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The Changing Landscape of Global E-Commerce

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New winners, mounting brick and mortar casualties, & emerging financing trends in global e-commerce.

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The Changing Landscape of Global E-Commerce

  1. 1. @cbinsights www.cbinsights.com#globalecomm
  2. 2. @cbinsights www.cbinsights.com#globalecomm @cbinsights About Our Presenter – Michael Dempsey . 4 @mhdempsey mdempsey@cbinsights.com • Research Analyst, CB Insights • Published research and data analysis have been featured in The New York Times, Wall Street Journal, Financial Times, Bloomberg, and CNBC, among other major media outlets. • Graduate of New York University with B.A. in Economics
  3. 3. @cbinsights www.cbinsights.com#globalecomm @cbinsights Changing Landscape Of Global E-Commerce New winners, mounting brick and mortar casualties, & emerging financing trends 5
  4. 4. @cbinsights www.cbinsights.com#globalecomm 9 IN THE NEXT 30-45 MINUTES, WE’LL COVER… 1 The changing commerce landscape Shifting infrastructure and moving online 3 Momentum within e-commerce – areas & companies Which companies have traction? 4 Case study – Nordstrom Seeing around corners. How has Nordstrom moved strategically within e-commerce? 5 Where is e-commerce headed next? Where are the next innovations and growth going to come from within e-commerce? 2 The booming physical goods e-commerce funding environment Financing trends, top investors
  5. 5. @cbinsights www.cbinsights.com#globalecomm 10 WHAT IS PHYSICAL GOODS E-COMMERCE? Any startup/company focused on the sale or facilitation of a sale of a physical good. This includes apparel, food, electronics, multi-product marketplaces, and more. Startups selling services, such as many in on- demand space, are not included.
  6. 6. @cbinsights www.cbinsights.com#globalecomm THE CHANGING PHYSICAL GOODS COMMERCE MARKET Shifting infrastructure and moving online. 11
  7. 7. @cbinsights www.cbinsights.com#globalecomm 12 ARE INCUMBENTS BEING HURT BY E-COMMERCE? "Retail guys are going to go out of business and ecommerce will become the place everyone buys. You are not going to have a choice," he says. "We're still pre-death of retail, and we're already seeing a huge wave of growth. The best in class are going to get better and better. We view this as a long term opportunity.“ - Marc Andreessen, 2013 Source: Pando
  8. 8. @cbinsights www.cbinsights.com#globalecomm 13 SHORT ANSWER – YES. Source: About.com
  9. 9. @cbinsights www.cbinsights.com#globalecomm 14 SOME MAJOR PLAYERS HAVE UNDERPERFORMED Best Buy, Staples, JCPenney, Sears all significantly lag the S&P 500 in returns over last 5 years Source: Google Finance
  10. 10. @cbinsights www.cbinsights.com#globalecomm 15 HOWEVER SOME HAVE WEATHERED THE STORM OR BENEFITTED FROM ECONOMIC SHIFTS While Walmart and Target still lag the S&P 500 over the last 5 years, both have seen stock price growth of over 25%. TJX, which owns discount retailers T.J.Maxx and Marshalls has thrived, with the stock up over 240% over the last 5 years. Source: Google Finance
  11. 11. @cbinsights www.cbinsights.com#globalecomm 16 BUT INCUMBENT E-COMMERCE GIANTS HAVE SEEN ASTRONOMIC GROWTH Ebay and Amazon both saw stock prices grow over 150% in the last 5 years -- outperforming both the S&P 500 and the NASDAQ -- with eBay’s recent drop only coming due to the Paypal spinoff. Source: Google Finance
