c
Important disclosures appear at the back of this re port.
GP Bullhound LLP is authorised and regulated by the Financial Services Authority in the United Kingdom
Sector Update
January 2011
Technology / Media / Telecoms
GP BULLHOUND TECHNOLOGY PREDICTIONS 2011
Christian Lagerling [email protected]
San Francisco: +1 415 986 0196
Per Roman [email protected]
London: +44 (0) 207 101 7568
Julien Oussadon Justine Chan
Florent Roulet
Investors Ready to Open Pockets to Innovative Technologies In 2011
For the fourth year running, GP Bullhound is publishing its Technology
Predictions for the upcoming year.
As the global economy emerges from the financial crisis, we anticipate
businesses and investors alike will capitalize their resources to invest in the
next wave of innovation in 2011.
Accordingly, many of our predictions seek to streamline the way we approach
everyday tasks. In 2011, we anticipate consumers will take another step
towards wireless by adopting shopping, dating, gambling, payments and even
household management on mobile. The rise in augmented reality adoption will
complement this, as we continue to merge the information on the web with our
mobile lifestyles. Moreover, as mobile applications continue to proliferate we
expect developer-friendly open platform benefits will extend Google’s Android
lead over Apple’s iOS. In the wake of the explosion of mobile applications, we
expect vendors to step up to provide real-time analysis and predictions of
consumer behaviours. Additionally, we expect increasing mobility and pace of
life will drive users to abridge communication messaging, favouring short
messaging formats over blogs and long format emails.
In another move towards increased mobility, we anticipate games will move
into the cloud, reducing development and porting costs for developers and
enabling gamers to access games and content real-time.
As capital markets and investor appetite continues to grow, we also anticipate
a comeback for solar thin films. Supported by increasing c-Si pricing and
meaningful commercialization, we believe 2011 yields a turn of fortunes for the
sector.
All in all, as markets renew back to 2007 levels, we anticipate 2011 will yield a
strong year of technological development.
--------------------------------------------------
*Note that GP Bullhound acts or has acted as an advisor to some of the companies mentioned in this
report. Please refer to disclaimer at the back for full disclosure
INDEPENDENT TECHNOLOGY RESEARCH
(1)
2011 PREDICTIONS:
GOOGLE’S ANDROID DISTANCING APPLE’S IOS
MOBILE PAYMENTS SET TO SURGE IN 2011 – GET READY FOR THE RACE
SOCIAL SHOPPING, DATING AND GAMBLING WILL THRIVE ON MOBILE
AUGMENTED REALITY APPLICATIONS TAKE-OFF, DRIVEN BY A LOCATION BASED SERVICES FOOTPRINT
MOBILE AND SMART GRID APPLICATIONS OPEN THE DIGITAL HOME
PRIVACY BECOMES A TOP PRIORITY FOR SOCIAL NETWORK USERS
THIN FILM MAKES A COMEBACK AND VCS START TO EXIT TO STRATEGICS IN DROVES
SHORT MESSAGING FORMAT WILL GAIN WIDER SUPPORT AND MOMENTUM
GAMING MOVES INTO THE CLOUD
A NEW GENERATION OF BUSINESS INTELLIGENCE AND DATA ANALYTICS CONSUMER APPS WILL EMERGE
TMT PREDICTIONS 2011
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GP Bullhound LLP January 2011
A RECAP OF GP BULLHOUND 2010 PREDICTIONS
Looking back at our “GP Bullhound Technology Predictions 2010” we are
pleased to note that several of our projections gained strong momentum
during the year, while a few showed early signs but still with some ways to
go.
Our first prediction that behavioural re-targeting will increasingly be
adopted by online retailers was confirmed with the market, reaching critical
mass in 2010 especially in the US. Several leading innovators received
more venture funding during the year (e.g. Criteo, MyThings, Cognitive
Match) while others were acquired by established Internet giants (e.g.
Dapper / Yahoo! or FetchBack / GSI Commerce).
Perhaps most obvious, the number of mobile applications exploded
during the year with Android gaining a significant market share and Apple’s
iPhone repeating its past successes with its 4th version. With the
confirmation of smartphones growing penetration in the consumer market,
augmented reality applications started to gain momentum. We noticed
particular opportunity for augmented reality in gaming applications due to
the high user interaction.
