Web 2.0 Weekly - Aug. 4, 2010: "Playdom is going to Disney World"

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Web 2.0 Weekly

“Playdom Is Going To Disney World!”

Copyright © 2000-2010, Mackie Research Capital Corporation, All rights reserved

August 4, 2010

David Shore, CFA, MBA [email protected]

Damian Wojcichowsky, CFA 416.860.7652

This report has been created by Analysts that are employed by Mackie Research Capital Corporation, a Canadian Investment Dealer.For further disclosures, please see last page of this report.

www.mackieresearch.com

www.mackieresearch.com2

Key Developments (past week)

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 warpath.

� 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 mm seed round).

Financial Results/Guidance/Partnerships/Product� Multiplied Media (TSXV:MMC) announced a partnership with U.S. wireless carrier,

Cricket Communication, to have the company’s geo-location mobile app, Poynt, pre-installed on several of the smartphones that Cricket currently markets or intends to launch in the near future. In other MMC news, the latest version of Poynt, now for the Android OS, was launched last week. Poynt is now available on iPhone, BlackBerry, and Android.


Public Company Data


Aggregate Public Data

Web 2.0 Public Companies Total Median Max Min# Companies 102 - - -

Market Cap (US$ mm) 86,339.9 49.9 35,575.0 0.0

Revenue (US$ mm) 28,921.6 43.9 6,869.8 0.0

1 Year revenue growth 2.5% 8961.6% -100.0%

EBITDA as % of revenue - 8.8% 63.2% -99.5%

Net cash (US$ mm) 17,182.1 2.9 6,665.5 -670.8

TEV/Revenue - 1.8x 37.6x 0.0x

TEV/EBITDA - 8.4x 39.9x 0.1x

P/E - 16.8x 97.2x 0.0x

Relative to 52 week high -41.6% -0.9% -93.5%

Source: CapitalIQ


Public Company Distribution

By Sector By Country

Source: CapitalIQ

28

16

109

65

3 3 3 32 2 2 2

1 1 1 1 1 1 1 1

0

5

10

15

20

25

30

Gam

ing

Socia

l N

etw

ork

ing

Media

Div

ers

ifie

d

Mobile

Mark

eting

Infr

astr

uctu

re

SM

S/V

oic

e

Ente

rprise

Advert

isin

g

Inte

rnet

Reta

il

Virtu

al W

orld

Dating

Music

Vert

ical C

om

munitie

s

Searc

h

Podcasting

Learn

ing

Vid

eo

Colla

bora

tion

Paym

ent

Fin

ancia

l S

erv

ices

0

5

10

15

20

25

30

35

40

45

United S

tate

s

Canada

Chin

a

South

Kore

a

Japan

Taiw

an

Hong K

ong

Germ

any

Pola

nd

Austr

alia

United K

ingdom

Italy

Fin

land

Sw

eden

India

Russia

Mala

ysia

Sw

itzerland


Valuation Dashboard – 1 Week

Rising

56%

Falling

33%

Flat

11%

Rising

25%Falling

75%

Flat

0%

Rising

31%

Falling

69%

Flat

0%

Market Cap

Rising

41%

Falling

59%

Flat

0%

EV/Revenue

EV/EBITDA P/E


Median EV/Revenue

0.0x

0.5x

1.0x

1.5x

2.0x

2.5x

3.0x

3.5x

4.0x

4.5x

5.0x6

/16

/20

09

6/2

3/2

00

96

/30

/20

09

7/7

/20

09

7/1

4/2

00

97

/21

/20

09

7/2

8/2

00

98

/4/2

00

98

/11

/20

09

8/1

8/2

00

98

/25

/20

09

9/1

/20

09

9/8

/20

09

9/1

5/2

00

99

/22

/20

09

9/2

9/2

00

91

0/6

/20

09

10

/13

/20

09

10

/20

/20

09

10

/27

/20

09

11

/3/2

00

91

1/1

0/2

00

91

1/1

7/2

00

91

1/2

4/2

00

91

2/1

/20

09

12

/8/2

00

91

2/1

5/2

00

91

2/2

2/2

00

91

2/2

9/2

00

91

/5/2

01

01

/12

/20

10

1/1

9/2

01

01

/26

/20

10

2/2

/20

10

2/9

/20

10

2/1

6/2

01

02

/23

/20

10

3/2

/20

10

3/9

/20

10

3/1

6/2

01

03

/23

/20

10

3/3

0/2

01

04

/6/2

01

04

/13

/20

10

4/2

0/2

01

04

/27

/20

10

5/4

/20

10

5/1

1/2

01

05

/18

/20

10

5/2

5/2

01

06

/1/2

01

06

/8/2

01

06

/15

/20

10

6/2

2/2

01

06

/29

/20

10

7/6

/20

10

7/1

3/2

01

07

/20

/20

10

7/2

7/2

01

08

/3/2

01

0

383940394038404243454547464547485051515054555661616162666666656666707070707372726672727276737676778078797880808183828383

Mu

ltip

le (

x)

Median Long-term average

# companies

Source: CapitalIQ

Revenue multiples down slightly, still

well below LT average


Median EV/EBITDA

0. 0x

5. 0x

10. 0x

15. 0x

20. 0x

25. 0x

30. 0x

6/16/2009

6/23/2009

6/30/2009

7/7/2009

7/14/2009

7/21/2009

7/28/2009

8/4/2009

8/11/2009

8/18/2009

8/25/2009

9/1/2009

9/8/2009

9/15/2009

9/22/2009

9/29/2009

10/6/2009

10/13/2009

10/20/2009

10/27/2009

11/3/2009

11/10/2009

11/17/2009

11/24/2009

12/1/2009

12/8/2009

12/15/2009

12/22/2009

12/29/2009

1/5/2010

1/12/2010

1/19/2010

1/26/2010

2/2/2010

2/9/2010

2/16/2010

2/23/2010

3/2/2010

3/9/2010

3/16/2010

3/23/2010

3/30/2010

4/6/2010

4/13/2010

4/20/2010

4/27/2010

5/4/2010

5/11/2010

5/18/2010

5/25/2010

6/1/2010

6/8/2010

6/15/2010

6/22/2010

6/29/2010

7/6/2010

7/13/2010

7/20/2010

7/27/2010

8/3/2010

20 21 22 22 2121 2123 2224 22 23 2325 26 26 25 2424 2527 29 29 3334 3436 38 37 3839 3840 4138 38 38 4241 4141 42 41 4243 43 43 44 4749 4850 50 50 4949 4846 4849