  12. 12. @cbinsights www.cbinsights.com#globalecomm 17 THE PRIVATE MARKET LANDSCAPE
  13. 13. @cbinsights www.cbinsights.com#globalecomm 18 GLOBAL INVESTMENT ACTIVITY PEAKING From $300M in Q1’10 to $4.9B in Q2’15. YoY funding to private VC-backed companies grew 238% from $4.7B in 2013 to $11.2B in 2014. Source: https://www.cbinsights.com/blog/fe-commerce-startup-growth-and-funding-trends/
  14. 14. @cbinsights www.cbinsights.com#globalecomm 19 HOW HAS THE FUNDING BEEN SPREAD OUT? Asia leads US and India with 28% of all physical goods e-commerce funding since 2010 at $9.97B. US dominates in deals at 45% share since 2010. Source: https://www.cbinsights.com/blog/funding-activity-us-china-india-e-commerce-mega-players/
  15. 15. @cbinsights www.cbinsights.com#globalecomm 20 ASIA: OVER $1B IN FUNDING FOR SIX STRAIGHT QUARTERS An increase of mega-rounds and deals have led to multiple $1B+ quarters in Asia. Source: CB Insights
  16. 16. @cbinsights www.cbinsights.com#globalecomm 21 NORTH AMERICA: Q2’15 IS FIRST $1B+ QUARTER Large rounds to ContextLogic ($500M Series C), Blue Apron ($135M Series D) and Warby Parker ($100M Series C) accounted for over half of the quarter’s funding. Source: CB Insights
  17. 17. @cbinsights www.cbinsights.com#globalecomm 22 EUROPE ACTIVITY DRIVEN BY FOOD & GROCERY Europe’s financing activity remains modest, however food & grocery related startups continue to be the main receivers of funding with 7 of the 10 largest deals since 2013 going to startups such as Delivery Hero, HelloFresh, and Foodpanda. Source: CB Insights
  18. 18. @cbinsights www.cbinsights.com#globalecomm 23 WHERE ARE THE UNICORNS? As of the end of Q2’15 there were 22 physical goods e-commerce Unicorns. Asia leads with 9, with North America (8) and Europe (5) trailing. Source: https://www.cbinsights.com/blog/unicorn-companies-e-commerce/ AsiaNorth America Europe
  19. 19. @cbinsights www.cbinsights.com#globalecomm 24 UNICORNS BY COUNTRY United States, China, and India account for 68% of all unicorns. Source: https://www.cbinsights.com/blog/unicorn-companies-e-commerce/
  20. 20. @cbinsights www.cbinsights.com#globalecomm E-COMMERCE INVESTOR ANALYSIS Who is most active, who are the unusual suspects 25
  21. 21. @cbinsights www.cbinsights.com#globalecomm AN ATTRACTIVE MARKET MEANS THE SMART MONEY IS INCREASINGLY ACTIVE Some VC investors (top decile funds) are good at seeing around corners Source: https://www.cbinsights.com/blog/e-commerce-investments-top-venture-capital-firms/ 26
  22. 22. @cbinsights www.cbinsights.com#globalecomm THE SMART MONEY SOCIAL GRAPH A visual representation of some of the smart money VCs and their investments in physical goods e-commerce companies. Source: https://www.cbinsights.com/blog/e-commerce-investments-top-venture-capital-firms/ 27
  23. 23. @cbinsights www.cbinsights.com#globalecomm 28 CORPORATES HAVE ALSO GOTTEN ACTIVE Corporates and corporate venture groups have been increasingly active, with 20+ deals per quarter for 9 straight quarters and rounds participated in topping $1B in 4 of the last 6 quarters. Source: https://www.cbinsights.com/blog/corporate-investments-in-e-commerce-statistics/
  24. 24. @cbinsights www.cbinsights.com#globalecomm 29 CHINA CAPTURING BULK OF CORPORATE FUNDING Large rounds to Jingdong, Dianping, Ele.me have all featured corporate investors and have accounted for over $3B in funding alone since 2010. Source: https://www.cbinsights.com/blog/corporate-investments-in-e-commerce-statistics/