The tablet market did stage a comeback with the success of Apple’s iPad
leading the way. However, we will wait to see in 2011 if Apple and its
numerous followers using Google’s Android platform are able to capitalise
on this successful early adoption to reach the broader market. Ebook
applications will rely on tablets to explode in 2011. Even if several
channels and devices have adopted ebooks, tablets could prove to offer the
best user experience and provide significant opportunities for an upcoming
mass adoption of ebook applications.
In the online music , the battle has begun between the different business
models (download / streaming, advertising / subscription / purchase, etc.),
with Apple, Google/YouTube, Spotify, Deezer and Rdio as the main
combatants. However, winners are not quite defined yet.
Micro-transactions and virtual currencies moved in 2010 beyond the
original gaming sphere with customers increasingly conceiving to buy
certain goods online rather than at their local stores. As micro-payments
exploded, we anticipate the same to happen on mobile in 2011.
Several players in the electric and hybrid vehicles space have
demonstrated that innovation and quality could be combined to produce
affordable and reliable cars. Tesla Motors in the US (listed since June
2010), Micro-Vett and Ashwoods Automotive in Europe are expected to
continue expanding their production in 2011. Mass adoption is still to come
however.
Consolidation within the solar PV value chain has been one of the key
Cleantech themes of the year. Strategic and Asian players are driving this
consolidation (e.g. LDK / Solar Power). Large PV manufacturers are also
acquiring successful developers and their pipelines (e.g. First Solar /
NextLight and Edison Mission, Sharp / Recurrent Energy).
2010 Predictions:
“The year of Behavioral re-targeting”
“Augmented reality is becoming a reality...”
“Cloud computing drives green IT initiatives”
“Mobile applications become a mainstay”
“Virtual currencies & micro-transactions expand beyond games”
“The return of the tablet PC”
“ebook applications will explode across a multitude of devices and channels”
“Affordable electric and hybrid vehicles reach the broad demographics”
“Consolidation within the solar photovoltaics supply chain”
“Industry shakeout in online music distribution as the winners are defined”
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TMT PREDICTIONS 2011
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GP Bullhound LLP January 2011
Start-ups to lookout for:
London, UK
Mountain View, US
Mountain View, US
London, UK
Toulouse, France
GOOGLE’S ANDROID DISTANCING APPLE’S iOS
We expect that Android will increase its lead over Apple’s operating
systems (iOS) in 2011 due to its open platform benefits and increasing
mindshare amongst end users as well as developers. For the first time in
November, 2010, Android surpassed the iPhone in the US in a total
installed base of 61.5m smartphone subscribers. Android has already been
for months the leading operating system among recent acquirers.
Exhibit 1 – Top Smartphone Platforms in the US
19.6% 26.0%33.0%
45.0%
24.2%25.0%
27.0%
30.0%37.6%
33.5%
33.0%25.0%10.8% 9.0%
3.0%4.6% 3.9%
0%
20%
40%
60%
80%
100%
August 10 November 10 End of 2011 End of 2014
3-m
onth
ave
rage
-U
S s
mar
tpho
ne s
ubs.
age
d 13
+
Google / Android Apple RIM / Blackberry Microsoft Palm
Source: ComScore for 2010 data, GP Bullhound estimates for projections
After having competed on mobile devices only, rival operating systems
have now added the tablets market as a new battleground with specifically
designed versions (e.g. Android Honeycomb).
Exhibit 2 – Tablets and Mobile Handsets using Andro id and iOS
vs.
Source: Google, Samsung, Motorola, Apple
Google’s long time strategy to open up its technology to a variety of
manufacturers and application developers will be paying off as multiple
devices will hit the market (especially from Asian players such as Samsung,
LG or Acer keen to create fierce competition to US-based Apple) with a
plethora of quality apps being made available. In the meantime, Symbian
(Nokia-led rival open-source OS) has seen its market share consistently
shrinking mainly due to smartphones manufacturers preferring Android for
their best brand and user interface. Another competitive advantage for
Android lies in its wide range of potential mobile operators when Apple has
signed exclusivity agreements in several countries.
