2. Overview of WRI
Global expansion of WRI’s Property Base
1999 2002 2003 - 2005 2006 - 2009 2010 - 2012
Start-up Profit • Strong organic growth • Backpack Online • Building management
• Hostels.com acquisition • Asia expansion • iPhone & Android
• Summit Partners • Bedandbreakfastworld.com • South America
• Hellman & Friedman • Local focus
Headquartered in Dublin with ~130 employees (inc. Shanghai, Sydney, Sao Paulo)
30,000 independently owned and operated properties in ~200 countries; ~3,000 affiliate sites
High EBITDA margin operation
2
3. Market Opportunity – two sets of customers
Leading online distribution
Leading global accommodation site for
channel for providers of
travellers seeking value and a rich social
value accommodation
experience as they “see more world”
around the world
41+ yrs
• Hostels 7%
31-40 yrs
• Guesthouses 13%
Groups & 18-24 yrs
• B&Bs 43% Youth
Couples
• Pousadas
25-30 yrs
• Independent budget hotels 37%
Clear market leader at Independent
>4x nearest direct
competitor
$30 billion global
market opportunity*
*WRI estimate based on Euromonitor data 3
4. Product overview and business
Property Management Software Consumer websites with global reach
• Hostelworld.com: Great Hostels,
Great Places, Great People
• Hostels.com: Make your
trip go further
•Bedandbreakfastworld.com :
Friendly stays in a homely
setting
• Mobile, iPhone,
Android : Book your bed
on the move
Efficient Business Model Bookings by Nationality Bookings by Destination
90%
Spain
USA
Italy
Others
Australia Others England
HW Hostel
England USA
10%
Germany Germany
Italy Spain NL
France China France
Sth Korea Canada IRL Aus
Brazil
4
4
5. KPIs
> 120m site visits
> 5 million reservations
> 25 million bednights
~ $600m TTV accommodation booked
Strong double digit revenue growth
50% EBITDA margins
5
6. Partnership / M&A as Vehicle to Build our Business in North America
M&A Targeting Criteria
1. Add Product Supply in Good Demand Locations
Sites with directly contracted B&B, independent hotel, motel, and camping inventory.
2. EBITDA Positive and growing;
EBITDA breakeven to €5M, ideally with double digit growth
3. Strong Local Site Traffic
New travel markets (e.g. domestic trips) and/or access new customer segments (e.g.
older independent travellers etc.)
4. Ease of business model
Similar business model to WRI. Will consider listing model businesses.
Technology providers with critical mass of independent accommodation clients.
5. Management Team strength
6
6
8. NOAH Advisors - Europe’s Leading Internet Corporate Finance Boutique Selected Completed NOAH Transactions
May 2012 April 2012
Unique Industry Know-How Core Investment Banking Competence
Sale of a 100%-stake in
100% focused on Internet companies, covering The NOAH team has 25+ years of media
150 million growth equity investment from
over 25 sub-verticals in this highly complex investment banking experience
industry - Routine execution of M&A and financing for a 50% stake alongside Fotolia’s Founders and
to
- 15+ years active coverage of leading European transactions with sizes of several billion euros
Internet companies and investors The team has been working together closely for 7 Additional $150 million senior debt financing
Total $300 million investment
Deep understanding of industry dynamics and years (including 6 years at Lehman Brothers) Financial Advisor to Fotolia and its Shareholders Financial Advisor to Toprural and its Shareholders
thinking of industry leaders 8 successfully completed NOAH Advisors
Ability to add value beyond banking advice transactions underline successful transfer of
- Facilitates overall process and minimizes competencies to the Internet sector November 2011 July 2011
management distraction Sale of a majority stake in Sale of a majority stake in
Unmatched Network and Relationships Full Commitment - We Are Entrepreneurs!
NOAH Advisors is globally very well connected The NOAH team are entrepreneurs and focused to
to
and has direct access to virtually all key players in on growing the business and establishing a Quants Financial Services AG
the industry reputation for excellence Exclusive Financial Advisor to
- Knowledge of and strong relationships with Full commitment to deliver top quality results in grupfoni and its Shareholders Advisor to EnGrande
potential buyers’ key decision makers short time frames
- Coverage of over 500 companies and 4,000 Highly success-based compensation structures
individuals align interests of clients and NOAH Advisors, and April 2011 April 2011
- Proactively finds and unlocks attractive demonstrate conviction to deliver top results Sale of a majority stake in
investment opportunities for leading have acquired a majority stake in
investors (e.g. Bigpoint)
Annual NOAH Conference to
for $350m from
The NOAH Advisors Core Team
Exclusive Advisor to Advisor to Yatego
Summit Partners and TA Associates
Marco Yoram Jan
Rodzynek Wijngaarde Brandes
December 2009 April 2009
Managing Director Director Director
Partial sale of $80m partial sale of
and Founder
to
to
Contact Details Contact Details Contact Details Valuing Softonic at €175m
marco.rodzynek@noah-advisors.com yoram.wijngaarde@noah-advisors.com jan.brandes@noah-advisors.com
Advisor to Softonic Advisor to Fotolia
UK Mobile: +44 77 85 330 330 UK Mobile: +44 79 17 084 784 German Mobile: +49 174 2010 984
Swiss Mobile: + 41 79958 1512
9. Introduction to the NOAH Conference Overview of the NOAH Conference 2011
The NOAH Conference is an annual Internet event taking place once a
Summary Overview Conference Program
year in London, focused on top management from Internet start-ups to
global media companies as well as senior investment professionals NOAH ‘11 took place on 9-10 November 2011 at Old
NOAH’s goal is to create a marketplace for the European Internet eco- Billingsgate in London
system to discuss key trends, generate business and facilitate Fantastic line-up of 90 speakers from 20 countries in keynotes,
investment transactions presentations and panels over 2 full days
Over the past 3 years numerous high-profile speakers presented at 1,150 attendees from 35 countries – 57% from Internet
NOAH, including over 100 CEOs companies, 26% from investors, 15% from corporates (media
The NOAH Conference was founded in 2009 by Marco Rodzynek and is companies, advisors, PR and recruiting) and 2% press
organised by the NOAH Advisors team with sponsorship from some of representatives from leading on- and offline publications
the world’s leading financial investors NOAH party with additional guests from London and a great
live band on the evening of the first day
NOAH ‘12 on 6-7 November – Save the Date Extremely positive feedback from numerous attendees, on
twitter and in the press
The conference will again take place at Old Billingsgate in London
Registration will open in early 2012 Selected Conference Impressions
For updates, please check: www.noah-conference.com
Event Sponsors Strategic Sponsors