From: "Jeffrey E." <[email protected]>

From: "Jeffrey E." <[email protected]> To: David Fiszel Subject: Re: Have an idea for you Date: Wed, 05 Jul 2017 20:33:09 +0000 ok On Wed, Jul 5, 2017 at 10:32 PM, David Fiszel > wrote: Your boy Tommy just took part of your Spotify allocation. Would you be ok with Sim? On Jul 5, 2017, at 4:24 PM, Jeffrey E. <[email protected]> wrote: Yes On Wed, Jul 5, 2017 at 8:45 PM, David Fiszel > wrote: I am going in for Spotify privately personally and for the fund. I think it's Netflix 5 years ago and we have done a ton of work on it. Currently $13B valuation and we think it will be a $25B company when it goes public with global potential to be a $50b in 2020. Press reports suggest IPO at year end. They did $3B of revs last year growing 50% and will be FCF breakeven this qtr. We have a co-investment oppty that funds next week. I'm taking $5m of it and have $1.5m for you if you would like to join me. This e-mail and any file(s) transmitted with it may contain confidential and/or privileged information. Nothing contained in this e-mail and/or any file(s) transmitted with it constitutes a solicitation or an offer to buy or sell any securities. Use or disclosure of this e-mail or any such files by anyone other than a designated addressee is unauthorized. If you are not an intended recipient (or have received this email in error), please notify the sender immediately and delete this e-mail without making a copy. If this e-mail is misdirected, Honeycomb Asset Management, L.P. and its affiliates do not waive confidentiality or any privilege. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA01041578 This e-mail and any file(s) transmitted with it may contain confidential and/or privileged information. Nothing contained in this e- mail and/or any file(s) transmitted with it constitutes a solicitation or an offer to buy or sell any securities. Use or disclosure of this e-mail or any such files by anyone other than a designated addressee is unauthorized. If you are not an intended recipient (or have received this email in error), please notify the sender immediately and delete this e-mail without making a copy. If this e-mail is misdirected, Honeycomb Asset Management, L.P. and its affiliates do not waive confidentiality or any privilege. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA01041579