Even in terms of apps store, Google has opted for an open approach by
allowing other web merchants to enter the game. As an example, Amazon
has recently announced it will launch its own apps store for Android.
TMT PREDICTIONS 2011
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GP Bullhound LLP January 2011
Start-ups to lookout for:
Paris, France
San Francisco, US
Rome, Italy
Munich, Germany
Palo Alto, US
MOBILE PAYMENTS SET TO SURGE IN 2011 – GET READY FOR THE RACE
The mobile landscape continues to grow strongly including a continued
slew of new payments providers emerging along with established players
increasingly diversifying their offerings. There are however a number of
more established players such as allopass, ZONG, Boku, Neomobile,
Obopay who are actively looking to partner with tier 1 merchants to
increase their reputational profile as trusted payment specialists.
The mobile payments market can be mapped out in various subsectors
incorporating pure play startups such as Square, Mi-Pay, Luup, Tyfone and
Bling Nation which have recently entered the market, to more established
players such as Allopass.
Exhibit 3 – Mobile Finance Taxonomy
Mobile BankingHandset Contact
Mobile
Payments
Remote Mobile
Payments
P2P Mobile
Payments
Mobile
Finance
Providers
/ Zetawire
Source: GP Bullhound
There are a number of technology trends which have surfaced and resulted
in a more favorable environment for the development of mobile payments
services. Firstly, the rise of smartphones has resulted in users having
access to Internet on the go and through high quality usable interfaces thus
reducing friction in the buying process. As a result, iPhones and other
smartphones have enabled mass consumption of diverse mobile content
and services, such as music, games, banking and shopping.
The mobile payments landscape is currently taking shape, resulting in a
fragmented position today where there around 5-10 key players. M&A
naturally follows, with recent market rumors that Google and Apple have
been bidding at five times revenue for US mobile payments specialist Boku.
We expect consolidation to accelerate and come from various angles
including handset manufacturers, social networks, Internet players,
payment processors, banks and telco carriers.
TMT PREDICTIONS 2011
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GP Bullhound LLP January 2011
Start-ups to lookout for:
Palo Alto, US
Los Angeles, US
Zappli, San Francisco, US
Richmond, UK
London, UK
Stockholm, Sweden
Petah Tikva, Israel
New York, US
Melbourne, Australia
London, UK
London, UK
SOCIAL SHOPPING, DATING AND GAMBLING APPLICATIONS WILL THRIVE ON MOBILE
Three Internet services that revolutionise everyday life of millions of users
in the last few years are expected to massively hit the mobile space in
2011: Social Shopping, Dating and Gambling. They all share inherent
potential around location-based functionalities – tailored for the mobile.
More than just providing a mobile version of their online equivalents,
successful companies will create a different experience entirely dedicated
to mobile users. Winning suppliers will provide seamless interaction
between the three main mobile platforms (Blackberry, Android, iPhone).
Exhibit 4 – Three Key Options on Mobile in 2011
+ +
Dating Gambling Social Shopping
Source: GP Bullhound
As social shopping will continue to grow on the Int ernet in 2011, the
move to mobile will be based on the same success factors: bringing
together shopping communities and sharing recommend ations .
Following the explosion of social networks usage on smartphones in 2010,
retailers can initially only integrate popular sites to their platforms to make
sure shopping recommendations can easily be shares among friends’
networks via feeds page. In a more advanced move to mobile, several
mobile apps are based on in-store barcode scanning.
Group shopping will also find its mobile equivalent . Groupon acquired
mobile development firm Mob.ly in May 2010 and has since successfully
developed applications for iPhone and Android. We can easily imagine
group shopping websites suggesting local deals thanks to location-based
features in smartphones.
Online gambling is expected to experience significant geographic
expansion as it potentially becomes legal in several key US states in 2011
(e.g. New Jersey and California) while several additional European markets
will be deregulated (following France and Italy). The move to mobile will
allow punters to place bets or play ‘in casinos’ anytime and anywhere, thus
significantly increasing user options. As an example, UK bookmakers, after
having successfully transitioned to online gambling, have recently launched
mobile applications to allow real-time betting via smartphones.
