Annual Review

2014

CEO Remarks2014 was a transformative year for our young company. It was the year

we moved from Early Stage Startup to Fast Growth Company. The

transition, was challenging for our team both professionally and

personally, but incredibly rewarding.

As you will see in the following pages we have an engineered a strong

product, on top of a powerful strategy that will provide long term

competitive differentiation in a very crowded but extremely lucrative

market.

We are taking on, and winning business over iconic technology

companies like Google and Facebook. We have quickly established

ourselves as the leader of a new and skyrocketing market for

comprehensive mobile marketing software.

As I reflect on the past year, I think about the culture and values we

have built in our company. I think about the meaning and purpose that

our people get by coming in every day and tackling truly difficult

problems. The investments that we have made in selecting only the very

best people, and maintaining the highest expectations of ourselves,

have become the vaccine that shields us from the inevitably stressful

and difficult path we have chosen.

As we continue our fast growth, I have encouraged all of our people to

reflect daily on the Stockdale Paradox:

‘We must retain faith that we will prevail in the end, regardless of the

difficulties.

AND at the same time…

We must confront the most brutal facts of our current reality, whatever

they might be.’

If we keep this maxim as our north star, we can continue to expect

amazing things we never thought possible in 2015. Onward!

2

Rob Emrich

Founder & CEO

Table of Contents

Overview

Technology

Revenue

Operations

Creative + Case Studies

Company growth

Market growth

Financials

Strategy

The Mobile MajorityAnnual Review 2014

3

Recognized in 2014

4

Financial Milestones

5

$360K

$131M

Annualized Run Rate

$4M

$48M

Biggest Single Day Revenue Biggest 30 Day Period Revenue

Annualized Run Rate

100 Concurrent Campaigns

Industry Leading Selection StandardsRigorous Selection Process

Applications Hires

3,244 32Hiring Rate

1%

Rigorous 4-5

session, multi test,

in person white-

boarding sessions

similar to Google

100% meritocracy

6

Harvard Goldman Sacks Y-Combinator Secret Service The Mobile Majority Google

5.8%4.4% 4%

1% 0.4%1%

LESS SELECTIVE MORE SELECTIVE

I joined The Mobile Majority over well known tech

companies because I believed they had a massive

opportunity to provide the market with solutions and with a

pace and attitude that every Product person dreams of

– Marcos Escalante / Head of Product

Technology

7

Technology Leadership

Background in astro-physics and

CEO of high frequency software

development firm “Elastic” in

Brazil

Chief Technology Officer

Ad Tech veteran with Mobile

focus known for leading Product

and Technology teams to deliver

massive value to customers

Marcos EscalanteHead of Product

Industry veteran responsible for

building and architecting big data

solutions for CBS, FullScreen,

MySpace, and Raytheon.

Cheolho MinaleVP of Technology

Data scientist and engineer who helps

to solve problems from

conceptualization to software

realization, with considerable

experience in online display

advertising, machine learning, big

data technologies

Yongjia Wang Head of Data Science

8

Marcelo Wiermann

Technology

In more than one way 2014 was a critical year for us. It was the

year we pivoted into the programmatic buying arena and

almost instantly increased n-fold our ability to scale. It was the year we got into rich, terabyte-scale Big Data. It was the year

we grew our engineering team from a scrappy single cell squad

to a world class Agile team with skill sets and experience levels spread across the board. It was the year we committed to

delivering a bold and industry-changing vision.

In more than one way 2014 was the year we became a true

contender in a market that has at its core the antithesis between large scale spend and a feeling of ‘business as usual’ towards levels of fraud and sub-optimal performance that would probably make more mature industries flinch. This was the year we set off in a course to revolutionize how business is done in our industry and we proved we can do it.

And we are just getting started.

Reflections on 2014 Thoughts on 2015

If there is one thing I could say for 2015, it would is that I am

very excited about 2015. We have the team, the technological

basis, the know-how and the guts to deliver on our bold vision of reaching the top tier of our industry. The fact is that we have

a lot of room to grow and a lot of ground to cover. We have got

the basics of our strategy and products right. We have a good team of engaged people that we can use to further grow and

expand while maintaining the awesome culture that defines us.

2015 will be all about expanding on the foundation that we laid

in the previous year. It will be about delivering more polished and performant versions of our current products, increasing our base of customer / advocates and using more and more the humongous amount of rich, contextual data we have access to.

