Month-to-date financings in May totalled $106.6 million; led by the $20
million One Net financing. So far, there have been 18 financings in May,
with 10 deals greater than $5 million and only five less than $5 million.
There have been two financings greater than $10 million (Cyberplex and One
Net), with the capital raises by Imeem and EveryZing close behind at $8.8
million and $8.3 million, respectively. The average value thus far in May is
$5.9 million, slightly below the average value for April of $6.5 million on
21 financings. The March average was $6.6 million on 24 financings. Except
for two deals (Kaixin001.com and Collective Media), all were below $20
million for the last three months and a total of four deals were greater
than or equal to $15 million.
*One Net’s $20 million financing is largest deal in May: *One Net announced
a $20 million financing last week, the largest deal so far in May. Ten of
the 18 deals in the month are equal to or greater than $5 million. For
additional details, see Figures 23 and 24 (at end of note). Also note that
the spin-off of StumbleUpon from E-bay on a $29 million valuation occurred
in May. E-bay had bought StumbleUpon for $75 million.
*A strong price performance week: *The companies in our universe had
relatively strong stock price performances over the past week (for stocks
with prices greater than $1) (Figure 6), with 31 companies showing positive
returns on the week. OpenWave Systems (NASDQ:OPWV) led the group with a
49.2% return, while DigitalTown (OTCBB:DGTW) had the worst return, dropping
35.0% in the week.
April on track to be record month?: Total transaction value in the Web 2.0 universe April-to-date is $726.1 million. The number of financings stands at 40 averaging $18.2 million each. Note that this includes the $300 million investment in DST by Tencent. Even excluding this transaction, the average is $15.2 million. In comparison, total capital raised in March was $168.1 million, averaging $5.4 million over 31 deals. The highest monthly total in our Web 2.0 financing database was April 2008 with a total of $765.5 million raised in 47 transactions.
Deal round-up for April: The large deal highlights for the month include:
§
•Tencent invested $300mm in DST (investor in Facebook, Zynga, Groupon).
DST invested $135mm in social-shopping service Groupon.
Salesforce.com acquired crowd-sourced personal contact service, Jigsaw, for $142 mm.
•Warner Bros. acquired gaming company, Turbine, for $160 mm.
•Ankeena Networks, media infrastructure solution provider was acquired by Juniper for $100mm.
Bullish week for Web 2.0: Sixty-nine percent of the companies in our universe had increased or flat market caps over the past week, sixty-nine percent had increased EV/Revenue multiples, 75% had increased or flat EV/EBITDA multiples and 73% had increased or flat P/E mutliples .
LATTER HALF OF 2009: FORGING FORWARD
DEAL VALUE ON PACE TO MEET NOVEMBER LEVEL
December starts at strong pace: Total transaction value in the Web 2.0 universe for the first week of December is $68.8 million. The number of financings stands at seven, averaging $9.8 million each. In comparison, total capital raised in November was $203.4 million, averaging $11.3 million (18 deals); October was $171.3 million, averaging $6.3 million (27 deals); and September was $232.8 million, averaging $9.0 million (26 deals).
Broad-based sector financing: Video, Gaming, Advertising, Collaboration, and Analytics experienced the most financing activity among our Web 2.0 sector categories in the past three months by number of transactions (six each). Social Networks remain strong with five deals in the past quarter. Infrastructure and Search round out the top three positions at four deals each over the past three months. The $400 million acquisition of Playfish skews the Virtual Worlds segment to the highest total.
Market pull-back abates – universe split between risers and decliners: Twenty-five companies in our universe had positive stock price performances over the past week (for stocks with prices greater than $1), while 22 companies showed negative 1-week returns.
April 2010 a record month for Web 2.0 Financing: Total transaction value (excluding M&A) in the Web 2.0 universe for April was $808.2 million - the highest monthly total we have recorded. The number of financings was also a record, at 48, averaging $16.8 million each. Note that this includes the $300 million investment in DST by Tencent. Excluding this transaction, the average is $9.6 million. In comparison, total capital raised in March was $168.1 million, averaging $5.4 million over 31 deals.
Deal round-up for April: The large deal highlights for the month include:
Tencent invested $300mm in DST (investor in Facebook, Zynga, Groupon).
Apple acquired Siri, a mobile local search developer for a rumoured $225 mm.
DST acquired ICQ, the instant messaging company, for $187.5 mm.
Warner Bros. acquired gaming company, Turbine, for $160 mm.
DST invested $135mm in social-shopping service Groupon.
Salesforce.com acquired crowd-sourced personal contact service, Jigsaw, for $142 mm.
Ankeena Networks, media infrastructure solution provider was acquired by Juniper for $100mm.
Bearish week: Price performance was largely negative in our Web 2.0 universe, with prices dropping for over 60% of the companies.
April on track to be record month?: Total transaction value in the Web 2.0 universe April-to-date is $726.1 million. The number of financings stands at 40 averaging $18.2 million each. Note that this includes the $300 million investment in DST by Tencent. Even excluding this transaction, the average is $15.2 million. In comparison, total capital raised in March was $168.1 million, averaging $5.4 million over 31 deals. The highest monthly total in our Web 2.0 financing database was April 2008 with a total of $765.5 million raised in 47 transactions.
Deal round-up for April: The large deal highlights for the month include:
§
•Tencent invested $300mm in DST (investor in Facebook, Zynga, Groupon).
DST invested $135mm in social-shopping service Groupon.
Salesforce.com acquired crowd-sourced personal contact service, Jigsaw, for $142 mm.
•Warner Bros. acquired gaming company, Turbine, for $160 mm.
•Ankeena Networks, media infrastructure solution provider was acquired by Juniper for $100mm.
Bullish week for Web 2.0: Sixty-nine percent of the companies in our universe had increased or flat market caps over the past week, sixty-nine percent had increased EV/Revenue multiples, 75% had increased or flat EV/EBITDA multiples and 73% had increased or flat P/E mutliples .
LATTER HALF OF 2009: FORGING FORWARD
DEAL VALUE ON PACE TO MEET NOVEMBER LEVEL
December starts at strong pace: Total transaction value in the Web 2.0 universe for the first week of December is $68.8 million. The number of financings stands at seven, averaging $9.8 million each. In comparison, total capital raised in November was $203.4 million, averaging $11.3 million (18 deals); October was $171.3 million, averaging $6.3 million (27 deals); and September was $232.8 million, averaging $9.0 million (26 deals).
Broad-based sector financing: Video, Gaming, Advertising, Collaboration, and Analytics experienced the most financing activity among our Web 2.0 sector categories in the past three months by number of transactions (six each). Social Networks remain strong with five deals in the past quarter. Infrastructure and Search round out the top three positions at four deals each over the past three months. The $400 million acquisition of Playfish skews the Virtual Worlds segment to the highest total.
Market pull-back abates – universe split between risers and decliners: Twenty-five companies in our universe had positive stock price performances over the past week (for stocks with prices greater than $1), while 22 companies showed negative 1-week returns.
April 2010 a record month for Web 2.0 Financing: Total transaction value (excluding M&A) in the Web 2.0 universe for April was $808.2 million - the highest monthly total we have recorded. The number of financings was also a record, at 48, averaging $16.8 million each. Note that this includes the $300 million investment in DST by Tencent. Excluding this transaction, the average is $9.6 million. In comparison, total capital raised in March was $168.1 million, averaging $5.4 million over 31 deals.
Deal round-up for April: The large deal highlights for the month include:
Tencent invested $300mm in DST (investor in Facebook, Zynga, Groupon).
Apple acquired Siri, a mobile local search developer for a rumoured $225 mm.
DST acquired ICQ, the instant messaging company, for $187.5 mm.
Warner Bros. acquired gaming company, Turbine, for $160 mm.
DST invested $135mm in social-shopping service Groupon.
Salesforce.com acquired crowd-sourced personal contact service, Jigsaw, for $142 mm.
Ankeena Networks, media infrastructure solution provider was acquired by Juniper for $100mm.
Bearish week: Price performance was largely negative in our Web 2.0 universe, with prices dropping for over 60% of the companies.
Web 2.0 Weekly - June 22, 2010: "AOL Sells Bebo for Massive Loss"David Shore
Deals (M&A, Finance)
AOL is reported to have sold Bebo, the UK-based social network it bought just two years ago for $850 mm, to private equity firm Criterion Partners for under $10 mm. Based on our calculations, AOL paid the equivalent of $38 per Unique Visitor (UV) for Bebo, and sold it for under $1 per UV.
Positive price performance
The Web 2.0 public company universe rose again this week, with 60% of companies seeing their market cap rise vs. 33% falling and 7% flat.
June financing well ahead of average: Financing in the Web 2.0 universe in June was the third highest month (over the past 12) with total transaction value (excluding M&A) of $459.6 million from 51 transactions, averaging $9.0 million each - led by the $147 million Zynga financing. In comparison, total capital raised in June 2009 was $226.3 million, averaging $4.5 million over 50 deals. Excluding Dec 09 and Apr 10, the average monthly total is ~$260 million.
Deals (M&A, Finance)
Alloy, a provider of news and commentary concerning New Media, was acquired by ZelnickMedia for $127 mm.
Facebook’s implied valuation rose to $24 bn as Elevation Partners purchased 5 mm shares of the company for $120 mm in the secondary market.
Danish Skype competitor, Vopium, received $16.5 mm in financing from Indian financier, Raghuvinder Kataria.
Social networking software developer based in France, Pearltrees, raised $1.6 mm.
PapayaMobile, mobile application software company based in China, raised $4 mm.
Two Israeli mobile developers received funding this week, including Perfecto Mobile ($4 mm) and Snaptu ($6 mm).
Negative price performance
The Web 2.0 public company universe fell this week, with 68% of companies seeing their market cap fall vs. 25% rising and 7% flat.
Web 2.0 Weekly - July 27, 2010: "July Financings - Approaching High for 2010"David Shore
Deals (M&A, Finance)
Jive Software received the biggest investment of the week at $30 mm, bringing its total capital raised to date to $57 mm – the company brings social network-like functions to the realm of enterprise collaboration.
Advertising networks continue to receive the most attention among sectors we track – this week, $24.6 mm in financings were announced, including sports-related ad network Sportgenic (acquired by Glam Media for $12 mm), and TurnHere ($12.6mm in Series B funds).
Rumour alert – we continue to hear more frequent buzz concerning the potential acquisition of social gaming developer Playdom by Disney.
Synchronica (AIM:SYNC) intends to acquire iseemedia (TSXV:IEE) for C$8.8 mm in stock – both companies are engaged in mobile communications development, such as email-to-SMS.
Price performance turns positive
The Web 2.0 public company universe was positive this week, with 54% of companies seeing their market cap rise vs. 34% falling and 12% flat.
Web 2.0 Weekly - May 26, 2010: "Market Declines Impact Web 2.0 Universe Valua...David Shore
May tracking to average monthly levels: After a slow start to the month, financing in the Web 2.0 universe has rebounded and is now on track with prior months. Total transaction value (excluding M&A) in the Web 2.0 universe for May (month-to-date) is $189.9 million from 30 transactions, averaging $6.3 million each. In comparison, total capital raised in May 2009 was $375.0 million, averaging $12.5 million over 30 deals. Excluding May 09, Dec 09 and Apr 10, the average monthly total is $212 million.
Deals (M&A, Finance)
Cyberplex (TSX:CX) announced plans to acquire Tsavo Media for US$75.6 mm, partially funded through a C$30 mm bought deal financing at $0.55.
Online gaming company Gaikai, raised $10.0 mm in Series B financing.
Blip.TV, online TV provider, raised $10.1 mm in Series C financing.
