Mint Pitch Deck

Joanne Chen | Michael D’Orazio | Victor Ho | Alan Rutledge April 20, 2007

Mint: Save Time & Money Transactions • List of detailed transactions grouped my category • All assets • All debt • Current net worth •Tags, to customize transactions into folders • Line graph plotting spending over time

Goals • List of goals • Current net worth allocated to goals • How much of goal is achieved • All assets • All debt • Current net worth • Notes

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Team & Advisors Aaron Patzer

Lead Architect, Nascentric (chip simulation software)

CEO & Founder

Founder, GetAWebsite (search engine optimization)

David Michaels

Director of Technology, ShockMarket Corporation

VP Engineering

Director of Engineering, PGP (security software)

Dave McClure

Director of Marketing, PayPal (micro-payments)

Director Marketing

Director of Marketing, Simply Hired (job search)

Jason Putorti Lead Designer

CTO & Founder, Novaroura (acquired by FittingGroup) Co-Founder, Six Madison (anti-fraud SAS)

Investors & Advisors First Round Capital, Felicis Ventures, Ron Conway, Scott Cook (Intuit Founder & CEO) 3

Market Size - US 49 Million People

31 Million Prospective Mint Users

22 to 35 age range

64% of target demographic use online banking

Referrals (CPA)

Advertising (CPC)

$8 RPU per year w/ 14% CAGR

$4.50 RPU per year w/ 22% CAGR

Conversion

CPA

Referral

Data to Leverage

0.75%

$50.00

Savings Accounts

Zip Code (feasibly: School or Workplace)

1.00%

$75.00

Internet

Age (feasibly: Gender)

0.50%

$75.00

Credit Cards

Income (propensity to spend)

0.25%

$50.00

Cell Phone

Where and when you shop

0.10%

$200.00

Bank Accounts

What brands you buy

$388 Million Total Addressable Market Opportunity w/ 16% CAGR 4

Competitors Key Competitor: Wesabe

Potential Entrants

• No revenue model – Freemium

• Develop simple, easy-to-

• Community based - limited source of information from “wisdom of the crowds”

use, free personal finance online application to cater to mainstream

• Poor traction

• Acquire Wesabe or similar online application

• Unspecific suggestions

Mint’s Comp. Advantages

Mint’s Defensibility

• User-specific saving opportunities

• High service switching costs

• Compelling AI-based auto-sorting

• 3 non-pending technology patents

• Easy and intuitive user interface

• Integration partnerships (TurboTax)

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Benefits

Costs

Ease of Use

Value to User Easily tracks and logs data from multiple sites

Free to use; Automated billing and categorization

Saves time Save money

Finance Software

Online Banking

Finance Social Networks

Steep learning curve; UI cluttered with excessive features

Inconsistent layout; difficult to aggregate other sites

Intuitive interfaces; simplified features

Required initial investment and update fees

Integrated with bank account and bill pay

Users must contribute to add value

Powerful feature set for keeping finances organized

International presence; strong advertiser network, existing users

Low quality usergenerated advice

Mint offers the most compelling and easy way to manage your personal finances. 6

Value to Partners Prospective Partner

Product or Service

Customer Acquisition Cost1

Mint Referral

Value Proposition

Wamu

Savings Accounts

$200.00

$50.00

$150.00

Comcast

Internet

$200.00

$75.00

$125.00

Capital One

Credit Cards

$150.00

$75.00

$75.00

Cingular

Cell Phone

$325.00

$50.00

$275.00

Wells Fargo

Bank Accounts

$175.00

$125.00

$50.00

E-Trade

Brokerage Accounts

$475.00

$100.00

$375.00

Blue Cross

Insurance

$225.00

$100.00

$125.00

Bank of America

Mortgage

$550.00

$325.00

$225.00

Partners can increase revenue via cost-effect customer acquisition 1. http://www.emetrics.org/articles/acquisition.shtml