After several years of uncertain results, mobile dating will finally become a
reality. Location-based mobile data applications are flourishing at a fast
pace, indicating in real-time who is single around you (e.g. in an airport or
even simply in the street). Thanks to 24/7 access and 3G-enabled video
chat, mobile smartphones will offer a very strong medium for dating
communities.
TMT PREDICTIONS 2011
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GP Bullhound LLP January 2011
Start-ups to lookout for:
San Francisco, CA, USA
Denver, CO, USA
Amsterdam, Netherlands
Boston, MA, USA
London, UK
Boston, MA, USA
AUGMENTED REALITY APPLICATIONS TAKE OFF, DRIVEN BY A LOCATION BASED SERVICES FOOTPRINT
Since 2008, LBS applications have grown exponentially to the current level
of approximately 6,000 applications. Leveraging the groundwork laid by
LBS applications and enabled devices, mobile augmented reality
applications garnered significant buzz and from bloggers, media and early
adopters in 2010. We hereby repeat our 2010 prediction with the added
momentum of these LBS. With the anticipated relase of the next-generation
iPad and other tablets and growing smartphone adoption, we expect LBS
devices to reach critical mass in 2011, driving widespread popularity of
augmented reality (AR) applications.
Exhibit 5 – LBS Subscriber Forecast
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
2007 2008 2009 2010 2011 2012 2013
Americas Europe Asia
Source: Gartner, GP Bullhound
Gartner Research expects that over one-third of the mobile workforce will
use AR applications by 2014, as today’s consumers exhibit increasing
reliance on mobile access to information for everyday life.
Exhibit 6 – Yell Employs AR Application for Listing s
Source: Yell.com
According to a recent quote by metaio, “Everyone will be on the AR
bandwagon in 2011. Even industrial companies and the military will use
mobile AR applications, especially for improving workflows and security.”
TMT PREDICTIONS 2011
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GP Bullhound LLP January 2011
Start-ups to lookout for:
Cambridge, United Kingdom
Laguna Beach, CA, USA
Germantown, MD, USA
MOBILE AND SMART GRID APPLICATIONS OPEN THE DIGITAL HOME
Today’s smart phones and tablets have captivated consumers for their
personal communication and entertainment capabilities, and now, suppliers
of home control systems are leveraging these next-generation devices to
help consumers control and manage the equipment in their homes.
After years of sluggish developments, leveraging the new mobile devices
and platforms, homeowners are finally being given the proper tools to
access and control their light, heating, air conditioning and more via the
Internet, irrespective of their physical location.
Exhibit 7 – Intel Home Dashboard
Source: Intel
Furthermore, as AMI deployment continues to fuel smart grid growth,
companies including Cisco, GE, Intel, and Microsoft are creating consumer
energy management solutions that integrate with the smart grid
infrastructure. Many of these suppliers have enabled their solutions for use
on everyday consumer devices. As shown below, the GE Nucleus software
is enabled for access from any browser-enabled phone or PC.
Exhibit 8 – GE Nucleus Software
Source: GE
TMT PREDICTIONS 2011
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GP Bullhound LLP January 2011
Start-ups to lookout for:
Bellevue, WA, USA
Morristown, NJ, USA
Ottawa, Canada
Evanston, IL, USA
PRIVACY BECOMES A PRIORITY FOR SOCIAL NETWORK USERS
Social networks have undoubtedly become an integral part of the Internet
experience, overtaking search engines as the primary site through which
people access the Internet in 2010. As shown below, our actual networks
are significantly more complex than those currently reflected on Facebook.
Exhibit 9 – Facebook Social Graph
Source: Forrester
As our digital relationships continue to grow in depth and reach, privacy
amongst our relationship pools will play an increasingly important role in the
social web.
In today’s competitive job market, a growing number of employers and
recruiters are employing searches on social networks and search engines
to research potential candidates. According to the AOL Technology Blog,
Switched.com, “78 percent of recruiters and HR professionals use search
engines to research applicants. 63 percent use social networking sites and
59 percent turn to photo and video sharing sites like YouTube or Flickr.”
