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.

1. SOFTWARE & SERVICES 8 DECEMBER 2009
DAVID SHORE, CFA, MBA 416.860.6784
WEB 2.O WEEKLY david.shore@researchcapital.com
Damian Wojcichowsky, CFA (Associate), 416.860.7652
LATTER HALF OF 2009: FORGING FORWARD
D EAL VAL U E ON PA C E T O M E ET N OV E MB E R L E V EL
December starts at strong pace: Total transaction value in the W eb 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 $9.0 million (26 deals).
Financing Activity Last Twelve Months
400.0 16.0
14.6
350.0 14.0
300.0 12.0
11.3
9.8
250.0 10.0
9.0
(US$m)
(US$m)
200.0 7.6 8.0
7.1
6.7 6.6
6.5 6.3
6.2
150.0 5.6 6.0
4.9
100.0 4.0
50.0 2.0
0.0 0.0
Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09
*May-09 includes $200m FB investment Total Average
Broad-based sector financing: Video, Gaming, Advertising, Collaboration, and Analytics experienced the most
financing activity among our W eb 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
W orlds 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.
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
Eighty-nine public Web 2.0 companies: Our W eb 2.0 universe contains 89 companies, with a combined market cap of
approximately $71 billion (Figure 1). The median market cap for the group is $41 million, with average trailing revenue of
$164 million (median $52 million). The companies are also generally profitable with a median EBITDA margin of 11.1%.
On a valuation basis, the overall average is 5.3x trailing revenue (median 1.6x) and 11.0x trailing EBITDA (median 7.8x).
Twenty of the companies have more than 500 employees.
C omparable C ompany Analys is > Web 2.0
Trading C urrent US D Market US D L TM Total US D L TM Total E B ITDA TE V/L TM TE V/L TM
C ompany Name L TM as of Ticker E xc hange C urrency HQ P rice C ap ($m) R ev ($m) E B ITDA ($m) % R evenue E B ITDA E mployees
Accelerize New Media , Inc. 9/30/2009 AC LZ OT C B B US D United S ta tes 0. 55 15. 8 4. 1 (1.5) -36. 5% 5. 0x - 11
Actoz S oft C o. , Ltd. 9/30/2009 A052790 K OS E KR W S outh K orea 20,800 151. 1 115.9 25. 7 22. 2% 1. 0x 4. 3x NA
AQ Interactive, Inc. 9/30/2009 3838 TS E JPY J a pan 40,550 24. 7 74. 0 3.8 5.1% 0. 0x 0. 5x NA
As knet AG 9/30/2009 X T R A:A5A XT R A E UR G ermany 4 26. 5 103.6 (2.4) NM - - 3
As s ociated Media Holdings Inc. 6/30/2007 AS MH OT C P K US D United S ta tes 0. 76 32. 9 0. 1 (2.3) NM - - 3
B igs tring C orp. 9/30/2009 BS GC OT C B B US D United S ta tes 0. 03 1.8 0. 1 (1.0) NM 44.4x - 4
B eta wave C orporation 9/30/2009 B W AV OT C B B US D United S ta tes 0. 09 2.5 8. 4 (14. 3) NM - - 48
B eyond C ommerce, Inc. 9/30/2009 B Y OC OT C B B US D United S ta tes 0. 05 2.7 13. 5 (12. 4) -91. 9% 1. 1x - 86
B right T hings plc 3/31/2009 AIM: B G T AIM GBP United K ingdom 0. 01 5.3 0. 0 (2.7) NM - - NA
B roa dW ebAs ia Inc. 9/30/2008 BWBA OT C P K US D United S ta tes 0. 05 4.2 0. 0 (4.6) NM - - 46
C DC C orp. 9/30/2009 C HIN. A Na s daqG S US D Hong K ong 2. 43 257. 5 334.2 20. 0 6.0% 0. 7x 11. 3x 2, 227
C hangyou. com L imited 9/30/2009 C Y OU Na s daqG S US D C hina 30. 99 1,704. 5 255.3 157.4 61. 7% 5. 5x 8. 8x 628
C hina G a teway C orporation 9/30/2008 CGWY OT C P K US D United S ta tes 0. 01 0.2 6. 7 (6.6) -98. 9% 0. 0x - 37
C hines e G amer Interna tiona l 9/30/2009 G T S M: 3083 GTS M TWD T aiwa n 426 1,103. 5 68. 3 39. 6 58. 0% 15.0x 25. 8x NA
C LIC K E R Inc. 5/31/2009 C LK Z OT C B B US D United S ta tes 0. 01 0.5 2. 5 (1.2) -45. 8% 0. 2x - 22
C ornerW orld C orpora tion 7/31/2009 CWR L OT C B B US D United S ta tes 0. 03 2.9 6. 8 NM NM 1. 9x - 16
C yberplex Inc. 9/30/2009 T S X :C X TS X C AD C anada 1 74. 1 105.6 11. 7 11. 1% 0. 5x 4. 6x NA
DADA S pA 6/30/2009 C M: DA CM E UR Italy 6. 28 149. 0 241.9 31. 8 13. 1% 0. 8x 6. 2x NA
DXN Holdings B hd 8/31/2009 DX N K LS E MY R Ma la ys ia 0. 57 36. 9 77. 3 (84. 0) NM 0. 6x - NA
Dibz International, Inc. NA DIB Z OT C P K US D United S ta tes 0. 00 0.0 NA NM NM - - NA