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User Acquisition Launch

Growth

Maturity

Word of mouth & viral, Blogosphere referral badges, sharable website tags

Direct email

Distribution partners

Internet advertising

• Targeted opt-in email lists

• Affiliate networks

• Overture + Adwords

• College list serves

• Mutual linking sites

• Symposium & events • Personal finance lists

PR • Buzz marketing

SEO

• Company blog

• Organic search

• PR tactics

• Optimized page markup

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Business Model User Acquisition

Gather User Information

Intelligent Suggestions

User Switches = Referral Fee

From

Includes

Based On

Fee Types

• Advertising

• Account Types

• History

• Bank Account

• E-mail

• Spending Patterns

• Usage

• Credit Card

• Viral Marketing

• Credit History

• Spending Habits

• Cell Phone Carrier

• Distribution Partners

• Demographics and Preferences

• Current Market Deals/Rates

• ISP • Loan

Mint makes money when users make money rather than relying on creating value through added services Future Potential: Advertising Large expected user base

+

High quality user data

+

Premium targeted ads

=

High Profit Potential 9

Financials 2007 Total Users Referrals Credit Cards Savings Accounts Bank Accounts Internet Service Provider Cell Phone Targeted Advertising Total Revenue

Assumptions Investment Stake Hurdle Rate

Projected Year Ending December 31, 2008 2009 2010

100.0

180.0

309.6

510.2

$56.3 50.0 30.0 97.5 17.5 500.0 $751.3

$111.4 101.3 62.1 193.1 33.3 1,012.5 $1,513.6

$210.7 195.9 122.8 365.3 60.4 1,959.2 $2,914.3

$382.0 363.2 232.8 662.1 104.6 3,632.3 $5,377.1

Sales and Marketing Expense

225.4

302.7

291.4

268.9

General and Administrative Expense

300.0

544.0

942.7

1,565.3

Research and Development Expense EBIT

187.8 $38.1

340.6 $326.3

590.1 $1,090.1

980.0 $2,562.9

Expected Earnings

$3.0M 15% 5%

IRR: 25%

Revenue by Source 5.0

$5.0

4.5 4.0

Dollars (Millions)

Dollars (Millions)

$4.0

$3.0

$2.0

$1.0

3.5 3.0 2.5 2.0 1.5 1.0

$0.0

0.5 2007

2008

2009

2010 0.0

($1.0) Dow nside

Expected

Upside

2007 Targeted Advertising

2008 Savings Accounts

Credit Cards

2009 Bank Accounts

2010 Cell Phone

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Exit Strategy

Allows Google entrance into personal finance industry by providing simple, free application

Low switching costs for current product set; desire to increase lock-in

More targeted advertising; increased customer lock-in

Seamless integration with Google Finance site

Expand personal finance presence by bringing personal finance software to mainstream

Expand personal finance presence by bringing personal finance software to mainstream

More targeted advertising; increased customer lock-in

Increase product upsell; augment patented technology

Integration with MS Money by providing online interface

Seamless integration with Yahoo Finance site

Integration with Quicken by providing online interface

Increase product upsell; augment patented technology

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Q&A Product

Product Comparisons

Team

Alternative Revenue Streams

Market Size

Management Expertise

Value to Users

Potential Acquirers

Business Model

5-Year Revenue Projections

User Acquisition Financials Acquirers Risks & Precautions

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Risks & Precautions Risks Low barriers to entry; new competitors

Lack of user commitment

Low user referral rate

Existing competitors adding similar features

Slow initial growth

Mitigate

Precautions Develop name brand to assure high market penetration and growth rates; patent proprietary technologies Leverage high value, low time investment proposition for users; develop user community

Push high monetary value of utilizing suggestions; offer multiple choices Technology patents filed; feature set would be difficult to integrate with a boxed product Utilize management team’s superior know-how and clear viral marketing potential to ensure growth

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Competitive Response Microsoft