Financial Results/Guidance
Netease.com (NasdaqGS:NTES, online gaming) reported Q1/F10 revenue of RMB 1.2 bn (vs. RMB 781.7 mm in the same period last year).
Snap Interactive (OTCBB:STVI, online dating) reported Q1/F10 revenue growth of 20% to $0.927 mm from $0.768 mm.
Bearish week again: Price performance was largely negative in our Web 2.0 universe. This impacted valuation multiples, which fell for ~80% of the companies in our universe.
Web 2.0 Weekly - Aug. 4, 2010: "Playdom is going to Disney World"David Shore
Deals (M&A, Finance) – Disney Gets In To Social/Mobile Video Games
Disney acquired social and mobile game developer, Playdom, for $563 mm in upfront consideration and the potential for $200 mm in further earn-out based consideration. Disney management notes that the company continues to be on the acquisition war path.
The largest deals in the week involved (wait for it…) the advertising sector, with $15 mm in follow-on financings to eXelate and AdMeld, and $8 mm to BuzzLogic.
Four different social network/media companies received financing in the week, including, Hot Potato (acquired for $10 mm by Facebook), PlacePop ($1.4 mm round), Rapportive ($1 mm seed round), and dating site, Triangulate ($0.75 seed round).
Price Performance - Web 2.0 Valuation Reverse Course and Head Upward
The Web 2.0 public company universe was positive this week with 47% of stocks rising, 46% falling, and 7% flat.
Google/Zynga deal drives July financing results: After starting very slowly (just one deal announced in the prior week) July financing increased substantially as a result of the Google/Zynga financing ($100-200 million). Total raised month-to-date is $158.8 million over 12 deals - averaging $13.2 million each. In comparison, total capital raised in July 2009 was $206.5 million, averaging $5.3 million over 39 deals. Excluding Dec 09 and Apr 10, the average monthly total is ~$280 million.
Deals (M&A, Finance)
Google invested a rumoured $100-$200 mm in social game developer, Zynga, bringing that company’s total funding to almost $500 mm (assuming the lower end of the range).
The Gaming sector remains hot – along with Google’s investment in Zynga, The9 Ltd. (Chinese online game developer and operator) invested $5 mm in Delaware-based Aurora Feint (focused on gaming for the mobile space).
A triad of financings in the Social Commerce space this week, including Beyond the Rack ($12 mm), ThredUP ($1.7 mm), and BuyWithMe ($16 mm in a Series B financing).
Sysomos, Canadian social media monitoring firm, was acquired by MarketWire for between $25 mm and $35 mm.
Price performance turns positive
The Web 2.0 public company universe rose this week, with 58% of companies seeing their market cap rise vs. 32% rising and 10% flat.
Web 2.0 Weekly - Aug. 10, 2010: "Consolidation by Google"David Shore
Deals (M&A, Finance) – Consolidation by Google
Google confirmed or announced two acquisitions during the week, including Jambool
($70 mm) involved in virtual goods monetization processes, and widget market, Slide
($182 mm).
In other acquisition-related news, Forbes sold investment media website Investopedia to ValueClick for $42 mm. Zynga acquired Japanese mobile app and game developer,
Unoh, for an estimated $29 mm. Finally, dubbed “the Spanish Facebook,” social
networking site, Tuenti, was acquired by Telefonica in a $99 mm deal.
The largest financing (aside from the aforementioned M&A activity) involved “the
Chinese Youtube,” Tudou, raising $50 mm in Series E funds.
Price Performance
Distinctly negative price momentum, with 49% of stocks falling over the past week (after 48% of stocks declines last week, and 51% declined the week prior).
The fourth week of April had only a marginal number of capital raises (four)
and not enough to push the month above March and February levels. Total
financings (month-to-date) were $102.3 million, with February and March
closing off at $185.5 mm and $159.5 mm, respectively. As of last week, a
total of 16 deals closed, with the $20 million raise by Collective Media and
$16 million by GOOM Radio being major contributors. Most of the companies in
our universe had positive stock price performances over the past week (for
stocks with prices greater than $1), with 22 companies showing positive
returns on the week. Modern Times Group Mtg AB (MTG B-OM) led the group with
a 27.7% return, while DigitalTown Inc. (DGTW-OTCBB) had the worst return,
dropping 21.7% in the week. Two companies had better than 20% price
increases last week.
Slow start in May after record April: Total transaction value (excluding M&A) in the Web 2.0 universe for April was $813.5 million - the highest monthly total we have recorded. The number of financings was also a record, at 49, averaging $16.6 million each. Note that this includes the $300 million investment in DST by Tencent. Excluding this transaction, the average is $10.7 million. May 2010, in contrast, has started slowly, with only $37.4 million in financing announced thus far, averaging just $3.4 million across 11 deals. In comparison, total capital raised in May 2009 was $375.0 million, averaging $12.5 million over 30 deals.
Deal round-up for May: The large deal highlights for the month include:
Fluid Music (TSX:FMN, digital music distributor) will acquire Mood Media (provider of sensorial marketing solutions) for €160 mm.
Lithium is purchasing analytics developer, Scout Labs, for $20 mm.
Fatfoogoo (purveyor of virtual goods) is being acquired by Digital River for $10 mm.
Groupalia, the Spanish answer to online group discount retailers, Groupon and LivingSocial, raised $2.5 mm in a Series A financing – the online group discounters have been raising money quickly (DST invested $135 mm in Groupon in April) with a total of $222 mm in funding coming to just these three players thus far.
Bearish week again: Price performance was largely negative in our Web 2.0 universe, with prices dropping for over 70% of the companies.
Financing activity continued to ramp up in April after a slow start to the month. Total financings (month-to-date) jumped to $92.2 million (this week) from $66.3 million (last week) – a significant +40%. As of last week, a total of 12 deals closed, with a $16 million raise by GOOM Radio being a major contributor. A total of four deals greater than $10 million each helped the overall statistics. Social Networking company DigitalTown Inc. (DGTW-OTCBB) was the top price performer for the week, returning 20%, closely followed by Kingsoft Co. Ltd. (3888-EHK) at 17.6%. The9 Ltd. (NCTY-NasdaqGS) had the worst return, dropping 27.6% in the week after news of its losing the license to operate World of Warcraft in China. Of the 34 companies (with stock price greater than $1), 10 companies on our list had price performances greater than +10%. Only one company returned more than
20%.
New royalty agreement for webcasting & copyright firms: SoundExchange, a nonprofit royalty collecting organization associated with the Recording Industry Association of America (RIAA) agreed this past week to a new deal regarding royalty rates for webcasting. Under the new agreement, large commercial webcasters will pay up to 25% of their revenue to copyright holders – well below the 70% that could have been imposed under an earlier deal. While the deal was initially agreed to by three smaller Internet radio webcasters, Pandora Media, the third largest radio site (according to Alexa), also indicated it would sign on to the agreement.
Online Media companies lead financing: Two online media companies – Pandora (Internet Radio) and QuickPlay (Mobile Video) have secured the largest financing transactions thus far in July ($35 million and $12 million respectively). Total capital raised so far in July is $66.1 million through eight transactions, averaging $8.3 million per transaction. June closed with $180 million in financing on 36 transactions. The averages for the months of May (excluding the Facebook transaction) and June were $6.4 million and $4.7 million, respectively.
A weak price performance week: The companies in our universe had weak stock price performances over the past week (for stocks with prices greater than $1) (Figure 6), with 30 companies showing negative returns on the week. Gravity (NasdaqGM: GRVY) led the group with a 33% return, while GungHo (3765-OSE) had the worst return, dropping 26.4% in the week.
Several of the largest MMOG companies reported their Q4/08 results over the past week; including Shanda, Netease,
and The9. The MMOG market continued to grow on a sequential basis in Q4.
Web 2.0 Weekly - June 22, 2010: "AOL Sells Bebo for Massive Loss"David Shore
Deals (M&A, Finance)
AOL is reported to have sold Bebo, the UK-based social network it bought just two years ago for $850 mm, to private equity firm Criterion Partners for under $10 mm. Based on our calculations, AOL paid the equivalent of $38 per Unique Visitor (UV) for Bebo, and sold it for under $1 per UV.
Positive price performance
The Web 2.0 public company universe rose again this week, with 60% of companies seeing their market cap rise vs. 33% falling and 7% flat.
June financing well ahead of average: Financing in the Web 2.0 universe in June was the third highest month (over the past 12) with total transaction value (excluding M&A) of $459.6 million from 51 transactions, averaging $9.0 million each - led by the $147 million Zynga financing. In comparison, total capital raised in June 2009 was $226.3 million, averaging $4.5 million over 50 deals. Excluding Dec 09 and Apr 10, the average monthly total is ~$260 million.
Deals (M&A, Finance)
Alloy, a provider of news and commentary concerning New Media, was acquired by ZelnickMedia for $127 mm.
Facebook’s implied valuation rose to $24 bn as Elevation Partners purchased 5 mm shares of the company for $120 mm in the secondary market.
Danish Skype competitor, Vopium, received $16.5 mm in financing from Indian financier, Raghuvinder Kataria.
Social networking software developer based in France, Pearltrees, raised $1.6 mm.
PapayaMobile, mobile application software company based in China, raised $4 mm.
Two Israeli mobile developers received funding this week, including Perfecto Mobile ($4 mm) and Snaptu ($6 mm).
Negative price performance
The Web 2.0 public company universe fell this week, with 68% of companies seeing their market cap fall vs. 25% rising and 7% flat.
Web 2.0 Weekly - July 27, 2010: "July Financings - Approaching High for 2010"David Shore
Deals (M&A, Finance)
Jive Software received the biggest investment of the week at $30 mm, bringing its total capital raised to date to $57 mm – the company brings social network-like functions to the realm of enterprise collaboration.
Advertising networks continue to receive the most attention among sectors we track – this week, $24.6 mm in financings were announced, including sports-related ad network Sportgenic (acquired by Glam Media for $12 mm), and TurnHere ($12.6mm in Series B funds).
Rumour alert – we continue to hear more frequent buzz concerning the potential acquisition of social gaming developer Playdom by Disney.
Synchronica (AIM:SYNC) intends to acquire iseemedia (TSXV:IEE) for C$8.8 mm in stock – both companies are engaged in mobile communications development, such as email-to-SMS.
Price performance turns positive
The Web 2.0 public company universe was positive this week, with 54% of companies seeing their market cap rise vs. 34% falling and 12% flat.
Web 2.0 Weekly - May 26, 2010: "Market Declines Impact Web 2.0 Universe Valua...David Shore
May tracking to average monthly levels: After a slow start to the month, financing in the Web 2.0 universe has rebounded and is now on track with prior months. Total transaction value (excluding M&A) in the Web 2.0 universe for May (month-to-date) is $189.9 million from 30 transactions, averaging $6.3 million each. In comparison, total capital raised in May 2009 was $375.0 million, averaging $12.5 million over 30 deals. Excluding May 09, Dec 09 and Apr 10, the average monthly total is $212 million.
Deals (M&A, Finance)
Cyberplex (TSX:CX) announced plans to acquire Tsavo Media for US$75.6 mm, partially funded through a C$30 mm bought deal financing at $0.55.
Online gaming company Gaikai, raised $10.0 mm in Series B financing.
Blip.TV, online TV provider, raised $10.1 mm in Series C financing.
Financial Results/Guidance
Netease.com (NasdaqGS:NTES, online gaming) reported Q1/F10 revenue of RMB 1.2 bn (vs. RMB 781.7 mm in the same period last year).
Snap Interactive (OTCBB:STVI, online dating) reported Q1/F10 revenue growth of 20% to $0.927 mm from $0.768 mm.