DigitalP os t Interactive, Inc. 9/30/2009 DG LP OT C B B US D United S ta tes 0. 05 4.6 1. 2 (0.9) -73. 8% 5. 7x - 7
DigitalT own, Inc. 8/31/2009 DG T W OT C B B US D United S ta tes 1. 40 38. 3 0. 0 (1.8) NM - - 3
Dolphin Digital Media , Inc. 9/30/2009 DP DM OT C B B US D United S ta tes 0. 27 15. 4 0. 3 (4.6) NM - - NA
E olith C o. Ltd. 12/31/2008 A041060 K OS E KR W S outh K orea 540 66. 8 15. 4 (3.6) -23. 6% 4. 5x - NA
E xtens ions , Inc. 9/30/2009 E XT I OT C P K US D United S ta tes 0. 30 13. 3 0. 0 NM NM - - 2
F luid Mus ic C a nada , Inc. 9/30/2009 T S X :F MN TS X C AD United S ta tes 1. 80 104. 4 5. 6 (3.0) -54. 0% 18.2x - NA
F rogs ter Interactive P ictures AG 6/30/2009 FRG XT R A E UR G ermany 18. 75 70. 4 9. 6 (4.5) -47. 0% 7. 2x - NA
G ama nia Digita l E ntertainment C o., Ltd. 9/30/2009 6180 GTS M TWD T aiwa n 47. 10 222. 9 151.2 24. 9 16. 5% 1. 3x 8. 0x NA
G ameOn C o Ltd. 9/30/2009 3812 TS E JPY J a pan 65,500 70. 8 79. 3 18. 6 23. 5% - - NA
G eoS entric O yj 9/30/2009 G E O 1V HL S E E UR F inland 0. 05 65. 8 4. 7 (19. 0) NM 14.8x - 118
G iant Interactive G roup, Inc. 9/30/2009 GA NY S E US D C hina 7 1,628. 3 202.2 137.9 68. 2% - - 1, 570
G iga Media Ltd. 3/31/2009 G IG M Na s daqG S US D T aiwa n 3. 86 210. 4 183.6 NM NM 0. 7x - 751
G ravity C o., Ltd 9/30/2009 GR VY Na s daqG M US D S outh K orea 1. 46 40. 6 49. 9 17. 7 35. 4% - - 469
G ree, Inc. 9/30/2009 T S E : 3632 TS E JPY J a pan 4,440 2,222. 9 210.3 122.2 58. 1% 10.1x 17. 4x NA
G ungHo O nline E ntertainment, Inc. 9/30/2009 3765 OS E JPY J a pan 154,000 197. 3 120.7 26. 9 22. 3% 1. 3x 5. 9x NA
HanbitS oft, Inc. 9/30/2009 A047080 K OS E KR W S outh K orea 3,900 71. 6 57. 6 (0.3) -0.6% 1. 0x - NA
IAC /InterActiveC orp. 9/30/2009 IAC I Na s daqG S US D United S ta tes 19. 00 2,507. 4 1, 359. 6 82. 4 6.1% 0. 6x 10. 5x 3, 200
IAS E nergy, Inc. 4/30/2009 IAS A. E OT C B B US D C anada 0. 11 7.8 0. 0 (0.6) NM - - NA
is eemedia Inc. 9/30/2009 IE E T S XV C AD C anada 0. 19 9.2 1. 8 (4.1) NM 5. 3x - NA
J umbuck E nterta inment Limited 6/30/2009 AS X :J MB AS X AUD Aus tralia 0. 32 13. 6 16. 7 7.2 42. 8% 0. 4x 1. 0x 79
K AB Dis tribution Inc. 6/30/2009 T S X :K AB TS X C AD C anada 0 0.6 67. 9 4.0 5.8% - - NA
K ings oft C o. Ltd. 9/30/2009 3888 S E HK HK D C hina 6 796. 9 143.4 57. 6 40. 2% 5. 1x 12. 8x 2, 271
Lingo Media C orporation 9/30/2009 T S X V :LM T S XV C AD C anada 0. 96 11. 0 1. 3 (2.3) NM 8. 1x - NA
LiveW orld Inc. 9/30/2009 LVW D OT C P K US D United S ta tes 0. 03 1.0 10. 4 0.4 4.1% - - NA
LookS mart, Ltd. 9/30/2009 L OO K Na s daqG M US D United S ta tes 1. 07 18. 3 54. 0 (4.5) -8.4% - - 90
Magnitude Information S ys tems Inc. 9/30/2009 MAG Y OT C B B US D United S ta tes 0. 02 10. 2 0. 1 (2.3) NM - - 14
Mixi, Inc. 9/30/2009 2121 TS E JPY J a pan 784000. 00 1,351. 0 139.6 46. 1 33. 0% 8. 7x 26. 4x NA
Modern T imes G roup Mtg AB 9/30/2009 MT G B OM SEK S weden 329. 60 3,119. 2 2, 002. 6 282.9 14. 1% 1. 8x 12. 9x 2, 969
MO K O .mobi Limited 6/30/2009 MK B AS X AUD Aus tralia 0. 14 12. 5 0. 7 (2.4) NM 16.6x - NA
Myriad G roup AG 6/30/2009 MY R N SWX C HF S witzerland 4. 84 207. 5 63. 0 3.4 5.4% 3. 2x - 405
NE O W IZ G ames C orpora tion 12/31/2008 A095660 K OS E KR W S outh K orea 44200. 00 780. 8 207.3 55. 7 26. 8% 3. 7x 13. 8x NA
NetDragon W ebS oft, Inc. 9/30/2009 777 S E HK HK D C hina 4 295. 3 91. 4 27. 8 30. 4% 1. 6x 5. 2x 2, 426
Neteas e. com Inc. 9/30/2009 NT E S Na s daqG S US D C hina 37. 23 4,818. 6 482.9 291.8 60. 4% - - 3, 109
NeuLion Incorporated 9/30/2009 T S X :NLN TS X C AD C anada 0. 70 74. 9 24. 9 (16. 1) -64. 5% 2. 5x - 237
NeXplore C orporation 6/30/2009 NX P C OT C P K US D United S ta tes 1 37. 9 1. 7 (13. 3) NM 24.6x - NA
Ngi G roup Inc. 9/30/2009 2497 TS E JPY J a pan 24140. 00 33. 4 81. 7 3.2 3.9% - - NA
Northgate T echnologies L imited 9/30/2009 590057 BSE INR India 30. 55 22. 2 46. 4 (49. 8) NM 0. 5x - NA