  25. 25. @cbinsights www.cbinsights.com#globalecomm 30 CORPORATE ACTIVITY IS SPREAD ACROSS MULTIPLE VERTICALS This includes on-demand, food delivery, apparel, home furnishings, multi-product commerce, and more. A few of the most active corporates below Source: https://www.cbinsights.com/blog/corporate-investments-in-e-commerce-statistics/ Corporate Investor E-Commerce Investments
  26. 26. @cbinsights www.cbinsights.com#globalecomm 31 LARGE ENTRENCHED PLAYERS ARE INVESTING IN E-COMMERCE Source: http://www.slideshare.net/divanteltd/ecommerce-trends-from-2014-to-2015 Company 2013 E-Commerce Sales Country HQ Amazon $74B United States JD.com $11B China Walmart $10B United States eBay $9B United States Otto Group $8B Germany Alibaba (non wholesale) $4B China Groupe Casino (Cnova) $4B France Tesco $4B United Kingdom Rakuten $3B Japan Best Buy $3B United States
  27. 27. @cbinsights www.cbinsights.com#globalecomm 32 MAJOR PLAYERS ARE INVESTING AND ACQUIRING TO STAY AHEAD Source: CB Insights Recent E-Commerce Investments / Acquisitions Recent E-Commerce Tech Investments / Acquisitions Company Description Round Yummy77 Chinese online food vendor Corp Minority // $20M (May 2014) Company Description Round Mojio Telematics Series A (June 2015) ShoeFitr Online shoe fitting Acquisition (April 2015) Yodel Delivery Network UK parcel delivery Corp Minority // $14.4M (March 2015)
  28. 28. @cbinsights www.cbinsights.com#globalecomm 33 MAJOR PLAYERS ARE INVESTING AND ACQUIRING TO STAY AHEAD Source: CB Insights Recent E-Commerce Investments / Acquisitions Company Description Round Ele.me Online food ordering site Series F // $630M (August 2015) Maimaibao Information Technology SMS-based mobile retailer Series D // Undisclosed (July 2015) Fruitday.com Online fruit shopping Series C // $70M (May 2015) Daojia Online food ordering site targeting middle class Series D // $50M (September 2014)
  29. 29. @cbinsights www.cbinsights.com#globalecomm 34 MAJOR PLAYERS ARE INVESTING AND ACQUIRING TO STAY AHEAD Source: CB Insights Recent E-Commerce Investments / Acquisitions Company Description Round Giosis Multi-product online marketplace targeting Asia Series A // $82.1M (July 2015) Rumgr Location based marketplace for secondhand goods Acquired (October 2014) Quikr Online classifieds site Series G // $60M (September 2014) Snapdeal Multi-product daily deals Series D // $133.7M (February 2014)
  30. 30. @cbinsights www.cbinsights.com#globalecomm 35 MAJOR PLAYERS ARE INVESTING AND ACQUIRING TO STAY AHEAD Source: CB Insights Recent E-Commerce Investments / Acquisitions Company Description Round Shenghuo Banjin Information Technology Online and mobile food delivery Corporate Minority // $42M (August 2015) Snapdeal Multi-product daily deals Corporate Minority // $500M (August 2015) Mei.com Online flash sales for luxury goods Corporate Minority // Undisclosed (July 2015) Jet.com Multi-product discount e- commerce Convertible Note // $140M (February 2015)
  31. 31. @cbinsights www.cbinsights.com#globalecomm 36 PACK OF HEDGE FUNDS AND MUTUAL FUNDS ALSO MOVING IN AT THE LATE-STAGE And in the cases of investors like Tiger Global and Dragoneer, among others, even earlier. Source: https://www.cbinsights.com/blog/crossover-investors-quadruple-funding-e-commerce-companies-2014/