Bearish week again: Price performance was largely negative in our Web 2.0 universe. This impacted valuation multiples, which fell for ~80% of the companies in our universe.
Web 2.0 Weekly - Aug. 4, 2010: "Playdom is going to Disney World"David Shore
Deals (M&A, Finance) – Disney Gets In To Social/Mobile Video Games
Disney acquired social and mobile game developer, Playdom, for $563 mm in upfront consideration and the potential for $200 mm in further earn-out based consideration. Disney management notes that the company continues to be on the acquisition war path.
The largest deals in the week involved (wait for it…) the advertising sector, with $15 mm in follow-on financings to eXelate and AdMeld, and $8 mm to BuzzLogic.
Four different social network/media companies received financing in the week, including, Hot Potato (acquired for $10 mm by Facebook), PlacePop ($1.4 mm round), Rapportive ($1 mm seed round), and dating site, Triangulate ($0.75 seed round).
Price Performance - Web 2.0 Valuation Reverse Course and Head Upward
The Web 2.0 public company universe was positive this week with 47% of stocks rising, 46% falling, and 7% flat.
Google/Zynga deal drives July financing results: After starting very slowly (just one deal announced in the prior week) July financing increased substantially as a result of the Google/Zynga financing ($100-200 million). Total raised month-to-date is $158.8 million over 12 deals - averaging $13.2 million each. In comparison, total capital raised in July 2009 was $206.5 million, averaging $5.3 million over 39 deals. Excluding Dec 09 and Apr 10, the average monthly total is ~$280 million.
Deals (M&A, Finance)
Google invested a rumoured $100-$200 mm in social game developer, Zynga, bringing that company’s total funding to almost $500 mm (assuming the lower end of the range).
The Gaming sector remains hot – along with Google’s investment in Zynga, The9 Ltd. (Chinese online game developer and operator) invested $5 mm in Delaware-based Aurora Feint (focused on gaming for the mobile space).
A triad of financings in the Social Commerce space this week, including Beyond the Rack ($12 mm), ThredUP ($1.7 mm), and BuyWithMe ($16 mm in a Series B financing).
Sysomos, Canadian social media monitoring firm, was acquired by MarketWire for between $25 mm and $35 mm.
Price performance turns positive
The Web 2.0 public company universe rose this week, with 58% of companies seeing their market cap rise vs. 32% rising and 10% flat.
Web 2.0 Weekly - Aug. 10, 2010: "Consolidation by Google"David Shore
Deals (M&A, Finance) – Consolidation by Google
Google confirmed or announced two acquisitions during the week, including Jambool
($70 mm) involved in virtual goods monetization processes, and widget market, Slide
($182 mm).
In other acquisition-related news, Forbes sold investment media website Investopedia to ValueClick for $42 mm. Zynga acquired Japanese mobile app and game developer,
Unoh, for an estimated $29 mm. Finally, dubbed “the Spanish Facebook,” social
networking site, Tuenti, was acquired by Telefonica in a $99 mm deal.
The largest financing (aside from the aforementioned M&A activity) involved “the
Chinese Youtube,” Tudou, raising $50 mm in Series E funds.
Price Performance
Distinctly negative price momentum, with 49% of stocks falling over the past week (after 48% of stocks declines last week, and 51% declined the week prior).
The fourth week of April had only a marginal number of capital raises (four)
and not enough to push the month above March and February levels. Total
financings (month-to-date) were $102.3 million, with February and March
closing off at $185.5 mm and $159.5 mm, respectively. As of last week, a
total of 16 deals closed, with the $20 million raise by Collective Media and
$16 million by GOOM Radio being major contributors. Most of the companies in
our universe had positive stock price performances over the past week (for
stocks with prices greater than $1), with 22 companies showing positive
returns on the week. Modern Times Group Mtg AB (MTG B-OM) led the group with
a 27.7% return, while DigitalTown Inc. (DGTW-OTCBB) had the worst return,
dropping 21.7% in the week. Two companies had better than 20% price
increases last week.
Slow start in May after record April: Total transaction value (excluding M&A) in the Web 2.0 universe for April was $813.5 million - the highest monthly total we have recorded. The number of financings was also a record, at 49, averaging $16.6 million each. Note that this includes the $300 million investment in DST by Tencent. Excluding this transaction, the average is $10.7 million. May 2010, in contrast, has started slowly, with only $37.4 million in financing announced thus far, averaging just $3.4 million across 11 deals. In comparison, total capital raised in May 2009 was $375.0 million, averaging $12.5 million over 30 deals.
Deal round-up for May: The large deal highlights for the month include:
Fluid Music (TSX:FMN, digital music distributor) will acquire Mood Media (provider of sensorial marketing solutions) for €160 mm.
Lithium is purchasing analytics developer, Scout Labs, for $20 mm.
Fatfoogoo (purveyor of virtual goods) is being acquired by Digital River for $10 mm.
Groupalia, the Spanish answer to online group discount retailers, Groupon and LivingSocial, raised $2.5 mm in a Series A financing – the online group discounters have been raising money quickly (DST invested $135 mm in Groupon in April) with a total of $222 mm in funding coming to just these three players thus far.
Bearish week again: Price performance was largely negative in our Web 2.0 universe, with prices dropping for over 70% of the companies.
Financing activity continued to ramp up in April after a slow start to the month. Total financings (month-to-date) jumped to $92.2 million (this week) from $66.3 million (last week) – a significant +40%. As of last week, a total of 12 deals closed, with a $16 million raise by GOOM Radio being a major contributor. A total of four deals greater than $10 million each helped the overall statistics. Social Networking company DigitalTown Inc. (DGTW-OTCBB) was the top price performer for the week, returning 20%, closely followed by Kingsoft Co. Ltd. (3888-EHK) at 17.6%. The9 Ltd. (NCTY-NasdaqGS) had the worst return, dropping 27.6% in the week after news of its losing the license to operate World of Warcraft in China. Of the 34 companies (with stock price greater than $1), 10 companies on our list had price performances greater than +10%. Only one company returned more than
20%.
New royalty agreement for webcasting & copyright firms: SoundExchange, a nonprofit royalty collecting organization associated with the Recording Industry Association of America (RIAA) agreed this past week to a new deal regarding royalty rates for webcasting. Under the new agreement, large commercial webcasters will pay up to 25% of their revenue to copyright holders – well below the 70% that could have been imposed under an earlier deal. While the deal was initially agreed to by three smaller Internet radio webcasters, Pandora Media, the third largest radio site (according to Alexa), also indicated it would sign on to the agreement.
Online Media companies lead financing: Two online media companies – Pandora (Internet Radio) and QuickPlay (Mobile Video) have secured the largest financing transactions thus far in July ($35 million and $12 million respectively). Total capital raised so far in July is $66.1 million through eight transactions, averaging $8.3 million per transaction. June closed with $180 million in financing on 36 transactions. The averages for the months of May (excluding the Facebook transaction) and June were $6.4 million and $4.7 million, respectively.
A weak price performance week: The companies in our universe had weak stock price performances over the past week (for stocks with prices greater than $1) (Figure 6), with 30 companies showing negative returns on the week. Gravity (NasdaqGM: GRVY) led the group with a 33% return, while GungHo (3765-OSE) had the worst return, dropping 26.4% in the week.
Several of the largest MMOG companies reported their Q4/08 results over the past week; including Shanda, Netease,
and The9. The MMOG market continued to grow on a sequential basis in Q4.
Web 2.0 Weekly - July 20, 2010: "DST Cashing Up"David Shore
Large deals drive July financing to near record levels: With another huge financing (DST - see below) July financing is near record monthly levels. Total raised month-to-date is $742.6 million over 29 deals - averaging $25.6 million each. Excluding the Zynga ($100 million) and DST ($388 million) deals, the average deal size is $9.4 million. In comparison, total capital raised in July 2009 was $209.0 million, averaging $5.2 million over 40 deals. The monthly median total is ~$280 million with a median deal size of $8.1 million.
Deals (M&A, Finance)
Naspers, a South African media and print conglomerate, invested $388 mm in Digital Sky Technologies, the Russian digital media holding company with significant stakes in Facebook, Groupon, Mail.ru, and Zynga.
The next biggest raise of the week was Australian enterprise software developer, Atlassian, receiving $60 mm in Series A funds from Accel Partners.
Social Commerce continues to garner attention – this week BlueSwarm ($0.8 mm angel round) and Shopkick ($15 mm Series B round) raised money.
Another $31 mm in venture funds found their way to Advertising-related start-ups, including Israel-based Adsmarket ($17 mm), as well as a pair of India-based companies – Komli Media ($6 mm) and InMobi ($8 mm).
Price performance split
The Web 2.0 public company universe was split this week, with 48% of companies seeing their market cap fall vs. 43% rising and 9% flat.
Sebacia Inc.- Startup Company Venture Capital Financing Deal Terms & ValuationsVC Experts, Inc.
Deal Terms, Pricing, and Valuations of the latest financing rounds for medical startup company Sebacia, Inc. Similar data on thousands of private companies is available in the Valuation & Deal Term Database at http://vcexperts.com.
Summer financing doldrums: After a very strong June (with total transaction value (excluding M&A) of $542.8 million from 66 transactions, averaging $8.4 million each), July has started very slowly with only one small financing announced. However, we have seen some large M&A transactions (see below). In comparison, total capital raised in July 2009 was $206.2 million, averaging $5.4 million over 38 deals. Excluding Dec 09 and Apr 10, the average monthly total is ~$270 million.
Deals (M&A, Finance)
Google, acquired ITA Software, search provider for the travel industry for $700 mm.
infoGROUP, provider of business and consumer databases for sales leads, mailing lists, direct marketing, database marketing, e-mail marketing, and marketing research solutions, was taken private for $645 mm by CCMP Capital Advisers.
GroupSpaces, a provider of web-based tools for sports clubs, university societies, organizations, and groups of friends or coworkers, raised $1.3 mm.
Domain based online advertising services provider, OCTANE360, was acquired by Local.com for $10.9 mm.
Negative price performance
The Web 2.0 public company universe fell again this week, with 61% of companies seeing their market cap fall vs. 27% rising and 12% flat.
10 01 05 Web 2.0 Weekly Special EditionDavid Shore
TOP FIVE DEALS OF 2009
The Top Five: Despite over 400 transactions in 2009, it wasn’t hard choosing our Top Five transactions for 2009 (with a little bit of massaging). Our Top Five transactions are: Facebook’s $200 million D round, Twitter’s $100 million E round, the $2.25 billion acquisition of Skype, the almost $1 billion in financing/M&A for Social Gaming companies (including Zynga, Playdom and Playfish), and the incredible per unique visitor value ascribed in the financing for location-based social networking company Gowalla.
• Facebook raises $200 million D round: In May 2009, Facebook announced a new financing round – raising $200 million from Digital Sky Technologies. The transaction gave Digital Sky a 1.96% stake, valuing Facebook at $10 billion. This financing brought the company’s total to $678.2 million. This was also the largest financing we recorded in 2009.
• Twitter raises $100 million E round: The third largest financing round in 2009 belonged to Twitter – a $100 million Series E in September 2009. The financing reportedly valued Twitter at $1 billion – a remarkable valuation for a company that has not yet formalized a revenue model! More recently, it has been reported that Twitter was actually profitable in 2009 due to the $25 million in search deals it signed in October with Google and Microsoft.
• Skype is acquired for $2.025 billion: By far the largest overall transaction in our database in 2009 was the acquisition of a majority position (65%) in Skype from eBay for $2.025 billion – announced in September 2009. The transaction was completed in November 2009. eBay had purchased Skype for $4.0 billion in 2005.