O pen T ext C orp. 9/30/2009 OT E X Na s daqG S US D C anada 39. 22 2,211. 3 814.5 211.1 25. 9% 2. 8x 10. 8x 3, 900
O penwave S ys tems Inc. 9/30/2009 OP W V Na s daqG S US D United S ta tes 2. 24 187. 1 190.5 6.2 3.3% 0. 4x 13. 2x 590
P erfect W orld C o. , Ltd. 9/30/2009 PWRD Na s daqG S US D C hina 43. 35 2,157. 0 286.1 157.4 55. 0% 0. 5x 0. 8x 2, 096
P NI Digital Media Inc. 6/30/2009 T S X V :P N T S XV C AD C anada 1. 71 53. 8 21. 0 2.3 11. 0% 2. 5x 22. 4x NA
Q uepa s a C orp. 9/30/2009 QP S A OT C B B US D United S ta tes 2 21. 6 0. 2 (9.8) 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. 60 222. 0 157.4 20. 6 13. 1% 0. 0x 0. 4x NA
S handa Interactive E nterta inment Ltd. 9/30/2009 S NDA Na s daqG S US D C hina 51. 64 3,473. 1 694.3 317.2 45. 7% - - 3, 124
S hutterfly, Inc. 9/30/2009 S FLY Na s daqG S US D United S ta tes 15. 76 404. 6 223.1 27. 0 12. 1% 1. 3x 10. 8x 514
S K C ommunications C o., Ltd. 12/31/2008 A066270 K OS E KR W S outh K orea 9550. 00 335. 1 192.7 12. 5 6.5% 1. 7x 26. 7x NA
S NAP Interactive, Inc. 9/30/2009 S TVI OT C B B US D United S ta tes 0 3.3 3. 4 0.5 15. 6% 0. 5x 3. 2x 11
S NM G loba l Holdings 9/30/2008 S NMN OT C P K US D United S ta tes 0. 00 0.0 2. 0 (0.7) -34. 8% 1. 1x - 33
S ocial Media V entures Inc. 12/31/2008 S MV I OT C P K US D United S ta tes 0 0.0 0. 1 (0.1) -60. 6% 4. 5x - NA
S ocialwis e, Inc. 6/30/2009 S C LW OT C B B US D United S ta tes 0. 50 23. 4 0. 0 (5.6) NM - - NA
S ohu. com Inc. 9/30/2009 S O HU Na s daqG S US D C hina 52. 34 2,012. 8 501.0 218.4 43. 6% 2. 9x 6. 7x 3, 197
S park Networks , Inc. 9/30/2009 L OV AME X US D United S ta tes 2 48. 8 47. 5 10. 0 21. 0% 0. 9x 4. 5x 183
S pectrumDNA, Inc. 9/30/2009 S P XA OT C B B US D United S ta tes 0 6.8 0. 1 (2.5) NM 48.7x - 7
T encent Holdings Ltd. 9/30/2009 700 S E HK HK D C hina 147 34, 567.1 1, 588. 4 811.3 51. 1% 23.9x 46. 7x 6, 194
T he P arent C ompany 8/2/2008 K IDS . Q OT C P K US D United S ta tes 0. 01 0.2 112.0 (13. 5) -12. 0% 0. 2x - 347
T he9 Limited 12/31/2008 NC T Y Na s daqG S US D C hina 7. 48 187. 8 250.6 85. 5 34. 1% - - 1, 626
T heS treet. com, Inc. 3/31/2009 TS CM Na s daqG M US D United S ta tes 2. 28 69. 8 67. 0 1.9 2.9% 0. 1x 2. 7x 310
T ree.C om, Inc. 9/30/2009 TR E E Na s daqG M US D United S ta tes 7. 23 78. 8 217.1 9.7 4.5% 0. 2x 5. 5x 700
Unis erve C ommunica tions C orp. 8/31/2009 T S X V :US S T S XV C AD C anada 0. 04 0.9 16. 1 0.1 0.9% 0. 3x 37. 2x NA
United O nline Inc. 9/30/2009 UNT D Na s daqG S US D United S ta tes 7. 00 592. 1 996.8 212.9 21. 4% 0. 8x 4. 0x 1, 469
UOMO Media, Inc 7/31/2009 UO MO OT C B B US D C anada 0 5.2 0. 8 (0.4) -54. 2% 7. 1x - NA
V alueC lick Inc. 9/30/2009 V C LK Na s daqG S US D United S ta tes 10 859. 2 545.7 130.8 24. 0% 1. 3x 5. 4x 1, 189
V OIS , Inc. 6/30/2009 V O IS OT C B B US D United S ta tes 0 9.9 0. 0 (1.0) NM - - 4
W ebzen Inc. 9/30/2009 W ZE N Na s daqG M US D S outh K orea 3. 00 35. 6 23. 0 2.5 11. 0% - - 328
W izzard S oftwa re C orporation 9/30/2009 W ZE AME X US D United S ta tes 0. 38 20. 3 5. 2 (3.9) -76. 4% 4. 2x - 110
W orlds . com Inc. 9/30/2009 W DDD OT C B B US D United S ta tes 0. 10 5.4 0. 1 (0.6) NM - - 1
W ynds torm C orpora tion NA W Y ND OT C P K US D United S ta tes 0. 04 0.7 NA NM NM - - NA
XING AG 9/30/2009 O 1B C XT R A E UR G ermany 33. 40 257. 9 62. 5 16. 9 27. 0% 3. 2x 11. 9x 266
Y D O nline C orp. 12/31/2007 A052770 K OS E KR W S outh K orea 7000. 00 88. 0 57. 4 12. 4 21. 6% 1. 6x 7. 7x NA
Y nk K orea Inc. 12/31/2008 A023770 K OS E KR W S outh K orea 3695. 00 16. 5 11. 9 1.3 10. 5% - - NA
High 34, 567.1 2,002. 6 811. 3 68. 2% 48.7x 46. 7x 6, 194
Low 0.0 0. 0 -84.0 -98. 9% - - 1
Average 785.8 163.6 40.8 5.6% 5.3x 11.0x 906
Median 39. 5 51.9 1. 9 11. 1% 1. 6x 7. 8x 252
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 )
December starts at strong pace: Total transaction value in the W eb 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 $9.0 million (26 deals).