This will be an year where we will give a lot of people a run for their money and show that we can do better, faster and with more reliability than most of our competitors.

9

Marcelo Wiermann

Review of the Past + Predictions for the Future

CTO

Huge Growth

2 ENGINEERS

19 ENGINEERS

January 2014 January 2015

10

January 2013January 2012

2 ENGINEERS

1 ENGINEER

As a technology company engineers give us our competitive advantage. The are also extremely difficult to recruit because there is a massive shortage of computer science talent. We have shown we can successfully recruit engineering talent. Bringing talent from top tier companies like Quantcast, Atlas, and Datalogix.

Technology: Hiring

Rapid Technology Development

AdCast 3,944

Bidder 1,158

AdTags 711

Bider Core 664

Demeter 264

AdKit 50

New Tags Storage 45

Sensor 25

11

6,861

Total Git Commits

2014

• Rewards

Dashboard

• PaeDae In App

• Rewards iOS SDK

• AdSynergy Fully Integrated

Mobile Ad Platform

• AdCast Mobile DSP

• AdKit Universal Ad Delivery

• AdScore Pre-Bid Fraud

Detection

• AudienceArchitect Custom

Targeting / Audience Builder

• Working with 6 Exchanges

& 31 Ad Networks

• Proprietary CRM Product

January 2014 January 2015

High quality code, rapid product development

Offline-to-Online CRM Targeting

" Build mobile audiences using customer data

from any customer relationship management

system."

Build on the Relationships You Already Have.

Effective marketing isn’t (just) about exposing

your brand to new, untapped audiences. It’s

about turning strangers into friends, and

friends into customers. Rather than starting

from scratch, use what you know about

prospects and customers to maintain exposure

in an ongoing and relevant way.

• Real-Time, Real User Matching

• Build an Audience with Confidence

• Different Relationships, Different Uses

RealMatch™Connecting the power of mobile advertising with offline CRM data

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AudienceArchitect™

13

Pinpointing target audiences with advanced data management

AudienceArchitect™ bolsters external data

sources with a proprietary database full of

billions of customer interaction records.

We leverage a combination of 1st-party (SDK-

level), 2nd-party (RTB-level), and 3rd-party (data

provider-level) sources, in addition to our own, to

optimize a campaign’s target audience in real

time.

Through an ongoing process of data verification,

prediction, and machine learning, our platform is

able to achieve significantly higher match rates

and accuracy rates than other providers.

Break free from the constraints of legacy platforms

and restrictive SDK environments. AdKit™ speeds

up the development process plus delivers and

tracks your rich-media ad flawlessly across any

environment or mobile device type.

Using AdKit™, developers can quickly build

mobile web ads with rich media content without

the need of forced UI components. Save time with

reusable templates, automated device

determination/orientation changes, and pre-built

content such as landing or error pages.

Construct and deliver the most engaging rich-media mobile ads anywhere

AdKit™

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Choose from the Best

Cherry pick the best apps and sites so your ads are

only shown on safe and effective sources.

Premium Inventory

Select from a variety of premium sources to enable up

to full-page display of your rich media and video ads.

Buy Ads in Real-Time

Our technology makes it easier than ever to buy real-

time mobile phone and tablet ad impressions.

Integrate with Ease

With full use of all The Mobile Majority’s products,

AdCast™ helps target, optimize, track data, protect

against fraud, and more.

AdCast™Delivering ads to the world’s best mobile exchanges, channels, and networks

15

Our proprietary ad scoring index guarantees

value by evaluating publisher reliability and CPM

pricing so you have access to consistently

viewable impressions at the best prices

available.

• Ensure quality with trusted and scored

inventory

• Boost performance

• Protect your brand

• Gain transparency with post-campaign site

reports

• Get the inventory you want that works best

for your brand and campaign

AdScore™Turning fear into confidence with pre-bid placement verification

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In my 20 years in digital, 13 in mobile I haven’t been this excited about an

opportunity to help evolve an industry. Our technology is years ahead of the

competition, yet a couple years overdue based on our customers needs.

The traction we are getting is faster than any of my 5 previous sales teams

– Evan Krauss / CRO

Revenue

17

Revenue Leadership

Digital media veteran with a

proven record of championing

and developing successful

businesses in important

emerging market sectors.