Multiple (x)


# companies

Source: CapitalIQ

EV/EBITDA multiples down, depressed below LT average


Median P/E

0. 0x

5. 0x

10. 0x

15. 0x

20. 0x

25. 0x

30. 0x

35. 0x

6/16/2009

6/23/2009

6/30/2009

7/7/2009

7/14/2009

7/21/2009

7/28/2009

8/4/2009

8/11/2009

8/18/2009

8/25/2009

9/1/2009

9/8/2009

9/15/2009

9/22/2009

9/29/2009

10/6/2009

10/13/2009

10/20/2009

10/27/2009

11/3/2009

11/10/2009

11/17/2009

11/24/2009

12/1/2009

12/8/2009

12/15/2009

12/22/2009

12/29/2009

1/5/2010

1/12/2010

1/19/2010

1/26/2010

2/2/2010

2/9/2010

2/16/2010

2/23/2010

3/2/2010

3/9/2010

3/16/2010

3/23/2010

3/30/2010

4/6/2010

4/13/2010

4/20/2010

4/27/2010

5/4/2010

5/11/2010

5/18/2010

5/25/2010

6/1/2010

6/8/2010

6/15/2010

6/22/2010

6/29/2010

7/6/2010

7/13/2010

7/20/2010

7/27/2010

8/3/2010

19 18 18 19 1819 1820 2019 18 19 1919 20 21 24 2323 2425 27 26 3031 3130 33 32 3236 3739 3938 39 39 3941 3839 39 40 3737 36 33 33 3335 3536 35 35 3636 3235 3334

Multiple (x)


# companies

Source: CapitalIQ

P/E multiples shift upwards though remain

below LT average


Average EV/Revenue – by Sector

11.6

9.0 9.0 8.9

5.14.8

4.23.6 3.5 3.3 3.2

2.6 2.6 2.5 2.3 2.22.0 1.7 1.6

1.2

0.5

-

2.0

4.0

6.0

8.0

10.0

12.0

14.0V

irtu

al W

orld

Socia

l N

etw

ork

ing

Infr

astr

uctu

re

Learn

ing

Mobile

Music

Div

ers

ifie

d

Searc

h

Gam

ing

Mark

eting

Vert

ical C

om

munitie

s

SM

S/V

oic

e

Podcasting

Colla

bora

tion

Advert

isin

g

Media

Inte

rnet

Reta

il

Ente

rprise

Vid

eo

Dating

Fin

ancia

l S

erv

ices

2 9 2 1 4 2 6 1 21 5 1 3 1 1 3 9 2 3 1 2 1# Companies


Average EV/EBITDA – by Sector

38.5

18.817.1

13.012.2 11.7

10.39.4 9.2

7.2 6.9

4.0

-

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

Searc

h

Mobile

Ente

rprise

Div

ers

ifie

d

Gam

ing

Inte

rnet

Reta

il

Socia

l N

etw

ork

ing

Media

Colla

bora

tion

Mark

eting

Dating

Advert

isin

g

1 3 2 5 13 2 6 6 1 2 1 1# Companies


Average P/E – by Sector

96.3

54.9

40.238.3

23.819.8

14.3 14.1 13.6

7.7

-

20.0

40.0

60.0

80.0

100.0

120.0

Internet

Retail

Enterprise Collaboration Diversified Social

Networking

Marketing Advertising Media Gaming Virtual World

2 3 1 9 16 5 3 10 28 2# Companies


38

28

23

19

17

15

14

12

10 10 109

8 87

65 5 5 4 4

4 4 4 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

Accredited Members Holding Corporation

SocialGO PLC

Worlds.com Inc.

Tencent Holdings Ltd.

SpectrumDNA, Inc.

GeoSentric Oyj

MOKO.mobi Limited

Paid Inc.

Gree, Inc.

Chinese Gamer International

Beyond Commerce, Inc.

Lingo Media Corporation

Mood Media Corporation

DigitalPost Interactive, Inc.

TransGaming, Inc.

Accelerize New Media, Inc.

HUGHES Telematics, Inc.

Dena Co. Ltd.

Mixi, Inc.

Frogster Interactive Pictures AG

Changyou.com Limited

Taleo Corp.

SK Communications Co., Ltd.

Kingsoft Corporation Limited

WebMediaBrands Inc

Motricity, Inc.

Wizzard Software Corporation

Open Text Corp.

ePro Ltd.

Sohu.com Inc.

Modern Times Group Mtg AB

XING AG

NEOWIZ Games Corporation

Velti Plc

Shutterfly, Inc.

Score Media Inc.

PNI Digital Media Inc.

Myriad Group AG

UOMO Media, Inc

HanbitSoft, Inc.

ValueClick, Inc.

GungHo Online Entertainment, Inc.

Platforma Mediowa Point Group S.A.

iseemedia Inc.

NeuLion Incorporated

Hutchison Telecommunications Hong

Spark Networks, Inc.

Gamania Digital Entertainment Co., Ltd.

Unilava Corporation

Webzen Inc.

NetDragon WebSoft, Inc.

YD Online Corp.

Oriented Media Group Berhad

Ynk Korea Inc.

SNAP Interactive, Inc.

Internet Group SA

OAO RBC Information Systems

AQ Interactive, Inc.

Points International Ltd.

IAC/InterActiveCorp.

TheStreet.com, Inc.

The New York Times Company

United Online, Inc.

DADA SpA

Northgate Technologies Limited

Uniserve Communications Corp.

AOL, Inc.

CDC Corp.

Glu Mobile, Inc.

Tree.Com, Inc.

GigaMedia Ltd.

Openwave Systems Inc.

Cyberplex Inc.

Actoz Soft Co., Ltd.

Jumbuck Entertainment Limited

RealNetworks Inc.

Asknet AG

GameOn Co Ltd.

LookSmart, Ltd.

Ngi Group Inc.