Financing Activity Last Twelve Months
400.0 16.0
14.6
350.0 14.0
300.0 11.3 12.0
9.8
250.0 10.0
9.0
(US$m)
(US$m)
200.0 7.6 8.0
7.1
6.7 6.6
6.5 6.3
6.2
150.0 5.6 6.0
4.9
100.0 4.0
50.0 2.0
0.0 0.0
Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09
*May-09 includes $200m FB investment Total Average
Figure 2. Financings, Last Twelve Months
Source. Company reports

4. Page 4
Deal round-up for December: The large deal highlights for the month include:
• Lala – streaming music site – was acquired by Apple for a rumoured $80 million.
• Zoosk – online social dating web site – raised $30 million in its fourth financing.
• gWallet – developer of virtual currency technology for monetizing brands, publishing, and social media platforms –
raised $12.5 million in a first round financing.
All other deals in the month were in the amount of $10 million or less. For additional details on financings, see Figures 23
and 24 (at end of note).
Financing & M/A Summary - Last Three Months
200.0
180.0
160.0
140.0
120.0
Dec-09
(US$m)
100.0 Nov-09
Oct-09
80.0
60.0
40.0
20.0
0.0
Phoenix New Media
DailyMotion
Millennial Media
Jive Software
Reality Mobile
Movik Networks
Yext
Box.net
Motley Fool
PlayFish
Zynga
Evernote
Ooyala
wooga
Bizo
Eventbrite
Overtone
Playfire
DailyBooth
SocialMedia
Aviary
Nival Network
AppNexus
Fizzback
Linkedex
Lala
RockYou
Ku6
Engine Yard
CubeTree
SeekingAlpha
Vdopia
JanRain
ViVu
Blekko
Godengo
Onehub
Hot Potato
IngBoo
Chango
Listia
Ecast Network
StockTwits
DataSync
PBworks
Playdom
Scoopler
VEVO
HubSpot
Spigit
ScanScout
Placecast
StatusNet
Aurora Feint
Joost
Sezmi
Technorati
Smaato
Credit Karma
SimpleGeo
Zoosk
PopCap Games
Altruik
Sometrics
Scout Labs
Adfonic
Qunar.com
FeedRoom
Alice.com
Prosper.com
Amie Street
Imeem
Watercooler
gWallet
Figure 3. Capital Market Activity, Last Three Months
Source. Company reports

5. Page 5
Broad-based sector financing: Video, Gaming, Advertising, Collaboration, and Analytics experienced the most financing
activity among our W eb 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 (Figure 4). The $400 million acquisition of Playfish skews the Virtual W orlds
segment to the highest total.
Capital Market Activity by Sector - Last Three Months
200.0
180.0
160.0
140.0
120.0
(US$m)
100.0
80.0
60.0
40.0
20.0
400.0 117.3 98.5 81.0 57.0 50.0 44.1 40.9 39.8 37.5 30.0 22.2 21.1 15.0 12.5 10.0 9.9 8.5 7.0 6.4 4.0 3.9 2.2 1.2 0.8 0.7
0.0
Social Commerce
Gaming
Documents
Travel
Wiki
Media
Collaboration
Mobile
Microblog
Publishing
Enterprise
Music
Financial Services
Widget
Infrastructure
Search
Mobile Ad
Classified
Social Networks
Virtual Goods
Virtual World
Video
Advertising
Crowdsourced
Aggregation
Analytics
Content
# companies
1 6 6 2 3 1 5 6 4 6 4 6 3 1 1 1 2 1 1 2 3 2 1 1 1 1
Figure 4. Capital Market Activity, by Sector, Last Three Months
Source. Company reports

6. Page 6
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 continues to outpace NASDAQ recovery: Our W eb 2.0 index (market-cap weighted) essentially mirrored
the performance of the NASDAQ composite index from mid-2008 until Q1/09. Since then, the index has diverged in a much
stronger recovery relative to the NASDAQ index (Figure 5).
Web 2.0 Index Price Performance
250
200
150
100
50
0
12/8/2008
12/22/2008
1/5/2009
1/19/2009
2/2/2009
2/16/2009
3/2/2009
3/16/2009
3/30/2009
4/13/2009
4/27/2009
5/11/2009
5/25/2009
6/8/2009
6/22/2009
7/6/2009
7/20/2009
8/3/2009
8/17/2009
8/31/2009
9/14/2009
9/28/2009
10/12/2009
10/26/2009
11/9/2009
11/23/2009
12/7/2009
Index: Web 2.0 (Market Cap) ^COMP - Share Pricing
Figure 5. Web 2.0 Price Performance
Source. Capital IQ

7. Page 7
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) (Figure 6), while 22
companies showed negative 1-week returns.
