NOAH Disruptor List
The NOAH Conference Berlin 2
Disruptor Financing by Segment The amount invested in the leading European disruptors is only around a third of that in the US Capital Invested in Leading Disruptors by Sector ($m) Mobility 0.6 8.6 9.2 6% 1.9 5.7 7.6 26% 4.2 1.9 6.1 68% Only segment where the European raised more funds than the US disruptors Media, Telecom & Gaming 1.4 3.7 5.1 27% Healthcare & Science 0.2 2.1 2.3 9% Total Capital Invested by Region Fitness, Wearables & Sports 0.1 2.2 2.3 5% 26% Advertising 0.9 1.4 2.3 39% Home Automation 0.2 1.5 1.7 12% Travel & Tourism 0.5 1 1.5 33% 74% Education 0.1 1.2 1.2 8% Europe US % EU Share Note: Data only includes the 10 largest funding in the segment considered. 3
Largest Disruptors by Funding The Unicorns revealed! 1,300 Uber 5,900 Mobility 781 Avant 1,600 689 2001 Pinterest 1,300 Media Telecom & Gaming 538 Media Telecom & Gaming Lending Club 1,262 502 Tesla 1,058 Mobility 2003 313 Advertising 2005 Lyft 863 Mobility 300 Airbnb 795 Travel & Tourism 282 2005 Sofi 766 273 Gopro 715 Fitness, Wearables & Sports 2003 271 1998 Ondeck 628 263 Magic Leap 592 Fitness Wearables & Sports 207 Mobility Square 591 205 ability 583 Healthcare & Science 2000 195 Vice 580 Media Telecom & Gaming 194 jawbone 519 Fitness, Wearables & Sports 1999 179 Tinder 500 Media, Telecom & Gaming 177 Sonos 454 Home Automation 2002 172 wework 362 Mobility 151 Home Automation slack 340 Media, Telecom & Gaming 2013 148 Etsy 334 2005 4
Mobility ($9.2bn) The most well-funded segment, fueled by soaring appetite for on demand taxi services gett 207 On demand Ç taxi Uber 5,900 On demand taxi BlaBlaCar 101 Peer-to-peer Ç ride sharing Tesla 1,058 Smart car manufacturer 2003 Hailo 101 On demand taxi Lyft 863 On demand taxi Moovit 82 Travel information WeWork 362 Shared workspace mytaxi 25 On demand taxi INRIX 143 Travel information 2004 Blacklane 23 On demand taxi RelayRides 63 Peer-to-peer car rental Cabify 15 On demand taxi Handy 61 On demand services Drivy 11 Peer-to-peer car rental Postmates 58 Online logistics Citymapper 10 Travel information Streetline 50 Travel information Carma 10 Peer-to-peer ride sharing Getaround 43 Peer-to-peer car rental Most Active Investors in Europe Funding - Europe vs. US Most Active Investors in the US Europe US 6% $0.6bn 94% $8.6bn Note: Data only includes the 10 largest funding in the segment considered. 5
($7.6bn) Online payments and credit are on rise and so is the capital injected Adyen 300 Online Payments Avant 1,600 Online loan Klarna 282 Online Payments 2005 Lending Club 1,262 Online loan Funding Circle 273 Peer-to-peer financing Sofi 766 Online loan Kreditech 263 Online credit Ondeck 628 Business loan Powa Technologies 177 Mobile payment Square 591 Mobile payment Borro 172 Online loans Mozido 307 Mobile payment WorldRemit 148 Money transfer Stripe 200 Online & mobile payment Wonga 145 Online credit Wealthfront 130 Wealth management izettle 115 Mobile payment Taulia 91 Invoicing and payments etoro 90 Money transfer Coupa Software 89 Payment software Most Active Investors in Europe Europe US 74% $5.7bn Funding - Europe vs. US 26% $1.9bn Most Active Investors in the US Note: Data only includes the 10 largest funding in the segment considered. 6
($6.1bn) A competitive, fragmented space driven by strong vertical champions 1,300 Food delivery Etsy 334 2005 Zalando 781 Instacart 275 Food delivery Just Eat 689 Food delivery 2001 JustFab 254 Privalia 502 Jet 225 2014 ozon.ru 271 1998 One Kings Lane 225 205 HARRY'S 211 Farfetch 195 Honest Co. 122 HelloFresh 194 Food delivery Warby Parker 116 WestWing 179 GrubHub 112 Food delivery 2004 Takeaway.com 118 Food delivery 2000 Nasty Gal 65 Most Active Investors in Europe Funding - Europe vs. US Most Active Investors in the US US Europe 32% $1.9bn 68% $4.2bn Note: Data only includes the 10 largest funding in the segment considered. 7