  32. 32. @cbinsights www.cbinsights.com#globalecomm 37 Crossover Investor Physical Goods E-Commerce Investments SOME OF THE TOP CROSSOVER INVESTORS IN PHYSICAL GOODS E-COMMERCE
  33. 33. @cbinsights www.cbinsights.com#globalecomm 38 VC Investor Select Physical Goods E-Commerce Investments THE MOST ACTIVE VC INVESTORS IN PHYSICAL GOODS E-COMMERCE SINCE 2010
  34. 34. @cbinsights www.cbinsights.com#globalecomm 39 VC Investor Select Physical Goods E-Commerce Investments THE MOST ACTIVE VC INVESTORS IN PHYSICAL GOODS E-COMMERCE SINCE 2010
  35. 35. @cbinsights www.cbinsights.com#globalecomm THE STARTUP CHALLENGERS Emerging companies with momentum 40
  36. 36. @cbinsights www.cbinsights.com#globalecomm @cbinsights COMPANY MOSAIC – ILLIQUID DOESN’T HAVE TO MEAN OPAQUE Assessing the health of opaque private companies using public data. The National Science Foundation has funded the development of Company Mosaic. What is Company Mosaic? Quantitative framework to algorithmically measure the overall health and growth potential of private companies. Companies scored on a 0 to 1000 scale. It tracks 3 Ms for each company based on non- traditional signals such as: • Momentum – Uses signals ranging from hiring growth, exec turnover, news volume and sentiment, customer & partner signings, product development velocity, web traffic, mobile app data, and social media chatter • Market – Uses Market Mosaic to assess health of industry the company competes in • Money – Financial strength and viability of company based on burn rate, financing history and investor quality 41
  37. 37. @cbinsights www.cbinsights.com#globalecomm 42 COMPANY MOSAIC IN PRACTICE Source: CB Insights Honest Company Profile
  38. 38. @cbinsights www.cbinsights.com#globalecomm 43 Company Company Mosaic Score HIGH COMPANY MOSAIC SCORES - MARKETPLACES These marketplace companies have a strong Mosaic trend. They’re in the top 10% of all private tech companies based on their Company Mosaic scores. 900 890 880 880 Recent Headlines / Highlights
  39. 39. @cbinsights www.cbinsights.com#globalecomm 44 Company Company Mosaic Score HIGH COMPANY MOSAIC SCORES – BRANDS These brands have demonstrated consistent Mosaic strength. They’re in the top 10% of all private tech companies based on their Company Mosaic scores. 920 910 800 780 Recent Headlines / Highlights
  40. 40. @cbinsights www.cbinsights.com#globalecomm Company Company Mosaic Score HIGH COMPANY MOSAIC SCORES – ON-DEMAND These on-demand companies have demonstrated consistent Mosaic strength. They’re in the top 10% of all private tech companies based on their Company Mosaic scores. 930 910 910 890 Recent Headlines / Highlights 45
  41. 41. @cbinsights www.cbinsights.com#globalecomm 46 Company Last funding date E-COMMERCE STARTUP WATCHLIST Using CB Insights company search, we identified a few startups that haven’t raised funding in more than a year and who may be worth keeping an eye on for hiring/M&A purposes. Oct 2011 Description Online high-end wine marketplace. Downsized and shutdown UK operations in July 2012. Dec 2012 Shut down multiple international offices in November 2013. Co-founder Bridgitte Wittekind also left. Recently claimed profitability. Has raised $72M disclosed to date. Source: CB Insights May 2014 On-demand prepared meals app. Rivals Sprig and Munchery have each raised $45M+ rounds in recent months. Shut down in Seattle only 4 months after launch.