1 Week P rice P erformance
S K Communications Co., Ltd. 26.7%
Quepas a Corp. 22.3%
Y D Online Corp. 14.4%
Tree.Com, Inc. 12.1%
Mix i, Inc. 12.0%
Webz en Inc. 10.3%
S hutterfly , Inc. 9.9%
Ngi G roup Inc. 8.7%
V alueClick Inc. 6.4%
Modern Times G roup Mtg A B 6.3%
HanbitS of t, Inc. 6.3%
Frogs ter Interactive Pictures 5.6%
G ameOn Co Ltd. 5.0%
NEOWIZ Games Corporation 4.6%
PNI Digital Media Inc. 3.6%
S handa Interactive 3.6%
Open Tex t Corp. 3.0%
United Online Inc. 2.9%
LookS mart, Ltd. 2.9%
Tencent Holdings Ltd. 2.9%
Giant Interac tive G roup, Inc. 2.3%
CDC Corp. 2.1%
XING A G 1.5%
G amania Digita l Entertainment 1.4%
A Q Interactive, Inc. 0.2%
Y nk K orea Inc. 0.0%
DA DA S pA 0.0%
My riad Group A G -0.2%
A s knet A G -0.6%
S park Netw orks , Inc. -0.7%
The9 Limited -0.9%
Perfect World Co., Ltd. -1.8%
NetDragon WebS of t, Inc. -2.0%
TheS treet.com, Inc. -2.1%
IA C/InterA ctiveCorp. -2.3%
K ings of t Co. Ltd. -2.6%
Neteas e.com Inc. -2.6%
G ravity Co., Ltd -2.7%
Chines e Gamer International -3.3%
G ree, Inc. -3.5%
Eolith Co. Ltd. -3.6%
G igaMedia Ltd. -4.0%
Cy berplex Inc. -4.1%
Changy ou.com Limited -4.6%
A ctoz S of t Co., Ltd. -4.8%
Openw ave S y s tems Inc. -5.1%
Northgate Technologies Limited -5.3%
S ohu.com Inc. -6.1%
Fluid Mus ic Cana da, Inc. -10.0%
-0.15 -0.1 -0.05 0 0.05 0.1 0.15 0.2 0.25 0.3
Figure 6. 1-Week Price Performance
Source. Capital IQ

8. Page 8
P U B L I C C O M P A N Y I N D U S T R Y N E W S (P A R T N E R S H I P S , F I N A N C I A L R E S U L T S , N E W P R O D U C T S )
K ey Developments
C ompany Headline Notes
Offerpal Media, Inc .; S ocialwis e, Inc . S ocia lwis e, Inc. E nters into S trategic S ocialwis e, Inc. announced tha t it ha s entered into a s trategic partners hip with O fferpal Media , Inc. T he two companies will
(OTC B B : S C L W ) P artners hip with O fferpal Media work together to promote their exis ting pa yment s olutions , a s well as develop new pa yment progra ms s pecifically for the
teen a nd tween ma rket. Offerpa l will fea ture B illMyP a rents on its proprietary monetiza tion pla tform as a n a lterna te pa yment
s olution alongs ide V is a , Ma s terC a rd, P a yP al and others , providing teens a nd tweens with an eas y way to a cquire virtual
currency a cros s O fferpa l's network of 2, 000+ publis hers . T he virtual currency will be s pent on items s uch a s virtual gifts ,
s ubs criptions , game-play upgra des , and other virtua l goods . B illMyP arents and O fferpal will a ls o collabora te to launch
innovative programs tha t will expa nd their rea ch into the teen and tween online pa yment s olutions ma rket.
S ohu.c om Inc . (Nas daqG S : S OHU) S ohu. C om Announces Ma na gement S ohu. com Inc. announced the promotion of Ms . B elinda W a ng to C o-P res ident a nd C hief Opera ting O fficer, and Mr.
P romotions Xia ochua n W ang to C hief T echnology O fficer.
is eemedia Inc . (TS XV: IE E ) is eemedia Inc. , Annual G eneral Meeting, Nov is eemedia Inc. , Annual G eneral Meeting, Nov 30, 2009, a t 16: 00 US E a s tern T ime. Loca tion: Le Meridien K ing E dwa rd 37
30, 2009 K ing S treet E as t, T oronto, O ntario, C a nada. Agenda: T o receive and cons ider the a udited cons olida ted financia l s ta tements
of the corporation for the fis ca l yea r ended J une 30, 2009, together with the report of the auditors thereon; to elect directors ;
to a ppoint auditors a nd to a uthorize the directors to fix their remuneration; a nd to tra ns act s uch further or other bus ines s a s
may properly come before the Meeting or any adjournment or adjournments thereof.
B etawave C orporation (OTC B B : B WAV) B etawa ve C orporation Amends R es tated Loa n O n November 25, 2009, B eta wa ve C orporation a nd S ilicon V a lley B a nk entered into an Amended a nd R es ta ted Loan a nd
a nd S ecurity Agreement; Announces C hief S ecurity Agreement (the 'A& R Loan Agreement'') which a mends a nd res ta tes the Loan a nd S ecurity Agreement, dated as of
E xecutive C hanges Ma rch 27, 2009 between S ilicon V a lley B a nk a nd the company. T he A&R L oa n Agreement amended a nd res tated the
O rigina l Loa n Agreement to, among other things : (i) modify the interes t rate on the fina nced receiva ble to be ba s ed on the
gros s amount (rather tha n the fina nced a mount) of the fina nced receiva bles and other rela ted fees des cribed below, (ii)
delete the letter of credit, foreign exchange a nd cas h mana gement s ub facilities a nd s ub limits , (iii) a ccelera te the ma turity
date from Ma rch 27, 2011 to J a nuary 31, 2010 (the 'Ma turity Da te''), (iv) increas e the default rate from 4% to 5% a nd (v)
remove the fina ncia l covenants in the O rigina l L oa n Agreement. T he ava ila ble revolving credit line remains s et a t $1. 5
million. T he borrowings under the A&R L oan Agreement rema in s ecured and ba s ed upon a percentage of certa in eligible
billed accounts receiva bles of the company, and unbilled accounts
receiva bles a re no longer included in the borrowing ba s e. Under the A&R L oa n Agreement, the C ompa ny may borrow,
repay a nd reborrow under the line of credit fa cility at any time s ubject to certa in terms and conditions , but the adva nces
a re s ubject to a lockbox arra ngement and are pa id when pa yment is received on s uch fina nced receivable.
Adva nces under the line of credit facility s ha ll continue to a ccrue interes t at a per a nnum rate equa l to the grea ter of (i)
3. 0% a bove S ilicon V a lley B a nk's a nnounced prime ra te or (ii) 7. 0% which interes t s ha ll be charged to the coa ny bas ed
on the gros s amount of the fina nced receiva bles . T he A&R L oa n Agreement als o requires tha t the compa ny pay
certain a dditional monthly fees including a collatera l ha ndling fee equa l to 0. 50% of the gros s a mount of the financed
receiva bles . Under the A& R Loan Agreement, the minimum monthly finance cha rge (including interes t a nd fees ) to be
paid by the compa ny is $5, 500. T he obliga tions under the A&R L oan Agreement rema in colla tera lized by s ubs tantia lly
a ll of the compa ny's a s s ets . T he A& R L oa n Agreement retains the a ffirma tive and negative covenants principally
rela ting to liens , indebtednes s , a nd inves tments , dis tributions to s hareholders a nd the us e a nd dis pos ition of a s s ets .
