EFTA02683587

/VC EXPERTS The "Company Intelligence Report" by VC Experts is aimed at providing specific deal terms and estimated post-money valuations for the venture-backed company. Included in the report are national, regional, and industry averages, company comparisons, investment rounds with deal terms, price per share, estimated fully diluted shares, and valuation trends. VC Experts has compiled this intense level of data from Federal and State regulatory filings as well as strategic partners to aid in better transparency of private company information. AliphCom AKA: Jawbone, the company develops noise cancellation technology that eliminates dynamic background noise. Known for its popular Bluetooth headsets, they are the creator of an award-winning line of intelligent Bluetooth headsets (Jawbone ERA & ICON), the inventor of NoiseAssassin technology, the world's first and only military-grade noise-eliminating technology, of JAMBOX, the first intelligent wireless speaker and speakerphone, as well as THOUGHTS, a free mobile service that allows users to utilize their voice in a new way. • Address: 99 Rhode Island Street, 3rd Floor, San Francisco, CA, 94103 • Geographic Region: Silicon Valley • industry: Consumer Products and Services, Electronics / Instrumentation, Telecommunications • sic Codes: 3679 - Electronic Components • NAICS codes: 334419 - Other Electronic Component Manufacturing • Legal Counsel: Cooley LLP • Company Webslte: FIUD:HWViW.jaWbOne.COM/ Key Management • Luna, Michael - CTO • Horowitz, Benjamin - DifeCtOr • Weiden, David - ()troth,* • Asseily, Alexander - Director • Botha, Roelof - ()verity • Mayer, Marissa - ()two: • Williams, Michael - °rector. rawat:N a st•attg y • Youssef. Rachad 0,rector. Proctucl Management • Rahman, Hosain - Fcvtaer. CEO °lector • Mount, Melinda . Premiere • Drysdale, Richard - SVP • Tchakarov, Marin - vP & Head a F.nanco • Bogard, Travis - vP Prelim management & Strategy • Robison, Jeremiah - VP. Software Investors • J.P. Morgan Chase & Co. • Undisclosed Firm • Mayfield Fund • Khosla Ventures LLC • Kleiner Perkins Caufleld & Byers LLC • Sequoia Capital • Andreessen Horowitz LLC • Thomer Ventures • Undisclosed Venture Firm Similar Companies EFTA_R1_02001399 EFTA02683587 /VC EXPERTS Investment Data Date 04/14/2014 Preferred Price Per Share: $11.27 Round: Senes E or greater Direction: Up Round Liquidation Preference: Senior Liquidation Multiple: 0 - lx Stock Type: Conventional Convertible Capped Participation: No Amount Date Amount 09/12/2013 $63.99 Preferred Price Per Share: $7.19 Round: Series E or greater Direction: Flat Round Liquidation Preference: Senior Liquidation Multiple: 0 - lx Stock Type: Conventional Convertible Capped Participation: No Date 03/09/2012 Date 07/13/2011 Amount $24.32 Amount $40.00 Preferred Price Per Share: $7.19 Round: Series E or greater Direction: Up Round Liquidation Preference: Pari Passu Liquidation Multiple: 0 - lx Stock Type: Conventional Convertible Capped Participation: No Valuation Valuation 51,817,000.701 Valuation Valuation 51,443,778.864 Est. Fully Diluted Shares Participating Preferred Cap: Anti-Dilution: Weighted Average Redemption: No Cumulative Dividends: Yes Dividend Rate: 10 Reorganization: No Pay to Play: No Pay to Play Penalties: - Est. Fully Diluted Shares 252.672.487 Participating Preferred Cap: Anti-Dilution: Weighted Average Redemption: No Cumulative Dividends: No Dividend Rate: 8 Reorganization: No Pay to Play: No Pay to Play Penalties: • Eat. Fully Diluted Shares Est. Fully Diluted Shares 200.772,182 Participating Preferred Cap: - Anti-Dilution: Weighted Average Redemption: No Cumulative Dividends: No Dividend Rate: 8 Reorganization: No Pay to Play: No Pay to Play Penalties: - Preferred Price Per Share $11.27 Preferred Price Per Share $7.19 Preferred Price Per Share Preferred Price Per Share $7.19 EFTA_R1_02001400 EFTA02683588 Date Amount 03/16/2011 S29.00 Preferred Price Per Share: $3.93 Round: Series E or greater Direction: Up Round Liquidation Preference: Senior Liquidation Multiple: >1 - 2x Stock Type: Conventional Convertible Capped Participation: No Date Amount 01/06/2008 $30.00 Preferred Price Per Share: $1.35 Round: Series E or greater Direction: Up Round Liquidation Preference: Senior Liquidation Multiple: 0 - lx Stock Typo: Conventional Convertible Capped Participation: No Date Amount 11/08/2007 $2.00 Preferred Price Per Share: $0.18 Round: Series D Direction: Down Round Liquidation Preference: Senior Liquidation Multiple: 0 - lx Stock Type: Participating Preferred Capped Participation: Yes Date Amount 07/18/2007 $4.00 Preferred Price Per Share: $0.18 Round: Series Direction: Down Round Liquidation Preference: Senior Liquidation Multiple: 0 - Ix Valuation $731,416.169 Valuation $197.102,074 Valuation $21,268,788 Valuation $14.340.063 Est. Fully Diluted Shams 186.300.604 Participating Preferred Cap: - Anti-Dilution: Weighted Average Redemption: No Cumulative Dividends: No Dividend Rate: 8 Reorganization: No Pay to Play: No Pay to Play Penalties: - Est. Fully Diluted Shares 145,796.341 Participating Preferred Cap: - Anti-Dilution: Weighted