Further, many corporations have established dedicated groups to monitor
employees’ Facebook presence.
Accordingly, social network “cleaning” services have recently gained
momentum. As social networks quickly become the primary channel for
personal communication, it is increasingly important for users to have full
clarity surrounding the access given and content present on their social
profiles.
Eventually, we anticipate the need for privacy will drive users to separate
their social networks into core life functions, such as friends, family,
colleagues, etc., thereby rerestricting messages and status updates to each
applicable groups.
TMT PREDICTIONS 2011
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GP Bullhound LLP January 2011
Start-ups to lookout for:
Loveland, US
Bitterfeld-Wolfen, Germany
Santa Clara, US
San Jose, US
Frankfurt, Germany
THIN FILM MAKES A COMEBACK AND VCS START TO EXIT TO STRATEGICS IN DROVES...
Having been around since the mid-eighties, thin film PV technologies only
had their first significant breakthrough about a decade ago as the industry
was looking for next-gen technologies to replace the maturing c-Si. Large
amounts of venture capital investment went into the promising new
technologies such as CIGS, CdTe and a-Si. In the last few years, thin film
companies have largely disappointed the market by not being able to
improve conversion efficiency and to scale down its cost structure as
quickly as originally anticipated.
However, we have recently observed several critical trends suggesting that
thin film might be staging a late comeback. Firstly, silicon prices which have
been steadily falling are on their way up again, driven by increasing supply
constraints. Polysilicon, the raw material in c-Si cells, still represents a
meaningful portion of the total manufacturing cost.
We are also detecting increased interest recently in thin film by industrial
companies who understand the potential and have much to offer in terms of
manufacturing expertise and deep pockets. Companies such as GE, Saint-
Gobain, Hyundai, TSMC and Walsin have all recently announced strategic
alliances, investments and/or acquisitions into the thin film sector.
Many of the inherent thin film advantages remain intact and have proven
their value as the market has matured. CIGS and a-Si are lighter, flexible
and more aesthetic than c-Si and as such are appealing solutions for the
BIPV segment.
Exhibit 10 – Historic and Projected Polysilicon Pri ces
5970
94
6070
0
20
40
60
80
100
2006A 2007A 2008A 2009A 2010E
US
$ pe
r kg
Source: GP Bullhound
With more than 150 individual thin film companies in thin film, we predict
massive consolidation driven by the entry of industrial players with their
capital and manufacturing might.
We believe VCs will need to realign their expectations as returns are likely
to disappoint. Unlike the chip sector which provided VC style returns
supported by Moore’s Law, the solar sector has natural efficiency ceilings
and cost floors and as such improvements are in steps rather than bounds.
Hence, risk capital is more suited from strategic players that can take a
longer view on returns. VCs will use renewed momentum to get out of these
investments as they will not be able to continue to support the capital
intensive nature of this industry.
TMT PREDICTIONS 2011
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GP Bullhound LLP January 2011
Start-ups to lookout for:
Palo Alto, US
Bellevue, US
Aliso Viejo, US
San Francisco, US
Los Angeles, US
Paris, France
GAMING MOVES INTO THE CLOUD
Following the massive and sudden upsurge of casual and social gaming
over the last two years, the interactive entertainment industry continues to
move into the cloud. Whether it is called cloud gaming, server-based
gaming, game-on-demand, or game-as-a-service, we expect this new
delivery method to gain significant traction in 2011. Companies like Onlive,
Steam or Gaikai have successfully launched their service and pose a
serious threat to the long-lasting console vendors’ oligopoly. Pressured by
gaming publishers and developers (keen to reduce development and
porting costs), platform vendors like Nintendo, Microsoft and Sony face
unprecedent challenges and will likely have to reinvent their business
models.
Exhibit 11 – Cloud Gaming vs. Traditional Gaming Ec osystem
Console Gaming Environment
PlatformVendors
Wii / DS
Xbox 360
PS3 / PSP
iPhone / iPad
GamingContent
1st Party Publishers
3rd Party Publishers
etc.
Distribution
Retail Distribution
etc.