C erta in covenants were a mended purs ua nt to the A& R Loan Agreement a nd the financia l covena nts s et forth in the
O rigina l Loa n Agreement were removed. In addition, the A&R L oa n Agreement contains cus toma ry events of default.
O n November 23, 2009, the company and Matt F reeman mutua lly agreed to termina te his employment a s C hief
E xecutive O fficer of the compa ny effective a s of November 30, 2009. Mr. F reema n will rema in on the company's
boa rd of directors . T he boa rd a ls o a ppointed T abreez V erjee, currently the P res ident of the compa ny, as interim C hief
E xecutive O fficer.
is eemedia Inc . (TS XV: IE E ) is eemedia Inc. R eports Una udited is eemedia Inc. reported unaudited cons olidated ea rnings res ults for the firs t quarter ended S eptember 30, 2009. T he
C ons olida ted E a rnings R es ults for the F irs t compa ny reported for the net los s and comprehens ive los s wa s C AD 1, 009, 339 or C AD 0. 02 los s per bas ic a nd diluted
Q uarter E nded S eptember 30, 2009 s ha re on revenue of C AD 484, 718 aga ins t net los s and comprehens ive los s of C AD 1, 518, 400 or C AD 0. 03 los s per ba s ic
a nd diluted s ha re on revenue of C AD 329, 640 for the s a me period las t yea r. Los s before inters t was C AD 1, 011, 656 a ga ins t
C AD 1, 535, 736 for the s ame period la s t yea r. C as h us ed in opera ting a ctivities wa s C AD 851, 683 aga ins t C AD 1, 256, 749
for the s a me period las t yea r. P urcha s e of property a nd equipment wa s C AD 1, 721 a gains t C AD 10, 927 for the s ame period
la s t year.
Figure 7a. Key Developments
Source. Capital IQ

9. Page 9
K ey Developments
C ompany Headline Notes
C L IC K E R Inc . (OTC B B : C L K Z) C L IC K E R Inc. a nnounced dela yed annua l 10-K O n 12/01/2009, C L IC K E R Inc. a nnounced that they will be una ble to file their next 10-K by the deadline required by the S E C .
filing
B etawave C orporation (OTC B B : B WAV) B etawa ve C orporation Appoints Ma tt F reema n B eta wa ve C orporation a nnounced tha t C E O Matt F reema n, who joined the compa ny in J uly 2008, will tra ns ition into the role
a s V ice C hairman of V ice C ha irma n.
S handa Interac tive E ntertainment L td. S ha nda Intera ctive E nterta inment Ltd. S ha nda Interactive E nterta inment Ltd. was es timated to reap a revenue of $197. 69 million for the three months ended
(Nas daqG S : S NDA) P rovides E a rnings G uidance for the T hird S eptember 30, 2009. T he number wa s $137. 3 million a yea r a go. T he company's ea rnings per s hare hit $0. 88, higher than
Q uarter E nded S eptember 30, 2009 $0. 68 a yea r a go.
Open Text C orp. (Nas daqG S : OTE X) O pen T ext C orp. R eleas es New V ers ion of O pen T ext C orporation a nnounced the relea s e of vers ion 14 of its C onnectivity S olutions cons is ting of O pen T ext E xceed,
C onnectivity S olutions C ompatible with the lea ding P C X s erver s olution for W indows , O pen T ext Hos tE xplorer, its terminal emulation s uite, a nd its s ecure s hell
W indows 7 clients and network file s ys tem s oftwa re. L evera ging the new productivity a nd s ecurity features of W indows 7, this relea s e
offers orga niza tions a s mooth tra ns ition to the new Micros oft pla tform. W orking clos ely with Micros oft, O pen T ext des igned
its la tes t C onnectivity S olutions to ta ke a dva nta ge of W indows 7 technologies . S pecifica lly, us ers of the new s oftware s uite
will be a ble to take a dva ntage of the following enha ncements : S upport for W indows 7 T ouch technology a llows us ers to
intera ct with UNIX and Mainframe applica tions through an intuitive and ea s y to us e touch interface; J ump Lis ts in the T as k
B ar and S tart Menu provide fa s ter a cces s to frequently a cces s ed items a nd frequently performed ta s ks ; Multiple Documents
preview reduces the time s pent s witching between applica tions a nd open s es s ions ; New F IP S 140-2 va lidated cryptographic
module provides s tronger s ecurity to connections .
VOIS , Inc. (OTC B B : VOIS ) V O IS , Inc. to L aunch C loud Applica tion V OIS , Inc. a nnounced tha t the compa ny is launching a new porta l within its exis ting s ite fra mework to provide tes ting a nd
Development P orta l development, code and da ta repos itories for both contract a nd freela nce s oftwa re developers working to build next
genera tion cloud applica tion s oftwa re. Ava ila ble J a nuary 2010, the V OIS C loud Application F os tering E nvironment (C AF E ) is
to provide cloud-ba s ed s tora ge for the development of code, s haring of code and AP I development proces s es . Additiona lly,
the da ta s tora ge ma y be us ed for the tes ting of new a nd innova tive a pplica tions being developed by freela nce s oftwa re
des igners , open s ource community members , a nd others in order to s peed adoption of the ra pidly ma turing technology a rea
now commonly referred to by both pres s a nd indus try as 'C loud C omputing'.
S handa Interac tive E ntertainment L td. S ha nda Intera ctive E nterta inment Ltd. S ha nda Interactive E nterta inment Ltd. a nnounced una udited cons olida ted fina ncia l res ults for the third qua rter and nine
(Nas daqG S : S NDA) Announces Unaudited C ons olida ted F ina ncial months ended S eptember 30, 2009. In the third quarter of 2009, the compa ny reported net revenues of R MB 1, 382. 9 million
R es ults for the T hird Q uarter a nd Nine Months ($202. 5 million), repres enting a n increas e of 48% from R MB 936. 5 million year-over-yea r. Opera ting income for the third
E nded S eptember 30, 2009 qua rter of 2009 wa s R MB 510. 7 million ($74. 8 million), a n increas e of 34% from R MB 381. 5 million in the third qua rter of
2008. Non-G AAP opera ting income for the third qua rter of 2009 wa s R MB 595. 0 million ($87. 1 million), an increa s e of 51%
from R MB 392. 8 million in the third qua rter of 2008. Net income a ttributa ble to ordinary s ha reholders for the third qua rter of
2009 was R MB 435. 3 million ($63. 7 million), an increa s e of 29% from R MB 337. 1million in the third quarter of 2008.