• Social Gaming financing activity reaches ~$1 billion (Zynga, Playfish, Playdom, etc.): Perhaps the hottest sector overall in 2009 was Social Gaming. This segment of the Web 2.0 market had the third highest number of deals (39) and generated almost $1 billion in financing/M&A activity – the second highest total overall (Figure 1). Three transactions in particular stand out in the social gaming space – the $400 million acquisition of Playfish (by Electronic Arts, November 2009), the $180 million financing of Zynga (Series C, December 2009, by Digital Sky), and the $43 million first round of financing for Playdom (New Enterprise lead, November 2009, Series A). There has been much speculation as to how the larger social gaming companies will proceed, with potential IPO or further strategic M&A most likely.
• Hottest new sector? Location-based social networks (Foursquare, Gowalla, etc.). Unique visitor value skyrockets: Financing activity for location-based social networks really heated up late in 2009. While the total financing raised in 2009 was quite small (~$15 million), the hype surrounding location-based SNS companies was substantial. In our opinion, this was highlighted by the $8.4 million December Series B financing for Gowalla. The reported valuation of $28.4 million implies a value of $568 for each of its 50,000 users (Figure 2). That compares to a $40 per user value we estimate for the Foursquare financing in September.
*Capital Market Activity: *The month of May closed with 20 financings
totalling $327.1 million led by the $200 million investment by Digital Sky
Technologies in Facebook. Excluding the Facebook transaction, May would have
been the lowest month in CY2009. The Facebook transaction aside, four
transactions (One Net Ent., Cyberplex, Peer39 and OpenX), were greater than
or equal to $10 million. The average value in May is $15.6 million (and $6.4
million excluding the Facebook transaction), greater than the average value
for April of $6.2 million on 21 financings. The March average was $6.5
million on 24 financings. If you are aware of any companies that have
recently raised money that are not on our list, please send me an email to
have them added to our database.
*Price Performance: *Most of the companies in our universe had positive
stock price performances over the past week (for stocks with prices greater
than $1) (Figure 12), with 29 companies showing positive returns on the
week. GameOn co. Ltd (3812-TSE) led the group with a 28.2% return, while
eolith Co. Ltd. (A041060-KOSE) had the worst return, dropping 13.7% in the
week.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
when will pi network coin be available on crypto exchange.
Web 2.0 Weekly - 09-05-26
1. SOFTWARE & SERVICES 26 MAY 2009
DAVID SHORE, CFA, MBA 416.860.6784
WEB 2.O WEEKLY david.shore@researchcapital.com
Arun Thomas (Associate) 416.860.7666
AVERAGE VALUATIO NS DRIFT LOWER
A VE R AG E F I NA N CI NG D R OP S B EL O W $ 6 M M DE S P IT E $2 0 M M O N E N ET F IN AN CI NG
Month-to-date financings in May totalled $106.6 million; led by the $20 million One Net financing. So far, there have
been 18 financings in May, with 10 deals greater than $5 million and only five less than $5 million. There have been
two financings greater than $10 million (Cyberplex and One Net), with the capital raises by Imeem and EveryZing
close behind at $8.8 million and $8.3 million, respectively. The average value thus far in May is $5.9 million, slightly
below the average value for April of $6.5 million on 21 financings. The March average was $6.6 million on 24
financings. Except for two deals (Kaixin001.com and Collective Media), all were below $20 million for the last three
months and a total of four deals were greater than or equal to $15 million.
Financing Activity Last Three Months
180.0 7.0
160.0
6.0
140.0
5.0
120.0
4.0
100.0
(US$m)
(US$m)
80.0
3.0
60.0
2.0
40.0
1.0
20.0
0.0 0.0
Mar-09 Apr-09 May-09
Total Average
One Net’s $20 million financing is largest deal in May: One Net announced a $20 million financing last week, the
largest deal so far in May. Ten of the 18 deals in the month are equal to or greater than $5 million. For additional
details, see Figures 23 and 24 (at end of note). Also note that the spin-off of StumbleUpon from E-bay on a $29
million valuation occurred in May. E-bay had bought StumbleUpon for $75 million.
A strong price performance week: The companies in our universe had relatively strong stock price performances
over the past week (for stocks with prices greater than $1) (Figure 6), with 31 companies showing positive returns on
the week. OpenW ave Systems (NASDQ:OPW V) led the group with a 49.2% return, while DigitalTown (OTCBB:DGTW )
had the worst return, dropping 35.0% in the week.
This report has been created b y Anal ysts that are emplo yed b y Research Capital Corporation, a Canadian Investment Dealer.
For further disclosures, please see last page of this report.
w w w . r e s e a rc h c a p i t a l . c o m
T o ro n t o 4 1 6 . 8 6 0 . 7 6 0 0 Montreal 514.399.1500 Vancouver 604.662.1800 Calgary 403.265.7400 Regina 306.566.7550
2. Page 2
THE WEB 2.0 UNIVERSE
Ninety-three public Web 2.0 companies = $50 billion market cap: Our W eb 2.0 universe contains 93 companies, with a
combined market cap of approximately $49.4 billion (Figure 1). The average market cap for the group is ~$530 million (but
a median of only $53 million), with average trailing revenue of $152 million (median $54 million). The companies are also
generally profitable, with a median EBITDA margin of 17%. On a valuation basis, the overall average is 5.4x trailing
revenue (median 1.8x) and 9.3x trailing EBITDA (median 8.6x). Fourteen of the companies have more than 500
employees.
C omparable C ompany Analys is > Web 2.0
Trading C urrent US D Market US D L TM Total US D L TM Total E B ITDA TE V/L TM TE V/L TM
C ompany Name L TM as of Tic ker E xchange C urrency HQ Pric e C ap ($m) R ev ($m) E B ITDA ($m) % R evenue E B ITDA E mployees
Accelerize New Media, Inc. 3/31/2009 AC LZ OT C BB US D U nited S tates 0.52 14.4 4.1 (4. 4) NM 4. 7x - 11
Actoz S oft C o., L td. 12/31/2008 A052790 K OS E KRW S outh K orea 21, 750 149.0 74.9 14.9 20.0% 1. 6x 8. 1x NA
AQ Interactive, Inc. 12/31/2008 3838 TS E JPY J a pa n 67, 000.00 38.4 63.5 5. 1 8. 0% 0. 1x 1. 6x NA
As s ocia ted Media Holdings Inc. 6/30/2007 AS MH OT C P K US D U nited S tates 0 0.1 0.1 (2. 3) NM 8. 1x - 3
B igs tring C orp. 12/31/2008 BS GC OT C BB US D U nited S tates 0.02 1.2 0.1 (2. 1) NM 31.7x - 4
B etawa ve C orpora tion 3/31/2009 B W AV OT C BB US D U nited S tates 0 2.6 8.4 (12.6) NM - - 53
B eyond C ommerce, Inc. 3/31/2009 B YOC OT C BB US D U nited S tates 1.15 51.0 7.1 (9. 5) NM 7. 8x - 43
B right T hings plc 9/30/2008 AIM:B G T AIM GBP U nited K ingdom 0 4.7 0.3 (1. 8) NM 17.6x - 9
B roadW ebAs ia Inc. 9/30/2008 BWBA OT C P K US D U nited S tates 0.30 25.3 0.0 (4. 6) NM - - 46
C DC C orp. 3/31/2009 C HIN.A Nas da qG S US D Hong K ong 1 151.7 389.9 30.8 7. 9% 0. 4x 5. 4x NA
C ha ngyou.com L imited 3/31/2009 C YOU Nas da qG S US D C hina 29.01 1,595. 6 222.5 135.1 60.7% 6. 3x 10.4x 628
C hina G ateway C orporation 9/30/2008 CGWY OT C P K US D U nited S tates 0 0.0 6.7 (6. 6) -98. 9% 0. 0x - 37
C hines e G a mer Interna tional 3/31/2009 G T S M:3083 GTS M TWD T aiwan 378.00 974.9 56.6 31.7 56.0% 16.0x 28.6x NA
C ornerW orld C orpora tion 1/31/2009 CWR L OT C BB US D U nited S tates 0 5.8 1.3 NM NM 5. 5x - NA
C yberplex Inc. 3/31/2009 T S X :C X TS X C AD C ana da 1.74 82.9 72.5 7. 5 10.3% 1. 1x 10.5x NA
DADA S pA 9/30/2008 C M:DA CM E UR Italy 6 134.5 237.4 37.9 16.0% 0. 8x 4. 9x NA
DX N Holdings B hd 2/28/2009 DX N K LS E MY R Malays ia 0.41 26.8 79.3 10.9 13.7% 0. 5x 3. 9x NA
Dibz International, Inc. NA DIB Z OT C P K US D U nited S tates 0 0.0 NA NM NM - - NA
Digita lP os t Interactive, Inc. 12/31/2008 DG LP OT C BB US D U nited S tates 0.02 1.4 0.5 (3. 2) NM 5. 6x - 7
Digita lT own, Inc. 2/28/2009 DG T W OT C BB US D U nited S tates 1 35.2 NM (3. 0) NM - - 3
Dolphin Digital Media, Inc. 3/31/2009 DP DM OT C BB US D U nited S tates 0.68 35.1 0.8 (3. 7) NM 46.8x - NA
E olith C o. Ltd. 12/31/2008 A041060 K OS E KRW S outh K orea 840 48.6 14.8 (3. 5) -23. 6% 3. 4x - NA
E xtens ions , Inc. 12/31/2008 E XT I OT C P K US D U nited S tates 0.15 14.2 NM NM NM - - 2
F ina ncial Media G roup, Inc. 2/28/2009 F NG P OT C BB US D U nited S tates 0 0.3 7.2 2. 4 34.1% - - 22
F luid Mus ic C anada, Inc. 12/31/2008 T S X :F MN TS X C AD U nited S tates 0.75 35.0 4.6 (9. 3) NM 5. 3x - NA
F rogs ter Interactive P ictures AG 6/30/2008 FRG XT R A E UR G erma ny 8 26.2 5.6 (3. 4) -60. 6% 4. 6x - NA