Media, Telecom & Gaming ($5.1bn) The oldest, largest internet segment with the most multi-billion dollar companies Spotify 538 Online music Pinterest 1,300 Social network Deezeer 149 Online music Vice Media 580 Online media Kobalt 140 Online music 2000 Tinder 500 Social network Shazam 125 Online music 2002 Slack 340 Connectivity 2013 SoundCloud 123 Online music Mode Media 245 Online media Truecaller 80 Telecom Nextdoor 210 Social network Silent Circle 80 Telecom Roku 153 Online video 2002 Fon 72 Telecom Kaltura 116 Online video LiveU 50 Online video Vox Media 108 Online media Wooga 32 Gaming Twilio 104 Cloud services Most Active Investors in Europe Funding - Europe vs. US Most Active Investors in the US Europe US 28% $1.4bn 72% $3.7bn Note: Data only includes the 10 largest funding in the segment considered. 8
Healthcare & Science ($2.3bn) US received most of the funding EU promising, but at toddler stage 72 Gesture capture 583 Cloud-based services 2000 35 Social network 295 Health insurance 2013 32 Disease monitoring 2001 292 Lead generation 2001 27 Disease monitoring 153 Analytics 11 Lead generation 141 Disease monitoring 10 Disease monitoring 139 Analytics 10 Analytics 2004 136 Lead generation 9 Lead generation 2013 128 Analytics 9 Disease monitoring 125 Analytics 2013 3 Lead generation 2013 98 Lead generation Most Active Investors in Europe Funding - Europe vs. US Most Active Investors in the US Europe US 10% $0.2bn 9% $2.1bn Notes: Data only includes the 10 largest funding in the segment considered. 1. Acquired by MedImmune. 9
Fitness, Wearables & Sports ($2.3bn) The new frontier is backed by prominent investors and strong consumer sentiment 34 Health tracking device 715 Sports video 2003 33 Sports information 592 Augmented reality 15 Visual information 519 Health tracking device 1999 15 Sports analytics 84 Health tracking device 12 Sports video 77 Sports analytics 7 Health tracking app 63 Health tracking device 6 Marketplace 54 Marketplace 5 Health tracking device 2013 44 Motion detection 4 Motion detection 39 Sports analytics 4 Sports analytics 35 Sports Analytics 1996 Most Active Investors in Europe Funding - Europe vs. US Most Active Investors in the US Europe US 5% $0.1bn 95% $2.2bn Note: Data only includes the 10 largest funding in the segment considered. 10
Advertising ($2.3bn) A highly competitive space with large corporations holding strong industry positions 313 Retargeter 2005 New Relic 330 Analytics 105 App Delivery AppNexus 288 Ad Platform 87 Ad Network 2000 INRIX 143 Marketing Software 2002 81 Ad Network Videology 134 Ad Network 77 Mobile Advertising Sprinklr 124 Marketing Software 75 Analytics Return Path 97 Email Marketing 1999 45 Augmented Reality App Annie 94 Analytics 44 Analytics AdRoll 89 Retargeter 35 35 Marketing Software Analytics 2002 Urban Airship xad 77 74 Marketing Software Mobile Advertising Most Active Investors in Europe Funding - Europe vs. US Most Active Investors in the US Europe US 38% $0.9bn 62% $1.4bn Note: Data only includes the 10 largest funding in the segment considered. 11
Home Automation ($1.8bn) Surging investment activity, as homes are getting smarter SIGFOX 151 M2M communication 454 Smart home devices 2002 Electric Imp 23 Smart home platform 214 Marketplace Neul 19 M2M communication 205 Smart home platform 2004 tado 16 Smart home devices 157 Smart home platform 2003 orderbird AG 8 Smart home platform 119 M2M communication yetu 6 Smart home platform 94 Smart home platform 2003 Humavox 6 Smart home device 87 Smart home platform Scypho 6 Smart home devices 80 Smart home devices Netatmo 2 Smart home devices 57 Home security coodo 1 Smart home devices 56 Smart home devices Most Active Investors in Europe Funding - Europe vs. US Most Active Investors in the US Europe US 14% $0.2bn 86% $1.5bn Note: Data only includes the 10 largest funding in the segment considered. 12