EV/Revenue Ranking

Source: CapitalIQ

Accredited Members has highest revenue multiple at 38x


39.938.5

35.8

28.526.7

25.6

19.319.118.917.2

16.215.415.4

14.212.511.8

10.1 9.7 9.4 9.2 9.2 8.5 8.3 8.3 8.3 7.9 7.9 7.5 7.3 7.3 6.9 6.7 6.4 6.3 5.8 5.64.5 4.0 3.8

2.1 1.50.6 0.4 0.1

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

HanbitSoft, Inc.

SK Communications Co., Ltd.


Taleo Corp.


Motricity, Inc.


Myriad Group AG

Mixi, Inc.

Gree, Inc.

Modern Times Group Mtg AB

Shutterfly, Inc.

TheStreet.com, Inc.

AQ Interactive, Inc.

Score Media Inc.

Openwave Systems Inc.

IAC/InterActiveCorp.

YD Online Corp.

Dena Co. Ltd.

Open Text Corp.

DADA SpA



XING AG


PNI Digital Media Inc.

Velti Plc

GungHo Online Entertainment, Inc.



Spark Networks, Inc.


ValueClick, Inc.

Hutchison Telecommunications Hong Kong Holdings Ltd.

Sohu.com Inc.

CDC Corp.


Cyberplex Inc.

United Online, Inc.

AOL, Inc.

Actoz Soft Co., Ltd.


GameOn Co Ltd.

Ngi Group Inc.

EV/EBITDA Ranking

Excluding EV/EBITDA > 100xSource: CapitalIQ

HanbitSoft leads the group at 39.9x


97.2 96.3

62.8

56.3

47.4 47.0

40.2

33.5 33.530.3 30.2

25.9 24.620.7 20.6

17.0 17.0 16.5 15.1 14.9 14.3 13.810.8 9.9 9.1 8.2 7.7

5.1 3.5 2.7 2.0 1.9

0.0

20.0

40.0

60.0

80.0

100.0

120.0

ePro Ltd.

Shutterfly, Inc.

Points International Ltd.

Mixi, Inc.


CDC Corp.

Open Text Corp.

Gree, Inc.





Velti Plc

Dena Co. Ltd.

Hutchison Telecommunications Hong Kong Holdings Ltd.


DADA SpA


ValueClick, Inc.

Sohu.com Inc.

Cyberplex Inc.


AOL, Inc.


United Online, Inc.

GameOn Co Ltd.

Ngi Group Inc.



Netease.com Inc.

Shanda Interactive Entertainment Ltd.

Giant Interactive Group, Inc.

P/E Ranking

Source: CapitalIQ

ePro has the highest P/E at 97.2x


Total Market Capitalization

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

8/3/2009

8/10/2009

8/17/2009

8/24/2009

8/31/2009

9/7/2009

9/14/2009

9/21/2009

9/28/2009

10/5/2009

10/12/2009

10/19/2009

10/26/2009

11/2/2009

11/9/2009

11/16/2009

11/23/2009

11/30/2009

12/7/2009

12/14/2009

12/21/2009

12/28/2009

1/4/2010

1/11/2010

1/18/2010

1/25/2010

2/1/2010

2/8/2010

2/15/2010

2/22/2010

3/1/2010

3/8/2010

3/15/2010

3/22/2010

3/29/2010

4/5/2010

4/12/2010

4/19/2010

4/26/2010

5/3/2010

5/10/2010

5/17/2010

5/24/2010

5/31/2010

6/7/2010

6/14/2010

6/21/2010

6/28/2010

7/5/2010

7/12/2010

7/19/2010

7/26/2010

96 96 96 96 96 96 96 96 96 96 97 97 97 97 97 97 97 98 98 98 98 98 98 98 98 98 98 98 98 99100100100100100100100100100100100100101101101101102102102101102102

(US$m)

# companies

Source: CapitalIQ

Total market cap up $11.8 bn to $86.3 bn


Total Market Cap – by Sector

-

5,000.0

10,000.0

15,000.0

20,000.0

25,000.0

30,000.0

35,000.0

40,000.0

45,000.0D

ivers

ifie

d

Gam

ing

Media

Socia

l N

etw

ork

ing

Mobile

Colla

bora

tion

Ente

rprise

Mark

eting

Inte

rnet

Reta

il

Searc

h

SM

S/V

oic

e

Fin

ancia

l S

erv

ices

Dating

Music

Advert

isin

g

Vid

eo

Virtu

al W

orld

Vert

ical C

om

munitie

s

Paym

ent

Podcasting

Infr

astr

uctu

re

Learn

ing

9 28 10 16 6 1 3 5 2 1 3 1 2 2 3 1 2 1 1 1 3 1# Companies

Nine Diversified companies totaling $39 bn in market cap


Market Cap Ranking

0

1,000

2,000

3,000

4,000

5,000

6,000

Tencent H

old

ings L

td.

Fro

gste

r In

tera

ctiv

e P

ictu

res A

GN

ete

ase.c

om

Inc.

Dena C

o. Ltd

.IA

C/Inte

rActiv

eC

orp

.S

handa Inte

ractiv

e E

nte

rtain

ment Ltd

.A

OL, In

c.

Open T

ext C

orp

.G

eoS

entr

ic O

yj

Sohu.c

om

Inc.

Gia

nt In

tera

ctiv

e G

roup, In

c.

Changyou.c

om

Lim

ited

GungH

o O

nlin

e E

nte

rtain

ment, Inc.

The N

ew

York

Tim

es C

om

pany

Perf

ect W

orld C

o., L

td.

Tale

o C

orp

.V

alu

eC

lick, In

c.

Chin

ese G

am

er

Inte

rnatio

nal

Shutterf

ly, In

c.

NE

OW

IZ G

am

es C

orp

ora

tion

SK

Com

munic

atio

ns C

o., L

td.

Unite

d O

nlin

e, In

c.

RealN

etw

ork

s Inc.

Hutc

his

on T

ele

com

munic

atio

ns H

ong

Motr

icity

, In

c.

NetD

ragon W

ebS

oft, In

c.

Velti

Plc

Gre

e, In

c.

Myriad G

roup A

GC

DC

Corp

.G

am

ania

Dig

ital E

nte

rtain

ment C

o., L

td.

XIN

G A

GM

OK

O.m

obi L

imite

dO

penw

ave S

yste

ms Inc.