Digital Distribution
Cloud Gaming Environment
Providers GamingContent
3rd PartyPublishers
Independentself-published
developers
Distribution
� Subscription-
based
� Per-game
download
� Time-based
All Digital
Source: GP Bullhound
Using powerful compression technology, cloud gaming enables gamers to
stream content in real-time from centralised servers while providing access
to extended libraries of premium gaming content across a variety of genres
on both a PC or a Mac through either a Web-browser or a micro-TV
adapter. As opposed to the platform-led gaming environment, cloud gaming
companies provide a pervasive single entry-point to interactive
entertainment combined with both flexible and attractive pricing models.
Certain independent developers like Valve Software launched Steam (c. 25
million subscribers) a cloud platform which distributes digitally both
proprietary and third-party content.
Non-traditional gaming players such as carriers see in cloud gaming the
potential to drive additional revenues while reducing subscribers churn.
SFR recently launched a commercial IPTV games-on-demand service
using their existing set-top box for playing games. In November 2010,
Portugal Telecom launched Meo Jogos, a gaming-on-demand service
powered by Playcast Media, as part of their triple-play offering. The service
is only available on PCs running Microsoft Windows.
Although there is still some sceptism about whether these systems can
deliver a high-quality gaming experience in massive demand situations, we
expect console gaming as we know it to disapeear either with this current
console cycle or the next. We believe the focus will continue to shift away
from the actual hardware to the network.
TMT PREDICTIONS 2011
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GP Bullhound LLP January 2011
Start-ups to lookout for:
San Francisco, US
New York, US
New York, US
San Francisco, US
London, UK
San Francisco, US
New York, US
SHORT MESSAGING FORMAT WILL GAIN WIDER SUPPORT AND MOMENTUM
If Facebook confirmed its immense potential in 2010, 2011 might well be
the year of Twitter in the context of an increased use of short messaging
format on the Internet, at the expense of blogs and long format emails.
Exhibit 12 –Twitter’s Follow-Buttons and Tweet-Butt ons Flourish on the Web
Source: GP Bullhound, Twitter
Driven by a data, information and communication overflow, Internet and
mobile users will increasingly rely on short messaging format to easily
share their thoughts, locations, articles, videos and invites… Twitter and
live news feeds in other social networks such as Facebook or LinkedIn are
today the most popular platforms. Like in the past you used to call a friend,
in 2011 you will use your smartphone to tweet and start a discussion with
the same friends but also with a list of followers you often merely know.
This trend will have a negative impact on the number of blogs and personal
websites as well as on the press and public relations sectors. To share
personal opinion or important news to a large audience, Twitter and
equivalent platforms such as Yammer or Tumblr will increasingly be a
viable alternative (e.g. details of Prince William’s wedding have been made
public on Twitter instead of a traditional press release via traditional media).
Blog articles, longer to write, will predominantly be expert views based on a
detailed analysis. For less formal and straight-to-the-point ideas, shorter
messages will be preferred.
Exhibit 13 – Twitter can also easily be integrated within Blogs via Widgets
Source: GP Bullhound, Bloggerbuster.com
In professional environments, technology and policy will enforce people’s
choice of shorter format messaging in internal communications. As e-mail
tends to take too long to respond to and can suffer inbox overflow,
companies will be encouraged to implement policies favouring getting faster
at responding such as short messaging.
A new approach to handle emails detailed on http://two.sentenc.es/
suggests treating email responses just like SMS by using a limited number
of letters and sentences per email. This way, emails become faster to write
and more likely to be read with the recipient feeling less intimidated than in
front of a long and well-structured email.
TMT PREDICTIONS 2011
12
GP Bullhound LLP January 2011
Start-ups to lookout for:
Redwood City, US
Chicago, US
Fort Washington, US
London, UK
Berlin, Germany
A NEW GENERATION OF BUSINESS INTELLIGENCE AND DATA ANALYTICS CONSUMER APPS WILL EMERGE
The proliferation of mobile and converged consumer applications generates
terabytes of new data a day. Overwhelmed by the amount of information
available to them, business managers acknowledge the urgent need for
next-generation data analytics applications. Such solutions should provide
C-level executives with real-time support and analysis which will in turn help
them predict consumer behaviours more accurately.