E arnings per diluted ADS in the third qua rter of 2009 were R MB 6. 18($0. 90), compared with R MB 4. 62 in the third qua rter of
2008. Non-G AAP net income attributable to ordina ry s ha reholders for the third quarter of 2009 was R MB 519. 6 million ($76. 0
million), a n increa s e of 49% from R MB 348. 4
million in the third quarter of 2008. Non-G AAP earnings per diluted ADS in the third qua rter of 2009 were R MB
7. 40($1. 08), compa red with R MB 4. 78 in the third qua rter of 2008. T he company reported income before income ta x
expens es , equity in los s of affilia tes of R MB 582. 4 million a nd diluted ea rnings per s ha re of R B M 3. 09 compa red to
income before income tax expens es , equity in los s of a ffiliates of R MB 434. 4 million and diluted ea rnings per s hare of
R B M 2. 31 for the s a me period of la s t yea r.
Figure 7b. Key Developments – continued
Source. Capital IQ

10. Page 10
K ey Developments
C ompany Headline Notes
S handa Interac tive E ntertainment L td. S ha nda Intera ctive S ecures $1. 6 B illion F or S ha nda Interactive E nterta inment Ltd. pla ns to a cquire more digital enterta inment platforms and ga me content developers to
(Nas daqG S : S NDA) Acquis itions divers ify its revenue s tream. S ha nda s pun off S handa G a mes in S eptember. G race W u, S ha nda's chief financial officer told
inves tors in a conference call tha t S handa is keen to us e its $1. 6 billion ca s h pile on more acquis itions . He a dded, “W e will
cons ider a cquiring more ga me content developers a nd other digita l enterta inment content players . ”
IAC /InterAc tiveC orp. (Nas daqG S : IAC I) IAC /InterActiveC orp Appoints Nick S toumpa s IAC /InterActiveC orp. a nnounced tha t Nick S toumpa s , currently IAC V ice P res ident a nd T reas urer, has been named V ice
a s V ice P res ident, Inves tor R ela tions a nd P res ident, Inves tor R ela tions and T rea s urer. Mr. S toumpas s ucceeds E oin R ya n, the previous V ice P res ident of Inves tor
T rea s urer to R epla ce E oin R yan R elations who left IAC in November. As V ice P res ident of Inves tor R elations and T rea s urer, Mr. S toumpas will ma intain his
exis ting res pons ibilities a s T rea s urer of IAC a nd will have prima ry res pons ibility for the s tra tegic and tactical elements of
IAC 's Inves tor R ela tions program, the goa l of which is to ens ure the ma rketpla ce unders ta nds and fairly values the
compa ny. Mr. S toumpa s will continue to report to T om McInerney, C F O of IAC . Lis a J a ffa , Ma na ger of IAC Inves tor
R elations , will report to Mr. S toumpa s .
F acebook, Inc .; Friends ter, Inc.; F riends ter Ma y R eportedly B e S old T o As ia n F riends ter Inc is likely to be acquired an As ia n buyer by the end of December for at leas t $100 million, a s ource clos e to the
Tencent Holdings L td. (S E HK : 700) B uyer B y December E nd s itua tion s ta ted. T he company ha d rejected a $30 million buyout offer from G oogle Inc s ix yea rs a go, media reports s tated.
A s ource s tated that F riends ter will be s old to a n As ia n lis ted company for more tha n $100 million. T he s ource a dded tha t
the deal will be a nnounced by the end of December. R euters reported tha t s ource denied to be identified a s the informa tion
wa s not yet public. In J uly, T echC runch ha d va lued F riends ter a t $210 million. C hief executive of the compa ny, R icha rd
K imber s tated that mos t of the s uitors for F riends ter were As ia n buyers . He s a id: "W e ha ve a s hortlis t a t this point tha t we
a re negotiating with. " He a dded tha t Morgan S tanley ha s been engaged to ha ndle the deal. T encent Holdings Ltd is known
to be a mong the s hort-lis ted bidders . T he s ources s ta ted that F a cebook Inc ha d als o expres s ed interes t but was turned
down due to competition a nd intellectual property is s ues .
Openwave S ys tems Inc. O penwa ve S ys tems Inc. has filed a S helf O penwave S ys tems Inc. ha s filed a S helf R egis tration in the amount of $2. 95 million.
(Nas daqG S : OP WV) R egis tra tion in the a mount of $2. 95 million.
Open Text C orp. (Nas daqG S : OTE X) O pen T ext C orp. , Annua l G enera l Meeting, O pen T ext C orp. , Annual G eneral Meeting, Dec 03, 2009, a t 10: 00 US E a s tern T ime. L oca tion: 275 F ra nk T ompa Drive,
Dec 03, 2009 W a terloo, N2L 0A1, O ntario, C anada . Agenda : T o receive the financia l s tatements of the C ompany for the yea r ended J une
30, 2009, together with the report of the auditors thereon; to elect directors ; to re-a ppoint auditors a nd a uthorize the directors
to fix their remunera tion; a nd to trans a ct s uch other bus ines s a s may properly come before the meeting or a ny a djournment
thereof.
OAO R B C Information S ys tems O AO R B C Information S ys tems to R es tructure O AO R B C Informa tion S ys tems a nnounced to res tructure its debts . According to the compa ny, a s a res ult two tied dea ls
(R TS : R B C I) its Debts worth R UB 4. 87 billion, debts of s ubs idia ries of the holding to R B C Informa tion S ys tems will be owed to R B C -T V Mos cow
J S C (R UB 0. 7 billion) and P intoleza Holdings L td. (R UB 4. 17 billion). R B C Informa tion S ys tems will get bonds of R B C -T V
Mos cow worth R UB 0. 7 billion a nd E urobonds of E . M. I. S . F ina nce B . V . worth R UB 4. 17 billion. After an a greement with
creditors is s igned, thes e bonds and E urobonds will go to creditors , while R B C -T V Mos cow will become a new corporative
center of R B C . R B C owes R UB 4. 87 billion to banks ; $60 million is the debt of the holding's s ubs idia ries .