G amania Digita l E ntertainment C o., L td. 3/31/2009 6180 GTS M TWD T aiwan 52.80 245.8 127.1 21.1 16.6% 1. 8x 10.5x NA
G ameO n C o Ltd. 12/31/2008 3812 TS E JPY J a pa n 96, 700 98.5 78.6 20.3 25.9% 0. 5x 2. 0x NA
G eoS entric O yj 12/31/2008 G E O 1V HLS E E UR F inla nd 0.05 62.7 6.1 (13.8) NM 8. 9x - 94
G ia nt Intera ctive G roup, Inc. 12/31/2008 GA NY S E US D C hina 8 1,866. 8 233.6 144.6 61.9% - - NA
G igaMedia Ltd. 12/31/2008 G IG M Nas da qG S US D T aiwan 5.95 321.5 190.4 46.0 24.2% 1. 3x 5. 3x NA
G ravity C o., Ltd 9/30/2008 GR VY Nas da qG M US D S outh K orea 1 32.8 39.3 7. 5 19.2% - - 636
G ree, Inc. 6/30/2008 T S E :3632 TS E JPY J a pa n 5, 300.00 1,247. 3 31.0 11.1 36.0% 37.6x - NA
G ungHo Online E ntertainment, Inc. 12/31/2008 3765 OS E JPY J a pa n 155, 000 187.1 118.5 21.1 17.8% 1. 4x 7. 8x NA
HanbitS oft, Inc. 12/31/2008 A047080 K OS E KRW S outh K orea 5, 520.00 97.1 55.8 (15.7) -28. 2% 1. 4x - NA
IAC /InterActiveC orp. 3/31/2009 IAC I Nas da qG S US D U nited S tates 15 2,334. 7 1,406.4 42.6 3. 0% 0. 3x 10.5x 3, 200
IAS E nergy, Inc. 1/31/2009 IAS C . A OT C BB US D C ana da 0.26 18.2 0.0 (0. 8) NM - - NA
is eemedia Inc. 12/31/2008 IE E T S XV C AD C ana da 0 4.1 1.3 (5. 3) NM 1. 8x - NA
J umbuck E nterta inment P ty Ltd. 12/31/2008 AS X :J MB AS X AU D Aus tralia 0.41 15.9 14.0 5. 2 37.2% 0. 8x 2. 1x 72
J umpT V Inc. 12/31/2008 T S X :J T V TS X C AD C ana da 1 80.9 13.4 (8. 4) -62. 6% 4. 7x - 237
K a boos e Inc. 3/31/2009 T S X :K AB TS X C AD C ana da 0.61 75.9 73.2 8. 7 11.9% 1. 1x 9. 3x NA
K ings oft C o. L td. 12/31/2008 3888 S E HK HK D C hina 6 783.0 120.3 46.6 38.7% 6. 2x 15.9x 2, 271
L ingo Media C orporation 12/31/2008 T S X V :LM T S XV C AD C ana da 1.05 12.0 0.9 (1. 5) NM 11.6x - NA
L iveW orld Inc. 12/31/2008 LV W D OT C P K US D U nited S tates 0 2.2 11.8 (0. 5) -4.3% 0. 1x - NA
L ook S mart, Ltd. 3/31/2009 L OO K Nas da qG M US D U nited S tates 1.28 21.9 60.7 (3. 8) -6.3% - - 90
Ma gnitude Information S ys tems Inc. 12/31/2008 MAG Y OT C BB US D U nited S tates 0 4.6 0.1 (3. 0) NM - - 14
Mixi, Inc. 3/31/2009 2121 TS E JPY J a pa n 470, 000.00 761.4 127.0 45.0 35.4% 5. 1x 14.3x NA
Modern T imes G roup Mtg AB 3/31/2009 MT G B OM SEK S weden 221 1,938. 6 1,796.0 275.1 15.3% 1. 4x 9. 1x 2, 969
Moggle, Inc 3/31/2009 MMO G OT C BB US D U nited S tates 2.30 83.5 NM NM NM - - 3
MO K O .mobi L imited 12/31/2008 MK B AS X AU D Aus tralia 0 4.1 1.1 (2. 3) NM 2. 6x - NA
Myriad G roup AG 12/31/2008 MY R N SWX C HF S witzerla nd 6.00 118.0 40.0 0. 8 1. 9% 3. 3x - 405
NE O W IZ G a mes C orporation 12/31/2008 A095660 K OS E KRW S outh K orea 77, 500 598.5 198.7 53.3 26.8% 3. 0x 11.0x NA
NetDragon W ebS oft, Inc. 3/31/2009 777 S E HK HK D C hina 5.45 371.6 87.1 34.4 39.5% 2. 7x 6. 8x 2, 426
Netea s e. com Inc. 3/31/2009 NT E S Nas da qG S US D C hina 33 4,030. 0 471.1 306.2 65.0% - - NA
NeX plore C orpora tion 9/30/2007 NX P C OT C P K US D U nited S tates 0.70 39.0 NM (4. 9) NM - - 19
Ngi G roup Inc. 12/31/2008 2497 TS E JPY J a pa n 34, 000 44.3 103.6 31.9 30.8% - - NA
Northgate T echnologies Limited 12/31/2008 590057 BSE INR India 37.00 27.3 142.5 25.1 17.6% 0. 2x 1. 1x 286
O pen T ext C orp. 3/31/2009 OT E X Nas da qG S US D C ana da 32 1,657. 6 782.6 199.2 25.5% 2. 2x 8. 7x 3, 400
O penwa ve S ys tems Inc. 3/31/2009 OP W V Nas da qG S US D U nited S tates 1.79 149.1 197.2 (2. 1) -1.0% 0. 2x - 630
P erfect W orld C o., Ltd. 3/31/2009 PWRD Nas da qG S US D C hina 19 1,020. 3 228.4 124.7 54.6% - - NA
P hotoC hannel Networks Inc. 3/31/2009 T S X V :P N T S XV C AD C ana da 1.71 52.0 19.3 0. 5 2. 3% 2. 6x - NA
Q uepa s a C orp. 3/31/2009 QP S A Nas da qC M US D U nited S tates 1 12.2 0.1 (10.8) NM - - 74
O AO R B C Information S ys tems 12/31/2007 R BCI R TS US D R us s ia 1.25 173.4 152.8 20.0 13.1% 0. 0x 0. 3x NA
S handa Intera ctive E ntertainment Ltd. 12/31/2008 S NDA Nas da qG S US D C hina 55 3,811. 2 522.8 240.2 46.0% 0. 3x 0. 6x NA
S hutterfly, Inc. 3/31/2009 S FLY Nas da qG S US D U nited S tates 14.29 359.7 215.2 28.3 13.2% 1. 4x 10.4x 514
S K C ommunications C o. , Ltd. 12/31/2008 A066270 K OS E KRW S outh K orea 10, 200 336.5 184.7 12.0 6. 5% 1. 8x 28.0x NA
S NAP Interactive, Inc. 3/31/2009 S TVI OT C BB US D U nited S tates 0.75 8.1 3.3 0. 9 28.0% 2. 0x 7. 2x 11
S NM G lobal Holdings 9/30/2008 S NMN OT C P K US D U nited S tates 0 0.0 2.0 (0. 7) -34. 8% 1. 1x - 33
S ocia l Media V enures , Inc. 12/31/2008 S MV I OT C P K US D U nited S tates 0.01 0.0 0.1 (0. 1) -60. 5% 0. 0x - NA
S ocia lwis e, Inc. 3/31/2009 S C LW OT C BB US D U nited S tates 1 32.1 0.0 (4. 8) NM - - NA
S ohu. com Inc. 3/31/2009 S O HU Nas da qG S US D C hina 54.24 2,075. 4 460.0 200.5 43.6% 3. 7x 8. 5x 3, 197
S ites earch C orporation 1/31/2009 S TPC OT C BB US D U nited S tates 3 28.2 NM (1. 1) NM - - 15
S park Networks , Inc. 3/31/2009 L OV AME X US D U nited S tates 2.25 46.3 54.3 11.8 21.7% 0. 9x 4. 0x 183
S pectrumDNA, Inc. 3/31/2009 S P XA OT C BB US D U nited S tates 0 19.5 0.1 (2. 6) NM - - 7
T encent Holdings Ltd. 3/31/2009 700 S E HK HK D C hina 78.25 18,192.6 1,205.0 577.4 47.9% 16.4x 34.1x 6, 194
T he P a rent C ompany 8/2/2008 K IDS . Q OT C P K US D U nited S tates 0 0.2 112.0 (13.5) -12. 0% 0. 2x - 347
T he9 Limited 12/31/2008 NC T Y Nas da qG S US D C hina 8.97 240.6 250.2 84.3 33.7% - - NA
T heS treet. com, Inc. 3/31/2009 TS CM Nas da qG M US D U nited S tates 2 58.2 67.0 1. 9 2. 9% - - 310
T otal S port O nline AS 3/31/2006 T OS O O T C NO NO K Norwa y 0.03 0.1 2.1 (1. 1) -50. 6% 4. 6x - 16
T ree.C om, Inc. 3/31/2009 TR E E Nas da qG M US D U nited S tates 12 131.7 215.6 (13.3) -6.2% 0. 6x - 700
U nis erve C ommunica tions C orp. 2/28/2009 T S X V :U S S T S XV C AD C ana da 0.05 1.1 23.2 0. 1 0. 2% 0. 2x - NA
U nited O nline Inc. 3/31/2009 U NT D Nas da qG S US D U nited S tates 7 548.3 811.2 177.3 21.9% 1. 0x 4. 7x 1, 469
U O MO Media, Inc 1/31/2009 U O MO OT C BB US D C ana da 0.33 28.3 0.6 (0. 5) -78. 2% 45.0x - NA
V a lueC lick Inc. 3/31/2009 V C LK Nas da qG S US D U nited S tates 10 872.3 591.7 105.5 17.8% 1. 3x 7. 3x 1, 189
V O IS , Inc. 12/31/2008 V O IS OT C BB US D U nited S tates 0.90 7.5 0.0 (1. 3) NM - - 4
W ebzen Inc. 3/31/2009 W ZE N Nas da qG M US D S outh K orea 5 53.8 23.1 (0. 4) -1.9% - - 314
W izza rd S oftwa re C orporation 12/31/2008 W ZE AME X US D U nited S tates 0.57 27.2 6.1 (6. 0) -98. 2% 4. 5x - 110
W orlds .com Inc. 12/31/2008 W DDD OT C BB US D U nited S tates 0 7.9 0.1 (0. 7) NM - - 1
W ynds torm C orpora tion NA W Y ND OT C BB US D U nited S tates 0.51 9.2 NA NM NM - - NA
X ING AG 3/31/2009 O 1B C XT R A E UR G erma ny 33 240.4 53.0 16.5 31.2% 3. 6x 11.4x 239
Y eda ngOnline C orp. 12/31/2007 A052770 K OS E KRW S outh K orea 10, 800.00 136.0 55.0 12.3 22.4% 2. 5x 11.0x NA
Y nk K orea Inc. 12/31/2007 A023770 K OS E KRW S outh K orea 7, 910 15.6 15.6 (1. 2) -7.6% 1. 0x - NA
ZipL ocal Inc. 12/31/2008 T S X V :ZIP T S XV C AD C ana da 0.01 0.7 2.9 (3. 1) NM 0. 7x - NA
High 18,192.6 1,796. 0 577.4 65.0% 46.8x 34.1x 6,194
L ow 0.0 0.0 -15.7 -98. 9% 0. 0x 0. 3x 1
Average 530.5 151.9 34.6 8.7% 5.4x 9.3x 664
Media n 52.9 54.3 0.9 17.1% 1. 8x 8. 6x 238
Figure 1. Web 2.0 Universe Summary
Source. Capital IQ
3. Page 3
C A P I T A L M A R K E T S A C T I V I T Y (M & A A N D F I N A N C I N G )
Financing activity in May lags: Month-to-date financings in May totalled $106.6 million, led by the $20 million One Net
financing. So far, there have been 18 financings in May, with 10 deals greater than $5 million and only five less than $5
million. There have been two financings greater than $10 million (Cyberplex and One Net), with the capital raises by
Imeem and EveryZing close behind at $8.8 million and $8.3 million, respectively. The average value thus far in May is $5.9
million, slightly below the average value for April of $6.5 million on 21 financings. The March average was $6.6 million on
24 financings. Except for two deals (Kaixin001.com and Collective Media), all were below $20 million for the last three
months and a total of four deals were greater than or equal to $15 million.
Financing Activity Last Three Months
180.0 7.0
160.0
6.0
140.0
5.0
120.0
4.0
100.0
(US$m)
(US$m)
80.0
3.0
60.0
2.0
40.0
1.0
20.0
0.0 0.0
Mar-09 Apr-09 May-09
Total Average
Figure 2. Financings, Last Three Months
Source. Company reports
One Net’s $20 million financing is largest deal in May: One Net announced a $20 million financing last week, the largest
deal so far in May. Ten of the 18 deals in the month are equal to or greater than $5 million. For additional details, see
Figures 23 and 24 (at end of note). Also note that the spin-off of StumbleUpon from E-bay on a $29 million valuation
occurred in May. E-bay had bought StumbleUpon for $75 million.