OA

O R

BC

Info

rmatio

n S

yste

ms

The9 L

imite

dG

igaM

edia

Ltd

.W

ebzen Inc.

AQ

Inte

ractiv

e, In

c.

Poin

ts Inte

rnatio

nal L

td.

TheS

treet.com

, In

c.

DA

DA

SpA

Thw

apr,

Inc.

Acto

z S

oft C

o., L

td.

Tre

e.C

om

, In

c.

Score

Media

Inc.

HU

GH

ES

Tele

matic

s, In

c.

Spark

Netw

ork

s, In

c.

Paid

Inc.

Mood M

edia

Corp

ora

tion

NeuLio

n Incorp

ora

ted

PN

I D

igita

l Media

Inc.

Pla

tform

a M

edio

wa P

oin

t G

roup S

.A.

Quepasa C

orp

.N

gi G

roup Inc.

YD

Onlin

e C

orp

.C

yberp

lex Inc.

Gra

vity

Co., L

tdG

lu M

obile

, In

c.

Tra

nsG

am

ing, In

c.

Dig

italT

ow

n, In

c.

eP

ro L

td.

Multi

plie

d M

edia

Corp

ora

tion

WebM

edia

Bra

nds Inc

Yip

py, In

c.

LookS

mart

, Ltd

.S

ocia

lwis

e, In

c.

NeX

plo

re C

orp

ora

tion

Asknet A

GA

ccre

dite

d M

em

bers

Hold

ing

Ynk K

ore

a Inc.

Accele

rize N

ew

Media

, In

c.

Wiz

zard

Softw

are

Corp

ora

tion

Moggle

, In

cN

ort

hgate

Technolo

gie

s L

imite

dis

eem

edia

Inc.

Dolp

hin

Dig

ital M

edia

, In

c.

VO

IS, In

c.

Dig

italP

ost In

tera

ctiv

e, In

c.

Kent In

tern

atio

nal H

old

ings Inc.

Socia

lGO

PLC

Jum

buck E

nte

rtain

ment Lim

ited

Unila

va C

orp

ora

tion

Modern

Tim

es G

roup M

tg A

BS

NA

P Inte

ractiv

e, In

c.

Kiw

ibox.C

om

, In

c.

Beyond C

om

merc

e, In

c.

En2G

o Inte

rnatio

nal,

Inc.

IAS

Energ

y, In

c.

Spectr

um

DN

A, In

c.

Worlds.c

om

Inc.

Oriente

d M

edia

Gro

up B

erh

ad

Unis

erv

e C

om

munic

atio

ns C

orp

.In

tern

et G

roup S

AM

obile

Data

Corp

.U

OM

O M

edia

, In

cLiv

eW

orld Inc.

Lin

go M

edia

Corp

ora

tion

Kin

gsoft C

orp

ora

tion L

imite

dG

am

eO

n C

o L

td.

HanbitS

oft, In

c.

Source: CapitalIQ

Tencent’s $35.6 bn market cap dominates group


Price Performance – 1 Week

Price Momentum• Risers (47% of universe) outpaced

decliners (46%)

• Reversal of general negative price trend over the past two months

Rising

47%

Flat

7%

Falling

46%


Average Price Performance – 1 Week, by Sector

6.8% 6.0%3.8% 3.2% 2.3% 2.2% 2.2% 2.2% 2.0% 2.0%

-0.3% -0.3% -0.4%-1.5%

-2.4% -2.4% -2.7% -2.9% -3.2% -4.1%

-13.1%

-19.8%

-25.0%

-20.0%

-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

Le

arn

ing

Ma

rketin

g

Ve

rtic

al

Co

mm

un

itie

s

Ad

ve

rtis

ing

Pa

ym

en

t

Vid

eo

Mob

ile

Div

ers

ifie

d

Me

dia

Inte

rnet R

eta

il

Sea

rch

Ga

min

g

SM

S/V

oic

e

Mu

sic

Fin

an

cia

l

Se

rvic

es

So

cia

l

Ne

two

rkin

g

Po

dca

stin

g

Infr

astru

ctu

re

En

terp

rise

Co

llab

ora

tio

n

Datin

g

Vir

tua

l W

orl

d

Source: CapitalIQ

Learning sector shows highest weekly returns


Price Performance – 1 Week

-80.0%

-60.0%

-40.0%

-20.0%

0.0%

20.0%

40.0%

60.0%

VO

ISW

DD

DY

IPI

SP

XA

ST

VI

HU

TC

RN

WK

A0

52

77

0A

CC

MG

LU

UA

IM:S

GO

UO

MO

NY

TC

HIN

.AM

KB

38

38

UN

TD

A0

23

77

0O

PW

VS

FL

YL

VW

DK

OS

E:A

06

9T

LE

O5

90

05

7O

TE

XT

SE

:36

32

MO

TR

BY

OC

A0

47

08

0S

EH

K:8

08

6W

ZE

A0

52

79

0T

RE

EL

OO

KV

CL

KT

SX

V:T

NG

GIG

MO

1B

C

GA

LO

VT

SX

:SC

RA

OL

TS

CM

TS

E:2

43

2A

06

62

70

SO

HU

CM

:DA

KIW

BO

ME

DIA

DB

:M0

CW

SE

:IG

RD

GT

WK

NT

HG

EO

1V

61

80

37

65

24

97

GR

VY

A0

95

66

0P

WR

DM

TG

B7

77

TS

X:C

X3

81

2F

RG

WS

E:P

GM

TS

X:N

LN

SC

LW

AS

X:J

MB

21

21

GT

SM

:30

83

38

88

TS

X:P

TS

WE

BM

SN

DA

CY

OU

DG

LP

RB

CI

TS

XV

:MM

CT

SX

V:U

SS

MY

RN

QP

SA

70

0T

SX

:MM

IAC

IIE

ET

SX

V:L

MU

NL

AN

CT

YA

CL

ZN

TE

ST

SX

V:P

NV

EL

XT

RA

:A5

AT

HW

IS

EH

K:2

15

NX

PC

MB

YL

ET

GI

PA

YD

DP

DM

IAS

C.A

Source: CapitalIQ


Price Performance (Top 10)

1 Month

0%

10%

20%

30%

40%

50%

60%

Ge

oS

en

tric

Oyj

Th

e9

Lim

ited

Lo

okS

ma

rt,

Ltd

.

