From: James Fitzgerald

From: James Fitzgerald To: "Jeffrey E." <[email protected]> Cc: Andrew McCormack ae Subject: Re: Potential Valar Co-Invest -- CONFIDENTIAL and TIME-SENSITIVE Date: Thu, 15 Jun 2017 17:45:44 +0000 Attachments: Business and Strategy_June_2017.pdf Jeffrey, Attaching the Stash deck (super confidential, please don't share it); let us know if you want to pick a time to chat by phone. All the best, James On Wed, Jun 14, 2017 at 2:49 PM, James Fitzgerald c,e- wrote: > Yes, we are free for the next 2 hours let us know when and where to > reach you or feel free to try us on > Best, > James > On Wed, Jun 14, 2017 at 2:12 PM, jeffrey E. leevacation®gmail.com> wrote: >> Can I call today >> On Wed, Jun 14, 2017 at 1:59 PM James Fitzgerald ce wrote: >>> >» All, >» >>> For those who expressed interest in the Stash co-investment >>> opportunity, we will be holding a conference call this Friday, June >>> 14, at 10am New York time, to answer any questions you may have. Note >>> that we would like to receive firm indications of interest (dollar >>> amounts) by Monday of next week. >>> >>> If you'd like to join the call, please use the following dial-in >» instructions: >» >» Dial: +I (719) 457-0816; Passcode: 438412# >» >» Best, >» >>> James >» >» >» >>> On Tue, Jun 13, 2017 at 2:57 PM, James Fitzgerald cfl wrote: »» Valar Investors: >»> EFTA01047393 »» We are pleased to inform you that Stash Invest, which is the largest >>> > investment in Valar Fund 3, has signed a term sheet for its Series C >>> > financing round. Our allocation in the round exceeds Fund 3's >>> > remaining reserves for this investment, so we are making a portion of >>> > it available through a co-investment SPV (similar to the Transferwise >>> > SPV we did in 2014 and 2016). >»> >>> > The following details are confidential, so please do not disclose them >>> > outside of your respective firms: >»> >>>> Lead investor: Coatue Management >»> >>> > Round size: $40M Series C, with $25M from Coatue and the remaining »» from existing investors >»> »» Valuation: $200M pre-money ($240M post-money). >»> >>> > Last round valuation: As a reminder, we led the $25M Series B, which >>> > closed in December of last year, at a $100M post-money valuation. The >>> > current round represents a meaningful step up in valuation, and >>> > reflects the continued rapid growth of the company over the past 6 >>> > months (more than 2.5x growth in user base since December). >»> >>> > We expect to make approximately $4M - $6M available to investors >>> > through the new SPV. Our standard co-investment fees will apply (0% >>> > management fees and 20% carry for existing Valar investors; full fees »» and carry for outside investors). >»> >>> > If you are interested in participating in this co-investment >>> > opportunity, please let us know as soon as possible and we can share >>» further details. >»> »» All the best, >»> >>> > James and Andrew >» >» >» »>-- >>> James Fitzgerald / Valar Ventures / 915 Broadway / Suite 1101 / New >» York NY 10010 » -- » 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 EFTA01047394 >> destroy this communication and all copies thereof, >> including all attachments. copyright -all rights reserved > > > > -- > James Fitzgerald / Valar Ventures / 915 Broadway / Suite 1101 / New > York NY 10010 James Fitzgerald / Valar Ventures / 915 Broadway / Suite 1101 / New York NY 10010 EFTA01047395