  42. 42. @cbinsights www.cbinsights.com#ondemandnext CASE STUDY: A MULTI-CHANNEL RETAILER’S MOVE TO E-COMMERCE 47
  43. 43. @cbinsights www.cbinsights.com#globalecomm 48 2009: NORDSTROM INTEGRATES E-COMMERCE AND STORE INVENTORY SYSTEMS - Jamie Nordstrom, President of Stores, Nordstrom “We can sell more without having to buy more inventory. That plays through to margins and, ultimately, earnings.” Source: New York Times
  44. 44. @cbinsights www.cbinsights.com#globalecomm 49 FEBRUARY 2011: NORDSTROM ACQUIRES FLASH SALES SITE HAUTELOOK FOR $270M - Blake Nordstrom, Co- President, Nordstrom February 17, 2011 “While our focus on providing a superior in- store shopping experience is our roots, continuing to find ways to use technology to serve customers the way they want to be served is critical. This partnership gives Nordstrom and HauteLook shared growth opportunities as online shopping evolves." Source: Nordstrom
  45. 45. @cbinsights www.cbinsights.com#globalecomm @cbinsights Jan 2011 Jan 2012 Jan 2013 Jan 2014 Jan 2015 Date of Partnership Nordstrom innovates with e-commerce & retail partnerships NORDSTROM FORMS NOTABLE E-COMMERCE PARTNERSHIPS OVER TIME 50
  46. 46. @cbinsights www.cbinsights.com#globalecomm Company Date Description August 2015 Warby Parker agrees to first national department store deal to sell select frames in “pop-in” test. February 2015 Nordstrom agrees to be the sole seller of Madewell clothing outside of parent co. J. Crew. April 2014 Nordstrom begins selling jewelry from Baublebar in 35 stores and online. February 2014 Nordstrom integrates trending products from Wanelo onto wall displays and online. March 2013 Etsy agrees to pilot Etsy Wholesale in Nordstrom stores in At Home department. April 2012 Nordstrom invests in Bonobos and partners as first retailer to stock Bonobos clothing for sale. NORDSTROM PARTNERSHIPS 51
  47. 47. @cbinsights www.cbinsights.com#globalecomm Company Round Details Description $8M // Series B (07/15) Lifestyle brand of women’s shoes, bags, and accessories Acquired // $350M (08/14) Trunk Club offers a curated selection of casual clothing via delivery $30M // Series C-III (03/13) Online clothing brand focused on men’s fitted shirts, suits, and pants Corporate Minority (06/13) Online gift-giving marketplace. Shut down in September 2013. Acquired // $270M (02/11) Flash sales website for fashion, accessories, and home brands. NORDSTROM’S INVESTMENTS & ACQUISITIONS 52
  48. 48. @cbinsights www.cbinsights.com#globalecomm 53 2015: NORDSTROM’S INVESTMENTS AND ACQUISITIONS IN E-COMMERCE PAY OFF ““We continued to see the ongoing evolution of retail with the accelerated growth in e-commerce, the continuing importance of stores and the increasing customer interaction between them…Customers increasingly expect a personalized experience that merges the richness of stores with the convenience of online.” - Blake Nordstrom, Nordstrom Co- President on FY 2014 earnings call Source: Fox Business
  49. 49. @cbinsights www.cbinsights.com#globalecomm THE FASTER PACE OF DISRUPTION Why incumbent players need to move quickly 54
  50. 50. @cbinsights www.cbinsights.com#globalecomm 55 IT’S HARDER THAN EVER TO STAY ON TOP… The lifespan of an S&P 500 company is shorter and shorter.
  51. 51. @cbinsights www.cbinsights.com#globalecomm 56 TODAY’S EMERGING BUSINESS MODELS & STARTUPS BECOME TOMORROW’S PROBLEMS Source: Clay Christensen Disruptive Innovation Framework
  52. 52. @cbinsights www.cbinsights.com#globalecomm 57 INCUMBENTS ARE VALIDATING NEW E-COMMERCE MODELS Matt Maloney, CEO of GrubHub, said new non- restaurant kitchen food delivery models a la Munchery and Sprig are a new opportunity for the $3B company. Maloney said orders from delivery-only kitchens comprise somewhere in the low-single digits of current orders but “expects the segment to grow exponentially in the near future.” Source: WSJ
