1. Going GlobalOctober, 2011

2. eCGs global presence driven by both acquisitions and organicinvestments 3. Online GDP is a useful macro-metric to identify attractive markets1. Outside existing key Big-10 eCG markets 2. Top 30 accounts for 90% of RoW online GDP 4. Mobile or PC?White outlines indicate eCG Presence160Mobile OnlyMobile + Web Italy140 Hong Kong Singapore Mobile subscriptions per 100 inhabitants PortugalGermany UK Denmark120 Spain IrelandNetherlandsArgentina Poland Finland100 PanamaTaiwan SwedenSouth Africa Venezuela Uruguay Australia Norway France New ZealandPuerto Rico 80IndiaChileEcuadorMalaysia Japan United StatesColombiaChina 60 MexicoCanada PhilippinesPeru BrazilDominican Rep. 40 IndonesiaEgypt Bolivia Costa Rica 20 0Neither Web Only0510 15 20253035 40 45 5055 60 65 70 75 80 85 Internet users per 100 inhabitantsSource: Forrester Research, How Consumers Connect Around the World, August 20, 2009 5. Redefine your marketsLocal MobileSocialDigital 6. Case Studies Build, Buy, Partner 7. China Case Study Partnership with local players to leverage their knowledge Multiple investment rounds with clear focus Targeting one market at a time bearing fruit 8. Latin America Case Study Ready-made product with local brand Local management team Head start in an attractive market Accelerated learning