4. Page 4
Financing & M/A Summary - Last Three Months
35.0
30.0
25.0
20.0
May-09
(US$m)
Apr-09
Mar-09
15.0
10.0
5.0
0.0
Pixazza
Cyberplex
Socialtext
Mixercast
OLX
Collective
GOOM Radio
Vidyo
Marin Software
Miva
EveryZing
I Love
Greystripe
Viximo
IMShopping
AnySource
Tribal Nova
VoxPop
Myngle
Mo'Minis
Kaixin001.com
Buzznet
SendMe Inc.
DoubleTwist
Tynt
OMGPOP
TubeMogul
The Rubicon
LendingClub
Auditude
Cellufun
Glam Media
Visible
Batanga
DocuSign
Apture
SoundCloud
Tripbase
Hunch
Resonate
AdultSpace
Jodange
Foodista
Azuki Systems
Medialets
Bit.ly
Brandtology
Loop'd Network
Three Melons
One Net
Conductor Inc.
SuperSecret
ScanScout
BlogHer Inc.
Gist
Fuhu Inc.
Socialcast
Scan & Target
GoViral
StumbleUpon
TimeBridge
Sports
33Across
Simulmedia
Imeem
FreeWheel
Figure 3. Capital Market Activity, Last Three Months
Source. Company reports
Ad Network remains the most active sector: Activity over the last three months was busiest in the Ad Network sector,
with 10 companies raising over $78.7 million (Figure 4). The Media sector has the next highest totals, with eight
companies raising $63.4 million. The following sectors continue to generate the most capital activity over the last few
months: Ad Network, Media, Gaming, Video, and Social Networks.
5. Page 5
Capital Market Activity by Sector - Last Three Months
90.0
80.0
70.0
60.0
50.0
(US$m)
40.0 78.7
63.4
30.0
50.6 49.5 49.3
20.0
30.2
10.0 18.3
14.4 12.0 12.0 10.4 8.9 7.5 7.0 6.8 5.9 5.5 5.0 4.7 4.1 3.1 2.0 2.0 2.0 1.3 1.3
0.0 0.6
Comment/Reputation
Social Commerce
Gaming
Visual Commerce
Travel
Wiki
Media
Mobile
Enterprise
Collaboration
Publishing
Microblog
Online Learning
Widget
Search
Lending
Infrastructure
Blog
Mobile Ad
Social Networks
SAS
Video
Virtual World
Aggregation
Crowdsourced
Ad Network
Analytics
Content
# companies
10 8 9 5 7 2 2 3 1 1 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Figure 4. Capital Market Activity, by Sector, Last Three Months
Source. Company reports
C A P I T A L M A R K E T S A C T I V I T Y (P R I C E P E R F O R M A N C E )
Web 2.0 index outpaces NASDAQ recovery: Our W eb 2.0 index (market-cap weighted) essentially mirrored the
performance of the NASDAQ composite index from mid-2008 until recently. However, the index has recently had a much
stronger recovery relative to the NASDAQ index (Figure 5).
6. Page 6
Web 2.0 Index Price Performance
120
100
80
60
40
20
0
5/27/2008
6/10/2008
6/24/2008
7/8/2008
7/22/2008
8/5/2008
8/19/2008
9/2/2008
9/16/2008
9/30/2008
10/14/2008
10/28/2008
11/11/2008
11/25/2008
12/9/2008
12/23/2008
1/6/2009
1/20/2009
2/3/2009
2/17/2009
3/3/2009
3/17/2009
3/31/2009
4/14/2009
4/28/2009
5/12/2009
^COMP - Share Pricing Index: Web 2.0 X (Market Cap)
Figure 5. Web 2.0 Price Performance
Source. Capital IQ
A strong price performance week: The companies in our universe had relatively strong stock price performances over
the past week (for stocks with prices greater than $1) (Figure 6), with 31 companies showing positive returns on the week.
OpenW ave Systems (NASDQ:OPW V) led the group with a 49.2% return, while DigitalTown (OTCBB:DGTW ) had the worst
return, dropping 35.0% in the week.
7. Page 7
1 Week P rice P erformance
Openw ave S y s tems Inc. 49.2%
Webz en Inc. 45.8%
A ctoz S of t Co., Ltd. 45.0%
Chines e Gamer International 39.7%
Gamania Digital Entertainment Co., 34.4%
A Q Interactiv e, Inc. 27.6%
G ravity Co., Ltd 20.4%
NEOWIZ Games Corporation 20.2%
K ings of t Co. Ltd. 18.1%
S handa Interactive Entertainment Ltd. 13.3%
CDC Corp. 11.7%
Ngi G roup Inc. 11.7%
Mix i, Inc. 11.4%
My riad Group A G 9.1%
S K Communications Co., Ltd. 8.5%
Neteas e.com Inc. 7.6%
Perfect World Co., Ltd. 7.3%
XING A G 5.9%
G ameOn Co Ltd. 5.3%
S hutterf ly , Inc. 3.9%
Tree.Com, Inc. 3.7%
IA C/InterA ctiveCorp. 3.5%
Y edangOnline Corp. 3.3%
S ohu.com Inc. 3.2%
Y nk K orea Inc. 2.7%
TheS treet.com, Inc. 2.7%
HanbitS of t, Inc. 2.4%
Open Tex t Corp. 1.2%
PhotoChannel Netw orks Inc. 0.6%
Giant Interactive G roup, Inc. 0.2%
G igaMedia Ltd. 0.2%
V alueClick Inc. -0.5%
Cy berplex Inc. -0.6%
United Online Inc. -0.9%
LookS mart, Ltd. -1.5%
Changy ou.com Limited -2.3%
Tencent Holdings Ltd. -2.8%
The9 Limited -3.1%
DA DA S pA -3.3%
G ree, Inc. -3.5%
NetDragon WebS of t, Inc. -4.4%
Modern Times G roup Mtg A B -4.5%
Frogs ter Interactiv e Pictures A G -6.5%
B ey ond Commerce, Inc. -7.3%
Lingo Media Corporation -8.7%
S park Netw orks , Inc. -10.7%
GungHo Online Entertainment, Inc. -10.8%
Eolith Co. Ltd. -16.0%
Northgate Technologies Limited -31.0%
DigitalTow n, Inc. -35.0%
-40.0% -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%
Figure 6. 1-Week Price Performance
Source. Capital IQ
8. Page 8
INDUSTRY NEWS (PARTNERSHIPS, FINANCIAL RESULTS, NEW PRODUCTS)
K ey Developments
C ompany Headline Notes
GigaMedia L td. (Nas daqGS : G IG M) G igaMedia Ltd. Appoints Michael Ding as C hairman G iga Media L td. a nnounced that board member Michael Ding ha s been appointed C ha irma n of the board by the directors . Michael Ding
became a member of the compa ny's boa rd in J uly 2003 and wa s appointed non-E xecutive C hairma n of the company by the boa rd of
directors on Ma y 14, 2009.
VOIS , Inc. (OTC B B : VOIS ) V O IS Inc. Announces E a rnings R es ults for the S econd V OIS Inc. a nnounced ea rnings res ults for the s econd quarter ended March 31, 2009. F or the quarter, the compa ny reported net los s of
Quarter E nded Ma rch 31, 2009 $153, 685. In contra s t, the company pos ted a net los s of $478,680 for the s ame qua rter in the previous yea r.
S NAP Interactive, Inc . (OTC B B : S TVI) S NAP Intera ctive Inc. R eports Una udited C ons olida ted S NAP Intera ctive Inc. reported unaudited cons olidated ea rnings res ults for the firs t qua rter ended March 31, 2009. R evenue for the three
E a rnings R es ults for the F irs t Q ua rter E nded Ma rch 31, months ended Ma rch 31, 2009 wa s $768, 972, a s compa red to $519, 902 for the three months ended March 31, 2008, a 48% increa s e. T hes e
2009 revenues a re primarily generated from advertis ements a nd premium features pla ced on various applica tions . T he yea r-on-yea r increas e in
revenue wa s primarily due to increa s ed a ctivity on a pplica tions as well as the introduction of revenue-generating premium fea tures . T he
company's revenue of $768, 972 for the three months ended March 31, 2009 repres ented a 29% decreas e as compa red to revenue of
$1, 087, 144 for the quarter ending December 31, 2008. T he decrea s e in s equential quarterly revenue was largely due to the declining s ta te of
the a dvertis ing ma rket a nd the as s ociated declining payouts . Net income for the three months ended March 31, 2009 was $66,472 or $0. 01
per diluted s hare a s compa red to net income of $190, 509 or $0. 02 per diluted s hare for the quarter ended Ma rch 31, 2008, a 65% decreas e.
T he decreas e in net income wa s primarily due to the provis ion for income ta xes which were not paid during the s a me period la s t year due to a
XING AG (XTR A: O1B C ) XING La unches F irs t OpenS ocial Applica tions X ING has la unched its firs t O penS ocia l a pplica tions --'XING News ' a nd 'As k XING '--as beta vers ions . T he compa ny is adopting a viral
a pproach here, allowing the s ocia l a pplica tions to dis tribute throughout the network. B eta tes ters ' profiles and information about their
a ctivities in the 'W ha t's new in my network' ticker let other members know tha t they are us ing the a pps and how they a re us ing them--
prompting other members to dis cover the new fea tures a nd ins ta ll them for thems elves . In the firs t five da ys s ince the la unch, the number of
beta tes ters ros e from a round 200 to more than 30, 000, res ulting in a record high in the level of tra ffic on the XING webs ite.
S oc ialwis e, Inc . (OTC B B : S C L W) S ocia lwis e La unches Unique O nline P ayment S ys tem for S ocia lwis e Inc. la unched B illMyP a rents , a n innova tive online youth pa yment s ys tem tha t gives teens the freedom to s hop online and pa rents
T eens a nd P arents the control over thes e purchas es , a ll in a s imple, automated s ys tem tha t keeps credit ca rd numbers a nd other pers ona l informa tion s afe and
s ecure. T he B illMyP a rents payment s ys tem pla tform addres s es this unta pped teen s pending ma rket with a multifa ceted a pproach to online
payment proces s ing for teens a nd tweens , and gives them a n ea s y wa y to purchas e products online without a credit ca rd. Us ing the
B illMyP a rents button at the point of s a le, teens ca n initiate a purcha s e in s econds . P a rents complete the purchas e a t their convenience
through a s imple, eas y to us e a nd automated s ys tem ena bled by ins ta nt ema il a nd text notifications . At la unch, the B illMyP arents pa yment
s ys tem pla tform includes : B illMyP arents S hopping e-commerce s ite: T o give teens immediate acces s to more than a million products ,
B illMyP a rents has la unched a s hopping s ite powered by Ama zon. com through their as s ociate program. T he B illMyP arents S hopping s ite
gives teens and tweens a cces s to the entire inventory a vaila ble online on Ama zon.com, without needing a credit card to make purchas es . T ee
P erfect W orld C o., L td. Upda te to P erfect W orld C o., L td. ’s E quity B uyback on As of Ma y 17, 2009, the company has repurcha s ed 1,683, 192 ADS 's (equiva lent to 8, 415, 960 s ha res ) and 18, 750, 000 s ha res , under its
(Nas daqG S : P WR D) Ma y 17, 2009 s ha re repurcha s e pla n. J uile G a o of L atham & W atkins L LP acted a s legal advis or to P erfect W orld.