Openwave S ys tems Inc. O penwa ve S ys tems Inc. , Annual G eneral O penwave S ys tems Inc. , Annua l G enera l Meeting, Dec 03, 2009, at 11: 00 US P acific T ime. L ocation: 2100 S ea port
(Nas daqG S : OP WV) Meeting, Dec 03, 2009 B ouleva rd, R edwood C ity, C A 94063, United S ta tes . Agenda: T o elect G erald D. Held a nd David C . Na gel a s directors ; to
cons ider the amendment to the a mended and res ta ted 1999 Directors E quity C ompens a tion P la n; to ra tify the s election of
K P MG L LP a s independent a uditors for the fis ca l yea r ending J une 30, 2010; and to tra ns a ct s uch other bus ines s as may
properly come before the meeting or a ny a djournment thereof.
TheS treet.com, Inc. (Nas daqG M: TS C M) T hes treet. com, Inc. Decla res Q uarterly C as h T heS treet. com, Inc. a nnounced tha t its boa rd of directors has declared the C ompa ny's qua rterly ca s h dividend on its
Dividend, P a yable on December 31, 2009 common s tock. T he ca s h dividend of $0. 025 per s ha re of common s tock will be pa yable December 31, 2009, to all
s ha reholders of record a t the clos e of bus ines s on December 15, 2009.
Figure 7c. Key Developments – continued
Source. Capital IQ

11. Page 11
VALUATION
Online Gaming companies lead market-cap charts: Twelve companies in our W eb 2.0 universe top US$1 billion in
market capitalization (Figure 8). Fifty-eight of the 89 companies have market caps under US$100 million, with 38 under
US$25 million. Online gaming companies dominate the top of the list, led by Tencent Holdings (SEHK:700) with a market
cap of approximately US$34.6 billion.
Market C ap (US D m)
Tencent Holdings Ltd. 34567.1
Neteas e.com Inc. 4818.6
S handa Interactive Entertainment 3473.1
Modern Times G roup Mtg A B 3119.2
IA C/InterA ctiveCorp. 2507.4
G ree, Inc. 2222.9
Open Tex t Corp. 2211.3
Perfect W orld Co., Ltd. 2157.0
S ohu.com Inc. 2012.8
Changy ou.com Limited 1704.5
Giant Interactive G roup, Inc. 1628.3
Mix i, Inc. 1351.0
Chines e G amer International 1103.5
V alueClick Inc. 859.2
K ings of t Co. Ltd. 796.9
NEOWIZ G ames Corporation 780.8
United Online Inc. 592.1
S hutterf ly , Inc. 404.6
S K Communications Co., Ltd. 335.1
NetDragon W ebS oft, Inc. 295.3
XING A G 257.9
CDC Corp. 257.5
G amania Digital Entertainment Co., 222.9
OA O R B C Information S y s tems 222.0
G igaMedia Ltd. 210.4
My riad Group A G 207.5
G ungHo Online Entertainment, Inc. 197.3
The9 Limited 187.8
Openw ave S y s tems Inc. 187.1
A ctoz S of t Co., Ltd. 151.1
DA DA S pA 149.0
Fluid Mus ic Canada, Inc. 104.4
Y D Online Corp. 88.0
Tree.Com, Inc. 78.8
NeuLion Incorporated 74.9
Cy berplex Inc. 74.1
HanbitS oft, Inc. 71.6
GameOn Co Ltd. 70.8
Frogs ter Interactive Pictures A G 70.4
TheS treet.com, Inc. 69.8
Eolith Co. Ltd. 66.8
GeoS entric Oy j 65.8
PNI Digital Media Inc. 53.8
S park Netw orks , Inc. 48.8
G ravity Co., Ltd 40.6
DigitalTow n, Inc. 38.3
NeXplore Corporation 37.9
DX N Holdings B hd 36.9
Webz en Inc. 35.6
Ngi G roup Inc. 33.4
A s s ociated Media Holdings Inc. 32.9
A s knet A G 26.5
A Q Interactive, Inc. 24.7
S ocialw is e, Inc. 23.4
Northgate Technologies Limited 22.2
Quepas a Corp. 21.6
Wiz z ard S of tw are Corporation 20.3
LookS mart, Ltd. 18.3
Y nk K orea Inc. 16.5
A cceleriz e New Media, Inc. 15.8
Dolphin Digital Media, Inc. 15.4
Jumbuck Entertainment Limited 13.6
Ex tens ions , Inc. 13.3
MOK O.mobi Limited 12.5
Lingo Media Corporation 11.0
Magnitude Inf ormation S y s tems Inc. 10.2
V OIS , Inc. 9.9
is eemedia Inc. 9.2
IA S Energy , Inc. 7.8
S pectrumDNA , Inc. 6.8
W orlds .com Inc. 5.4
B right Things plc 5.3
UOMO Media, Inc 5.2
DigitalPos t Interactive, Inc. 4.6
B roadWebA s ia Inc. 4.2
S NA P Interactive, Inc. 3.3
CornerWorld Corporation 2.9
B ey ond Commerce, Inc. 2.7
B etaw ave Corporation 2.5
B igs tring Corp. 1.8
LiveWorld Inc. 1.0
Unis erve Communications Corp. 0.9
Wy nds torm Corporation 0.7
K A B Dis tribution Inc. 0.6
CLICK ER Inc. 0.5
The Parent Company 0.2
China G atew ay Corporation 0.2
Dibz International, Inc. 0.0
S NM G lobal Holdings 0.0
S ocial Media V entures Inc. 0.0
0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000
Figure 8. Market Cap Rankin
Source. Capital IQ