Ne

Xp

lore

Co

rpo

ratio

n

MO

KO

.mo

bi

Lim

ite

d

Ne

tea

se.c

om

In

c.

Hu

tch

iso

n

Te

leco

mm

un

ica

tion

s H

on

g K

on

g

Ho

ldin

gs L

td.

Mo

bile

Da

ta C

orp

.

Kin

gso

ft

Co

rpo

ratio

n L

imite

d

So

hu

.co

m I

nc.

3 Month

0%

10%

20%

30%

40%

50%

60%

Fro

gste

r In

tera

ctive

Pic

ture

s A

G

Gre

e,

Inc.

Myriad G

roup A

G

Velti P

lc

Poin

ts I

nte

rnational

Ltd

.

Nete

ase.c

om

Inc.

HanbitS

oft

, In

c.

Hutc

his

on

Tele

com

munic

ations

Hong K

ong H

old

ings

Ltd

.

IAC

/Inte

rActiveC

orp

.

Valu

eC

lick,

Inc.

6 Month

0%

500%

1000%

1500%

2000%

2500%

3000%

OA

O R

BC

Info

rmation S

yste

ms

Beyond C

om

merc

e,

Inc. eP

ro L

td.

AQ

Inte

ractive,

Inc.

Hutc

his

on

Tele

com

munic

ations

Hong K

ong H

old

ings

Ltd

.

LookS

mart

, Ltd

.

Shutt

erf

ly,

Inc.

Gre

e,

Inc.

Poin

ts I

nte

rnational

Ltd

.

Fro

gste

r In

tera

ctive

Pic

ture

s A

G1 Year

0%

500%

1000%

1500%

2000%

2500%

3000%

3500%

OA

O R

BC

Info

rma

tion

Syst

em

s

Yip

py,

In

c.

eP

ro L

td.

Qu

ep

asa

Co

rp.

AQ

In

tera

ctiv

e,

Inc. Ve

lti P

lc

De

na

Co

. L

td.

Un

ise

rve

Co

mm

un

ica

tion

s

Co

rp.

Tra

nsG

am

ing

,

Inc.

Sco

re M

ed

ia I

nc.

Source: CapitalIQ


Price Performance (Bottom 10)

1 Week

-70.0%

-60.0%

-50.0%

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

Glu

Mobile

,

Inc.

Accre

dite

d

Mem

be

rs

Ho

ldin

g

Corp

ora

tion

YD

On

line

Co

rp.

Re

alN

etw

ork

s

Inc.

HU

GH

ES

Tele

matic

s,

Inc.

SN

AP

Inte

ractiv

e,

Inc.

Spec

trum

DN

A,

Inc.

Yip

py, In

c.

Worlds

.com

Inc

.

VO

IS, In

c.

1 Month

-70.0%

-60.0%

-50.0%

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

ise

em

edia

Inc

.

HU

GH

ES

Tele

ma

tics

,

Inc

.

Beyo

nd

Co

mm

erc

e,

Inc

.

Sp

ectr

um

DN

A,

Inc.

Dolp

hin

Dig

ital

Med

ia, In

c.

Worl

ds.c

om

Inc

.

VO

IS,

Inc

.

Liv

eW

orld

Inc

.

Acc

red

ited

Me

mb

ers

Hold

ing

Corp

ora

tion

Yip

py,

Inc

.

6 Month

-90.0%

-80.0%

-70.0%

-60.0%

-50.0%

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

Liv

eW

orld

Inc

.

isee

media

Inc

.

Dolp

hin

Dig

ital

Med

ia, In

c.

Lin

go M

edia

Corp

ora

tion

UO

MO

Media

,

Inc

Unila

va

Corp

ora

tion

Mobile

Data

Corp

.

Sp

ectr

um

DN

A,

Inc

.

VO

IS, In

c.

En2

Go

Inte

rnatio

nal,

Inc.

1 Year

-100.0%-90.0%-80.0%-70.0%-60.0%-50.0%-40.0%-30.0%-20.0%-10.0%

0.0%

Nort

hgate

Technolo

gie

s

Lim

ited

Wiz

zard

Softw

are

Corp

ora

tion

YD

Onlin

e

Corp

.

Moggle

, In

c

Liv

eW

orld Inc.

Cyberp

lex Inc.

Dolp

hin

Dig

ital

Media

, In

c.

Spectr

um

DN

A,

Inc.

Beyond

Com

merc

e,

Inc.

UO

MO

Media

,

Inc

Source: CapitalIQ


Capital Market Activity (Financing, M&A)


Financing Activity – Current Month

Company Name Country Sector Acquis ition Ange l/Seed Debt financing PIPE Ser ie s A Ser ie s B Se r ies C Se r ies D NA Grand Total