S pectrumDNA, Inc . (OTC B B : S P XA) IAC 's Dictionary.com S elects Addictionary to P ower New S pectrumDNA has pa rtnered with Dictionary. com, an operating bus ines s unit of IAC , to licens e its awa rd-winning Addictionary, a S aa S
W ordpla y O ffering (s oftwa re-a s -a -s ervice) us er-generated dictiona ry that lets people create their own words and definitions . T he dea l ma rks S pectrumDNA's
firs t entree into IAC 's network of s ites and follows dis tribution deals with NB C Univers a l a nd s evera l C omca s t Networks properties .
S pectrumDNA, a s ocial media s tudio tha t creates Digita l Network Applica tions a nd engines of engagement (or 'E nginets ') for media outlets
a nd a dvertis ers , is collaborating with IAC to packa ge a nd s ell their bra nded Addictiona ry a s a one-of-a-kind, online s pons ors hip a nd vira l
marketing platform to attra ct premium bra nd-a dvertis ing dolla rs .
P erfect W orld C o., L td. P erfect W orld C o. Ltd. R eports Una udited C ons olida ted P erfect W orld C o. Ltd. reported unaudited cons olidated fina ncia l res ults for the firs t quarter ended March 31, 2009. F or the quarter, the
(Nas daqG S : P WR D) F ina ncial R es ults for the F irs t Q ua rter E nded March 31, company reported tha t total revenues were C NY 425. 1 million, a n increas e of 40.2% from C NY 303. 2 million for the firs t quarter of 2008.
2009 ; P rovides R evenue G uida nce for the S econd O pera ting profit was C NY 230. 4 million, an increas e of 42.6% or C NY 68. 8 million from C NY 161.6 million in firs t quarter of 2008. Non-G AAP
Quarter of 2009 opera ting profit was C NY 245. 8 million, an increas e of 45.0% or C NY 76. 3 million from C NY 169. 5 million in firs t qua rter of 2008. Net income
wa s C NY 215.4 million, a n increa s e of 36. 1% or C NY 57.1 million from C NY 158.4 million in firs t quarter of 2008. Non-G AAP net income wa s
C NY 230.9 million, a n increa s e of 38. 8% or C NY 64.6 million from C NY 166.3 million in firs t quarter of 2008. Diluted ea rnings per ADS were
C NY 3.96 a s compa red to C NY 2. 67 in firs t quarter of 2008. Non-G AAP diluted ea rnings per ADS were C NY 4. 25 as compared to C NY 2. 81
in firs t qua rter of 2008. P rofit before ta x was C NY 235. 4 million compa red to C NY 164.00 million reported a year ago. Net earnings per
diluted s ha re was C NY 0. 79 compa red to C NY 0. 53 reported a yea r ago. Net cas h provided by operating activities was C NY 249. 92 million co
DigitalP os t Interac tive, Inc . Digita lP os t Interactive Inc. R eports E a rnings R es ults for Digita lP os t Interactive Inc. reported earnings res ults for the firs t qua rter ended Ma rch 31, 2009. F or the quarter, the company's revenues
(OTC B B : DG L P ) the F irs t Q ua rter E nded March 31, 2009 ros e to $311,000, from $51, 300 in the firs t qua rter 2008. T he increa s e wa s driven largely by growth in the number of s ubs cribers genera ted
by the company's ma rketing pa rtners hip with K iddie K andids and revenue from profes s ional s ervices that were implemented during the firs t
qua rter 2009 for bus ines s es s eeking intera ctive media to enha nce market a warenes s a nd pres ence. Net ca s h us ed by opera ting a ctivities in
the firs t qua rter 2009 declined to $62,100 from $412,300 in the firs t quarter 2008 a nd reflected in pa rt the compa ny's cos t-reduction efforts .
TheS treet.c om, Inc. (Nas daqGM: TS C M) T heS treet.com Inc. Appoints Da ryl Otte a s C hief T heS treet. com Inc. a nnounced that it ha s appointed Daryl O tte a s C hief E xecutive Officer. Mr. Otte ha d previous ly been the company's
E xecutive Officer Interim C E O , a pos ition he was named to in Ma rch 2009. Mr. Otte, 47, has s erved as a Director of the company s ince 2001 and has
previous ly s erved as the C ha irma n of the compa ny's Audit C ommittee.
L iveWorld Inc. (OTC P K : L VWD) LiveW orld Inc. R eports Una udited C ons olidated E a rnings L iveW orld Inc. reported una udited cons olida ted ea rnings res ults for the firs t quarter March 31, 2009. F or the qua rter, the compa ny reported
R es ults for the F irs t Quarter March 31, 2009 ; P rovides $2. 6 million in tota l revenues compared to the $3.0 million in total revenues reported for the firs t quarter of 2008. Net income of $21,000
R evenue G uida nce for the S econd Quarter of 2009 compared to the net los s of $503,000 or $0. 02 per ba s ic s hare reported for the firs t quarter of 2008. Income from operations wa s $17, 000
compared to los s from operations of $486,000 for the s ame period of la s t yea r. Income before ta x was $17,000 compa red to los s before ta x
of $500, 000 for the s a me period of la s t yea r. Net cas h provided by operating activities wa s $179, 000 compared to net cas h us ed in opera ting
a ctivities of $37, 000 for the s a me period of las t yea r. P urchas e of property a nd equipment was $39, 000 compa red to $94, 000 for the s a me
period of la s t year. Adjus ted E B IT DA was $239,000, which was a s ignifica nt improvement from the $243,000 los s for the firs t qua rter of
2008.
T he compa ny a nticipates its total revenues will be les s than it reported for the s econd qua rter of 2008 a nd inline with the revenues for the
firs t qua rter of 2009. However, the company believes the cos t reductions will improve the s econd qua rter operationa l res ults compa red to the s econd q
Openwave S ys tems Inc. Openwave S ys tems Inc. Introduces Openwa ve Loca tion O penwa ve S ys tems Inc. a nnounced Openwa ve Loca tion E xpres s for G S M/UMT S , an eas y-to-deploy, loca tion-bas ed infra s tructure a ppliance
(Nas daqG S : OP WV) E xpres s for O pera tors in E merging Ma rkets tha t ena bles ra pid entry into the location-ba s ed s ervices ma rket. L oca tion E xpres s s upports both bas ic and a dva nced loca tion-bas ed
s ervices (L B S ) and is compatible with G S M/UMT S mobile phone and network s ta ndards . L B S s olution tha t helps enable operators in
emerging markets quickly deploys s ecure loca tion-ba s ed s ervices . B a s ic LB S enabled by L ocation E xpres s utilizes C ell/S ector ID pos ition
informa tion to offer low cos t s ervices to a variety of s ubs criber s egments a nd prepa id us ers with entry level voice and S MS ca pa ble
hands ets . Loca tion E xpres s ca n als o ena ble bas ic enterpris e fleet tracking applications s atis fied by C ell ID level accuracy, for exa mple
tra cking the progres s of long dis ta nce pas s enger bus es a nd tra ns port vehicles . Advanced L B S ena bled by Loca tion E xpres s is ba cked by
high a ccura cy As s is ted G P S (A-G P S ) technology, which a llows an opera tor to offer more s ophis tica ted high-a ccura cy cons umer s ervices
s uch as turn by turn navigation and child loca tor-type a pplica tions . In addition, a dva nced fleet tra cking s ervices a llow bus ines s es to monitor th
IB 3 Networks , Inc . (OTC B B : IB NW) iB 3 Networks Inc. a nd iB eam S olutions Announce iB 3 Networks Inc. and its wholly owned s ubs idia ry iB ea m S olutions announced tha t its client Hull & As s ociates Inc. , ha s extended its IT
E xtens ion of IT Ma na ged S ervice C ontra ct for O ne Y ear Managed S ervice contract for O ne Y ear for $144, 000.
with C lient Hull & As s ociates Inc
9. Page 9
E xtens ions , Inc. (OTC P K : E XTI) E xtens ions Inc. R eports E arnings R es ults for the F irs t E xtens ions Inc. reported ea rnings res ults for the firs t qua rter ended March 31, 2009. F or the qua rter, the compa ny reported a net los s of
Quarter E nded Ma rch 31, 2009 $21,582. In contras t, the compa ny pos ted a net los s of $76,529 for the s ame qua rter in the previous yea r a nd a $357, 468 a ccumulated net
los s s ince inception on F eb. 19, 1997.
Myriad G roup AG (S WX: MYR N) Myria d G roup AG , Annua l G enera l Meeting, Ma y 19, Myria d G roup AG , Annua l G eneral Meeting, May 19, 2009, a t 15: 00 C entral E urope S ta ndard T ime. Loca tion: R adis s on B lu Hotel, Zurich-
2009 Airport, Zurich, S witzerla nd. Agenda : T o re-elect board members Ha ns -Ulrich Muller and J ea n S chmitt for a term of office of one yea r
.
L iveWorld Inc. (OTC P K : L VWD) B ra veHea rt W omen S elects LiveW orld a s P rovider for B raveHeart W omen has s elected LiveW orld Inc. a s provider of its new online community des cribed as S ocia l Networking W ith a P urpos e.
New S ocial Network About Ins piring a nd E mpowering T he new online community is built on L iveW orld's la tes t vers ion of its C ommunity C enter P ro-E dition pla tform and features member profiles ,
W omen friends lis ts , gues tbooks , forums , blogs , photo a lbums , us er video, groups a nd more.
C yberplex Inc. (TS X: C X) C yberplex Inc. ha s filed a F ollow-on E quity Offering in the C yberplex Inc. has filed a F ollow-on E quity O ffering in the a mount of C AD 15. 00 million.
amount of C AD 15.00 million.
O ffer Details :
S ecurity T ype: C ommon S tock
O ffered: 9375000
P rice/R a nge: 1. 60
Neteas e.com Inc. (Nas daqGS : NTE S ) Netea s e.com Inc. Announces Unaudited C ons olida ted Neteas e. com Inc. a nnounced unaudited cons olidated ea rnings res ults for the firs t qua rter ended March 31, 2009. F or the qua rter, the
E a rnings R es ults for the F irs t Q ua rter E nded Ma rch 31, company has reported operating profit of C NY 491, 098,085, net income before ta x of C NY 478, 441, 772, net income after tax of C NY
2009 416,702, 625 and net income attributable to s hareholders of C NY 416,720, 842 or C NY 0. 13 diluted ea rnings per s ha re and C NY 3.23 diluted
earnings per ADS on tota l revenues of C NY 781, 694, 557 compared to opera ting profit of C NY 404, 383, 564, net income before ta x of C NY
384,179, 583, net income a fter ta x of C NY 269, 346, 735 a nd net income a ttributa ble to s ha reholders of C NY 269, 350, 246 or C NY 0. 08 diluted
earnings per s hare a nd C NY 2. 08 diluted ea rnings per ADS on total revenues of C NY 651,923,462 for the s ame period las t yea r. T otal net
revenues for the qua rter were C NY 775,922, 426 agains t C NY 644, 453,652 reported la s t yea r. Net cas h provided by operating activities were
C NY 567,784, 380 aga ins t C NY 494, 960,784 reported las t yea r. In the quarter, the compa ny reported capita l expenditure of C NY 23, 031, 133
on purchas e of property, equipment and s oftwa re compa red to C NY 15,418, 337 reported las t year.
Neteas e.com Inc. (Nas daqGS : NTE S ) Upda te to Netea s e.com Inc’s E quity B uyba ck on March As of Ma rch 31, 2009, Netea s e. com Inc has repurcha s ed own s ha res worth $13.1 million, under the s hare repurcha s e plan, a nnounced on
31, 2009 S eptember 12, 2008.
