Twitter Pre-IPO & Pure Storage Stock Price Analysis: A closer look at the shares authorized with Common and Preferred pricing details, Valuations, Deal Terms, Investors, and more...

1. Editors: Anna Hockaday & Amanda Akin
Copyright © 2013 VC Experts.com, Inc.
Pre-IPO Company Twitter provides blog services which are
available via IM, mobile text messaging, or the Web. Twitter is a
service for friends, family, and co-workers to communicate and
stay connected through the exchange of quick, frequent
answers. View Pre-IPO Stock Price Analysis graph for Twitter on
page 2.
NEW! Twitter Pre-IPO Stock Price Analysis
NEW BOOK! Delaware Cases Relevant to the
Venture Capital and Private Equity Community
By Potter Anderson Corroon LLP
VC Experts Encyclopedia added a new book! Potter Anderson &
Corroon LLP attorneys will provide updates on decisions of the
Delaware Court of Chancery and the Supreme Court of Delaware
that are particularly relevant to the venture capitalist
community. These courts are among the most influential
tribunal in the world regarding corporate matters and
alternative entities and therefore contribute significantly to
shaping the law that affects sophisticated venture capitalist
transactions. View table of contents on page 4.
Inside This Issue
2 Investment Profile: Twitter
2 Pre-IPO Stock Price Analysis: Twitter
3 Investment Profile: Pure Storage
3 Valuation Trend Chart: Pure Storage
4 Delaware Cases Relevant to the
Venture Capitalist Community
4 VC Experts Calendar of Events
VC Experts Buzz VC Experts’ Intelligence Team
PRESS@VCEXPERTS.COM 646.290.9254
September 26, 2013
NEW! Pure Storage Hoards $150MM
Pure Storage, Inc. provides enterprise storage solutions. The
Company's products enhance random I/O-intensive
applications, such as server virtualization, desktop
virtualization (VDI), database (OLTP, rich analytics/OLAP, SQL,
NoSQL), and cloud computing. View valuations, estimated fully
diluted shares and preferred price per share on page 3.
For Event Listings on Private
Equity and Venture Capital
Check Out VC Experts'
Calendar of Events-2013

2. Editors: Anna Hockaday & Amanda Akin
Copyright © 2013 VC Experts.com, Inc.
PAGE 2 VC EXPERTS NEWSLETTER
Series of
Preferred
Authorized
Shares
Preferred Price
Per Share
Investment
Amount
Total Preferred
Investment*
Series A 79,968,562 $0.0011115 $88,885
$766,181,496
Series B 49,324,068 $0.1111115 $5,480,471
Series C 62,933,628 $0.34331 $21,605,743
Series D 50,981,652 $.7185945 $36,635,134
Series E 38,431,500 $2.6637335 $102,371,274 Incentive Pool**
Series F 26,197,900 $7.6342 $200,000,008
159,398,554
Shares
Series G-1 10,097,159 $16.0936346 $162,499,987
Series G-2 14,757,387 $16.0936346 $237,499,994
Pre-IPO Stock Price Analysis: Twitter
Address: 1355 Market St, Suite 900, San Francisco CA 94103
Region: Silicon Valley
Industry: Media and Entertainment
Legal Counsel: Fenwick & West LLP
Website: www.twitter.com
Twitter: @twitter
As of the latest filing,
the Series G & F are
pari-passu with each
other in the liquidation
stack. None of the
preferred is
participating. These
preferences only come
into play if the
valuation is not at a
point that upon an
“exit” all of the
preferred holders
convert to common.
As of 11/18/2011, there
was a recent addition
of the Class A Junior
Preferred, that could
account for some of the
secondary shares. These
shares are at the
bottom of the
liquidation stack, right
above the common
shares.
As of 07/26/2011 (and
prior to the Class A
Junior Preferred) the
EFDS count was just shy
of 500 MM shares.
Investment Profile: Twitter as of 08/09/2013
View Deal Terms
*Total Series Preferred Investment is based on authorized share count and if all authorized is issued, and
does not include any secondary transactions.
** Incentive Pool shares are based on available regulatory filings.

3. Editors: Anna Hockaday & Amanda Akin
Copyright © 2013 VC Experts.com, Inc.
PAGE 3VC EXPERTS NEWSLETTER
Investment
Date
Investment
Amount
Post-Money
Valuation
Est. Fully
Diluted Shares
Preferred Price
Per Share
08/29/2013 $150MM $1,206,883,376 87,057,879 $13.86
08/08/2012 $40MM $499,316,532 Click to View Click to View
07/27/2011 $1.99MM $232,514,746 Click to View Click to View
07/08/2011 $15MM $230,524,743 Click to View Click to View
06/09/2011 $27.22 $229,304,742 Click to View Click to View
Investment Profile: Pure Storage, Inc.
Valuation Trend Chart: Pure Storage, Inc.
Address: 650 Castro Street, Suite 400, Mountain View CA 94041
Region: Silicon Valley
Industry: IT Services
Legal Counsel: Cooley Godward & Kronish LLP
Website: www.purestorage.com
Twitter: @PureStorage
View Deal Terms
The $150MM Series E
round was led by T.
Rowe Price, Tiger
Global Management
and other public
market investors.
Previous investors
including Greylock
Partners, Index
Ventures, Redpoint
Ventures, Samsung
Ventures and Sutter Hill
Ventures also
participated in the
round.

4. Editors: Anna Hockaday & Amanda Akin
Copyright © 2013 VC Experts.com, Inc.
PAGE 4 VC EXPERTS NEWSLETTER
Event Date Location
VC Taskforce: Elevator Pitch
Roundtable Plus One Hour
with an Attorney
Oct. 2 Palo Alto, CA
Best Practices for
Overseeing Private Equity
Portfolio Companies
Oct. 3 New York, NY
Endowment & Foundation
Forum
Oct. 7-9 Boston, MA
High Frequency Trading
Leaders Forum
Oct. 8 Chicago, IL
Hedge Funds Leaders Forum Oct. 8 Chicago, IL
Derivatives Trading Forum Oct. 8 Chicago, IL
Raising Private Equity Funds
from Family Offices &
Wealthy Individuals
Oct. 10 New York, NY
VC EXPERTS Calendar of Events
View More Event Listings
NEW BOOK!
Delaware Cases Relevant to the Venture Capital and Private Equity Community
By Potter Anderson Corroon LLP
Table of Contents:
 Introduction
 Potter Anderson Corroon Indices to Delaware Cases
 Chronological Index to the year in Review - Key Delaware Cases of 2011
 Chronological Index to the year in Review - Key Delaware Cases of 2012
 Chronological Index to the year in Review - Key Delaware Cases of 2013
 The Year In Review – Key Delaware Cases of 2011
 The Year In Review – Key Delaware Cases of 2012
 The Year In Review – Key Delaware Cases of 2013