Result

Attempts to copy MyMint’s website and business model

Delays Microsoft market entry and increases costs

Leverages brand name and market reach

User base safe, competition for new users may occur

MyMint Enforce patent protection of proprietary technology

Satisfied users have little incentive to switch

Extensive experience and software specialization

No advantage

Highly experienced management team

Synergies with current software such as Quicken

MyMint offers a unique product

Technology extends beyond reach of existing software

Defensibility 14

Financial Assumptions User Base Adoption Rate

1 2 3 Referrals Credit Cards

80.0% 80.0% 80.0% 100.0%

72.0% 68.0% 72.0% 90.0%

64.8% 57.8% 64.8% 81.0%

Step (15.0%) (10.0%) (10.0%)

1 2 3

0.75% 0.50% 0.75% 1.00%

0.83% 0.55% 0.83% 1.10%

0.91% 0.61% 0.91% 1.21%

1.00% 0.67% 1.00% 1.33%

Step 10.0% 10.0% 10.0%

1 2 3

1.00% 0.75% 1.00% 1.25%

1.13% 0.83% 1.13% 1.44%

1.27% 0.91% 1.27% 1.65%

1.42% 1.00% 1.42% 1.90%

Step 10.0% 12.5% 15.0%

1 2 3

0.15% 0.10% 0.15% 0.20%

0.17% 0.12% 0.17% 0.23%

0.20% 0.13% 0.20% 0.26%

0.23% 0.15% 0.23% 0.30%

Step 15.0% 15.0% 15.0%

1 2 3

1.3% 1.0% 1.3% 1.6%

1.4% 1.1% 1.4% 1.8%

1.6% 1.2% 1.6% 1.9%

1.7% 1.3% 1.7% 2.1%

Step 10.0% 10.0% 10.0%

1 2 3

0.35% 0.25% 0.35% 0.45%

0.37% 0.25% 0.37% 0.45%

0.39% 0.25% 0.39% 0.45%

0.41% 0.25% 0.41% 0.45%

Step (15.0%) (10.0%) (10.0%)

1 2 3

$5.0 $5.0 $5.0 $5.0

$5.6 $5.5 $5.6 $5.8

$6.3 $6.1 $6.3 $6.6

$7.1 $6.7 $7.1 $7.6

30.0%

20.0%

10.0%

5.0%

39.9%

35.9%

32.3%

29.1%

(10.0%)

25.0% 25.0% 25.0% 25.0%

22.5% 23.8% 22.5% 21.3%

20.3% 22.6% 20.3% 18.1%

18.2% 21.4% 18.2% 15.4%

Step (5.0%) (10.0%) (15.0%)

Savings Accounts

Bank Accounts

Internet Service Provider

Cell Phone

Advertising Targeted Advertising

Costs Sales and Marketing Expense General and Administrative Expense Research and Development Expense 1 2 3

Step 10.0% 12.5% 15.0%

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Exit Calculation Multiples Analysis for MyMint Dollars in Millions (MyMint in Thousands) Company PlanetOut.inc DealerTrack Synchronoss Technologies

Ticker LGBT TRAK SNCR

Enterprise Value $61.9 $940.2 $490.8

2007 Sales $76.0 $219.8 $101.8

2007 EBIT ($7.2) $57.3 $24.0 1 2 3 4

MyMint Sales EBIT Cash Flows Reinvested IRR

2007 751.3 38.1 (3,000) 25%

2008 1,513.6 326.3 1 $49

2009 2,914.3 1,090.1 2 $164

2010 5,377.1 2,562.9 3 $6,259

2011 2012 9,532.4 16,278.8 4,994.7 9,223.1 4 5 $0 $0

EV/Sales .8x 4.3x 4.8x

EV/EBIT N/A 16.4x 20.5x

4.8x 3.3x 4.3x .8x

20.5x 9.4x 16.4x N/A

High Average Median Low

Sales Year Method Assumptions Investment Stake Hurdle Rate

3 1

$3.0M 15% 5%

EV $25,914 $52,414 Average EV $39,164

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