J umbuck E ntertainment Pty L td. J umbuck E ntertainment P ty Ltd. La unches P ower C ha t J umbuck E ntertainment P ty Ltd. ha s relea s ed its mobile chat a nd flirt s ervice, P ower C ha t(T M), as a n iP hone application. It is ava ilable for
(AS X: J MB ) for iP hone immediate downloa d in the Apple App S tore for $2. 99. B ecaus e it ta ps into J umbuck's enormous globa l us er bas e, P ower C ha t us ers on the
iP hone and iP od T ouch now have ins tant a cces s to a divers e mobile community of more than 15 million people around the world, even
people who a re not us ing an iP hone or who a re on a non-iP hone carrier. P ower C ha t for iP hone and iP od T ouch delivers all the core P ower
C hat capabilities plus s ome cool features that a re unique to the iP hone vers ion: -P ublic C hat R ooms --there's a lwa ys s omeone looking to
cha t. C hoos e from various themed rooms including F lirt, S ingles , F riends , Da ting, S ports , Da C lub, W orld C hat, a s well as regiona l a nd age-
s pecific rooms , -P hotos --check out other cha tters ' photos in chat rooms . S elect a chatter to s ee profile informa tion, more photos , a nd s end
mes s ages directly to tha t pers on, -P ers ona l C hats --one-to-one chat enables to take a public chat priva te, -F riends Lis t--keep track of friends ,
s end private mes s ages . a nd s ee when your favorite chatters are online, -P hoto Upload--eas ily upload photos s tored on your iP hone or ta ke a n
Magnitude Information S ys tems Inc. Ma gnitude Informa tion S ys tems Inc. R eports E arnings Magnitude Information S ys tems Inc. reported ea rnings res ults for the firs t quarter ended March 31, 2009. F or the quarter, the compa ny
(OTC B B : MAGY) R es ults for the F irs t Quarter E nded Ma rch 31, 2009 reported net los s of $1.36 million. In contra s t, the company pos ted a net los s of $2.14 million for the s a me quarter in the previous year.
Worlds .c om Inc . (OTC B B : W DDD) W orlds . com Inc. R eports E a rnings R es ults for the W orlds . com Inc. reported earnings res ults for the qua rter ended Ma rch 31, 2009. F or the qua rter, the company reported a net los s of
Quarter E nded Ma rch 31, 2009 $242, 441. In contra s t, the company pos ted a net los s of $107,954 for the s ame qua rter in the previous yea r.
K aboos e Inc . (TS X: K AB ) K a boos e Inc. has C hanged its Name to K AB Dis tribution K a boos e Inc. changed its na me to K AB Dis tribution Inc.
Inc
K ings oft C o. L td. (S E HK : 3888); The9 K ings oft a nd T he9 Announces C oopera tion in J X3 O nline K ings oft C o. L td. will coopera te with T he9 Limited on the opera tion of J X3 O nline. T he9 will keep its ha rdwa re under opera tion and
L imited (Nas daqG S : NC TY) Operation cons olida te its s ta tus over the C hines e online gaming market. B ecaus e the operation of C hina -des igned online games cos ts les s than tha t of
W oW .
C yberplex Inc. (TS X: C X) C yberplex Inc. , Annual G enera l Meeting, Ma y 21, 2009 C yberplex Inc. , Annua l G enera l Meeting, Ma y 21, 2009, at 09:00 E as tern Da ylight. Loca tion: 1255 B a y S treet, S uite 400, T oronto M5R 2A9,
O ntario, C anada . Agenda: T o receive a nd cons ider the audited cons olidated financia l s tatements of the C orporation for the fis cal yea r ended
December 31, 2008 and the a uditors ' report thereon; to elect directors ; to a ppoint a uditors and to a uthorize the directors of the C orporation to
fix the auditors ' remunera tion; a nd to trans a ct s uch further or other bus ines s a s may properly come before the Meeting or a t a ny
a djournments thereof
.
K aboos e Inc . (TS X: K AB ) K a boos e Inc. , Annua l G eneral Meeting, May 21, 2009 K a boos e Inc., Annual G eneral Meeting, May 21, 2009, a t 09: 00 E a s tern Daylight. L ocation: S tikema n E lliott L LP , 5300 C ommerce C ourt
W es t, 199 B ay S treet, T oronto M5L 1B 9, Onta rio,C a na da . Agenda : T o receive a nd cons ider the a nnua l report to the s hareholders , the a nnua l
cons olida ted fina ncial s ta tements of the corporation for the fis cal yea r ended December 31, 2008 and the report of the a uditor thereon; to
elect the directors of the corporation; to appoint an a uditor of the corpora tion a nd to a uthorize the directors to fix the a uditor's remunera tion;
to cons ider, and, if deemed advis a ble, to pa s s , with or without va ria tion, a s pecia l res olution of the s ha reholders to a pprove the s ale, directly
a nd indirectly, by the corpora tion of all of the is s ued a nd outs ta nding s ha res of its s ubs idia ry, K a boos e Acquis ition (UK ) C ompany.
S hutterfly, Inc. (Nas daqG S : S F L Y) S hutterfly Inc., Annual G eneral Meeting, Ma y 21, 2009 S hutterfly Inc. , Annua l G enera l Meeting, Ma y 21, 2009, at 11:00 P acific Da ylight. L oca tion: 1300 Is la nd Drive, R edwood C ity, C A
94065,United S ta tes . Agenda: T o elect three C las s III directors to hold office until its 2012 Annua l Meeting of S tockholders ; to re-approve the
Internal R evenue C ode S ection 162(m) provis ions of its 2006 E quity Incentive P lan to pres erve its a bility to deduct for corpora te income tax
purpos es compens a tion tha t qualifies as performa nce-bas ed compens ation under S ection 162(m) of the Interna l R evenue C ode; to ratify the
s election by the Audit C ommittee of its B oa rd of Directors of P ricewa terhous eC oopers LL P a s its independent regis tered public a ccounting
firm for the fis cal yea r ending December 31, 2009; and to conduct a ny other bus ines s properly brought before the meeting.
Magnitude Information S ys tems Inc. Ma gnitude Informa tion S ys tems Inc. Names Andre O n Ma y 13, 2009, the B oard of Directors of Ma gnitude Informa tion S ys tems Inc. a ppointed Andre S cholz to s erve a s a director of company
(OTC B B : MAGY) S cholz a s a Director a nd a s a C ons ultant; Announces a nd a s a cons ulta nt. As a cons ultant, Mr. S cholz will s erve in the roles of C hief T echnology O fficer for the compa ny and in the roles of
C ons olida tion of B us ines s O pera tions in its New Y ork P res ident a nd C hief E xecutive Officer for K iwibox Media, Inc. , the compa ny's wholly owned and principal bus ines s s ubs idiary. Mr. S cholz, 31
C ity O ffices years of age, is currently the G eneral Ma na ger / C E O of Inters cholz B eteiligungs G mbH a nd Inters cholz Internet S ervices G mbH & C o. K G ,
G erman companies loca ted in S tuttga rt, G erma ny. Mr. S cholz als o owns a nd ma na ges Adva nced T echnology G roup Deuts chland G mbH,
a ls o loca ted in S tuttga rt, which is enga ged in the development and marketing of computer, pa tented algorithms in the E uropea n ma rket for
pattern recognition.
In connection with its bus ines s reorga niza tion, the compa ny ha s cons olida ted the s ites of its bus ines s operations in its New Y ork C ity offices ,
loca ted a t 330 W es t 38th S treet, now its principal offices , and ha s termina ted its lea s e for its New J ers ey office loca ted at 1250 R oute 28,
B ranchburg, New J ers ey.
Neteas e.com Inc. (Nas daqGS : NTE S ) Netea s e.com Announces E xpa ns ion in O nline G ame Neteas e. com Inc. is gea ring up for the operation of the W orld of W a rcra ft in Ma inla nd C hina . T he compa ny ea rlier won a licens e from US -
S ector bas ed online game tita n B lizza rd E nterta inment to opera te the la tter's W orld of W a rcra ft on the ma inla nd. Ha ving purchas ed equipment
neces s a ry for the operation of W orld of W arcra ft, NetE as e. com is equipping bra nd new hardware fa cilities for the online ga me. T he W orld of
W arcra ft NetE a s e. com a uthorized to run is jus t part of its s tra tegic expans ion.
10. Page 10
ZipL ocal Inc. R eports C ons olida ted Una udited C apital ZipL oca l Inc. reported cons olida ted unaudited ca pita l expenditure for the third qua rter a nd nine months ended Ma rch 31, 2009. F or the
E xpenditure for the T hird Q ua rter a nd Nine Months quarter, the compa ny reported ca s h us ed in opera ting a ctivities wa s C AD 115, 180 a ga ins t the C AD 1, 127, 861 for the s ame period a yea r
E nded Ma rch 31, 2009 a go. T he compa ny s pends C AD 12, 953 on purcha s e of property, pla nt a nd equipment.
F or the nine months , the compa ny reported ca s h us ed in opera ting a ctivities wa s C AD 1, 439, 974 aga ins t the C AD 3, 800, 382 for the s a me
period a yea r a go. T he compa ny s pends C AD 15, 817 on purcha s e of property, pla nt a nd equipment a ga ins t the C AD 136, 084 for the s a me
period a yea r a go.
ZipL ocal Inc. R eports E a rnings R es ults for the T hird ZipL oca l Inc. reported ea rnings fina ncial res ults for the third qua rter and nine months ended Ma rch 31, 2009. Net revenues for the three
Qua rter a nd Nine Months E nded March 31, 2009 months ended Ma rch 31, 2009 were $687, 481, repres enting a decrea s e of $225, 658, or 25% from $913, 139 as recorded in the s a me period
in the prior yea r. Net los s for the period wa s a t $253, 179, compa red to a los s of $1, 379, 804, or $0. 02 per s ha re, for the s a me period in the
prior yea r. T he C ompa ny is s eeing improvements in the opera ting res ults from the continued a nd a ggres s ive efforts to decrea s e expens es
a nd increas es in productivity with a reduced number of s ta ff. T hes e initiatives ha ve s een a n improvement in Adjus ted E B IT DA los s . Adjus ted
E B IT DA los s for the three months ended March 31, 2009 wa s $61, 043 repres enting a n improvement of $353, 503 from $414, 546 for the three
months ended December 31, 2008.
Net revenues for the nine months ended Ma rch 31, 2009 were $2, 181, 582, repres enting a decrea s e of $950, 545, or 30% , from $3, 132, 127
a s recorded in the s ame period in the prior yea r. Net los s was a t $1, 905, 273, or $0. 02 per s ha re, compa red to a los s of $4, 604, 372, or $0. 07
per s ha re, for the s ame period in the prior yea r.
K ings oft C o. L td. , Annua l G enera l Meeting, Ma y 25, 2009 K ings oft C o. L td. , Annua l G enera l Meeting, Ma y 25, 2009, a t 15: 00 C C T -C hina C oa s t, US S R Zone 7. Location: Zhuhai K ings oft S oftware C o.
L td. , K ings oft T ower, #8 L ia ns han Alley, J ings ha n R oa d, J ida, Zhuha i, P R C , 519015, G uangdong P rovince, C hina . Agenda : T o receive a nd
cons ider the a udited cons olidated fina ncia l s ta tements , the report of the directors a nd the independent a uditors ' report for the yea r ended
December 31, 2008; to decla re a fina l dividend; to re-elect directors a nd authorize the board of directors to fix the directors ' remunera tion; to
re-a ppoint a uditors a nd to a uthorize the boa rd of directors to fix the a uditors ' remuneration a nd to cons ider; and to fit other res olution.
Figure 7. Key Developments
Source. Capital IQ