With over 15 years in digital

media, Amy is known for

building high performing

teams and leadership in

dynamic marketplaces

Amy SolomonVP Sales East

Experienced marketer with a

propensity to help brands tell

stories. He led marketing for Rob

Emrich’s previous company before

it was acquired, and he has joined

forces to do it again.

Matt RussoHead of Marketing

Former CEO & co-founder of

mobile city travel companion

Spotsi and alumni of Wieden +

Kennedy technology incubator

Lauren WolffCreative Director

18

Evan KraussCRO

Revenue

On the revenue front, the first half 2014 was about testing our

technology with live customers, proving market fit and honing our

messaging to attract the right customers.

After successful campaigns with a number of fortune 100 brands such

as Unilever, Bayer, Paramount, Hershey’s, Hasbro, Amazon, Chase

and 7’11, we spent the 2nd half of the year building out our revenue

organization. Our team at the end of the year consisted of 5 sellers, 2

sales support, 2 sales operations, and a creative team of 3. All but 1

are new employees hired during the 2nd half 2014.

We are very excited about the team we have in place and feel

strongly they are the right team to help us hit our revenue targets

and beyond. It took a bit longer to put together than we expected but

it is one of the best I have put together in my 20 years.

The team has been trained and in market selling for about 4 months

now. The pattern of driving awareness, interest, intent, and test buys

is following the exact pattern I would expect at this stage of our

business.

Reflections on 2014 Thoughts on 2015

With over 200 sales meetings under our belt and an ever-growing pipeline we feel strongly that our solutions are resonating in the

market. We have met with and are seeing traction with 60 of the top 100 digital spenders today. Many of which have already led

to RFP’s and closed deals.

With the continued increase in PR attention and sales

momentum we are seeing good traction with candidates on the

hiring front and we will continue to hire A+ talent throughout the

year. We expect to double the number of sellers and grow our support team by roughly 50% this year.

19

Evan Krauss

Review of the Past + Predictions for the Future

CRO

HIRING GROWTHTEAM OF 14

January 2014 January 2015January 2013January 2012

TEAM OF 3

SELLER SUPPORT

TEAM OF 3TEAM OF 2

Direct Sales Growth

REVENUE GROWTH

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Revenue Growth

21

01 / 2014 01 / 201501 / 201301 / 201201 / 201401 / 201301 / 2012

Modeled Revenue Plan Actual & Forecast Revenue Reseller Revenue

01 / 2015

DIRECT SALES RESELLERS

We take a very disciplined approach to our growth focusing on our culture,

communication and alignment. We take great pains to develop a team of the

highest caliber who embody our core values and are dedicated to the ambitious

mission we have set for ourselves. Furthermore, we developed the processes

to align our company objectives with department goals and individual

employee tasks. That way, we are all striving for the same goal.

– Sam Kim / COO

Operations

22

Operations Leadership

Sam worked in the IP and Business space at

Simpson Thacher and Bartlett LLP before

becoming a partner at SGGS. He then went

on to lead Business Development efforts at

Sensible Medical Solutions before founding

The Mobile Majority with Rob.

Sam GoldbergFounder & Counsel,

Business Development

Sam has extensive experience in B2B,

technology and finance through his

work at the World Bank, Credit Suisse

and Kalchas. Prior to joining The

Mobile Majority, Sam built and sold a

commodities trading platform.

Sam KimFounder & COO

Mobile advertising veteran with over 6

years of industry experience managing

international teams of 18 Ad

Operations people and executing

performance and brands campaigns at

Smaato and Mdotm.

Sam TamHead of Ad Operations

23

Operations

Sam KimChief Operating Officer

I think of 2014 as the year we built a high throughput factory

capable of manufacturing everything from a Ford Escort to the

state-of-the-art Tesla Model S. While it takes most companies years to build a flexible production line like ours, we did it in

record time with very limited resources. For that, I am

incredibly proud of our team.

We have the industry’s best engineers who built a revolutionary

product utilizing the latest open source technologies. It is fast, reliable and flexible. We can produce and traffic very simple

static image based campaigns all the way to bespoke rich-media ads that utilize mobile-specific features such as a phone’s accelerometer. It is truly the first the first of its kind.

Our award-winning creative team developed highly engaging ads that lapped the industry averages on interaction and engagement metrics.

Reflections on 2014

24

Our ad operations team proved they can traffic $4 million in a single month and as much as $350,000 in a single day. This from a small, nimble team of three doing what other

companies need 10 or more people.