  53. 53. @cbinsights www.cbinsights.com#globalecomm 58 THERE IS PLENTY OF ROOM FOR OPPORTUNITY, EVEN IN THE US Source: Rocket Internet
  54. 54. @cbinsights www.cbinsights.com#globalecomm 59 AND STARTUPS ARE TRYING TO CAPITALIZE ON THOSE OPPORTUNITIES Maybe too many… Source: https://www.cbinsights.com/blog/food-delivery-startups-crowded-market/
  55. 55. @cbinsights www.cbinsights.com#globalecomm 60 EMERGING BUSINESS MODELS Direct-to-Consumer Subscription Commerce On-Demand Secondhand products Source: CB Insights
  56. 56. @cbinsights www.cbinsights.com#globalecomm 61 CONSUMER FACING BRANDS CAN REACH CONSUMERS EASIER THAN EVER BEFORE Startups are invading the domain Procter & Gamble Source: https://www.cbinsights.com/blog/disrupting-procter-gamble-cpg-startups/
  57. 57. @cbinsights www.cbinsights.com#globalecomm 62 THIS EXTENDS TO FASHION AS WELL A new crop of direct-to-consumer or plain e-commerce brands are attacking major fashion retailers. Source: https://www.cbinsights.com/blog/startup-fashion-brands/
  58. 58. @cbinsights www.cbinsights.com#globalecomm 63 …AND FUNDING IS FOLLOWING Funding thus far in 2015 has topped $200M and already surpassed all of 2014. Source: https://www.cbinsights.com/blog/startup-fashion-brands/
  59. 59. @cbinsights www.cbinsights.com#globalecomm 64 STARTUPS ARE EVEN GOING BRICK AND MORTAR What’s old is new again. Many startups have either opened pop-up or full scale brick and mortar shops. Image Sources: Birchbox Quote Source: CNBC, Sparksheet "A lot of people see Internet as next-generation and brick-and-mortar as being traditional. The way we see it is as a physical space that we can leverage to communicate our brand value,“ - Ethan Song, Founder, Frank & Oak “Most people in retail think the instant gratification of walking out with the product is a core part of the retail experience…“It’s not. It has been astonishing how little our customer cares.” - Andy Dunn, Founder, Bonobos
  60. 60. @cbinsights www.cbinsights.com#globalecomm 65 OTHER TRENDS Source: http://www.slideshare.net/divanteltd/ecommerce-trends-from-2014-to-2015 • 70% of US E-Commerce shipments during 2014 included free shipping. • Cyber Monday Sales reached $2.3B, up 29% year before. • Next frontier is free shipping on returns • Mobile e-commerce sees higher sales share in emerging economies (India at ~42%+, China at ~33%)
  61. 61. @cbinsights www.cbinsights.com#globalecomm WHAT’S NEXT IN E-COMMERCE? 66
  62. 62. @cbinsights www.cbinsights.com#globalecomm 67 RETAIL E-COMMERCE SHARE CONTINUES TO INCREASE E-commerce now accounts for over 6% of all quarterly retail sales Source: US Department of Commerce
  63. 63. @cbinsights www.cbinsights.com#globalecomm 68 GLOBAL E-COMMERCE SALES EXPECTED TO TOP $2 TRILLION IN 2017 Growth of 60% from 2012 to 2015, and 39% from 2015 to 2018. Source: http://www.slideshare.net/divanteltd/ecommerce-trends-from-2014-to-2015
  64. 64. @cbinsights www.cbinsights.com#globalecomm 69 DIGITAL BUYER PENETRATION IS RISING GLOBALLY China and India continue to drive growth in Asia, while more developed markets like Japan rival US, UK, and Western Europe in penetration and average order value. Source: eMarketer
  65. 65. @cbinsights www.cbinsights.com#globalecomm 70 ASIA CONTINUES TO STEAL E-COMMERCE SALES SHARE The US continues to lose share of global e-commerce sales as Asia is expected to go from 31.2% in 2014 to 37.4% in 2018. Source: eMarketer
  66. 66. @cbinsights www.cbinsights.com#globalecomm 71 EXITS ARE BOOMING E-Commerce exits hit highs in 2014. Included many large exits such as Alibaba, Jingdong, Zalando, and Zulily. Source: https://www.cbinsights.com/blog/e-commerce-ipos-acquisitions-exits-data/
  67. 67. @cbinsights www.cbinsights.com#globalecomm 72 …BUT PUBLIC MARKETS HAVE NOT BEEN KIND TO RECENT IPOs
