entrepreneurs and focused to
to
and has direct access to virtually all key players in on growing the business and establishing a Quants Financial Services AG
the industry reputation for excellence Exclusive Financial Advisor to
- Knowledge of and strong relationships with  Full commitment to deliver top quality results in grupfoni and its Shareholders Advisor to EnGrande
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 Sale of a majority stake in
investment opportunities for leading have acquired a majority stake in
investors (e.g. Bigpoint)
 Annual NOAH Conference to
for $350m from
The NOAH Advisors Core Team
Exclusive Advisor to Advisor to Yatego
Summit Partners and TA Associates
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

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