Large volumes of data generated by technology users create a fundamental
need for advanced business intelligence and analytics. While increasing
data volumes account for a significant part of the focus, the complexity of
data relationships and the rate at which it is being updated have also driven
demand for real-time processing analytics.
Over the last 12 months, a number of social BI vendors such as Crowdcast,
Sprout Social, ListenLogic and Trampoline Systems have gained significant
traction in the market. We expect, further VC-backed companies to emerge
in the sector during the course of 2011.
Sprout Social provides a social relationship management platform that
allows businesses to connect to customers and monitor key performance
indicators. Sprout Social integrates seamlessly with social networks such
as Facebook, LinkedIn, Twitter and provides lead generation, BI, promotion
distribution services, brand monitoring analytics.
Crowdcast is a social business intelligence vendor that provides an on-
demand / SaaS platform which enables decision-makers to forecast
industry trends, sales and regulatory factors. The company has announced
partnerships with SAP BOBJ, Brightidea and Peer Insight.
ListenLogic is a social market research and analytics company that
leverages online consumers’ opinion to help businesses identify new
opportunities, better understand consumer behaviours, develop marketing
strategies, provide crisis managament support, etc.
Exhibit 14 – Next-Gen Business Intelligence Solutio n Structure
Data Layer
Profile / Identity Information
Social Network Information
Location-Based Information
BehaviourInformation
Analytics Layer
Quantify Results
Lower Acquisition Costs
Increase Loyalty / Repeatability
Increase Conversion Rates
Discover and Map New Market Segments
Increase Reach
Real-Time Monitoring Predictive AnalysisData Processing
Capabilities(Speed & Volume)
SaaS
Benefits
Source: GP Bullhound
TMT PREDICTIONS 2011
13
GP Bullhound LLP January 2011
THE GP BULLHOUND TEAM
GP Bullhound is a research-centric investment bank headquartered in
London, with offices in San Francisco.
Hugh CampbellFounder / PartnerCitibank,Goldman Sachs
Guillaume BonnetonPartnerJefferies International,Deutsche Bank
Frank SchmittDirectorUBS, Arma Partners
Amanjit DhamiAssociateUBS
Helene JonssonAssistantKaplan Financial
Cecilia RomanDirector of MarketingArthur Andersen,Morgan Stanley
Manish Madhvani Founder / PartnerBarclays PE
Lord Clive HollickPartnerKKR, ProsiebenNielsen, Diageo
Claudio AlvarezVice PresidentEdison InvestmentExecution Ltd
Remy ValetteAssociateSociété Générale
Eve LimAssistantNEA
Rakhdeep DhaliwalFinancial ControllerSevacare
Christian LagerlingFounder / PartnerBarclays Capital,BZW
Graeme BayleyPartner / CFO & COOHSBC
Julien OussadonVice PresidentArma Partners,Société Générale
Justine ChanAssociateHarris Williams
Nataly BeanReceptionistSuper Yacht Cup
Lina EinarssonEvents ManagerIndigoferaKempinski
Martin SmithNon-exec ChairmanCSFB/DLJ, New Star
Alec DaffernerPartner / Head of USUBS, Volpe Brown W.
Antony NorthropSenior AdvisorLazard, Touchstone
Carl BergholtzVice PresidentJefferiesInternational
Sofie EmtesjoAssistantLansdowne Partners, Accenture
Florent RouletAnalystBofA Merrill Lynch,Bryan Garnier
Per RomanFounder / PartnerAutoDesk,Lehman Brothers
André ShortellPartnerCitibank
Mats JohanssonSenior AdvisorFuturemedia plc, Thursley Group
Sasha AfanasievaAssociateMerrill Lynch
Sofia SturessonAssistantOfcom
Malcolm FergusonAnalystBofA Merrill Lynch
Registered office: GP Bullhound LLP, 52 Jermyn Street, London, SW1Y 6LX http://www.gpbullhound.com, [email protected], +44 20 7101 7560 GP Bullhound LLP is or has been engaged as an advisor in the past twelve months to the following companies mentioned in this report: Calyxo, Mobcast and Neomobile.
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