Travel & Tourism ($1.5bn) Expedia and Priceline consolidating the industry while VCs have funded players in niches 137 Online Travel Agent 1996 Pinterest 795 Peer-to-peer rental 90 Peer-to-peer rental Vice Media 81 Online Travel Agent 69 Travel Technology Tinder 44 Online Travel Agent 60 Peer-to-peer rental Slack 39 Social Network 56 Peer-to-peer rental Mode Media 25 Lead Generation 44 Social Network Nextdoor 9 Online Travel Agent 31 Online Travel Agent Roku 8 Social Network 13 Online Travel Agent Kaltura 7 Social Network 5 Travel operator Vox Media 7 Lead Generation 5 Travel Metasearch 2003 BookingPal 7 Peer-to-peer rental 2013 Most Active Investors in Europe Funding - Europe vs. US Most Active Investors in the US Europe US 32% $0.5bn 68% $1.0bn Note: Data only includes the 10 largest funding in the segment considered. 13
Education ($1.3bn) Pearson managed to move digital while the industry is still looking for a strong disruptor 30 Academic education 216 Content distribution 2000 Lecturio 11 Content Distribution 169 IT courses Babbel 10 Foreign language 165 Content distribution 2013 Peak 10 Training app 106 Specialty 2001 Quipper 10 Education management 105 Content distribution Tonara 10 Specialty education 100 Social network Brainly 10 Social network 95 Content distribution iversity 7 Content distribution 88 Social network Memrise 6 Foreign language 85 Content distribution Docebo 6 Training management 2005 79 Training management Most Active Investors in Europe Funding - Europe vs. US Most Active Investors in the US Europe US 8% $0.1bn 92% $1.2bn Note: Data only includes the 10 largest funding in the segment considered. 14
NOAH Berlin Concept Presenting Companies by Industry Verticals Presenting Companies by Industry Verticals Keynotes & Other Sessions Advertising Healthcare & Science Fitness, Wearables & Sport Insurance & Finance Education Co-Hosted by Travel & Tourism Strategic Partners Mobility Home Automation Media, Telecom & Gaming 15
Main Stage Program 16 Latest Online Program >>
The NOAH Ecosystem Large'Cap'Internet' Other' Venture'Capital' Early Stage Media' Where Business Gets Done!! Investors Internet Corporates Growth'Capital' Service Providers Late Stage Recrui5ng' PR' Legal' Buyout' Accoun5ng' Banking' Press' The$graphic$reflects$only$a$small$selec3on$of$current/past$a7 ending$companies$ Includes only a small sample of companies regularly attending NOAH Conferences. 17
Winners on Stage Date Company (First on Stage) Headquarters Buyer Valuation ($m) M&A May-11 () Luxembourg 8,000 Nov-13 () Sweden Multiple Mega Fund Raises 5,000 Jan-14 () UK 2,800 Nov-13 () Germany 2,500 Feb-14 (2013) Russia Multiple Mega Fund Raises 1,800 Nov-12 () USA 1,800 Mar-15 () UK 1,550 Jan-14 () France (minority) 1,500+ Dec-14 () Netherlands Mega Multiple Fund Raises 1,500 Jun-13 () USA 1,100 Dec-12 () Germany 1,050 Sep-14 () Germany (undisclosed %) 1,000 Sep-14 () UK 1,000 Mar-14 (2013) Sweden Multiple Mega Fund Raises 1,000 Mar-14 () Czech Republic 1,000 Jan-11 () France 846 Oct-13 () UK (undisclosed %) 800 Dec-14 () France 800 Jan-15 () UK 680 May-15 (2013) Turkey 665 Apr-11 () Germany (60%) 600 Feb-13 () Spain 345 Jan-11 () UK 320 Oct-12 () Germany 311 Jul-12 () Czech Republic 250 May-14 () Israel 228 Mar-15 (2013) Germany 215 Oct-14 () Denmark 210 Jul-14 (2013) Switzerland Multiple Mega Fund Raises 200 May-14 () Turkey 200 Oct-14 () Germany 190 Sep-14 () Italy 100+ Oct-14 () Spain 100 Jun-14 (2013) Israel 100 Oct-13 () Israel 100 Oct-12 () Germany 50 IPO Current Market Cap ($m) Oct-14 (2013) Germany IPO 7,600 Sep-14 (2013) Germany IPO 7,500 Mar-14 () UK IPO 7,400 Oct-10 () UK IPO 3,700 Oct-13 () France IPO 2,700 Jan-12 () Czech Republic IPO 1,200 Nov-13 () Israel IPO 895 Apr-14 (2013) Spain IPO 440 Apr-14 () Switzerland IPO 280 Jul-14 () Israel IPO 194 18
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