  68. 68. @cbinsights www.cbinsights.com#globalecomm 73 COULD POOR PUBLIC MARKET PERFORMANCE LEAD TO CONSOLIDATION? A few relevant examples
  69. 69. @cbinsights www.cbinsights.com#globalecomm 74 WILL WE SEE INCREASED STRATEGIC M&A? Rocket Internet’s Global Online Takeaway Group is a perfect example of this. Source: Rocket Internet
  70. 70. @cbinsights www.cbinsights.com#globalecomm WHAT WILL DRIVE THE GROWTH IN THE REST OF THE WORLD? 75
  71. 71. @cbinsights www.cbinsights.com#globalecomm 76 ECONOMIC CATALYSTS LEAVE INVESTORS POURING MONEY INTO ASIAN STARTUPS $100M+ financings to Asian startups nearly tripled, growing from 7 in 2013 to 20 in 2014. Source: CB Insights
  72. 72. @cbinsights www.cbinsights.com#globalecomm 77 AND THE GROWTH IS CERTAINLY THERE Alibaba scaled its GMV to Amazon’s level in just 6 years and has seen explosive growth since 2011. JD.com has nearly reached $50B in GMV in just 4 years. Source: http://www.kpcb.com/internet-trends
  73. 73. @cbinsights www.cbinsights.com#globalecomm 78 INTERNET USER PENETRATION IS ONE DRIVER China has surpassed 40% on drastic growth. Experts see the next few years as India’s potential breakout moment. Source: http://www.kpcb.com/internet-trends
  74. 74. @cbinsights www.cbinsights.com#globalecomm 79 BUT IS ALL THE GROWTH SUSTAINABLE? Take rates are incredibly low for these high growth services, but this isn’t the first time tech has sacrificed economics for growth. Source: http://www.kpcb.com/internet-trends
  75. 75. @cbinsights www.cbinsights.com#globalecomm QUESTIONS, GETTING UNDERLYING DATA & HELPFUL LINKS 80
  76. 76. @cbinsights www.cbinsights.com#globalecomm HAVE QUESTIONS / WANT ACCESS TO THE UNDERLYING DATA? The underlying financing, acquisition, etc data in this presentation is available on CB Insights. Our Customer Success Team Reach out to your manager. If unsure, email myself or Jonathan McKenna jmckenna@cbinsights.com anand.sanwal@cbinsights.com Reach out to Anand anand.sanwal@cbinsights.com or Set up a free trial account Existing Customer? Not a Customer? 81
  77. 77. @cbinsights www.cbinsights.com#globalecomm 82 INVESTOR / ACQUIRER PROFILES Investor/Acquirer Profile Link SV Angel Investor Profile Accel Partners Investor Profile 500 Startups Investor Profile
  78. 78. @cbinsights www.cbinsights.com#globalecomm 83 INVESTOR / ACQUIRER PROFILES Investor/Acquirer Profile Link BoxGroup Investor Profile Andreessen Horowitz Investor Profile
  79. 79. @cbinsights www.cbinsights.com#globalecomm 84 Company Company Mosaic Score COMPANY PROFILES – HIGH MOSAIC SCORES 900 890 880 880 Company profile page Poshmark Company Profile Page Wish Company Profile Page Flipkart Company Profile Page The Honest Company Profile Page
  80. 80. @cbinsights www.cbinsights.com#globalecomm 85 Company Company Mosaic Score Company profile page Warby Parker Company Profile Page Harry’s Company Profile Page Dollar Shave Club Company Profile Page COMPANY PROFILES – HIGH MOSAIC SCORES 920 910 800 780 Frank & Oak Company Profile Page
  81. 81. @cbinsights www.cbinsights.com#globalecomm 86 Company Company Mosaic Score Recent Headlines / Highlights Deliveroo Company Profile Page Munchery Company Profile Page Instacart Company Profile Page DoorDash Company Profile Page COMPANY PROFILES – HIGH MOSAIC SCORES 930 910 910 890
  82. 82. @cbinsights www.cbinsights.com#globalecomm @cbinsights About Our Presenter – Michael Dempsey . 87 • Research Analyst, CB Insights • Published research and data analysis have been featured in The New York Times, Wall Street Journal, Financial Times, Bloomberg, and CNBC, among other major media outlets. • Graduate of New York University with B.A. in Economics @mhdempsey mdempsey@cbinsights.com
  83. 83. @cbinsights www.cbinsights.com#globalecomm Web | www.cbinsights.com Twitter | @cbinsights Tel | 212.292.3148