Thoughts on 2015

While 2014 was a monumental year for the team, we achieved our success with very little focus on sales and

marketing. We generated strong revenues for a company

with one seller and a product that was in various stages of completion.

That’s why 2015 will be the year of marketing and sales. We have proven out the market demand for our product and services. Now, we must let the world know who we are and why they should do business with us. We will tackle this challenge with the same tenacity we built our factory last year. And I expect nothing to stand in the way of our marketing, sales, and business development teams."

Review of the Past + Predictions for the Future

Creative + Case Studies

25

2014 Creative Sizzle Reel

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Watch the Reel

The Big Screen Goes Mobile

Impactful creative gets better results

Utilizing inline video, “Add to Calendar” functionality, and a Fandango ticket reservation integration, we were able to create awareness for this major film release and drive viewers to the box office for Paramount.

Paramount – T4

27

• 16% clicked to play video

• Nearly 90% video completion rate

• 11% of those who completed video

entered sweepstakes

• 7% of entrants added release date

to calendar

KEY INSIGHTS View the Ad

This “wipe to win” rich-media campaign drove top-to-bottom funnel results for Bayer’s OTC cold and sinus product.

• 6.2% ad engagement rate

(vs. 1% industry norm)

• 25 second average length of

engagement

• 13% coupon redemption rate

Bayer – Aleve-D

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Interactive Rewards Win Big

KEY INSIGHTS

Mobile engagement moves the needle —from awareness to purchase

View the Ad

Driving Awareness Through Advanced Targeting

• Campaign Duration:

10 days

• Impressions:

378,577

• Video Completes:

7,074

• Video Completes

1.87%

• Campaign Duration:

1 day

• Impressions:

220,823

• Video Completes:

11,868

• Video Completes

5.73%

NBC – Constantine

Audience Targeting Outperforms Site-List Targeting

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Targeting the right audience proved useful for NBC, as we served 220,823 impressions in ~1 day for their newest series Constantine. Alternatively, site targeting resulted in just over 378,500 impressions over ~10 day span.

KEY INSIGHTS View the Ad

Deliver the Experience on Mobile

• Click to play: 6.59%

• CTR % (win): 48.91%

• CTR% (fail): 72.73%

• AV. Time Spent (Seconds):

41.82

Hasbro – Simon Swipe

30

Rather than telling consumers what it’s like to play Hasbro’s newest game (Simon Swipe), we elected to show them instead by replicating game play through this interactive rich-media ad.

Users who lose the game may engage

more with post-game features v

KEY INSIGHTS

View the Ad

Catching Z’s. Literally.

• Engagement rate: 1.36%

• Email Opt-in Post-Game: 17.38%

• Coupon Redemption: 24.97%

• Press from Various Publications:

Mashable / Mobile Marketer / Creativity Mag

Neuro – SLEEP Water

31

Game play proves again that consumers prefer to engage with interactive ads, ad are more likely to opt in once the branded experience is over.

Increased coupon redemptions after

game interactionv

KEY INSIGHTS

View the Ad

Get Out the Vote, 2014 Political Primary

BEFORE

Speaker Boehner fav/unfav was: 52-40 = net + 12

Boehner for Congress

32

WHAT WE DID

• $20,000 Budget, 2 Weeks

• 72% effective list coverage

RESULTS

Speaker Boehner’s favorable/unfavorable ratings were 71-22 = Net +29, a 408% Increase

The right message to the right media proves to be influential on mobile

KEY INSIGHTS

Increased revenue is the obvious metric by which high-growth

companies are measured. But what is perhaps more exciting

from a business standpoint is the velocity of our technology’s

development and the opportunity it creates to dictate the

landscape of the industry moving forward.

Company Growth

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26,698% 3 Year Revenue Growth

34

Would be 5th Fastest Growth Company

according to the inc500 Formula

2012Revenue

267 X 2012

15 X 2012

2013Revenue

2014Revenue

Geographic GrowthIn 2014, The Mobile Majority became a truly global

company. With presences already established on

both coasts of the United States, we expanded our

skill set and offerings by attracting some of the

most talented developers, sales people, marketers,

and ad operators in the world.

Our expansion to four new cities across two

continents is also a metaphor for industry we serve.

Through technology, we are able to bridge the

vision of our founders with the people necessary to

take advantage of the seismic shift taking place

around the globe. No longer does geography

define the limits of our capabilities.