Playdom USA Gaming 763.0 763.0

ITA Softw are USA S earch 700.0 700.0

infoGROUP USA Advertis ing 644.9 644.9

Digital Sk y Technologies Rus s ia Divers if ied 388.0 388.0

Zynga USA Gaming 100.0 100.0

Atlas s ian Aus tralia Enterpris e 60.0 60. 0

Squares pace USA B log 38.5 38. 5

Sys omos Canada Analytic s 35.0 35. 0

J ive Softw are USA Collaboration 30.0 30. 0

Ads marke t Is rael Advertis ing 17.0 17. 0

BuyWithMe USA S ocial Commerce 16.0 16. 0

Shopkick USA S ocial Commerce 15.0 15. 0

hi5 USA S ocial Netw orks 14.0 14. 0

TurnHere USA Advertis ing 12.6 12. 6

C loudMade USA Inf ras truc ture 12.3 12. 3

Sportgenic USA Advertis ing 12.0 12. 0

Pixazza USA V is ual Commerce 12.0 12. 0

Beyond The Rack Canada S ocial Commerce 12.0 12. 0

OCTANE360 USA Advertis ing 10.9 10. 9

Flipboard USA Media 10.5 10. 5

7 S tar Ente rtainment USA Media 10.0 10. 0

Hot Potato USA S ocial Netw orks 10.0 10. 0

Flirtomatic UK S ocial Netw orks 9.0 9.0

My-wardrobe.com UK Internet R etail 9. 0 9.0

BuzzL ogic USA Advertis ing 8.8 8.8

InMobi India Advertis ing 8.0 8.0

AdSafe Media USA Advertis ing 7.3 7.3

MadBid.com UK Online Auction 6.2 6.2

Komli Media India Advertis ing 6.0 6.0

T rada USA V ertica l Communities 5.8 5.8

Zattikka USA Gaming 5.5 5.5

Compas s L abs USA Advertis ing 5.0 5.0

Aurora Fe int USA Gaming 5.0 5.0

Gis t USA Aggregation 4.0 4.0

Xgraph USA Analytic s 3. 8 3.8

Work s treamer USA Enterpris e 3. 5 3.5

Bus ines s Ins ider USA Media 3.0 3.0

Movitas USA Mobile 3. 0 3.0

Betable UK Gaming 3.0 3.0

Xtify USA Location-bas ed S NS 2.8 2.8

Plum Dis tr ic t USA S ocial Commerce 2.1 2.1

Vivox USA SMS /V oice 2. 0 2.0

ThredUP USA S ocial Commerce 1.7 1.7

PlacePop USA S ocial Netw orks 1. 4 1.4

GroupSpace s UK V ertica l Communities 1. 3 1.3

Matomy Is rael Widget 1. 0 1.0

Sailthru USA Analytic s 1. 0 1.0

PlayHaven USA Gaming 1.0 1.0

iGuiders USA S earch 1.0 1.0

SeatGeek USA Analytic s 1. 0 1.0

Soho OS USA Enterpris e 1. 0 1.0

Maven Res earch USA Comment/R eputation 1.0 1.0

Gendai Games USA Gaming 1.0 1.0

Hive7 USA Gaming 0.9 0.9

BlueSw arm USA S ocial Commerce 0.8 0.8

L ivefyre USA Comment/R eputation 0.8 0.8

T riangulate USA S ocial Netw orks 0. 8 0.8

Ze Frank Games USA Gaming 0.5 0.5

ConnectYard USA Collaboration 0.5 0.5

Kukunu UK Travel 0. 4 0.4

J igs ee Canada V ideo

2176.7 4.5 1.0 388.0 142.9 96.0 44.8 3.0 186.7 3043.4


Financing Activity – Current Month, by Sector

Other

48%

Gaming

11%

Advertising

41%

Search

0%

$ Raised # Deals

Other

49%

Gaming

22%

Advertising

24%

Search

5%


8.3

6.5

9.6

12.2

7.2

10.1

5.7

13.4

5.5

8.1

16.7

8.6

6.3

0.0

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

900.0

1000.0

Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10

(US

$m

)

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

(US

$m

)

Total Average per Deal LTM Total Average*Dec-09 includes $180m Zynga investment

Apr-10 includes $300m DST investment

Jun-10 includes $147m Zynga investment

Financing Activity

July Total Deal Value and Average Deal Value set high for the year


0.0

200.0

400.0

600.0

800.0

1,000.0

1,200.0

1,400.0

Gam

ing

Advert

isin

g

Searc

h

Div

ers

ified

Media

Socia

l Com

merc

e

Analy

tics

Inte

rnet R

eta

il

Colla

bora

tion

Ente

rprise

Socia

l Netw

ork

s

Mobile

Music

Virtu

al W

orld

Blo

g

Infr

astr

uctu

re

Vert

ical C

om

muniti

es

Locatio

n-b

ased S

NS

Vid

eo

SM

S/V

oic

e

Com

ment/R

eputa

tion

Mobile

Ad

Aggre

gatio

n

Virtu

al G

oods

Fin

ancia

l Serv

ices

Vis

ual C

om

merc

e

Wid

get

Mobile

Paym

ent

Publis

hin

g

Tra

vel

Onlin

e A

uctio

n

Mic

roblo

g

Onlin

e L

earn

ing

22 30 7 1 9 13 14 7 6 7 12 11 2 5 1 7 7 4 5 2 4 2 4 2 3 1 2 1 2 4 1 2 1

(US

$m

)

# companies

Capital Market Activity Ranking – by Sector, last three months

Gaming the biggest area of interest in the past

three months (22 deals, $1,205 mm)


Top 5 Sectors (2008-present)

$ Raised # Deals

0.0

100.0

200.0

300.0

400.0

500.0

600.0

700.0

Jan-0

8

Feb-0

8

Mar-

08

Apr-

08

May-0

8

Jun-0

8

Jul-08

Aug-0

8

Sep-0

8

Oct-

08

Nov-0

8

Dec-0

8

Jan-0

9

Feb-0

9

Mar-

09

Apr-

09

May-0

9

Jun-0

9

Jul-09

Aug-0

9

Sep-0

9

Oct-

09

Nov-0

9

Dec-0

9

Jan-1

0

Feb-1

0

Mar-

10

Apr-

10

May-1

0

Jun-1

0

Jul-10

Aug-1

0

(US

$ m

m)

Social Networks Gaming Advertising Video Diversified

0

5

10

15

20

25

30

Jan-0

8

Feb-0

8

Mar-

08

Apr-

08

May-0

8

Jun-0

8

Jul-08

Aug-0

8

Sep-0

8

Oct-

08

Nov-0

8

Dec-0

8

Jan-0

9

Feb-0

9

Mar-

09

Apr-

09

May-0

9

Jun-0

9

Jul-09

Aug-0

9

Sep-0

9

Oct-

09

Nov-0

9

Dec-0

9

Jan-1

0

Feb-1

0

Mar-

10

Apr-

10

May-1

0

Jun-1

0

Jul-10

Aug-1

0

(# D

eals

)

Advertising Social Networks Gaming Virtual World Video

75% of financing comes from Top 5 sectorsTop 5 sectors average $175 mm & 16 deals per month (aggregate)


Top 10 Deals (2010 YTD)