Average Redemption: No Cumulative Dividends: No Dividend Rate: 8 Reorganization: No Pay to Play: No Pay to Play Penalties: - Est. Fully Diluted Shares 119,68%294 Participating Preferred Cap: 3 Anti-Dilution: Weighted Average Redemption: Yes Cumulative Dividends: No Dividend Rate: 8 Reorganization: No Pay to Play: No Pay to Play Penalties: - Est. Fully Diluted Shares 80.698.162 Participating Preferred Cap: 3 Anti-Dilution: Weighted Average Redemption: Yes Cumulative Dividends: No Dividend Rate: 8 Preferred Price Per Share $3.93 Preferred Price Per Share 51.35 Preferred Price Per Share $0.18 Preferred Price Per Share $0.18 EFTA_R1_02001401 EFTA02683589 Stock Type: Participating Preferred Reorganization: No Capped Participation: Yes Pay to Play: No Pay to Play Penalties: - Data Amount Valuation Est. Fully Diluted Shares Preferred Price Per Share 04/24/2003 55.00 Date Amount Valuation Est. Fully Diluted Shams Preferred Price Per Share 04/30/2001 51.00 EFTA_R1_02001402 EFTA02683590 /VC EXPERTS Fair Market Value per Common Share Ong Date Shares Price per Share 09/20/2013 12.000.000 51.07 04/01/2011 2,016.000 50.54 08/18/2010 5.800.000 50.36 10/16/2007 44,263.800 50.03 03/09/2006 8.117.180 50.01 EFTA_R1_02001403 EFTA02683591 /VC EXPERTS Price Per Share With Valuation Valuation Preferred PPS Common PPS 1.82 Billion 1.64 Billion 1.45 Billion 1.27 Billion c 1.09 Billion 76 909 Million 727 Million 545 Million 363 Million 182 Million 01/31/2007 - 12/26/2007 • r O CO O ■ 06/25/2012 - 05/20/2013 - $11.27 $10.14 $9.01 $7.89 $6.76 $5.63 Q. cO a_ $4.51 $3.38 $2.25 $1.13 $0.00 EFTA_R1_02001404 EFTA02683592 /VC EXPERTS Valuation Valuation Date PPS Oa 07/18/2007 $14,340063.00 07/1812007 $0.18 03/09/2006 50.01 11/08/2007 $21268/88.00 11/08/2007 50.18 10/16/2007 50.03 01/06/2008 5197.102.074.00 01/06/2008 $1.35 08/18/2010 50.36 03/16/2011 5731,416,169.00 03/16/2011 $3.93 04/01/2011 50.54 07/13/2011 51,443,778,864.00 07/13/2011 $7.19 09/20/2013 $1.07 09/12/2013 51.817.000.701.00 09/122013 $7.19 04/14/2014 a $11.27 Preferred PPS Common PPS EFTA_R1_02001405 EFTA02683593 /VC EXPERTS Flings Filing Certificates of Incorporation Certificates of Incorporation Certificates of Incorporation Certificates of Incorporation Certificates of Incorporation Certificates of Incorporation Certificates of Incorporation Certificates of Incorporation Employee Plan Exemption Notice Employee Plan Exemption Notice Employee Plan Exemption Notice Employee Plan Exemption Notice Employee Plan Exemption Notice Limited Offenng Exemption Notice Limited Offering Exemption Notice Limited Offering Exemption Notice Limited Offering Exemption Notice Limited Offering Exemption Notice Form D Form D Form D Form D Form D Regulation D Regulation D Regulation 0 Regulation 0 Regulation D Regulation 0 Regulation D Regulation D Filing Date 02/18/2014 07/08/2013 12/05/2011 06/08/2011 03/04/2011 12/21/2007 09/19/2007 06127/2007 09/20/2013 04/01/2011 08/18/2010 10/16/2007 03/09/2006 09/19/2013 06/25/2013 03/06/2009 03/13/2008 10/12/2007 09/12/2013 03/26/2012 03/12/2012 08/02/2011 03/25/2011 01/15/2008 01/07/2008 11/14/2007 07/24/2007 09/25/2006 12106/2004 05/09/2003 06/06/2002 EFTA_R1_02001406 EFTA02683594 /VC EXPERTS What Do The Deal Terms Mean? Preferred Stock: A class of capital stock that may pay dividends at a specified rate and that has priority over common stock in the payment of dividends and the liquidation of assets. Many venture capital funds use preferred stock as their investment vehicle. This preferred stock is convertible into common stock. Dividends: The payments designated by the Board of Directors to be distributed among the shares outstanding. The type of share determines the amount. On preferred shares, it is generally a fixed amount. With common shares, the dividend can be omitted if the Directors decide to invest the money in a capital expenditure or if the business is slumping. If the dividend is paid, the amount varies depending on the amount of cash on hand. There are several types of dividends: Cumulative—Missed dividend payments that continue to accrue. Non-cumulative—Missed dividend payments that do not accrue. Liquidation Preference/Multiple: The amount per share that a holder of a given series of Preferred Stock will receive prior to distribution of amounts to holders of other series of Preferred Stock or Common Stock. This is usually designated as a multiple of the Issue Price. for example 2X or 3X, and there may be multiple layers of Liquidation Preferences as different groups of investors buy shares in different series. For example, holders of Series B Preferred Stock may be entitled to receive 3X their Issue Price. and then if any money is left. holders of Series A Preferred Stock may be entitled to receive 2X their Issue Price and then holders of Common Stock receive whatever is left. The trigger for the payment of the Liquidation Preference is typically a sale or liquidation of the company, such as a merger or sale of assets. Conventional Convertible Preferred Stock: A type of preferred stock that can also be referred to as Non-Participating Preferred Stock. This preferred stock