4

18

22

1

1

USA

6

BRAZIL

35

Santa Monica

New York

Sao Paulo

San Francisco

Chicago Detroit

Columbus

First Corporate Acquisition: Elastic

Why Brazil?

The U.S. market suffers heavily from a skewed demand vs. the

supply of available developers. Brazil has a large pool of highly

qualified engineering workforce mainly employed in conventional,

large scale enterprise operations and a growing (but small) startup

scene.

Many of the brightest and more entrepreneurial software engineers

have difficulties finding opportunities to work at the forefront of

technology like The Mobile Majority does. As a result, it is easier to

procure talent in a short amount of time to fuel the company's

growth.

For example, our Sao Paulo-based team is comprised of highly

skilled and talented software engineers, some of which possess

PhDs and Master's degrees through some of the most prestigious

institutions in Brazil. The team brings talent to all areas of product

development including UI, backend, highspeed API integration,

operations, and machine learning.

36

<

Valuation Comp

37

<

Valuation Comp

38

POST MONEY VALUATION

INVESTMENT

RETURN

$15.9MRETURN

$4.4MRETURN

$16.6M

INVESTMENT INVESTMENT INVESTMENT

2012 2013 2014

SEEDJAN 2012

A1DEC 2012

A2DEC 2013

B1MAY 2014

RETURN

1,155%

RETURN

857%RETURN

282%

2015

CURRENTIMPLIED

VALUATION

RETURN

150%

Request specific numbers by emailing invest@majority.co

In 2014, some $50 billion of U.S. advertising

dollars was allocated to digital channels. While

mobile received just over one-third of that

spend, it will account for more than 70% of the

growing digital market by 2018.

Market Growth

40

Test

Source: StatCounter Global Stats, 5/14. Note that PC-based Internet data bolstered by streaming.

Mobile becomes a greater part of everyday live

41

Mobile is Exploding

15 Source: Advertising spend based on IAB data for full year 2013. Print includes newspaper and magazine. $30B+ opportunity calculated assuming Internet and Mobile ad spend share equal their respective time spent share. Time spent share data based on eMarketer 7/13 (adjusted to exclude outdoors / classified media spend). Arrows denote Y/Y shift in percent share.

Mobile is ExplodingGreatest Advertising Opportunity is in Mobile…

42

Source: Global Mobile App revenue per Strategy Analytics; comprises virtual goods, in-app advertising, subscription, & download

revenue. Global Mobile 16 Advertising revenue per PWC; comprises browser, search & classified advertising revenue.

Mobile is Exploding…And Spend Continues to Increase

43

Financials (Investors Only)

44

“Whenever you see a successful business, someone

once made a courageous decision.”

―Peter F. Drucker

Request materials by emailing invest@majority.co

Two billion people are expected to own a smart phone by the

end of 2015, with over 83% of all Internet usage happening on

those devices. As advertisers and agencies decide where to

spend their budgets to accommodate this influx of demand, The

Mobile Majority’s integrated approach creates a competitive

advantage in a highly fragmented marketplace and delivers

superior results to our clients.

Strategy (Investors Only)

45

Request materials by emailing invest@majority.co

The Last WordOur institutional knowledge of the mobile industry is substantial.

Through observations as media buyers, we learned that the mobile

advertising technology ecosystem was broken. Advertisers were being

charged for ads that were never seen and ads were not rendering

properly which effectively crashed the apps. Leveraging these

learnings, we expanded upon our core mobile technologies to burst

onto the seen in 2014 as the premier mobile rich media technology. In

the words of the Supremes: "Reflections of the way life used to be...“

We may not win every time, but we tenaciously fight for every inch.

Those inches have grown into yards…and the yards will grow into

miles. 2014 was a year of evolution and growth for us to emerge as a

cutting edge technology company at the forefront of a multi-billion

dollar industry.

2015 is our time to shine. Our technology innovation will continue

advancing, and we will broaden our customer base by offering a self-

serve mobile media buying platform. Having established our

technology as a market leader in 2014, we are now investing in our

marketing and sales efforts to increase exposure and share the story

with those that need it most: advertisers. Too long have advertisers

been frustrated by paying for mobile ads that fail technologically or are

so small that they cannot be read by consumers. Many in the industry

are talking about the problem - we are delivering the solution.

46

Sam GoldbergFounder, Corporate Development & Counsel

Many thanks.

Onward