Financing Acquisitions

688.0

250.0

135.0

60.0 50.0 50.0 44.0 40.0 38.5 35.0

0.0

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

Dig

ita

l S

ky

Te

ch

no

log

ies

Zyn

ga

Gro

up

on

Atla

ssia

n

Gla

m M

ed

ia

Qiy

i

Liv

ing

So

cia

l

Tre

mo

r M

ed

ia

Sq

ua

resp

ace

Gilt G

rou

pe

763.0

700.0

644.9

225.0

187.5161.5 160.0

142.0126.5

110.0

0

100

200

300

400

500

600

700

800

900

Pla

yd

om

ITA

So

ftw

are

info

GR

OU

P

Sir

i

ICQ

Exa

lea

d

Tu

rbin

e

Jig

sa

w

Allo

y

Wo

ot

Disney’s Playdom acquisition (assuming full earn-out paid) rises to the top of the heap in deal value for the year at $763 mm


Upcoming Events/Earnings

Source: CapitalIQ

Company Date / Time Quarter Conf Call Details

AOL, Inc. (NYSE:AOL) Aug-04-2010 8:00 AM Q2/10 866-362-4820

TheStreet.com, Inc. (NasdaqGM:TSCM) Aug-04-2010 5:00 PM Q2/10 866-730-5767, passcode: 60148069

United Online, Inc. (NasdaqGS:UNTD) Aug-04-2010 5:00 PM Q2/10 877-874-1589, passcode: 8492532

ValueClick, Inc. (NasdaqGS:VCLK) Aug-05-2010 4:30 PM Q2/10 818-575-4677

Openw ave Systems Inc. (NasdaqGS:OPWV) Aug-05-2010 5:00 PM Q4/10 877-941-2068

Giant Interactive Group, Inc. (NYSE:GA) Aug-09, 2010 9:00 PM Q2/10 1-866-356-3093

CDC Corp. (NasdaqGS:CHIN.A) Aug-10, 2010 8:30 PM Q2/10 888-603-6873, passcode: 91985167

Points International Ltd. (TSX:PTS) Aug-10, 2010 5:00 PM Q2/10 877-941-8418

PNI Digital Media Inc. (TSXV:PN) Aug-11, 2010 4:30 PM Q3/10 888-300-8196, passcode: 88463806

Perfect World Co., Ltd. (NasdaqGS:PWRD) Aug-17, 2010 7:00 AM Q2/10 8666-519-4004, passcode: PWRD

Open Text Corp. (NasdaqGS:OTEX) Aug-18-2010 5:00 PM Q4/10 416-644-3414

The9 Limited (NasdaqGS:NCTY) Aug-24-2010 9:00 PM Q2/10 1-866-788-0538


Public Company ListingCompany Name Ticker Exchange

Trading

Currency HQ

Current

Price

US$ Market

C ap (mm) Employees

Accelerize New M edia, Inc. ACLZ OTCBB USD United States 0.55 17.2 10

Accredited M embers Holding Corporation ACCM OTCBB USD United States 0.65 19.0 8

Actoz Soft Co., Ltd. A052790 KOSE KRW South Korea 9,850 74.8 NA

AOL, Inc. AOL NYSE USD United States 21.12 2,253.9 6,700

AQ Interactive, Inc. 3838 TSE JPY Japan 160,900 102.1 NA

Asknet AG XTRA:A5A XTRA EUR Germany 3.17 21.1 NA

Beyond Commerce, Inc. BYOC OTCBB USD United States 0.06 3.6 16

CDC Corp. CHIN.A NasdaqGS USD Hong Kong 2.01 212.3 2,810

Changyou.com Limited CYOU NasdaqGS USD China 29.46 1,519.2 1,308

Chinese Gamer International GTSM :3083 GTSM TWD Taiwan 284.00 768.2 NA

Cyberplex Inc. TSX:CX TSX CAD Canada 0.61 43.3 NA

DADA SpA CM :DA CM EUR Italy 4.29 92.0 NA

Dena Co. Ltd. TSE:2432 TSE JPY Japan 2,344 3,887.8 NA

DigitalPost Interactive, Inc. DGLP OTCBB USD United States 0.05 6.9 6

DigitalTown, Inc. DGTW OTCBB USD United States 1.15 32.1 4

Dolphin Digital M edia, Inc. DPDM OTCBB USD United States 0.15 9.3 NA

En2Go International, Inc. ETGI OTCBB USD United States 0.15 3.6 NA

ePro Ltd. SEHK:8086 SEHK HKD Hong Kong 0.72 31.2 707

Frogster Interactive P ictures AG FRG XTRA EUR Germany 25.50 10,788.9 NA

Gamania Digital Entertainment Co., Ltd. 6180 GTSM TWD Taiwan 51.40 200.8 NA

GameOn Co Ltd. 3812 TSE JPY Japan 66,000 0.3 NA

GeoSentric Oyj GEO1V HLSE EUR Finland 0.03 2,031.1 130

Giant Interactive Group, Inc. GA NYSE USD China 6.76 1,535.8 1,575

GigaM edia Ltd. GIGM NasdaqGS USD Taiwan 2.07 114.6 NA

Glu M obile, Inc. GLUU NasdaqGM USD United States 1.25 38.3 479

Gravity Co., Ltd GRVY NasdaqGM USD South Korea 1.49 41.4 455

Gree, Inc. TSE:3632 TSE JPY Japan 6,780 242.6 NA

GungHo Online Entertainment, Inc. 3765 OSE JPY Japan 181,600 1,301.7 NA

HanbitSoft, Inc. A047080 KOSE KRW South Korea 5,100 0.1 NA

HUGHES Telematics, Inc. HUTC OTCBB USD United States 2.00 68.3 276

Hutchison Telecommunications Hong Kong Holdings Ltd.SEHK:215 SEHK HKD Hong Kong 2.00 339.6 1,732

IAC/InterActiveCorp. IACI NasdaqGS USD United States 25.20 2,635.8 3,200

IAS Energy, Inc. IASC.A OTCPK USD Canada 0.05 3.5 NA

Internet Group SA WSE:IGR WSE PLN Poland 0.90 1.9 NA

iseemedia Inc. IEE TSXV CAD Canada 0.08 9.5 NA

Jumbuck Entertainment Limited ASX:JM B ASX AUD Australia 0.20 6.2 79

Kent International Holdings Inc. KNTH OTCPK USD United States 1.90 6.8 NA


Public Company Listing cont.