typically receives a liquidation preference prior to the common stock, and does not participate on an as if converted basis with common stock in any remaining proceeds of a defined liquidation event. Upon such a liquidation event. holders of Conventional Convertible Preferred Stock must choose whether to receive their liquidation preference or convert their shares to Common Stock in order to participate in the pro rata distribution of assets. Participating Preferred Stock: A preferred stock entitles the owner to receive a predetermined sum of cash (usually the original investment plus accrued dividends). and also allows its holders to participate on an as-if-converted-basis with the common stock holders in any remaining proceeds of a defined liquidation event. The Nattier need not elect to convert or receive the liquidation preferred. hence the name double dip. The right, however, to double dip may be capped at. say, the recoup of sale proceeds no greater than 2X. or two times the liquidation preference; to make more, the holder must convert. Anti Dilution Protection: Contractual measures that allow investors in convertible preferred shares an automatic reduction in the conversion price, meaning more common shares on conversion, if a subsequent round is a down round, thereby mitigating down round dilution. Full Ratchet Anti Dilution: The sale of a single share at a price less than the favored investors paid reduces the conversion price of the favored investors' convertible preferred stock to the penny, for example, from $1.00 to 50 cents, regardless of the number of lower priced shares sold. Weighted Average Anti Dilution: The investor's conversion price is reduced, and thus the number of common shares received on conversion increased, in the case of a down round: it takes into account both: (a) the reduced price and. (b) how many shares (or rights) are issued in the dilutive financing. Learn more about Weighted Average Anti Dilution Payto-Play Provisions: A Pay to Play provision is a requirement for an existing investor to participate in a subsequent investment round, especially a Down Round. Where Pay to Play provisions exist, an investors failure to purchase its pro-rata portion of a subsequent investment round will result in conversion of that investors Preferred Stock into Common Stock or another less valuable series of Preferred Stock. Redeemable Preferred Stock: Redeemable preferred stock, also known as exploding preferred, is redeemable at its cost plus accrued dividends. at the holder's option after (typically) five years. which in turn gives the holders (potentially converting to creditors) leverage to induce the company to arrange a liquidity event. The threat of creditor status can move the founders off the dime if a liquidity event is not occurring with sufficient rapidity. Post-Money Valuation: The valuation of a company immediately after the most recent round of financing. For example. a venture capitalist may invest S3.5 million in a company valued at $2 million pre-money (before the investment was made). As a result, the startup will have a post-money valuation of $5.5 million. View more private company financing terms in VC Experts Glossary. EFTA_R1_02001407 EFTA02683595 VC Experts.com, Inc. Disclaimer: The information contained herein is from sources deemed reliable; it does not, however, purport to constitute investment advice nor does VC Experts represent that it contains all information concerning the identified Company deemed necessary or appropriate for investment decisions. VC Experts is neither a broker/dealer nor investment adviser and has no financial interest in the Company analyzed nor in the sale or purchase of any of its securities. The information and data are for reference purposes only and no implied or expressed warranties or assurances as to its accuracy or completeness are furnished by VC Experts. Estimates of valuation are, as indicated, estimates based on such information as we found available, the completeness or which is neither represented or guaranteed: users for any purpose are cautioned and required to undertake and perform their own investigations and due diligence. To the extent that the information incorporates content from specified sources of financial information, VC Experts disclaims any responsibility for the accuracy or completeness of such content. About VC Experts : VC Experts provides powerful data on the financing of private companies. along with industry•leading content on fundraising. We conduct exhaustive analyses of all state and federal regulatory filings by private companies. Information gathered by VC Experts includes valuations. share prices, terms and conditions, board members, and behind the scenes details for improved deal context. We maintain an online library of 6.000 articles and more than 300 downloadable forms commonly used to construct private equity investment agreements. VC Experts has become an indispensable resource for entrepreneurs, investors. lawyers, and various services provides in the venture capital and private equity industries. EFTA_R1_02001408 EFTA02683596