Company Name Ticke r Exchange

Trading

Currency HQ

Current

Price

US$ Market

Cap (mm ) Employees

Kingsoft Corporation Limited 3888 SEHK HKD China 4.46 0.6 2,735

Kiwibox.Com, Inc. KIWB OTCBB USD United States 0.01 4.5 6

Lingo M edia Corporation TSXV:LM TSXV CAD Canada 0.47 0.6 NA

LiveWorld Inc. LVWD OTCPK USD United States 0.02 0.6 NA

LookSmart, Ltd. LOOK NasdaqGM USD United States 1.49 25.6 65

M ixi, Inc. 2121 TSE JPY Japan 474,000 0.0 NA

M obile Data Corp. M BYL OTCBB USD United States 0.06 1.4 NA

M odern Times Group M tg AB M TG B OM SEK Sweden 463.00 5.6 2,936

M oggle, Inc DB:M 0C DB EUR United States 0.85 11.8 2

M OKO.mobi Limited M KB ASX AUD Australia 0.08 173.4 NA

M ood M edia Corporation TSX:M M TSX CAD Canada 1.80 63.8 NA

M otricity, Inc. M OTR NasdaqGM USD United States 7.97 316.7 355

M ultiplied M edia Corporation TSXV:M M C TSXV CAD Canada 0.11 28.6 NA

M yriad Group AG M YRN SWX CHF Switzerland 4.77 222.9 778

NEOWIZ Games Corporation A095660 KOSE KRW South Korea 36,600 660.6 NA

NetDragon WebSoft, Inc. 777 SEHK HKD China 3.78 256.2 2,901

Netease.com Inc. NTES NasdaqGS USD China 39.63 5,146.1 4,624

NeuLion Incorporated TSX:NLN TSX CAD Canada 0.46 52.6 224

NeXplore Corporation NXPC OTCPK USD United States 0.40 22.3 NA

Ngi Group Inc. 2497 TSE JPY Japan 32,300 48.3 NA

Northgate Techno logies Limited 590057 BSE INR India 15.05 11.4 NA

OAO RBC Information Systems RBCI M ICEX RUB Russia 35.32 160.4 2,523

Open Text Corp. OTEX NasdaqGS USD Canada 39.61 2,249.1 3,700

Openwave Systems Inc. OPWV NasdaqGS USD United States 2.03 170.2 590

Oriented M edia Group Berhad OM EDIA KLSE M YR M alaysia 0.08 3.4 NA

Paid Inc. PAYD OTCBB USD United States 0.25 66.5 20

Perfect World Co., Ltd. PWRD NasdaqGS USD China 24.27 1,226.8 2,896

Platfo rma M ediowa Point Group S.A. WSE:PGM WSE PLN Poland 1.44 49.4 NA

PNI Digital M edia Inc. TSXV:PN TSXV CAD Canada 1.49 49.9 NA

Points International Ltd. TSX:PTS TSX CAD Canada 0.68 99.5 93

Quepasa Corp. QPSA OTCBB USD United States 3.80 49.2 71

RealNetworks Inc. RNWK NasdaqGS USD United States 3.17 428.7 1,754

Score M edia Inc. TSX:SCR TSX CAD Canada 0.90 71.4 230

Shanda Interactive Entertainment Ltd. SNDA NasdaqGS USD China 41.97 2,492.1 5,721

Shutterfly, Inc. SFLY NasdaqGS USD United States 24.94 680.1 519

SK Communications Co., Ltd. A066270 KOSE KRW South Korea 17,950 632.9 NA


Public Company Listing cont.

Company Name Ticker Exchange

Trading

Currency HQ

Current

Price

US$ Market

Cap (mm) Employees

SNAP Interactive, Inc. STVI OTCBB USD United States 0.15 4.9 15

SocialGO PLC AIM :SGO AIM GBP United Kingdom 0.01 6.5 9

Socialwise, Inc. SCLW OTCBB USD United States 0.45 22.5 NA

Sohu.com Inc. SOHU NasdaqGS USD China 47.51 1,796.7 3,997

Spark Networks, Inc. LOV AM EX USD United States 3.31 68.1 155

SpectrumDNA, Inc. SPXA OTCBB USD United States 0.05 3.5 8

Taleo Corp. TLEO NasdaqGM USD United States 25.86 1,028.2 916

Tencent Holdings Ltd. 700 SEHK HKD China 151.00 35,575.0 7,845

The New York Times Company NYT NYSE USD United States 8.90 1,295.8 7,665

The9 Limited NCTY NasdaqGS USD China 5.45 139.0 1,010

TheStreet.com, Inc. TSCM NasdaqGM USD United States 3.04 95.9 274

Thwapr, Inc. THWI OTCBB USD United States 5.00 82.9 NA

TransGaming, Inc. TSXV:TNG TSXV CAD Canada 0.57 33.1 28

Tree.Com, Inc. TREE NasdaqGM USD United States 6.87 74.4 700

Unilava Corporation UNLA OTCBB USD United States 0.06 6.1 40

Uniserve Communications Corp. TSXV:USS TSXV CAD Canada 0.11 3.1 NA

United Online, Inc. UNTD NasdaqGS USD United States 6.35 553.3 1,699

UOM O M edia, Inc UOM O OTCBB USD Canada 0.02 1.3 NA

ValueClick, Inc. VCLK NasdaqGS USD United States 11.15 906.8 1,086

Velti P lc VEL AIM GBP United Kingdom 4.27 255.5 459

VOIS, Inc. VOIS OTCBB USD United States 0.00 7.7 2

WebM ediaBrands Inc WEBM NasdaqGS USD United States 0.75 28.1 83

Webzen Inc. KOSE:A069080 KOSE KRW South Korea 10,150.00 102.9 326

Wizzard Software Corporation WZE AM EX USD United States 0.18 11.9 80

Worlds.com Inc. WDDD OTCBB USD United States 0.06 3.4 1

XING AG O1BC XTRA EUR Germany 28.50 194.5 293

YD Online Corp. A052770 KOSE KRW South Korea 3,540.00 45.5 NA

Yippy, Inc. YIPI OTCBB USD United States 1.16 26.3 NA

Ynk Korea Inc. A023770 KOSE KRW South Korea 2,705.00 18.5 NA

YouBlast Global, Inc. YBLT OTCBB USD United States 0.39 13.4 6


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Web 2.0 Weekly - Aug. 4, 2010: "Playdom is going to Disney World"

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