EMAIL DETAILS

Your morning is pretty full - 8:15 Lea; 9:30 Metabiota; 11 AM meeting.

You could squeeze this in at 10:30 or after your 11AM meeting.

FYI Stiglitz is tomorrow at 2PM


On Mon, Mar 31, 2014 at 11:45 AM, Hunter Biden <hbiden@rosemontseneca.com>wrote:

>
>
> RHB
> 202.333.1880
>
> Begin forwarded message:
>
> *From:* Evan Haymes <evan@citizen.vc>
> *Date:* March 31, 2014 at 9:39:19 AM EDT
> *To:* Hunter Biden <hbiden@rosemontseneca.com>
> *Subject:* *Re: Jumio follow up*
>
> Hunter:
> Can we talk first think tomorrow, Tuesday, would that work for you?
> Welcome back, we just got back from some family fun in the sun, too.
> Best,
>
> Evan
>
>
> On Sun, Mar 30, 2014 at 7:40 PM, Hunter Biden <hbiden@rosemontseneca.com>wrote:
>
>> Hey buddy- back from vacation. Let's talk this week some time. I leave
>> for Europe Wed afternoon. Best, H
>>
>> RHB
>> 202.333.1880
>>
>> On Mar 28, 2014, at 1:47 PM, "Evan A. Haymes " <evan@citizen.vc> wrote:
>>
>> Hi Hunter:
>> Just off the line with Neil Callahan regarding the ID Authentication
>> platform for which we are doing a secondary offering. The company is called
>> Jumio. Per Neil, subject to your partners call on Monday we are hopeful to
>> present to your team on Wednesday afternoon. There maybe some biz dev
>> opportunities for your team down the line as well. See below for a summary
>> on the company. Hopeful that we can work on this one together.
>> Best regards,
>> Evan
>>
>> _____________________
>>
>> Evan A. Haymes
>>
>> evan@citizen.vc
>> (917) 690-9090
>>
>> Sent from my iPhone
>>
>> Begin forwarded message:
>>
>> *From:* Evan Haymes <evan@citizen.vc>
>> *Date:* March 27, 2014 at 11:40:55 AM EDT
>> *To:* Neil Callahan <ncallahan@rosemontseneca.com>
>> *Subject:* *Jumio follow up*
>>
>> Dear Neil:
>>
>>
>> I am eager to follow up with you on Jumio. I think it is a great way to
>> start transacting together. As we mentioned, we are running the book on a
>> tender offer for Jumio, Inc. the A16Z and Citi Ventures funded credentials
>> tech company. They were recently added to the SP100 list of top 100 private
>> companies in the world today. Jumio is a next generation credentials
>> management platform that utilizes computer vision to scan and validate
>> payment and ID credential. I think Will Lee, especially, would be very
>> interested in the technology. This is not a low margin customer facing
>> typical credit processing company like Square; rather Jumio is B2B and
>> thrives integrated into the checkout space of marquee clients like FB,
>> AirBNB, Travelocity, Equifax and others. My partner Emilio is an expert on
>> Jumio and the landscape. I think that this company is ideal for you based
>> on valuation, liquidity time line, revenue, cash flow, Mgmt Team / Board
>> and investor base. With companies like Square garnering a multi billion
>> dollar valuation I think this company is attractively valued. Please let me
>> know if you have time to chat early next week. See data points below.
>> Best, Evan
>>
>>
>>
>> *The Deal and Terms *
>>
>> Common Shares priced at $4.60 per share.
>>
>> There are 93,000,000 shares outstanding
>>
>> *$427,800,000 Valuation - secondary*
>>
>>
>> *Key Company Formation Information*
>>
>> *Incorporation: * February 9, 2010
>>
>> *Founder/CEO:* Daniel Mattes (Jajah/Telefonica)
>>
>> *Headquarters:* Palo Alto, USA
>>
>> *Dev Centers: **Palo Alto, Vienna, Austria, Moscow University
>> of Science and tech (11 professors) and Jaipur India dev center*
>>
>>
>>
>> *One Office in Jaipur*
>>
>> *103 people working as Document Experts, Supervisors, IT Operations and a
>> lot more to make 24/7 service possible ! Everyone there is doing an amazing
>> job.*
>>
>> *We started our partnership with Ankit Goyanka, managing director of
>> Goyanka Technologies LTD , in 2010 and it was a big success from the
>> beginning. Over the last years the company was crowing from 12 employees to
>> more than one 100 and became a very important part of Jumio and we decided
>> to join our forces.*
>>
>> *Offices:* Palo Alt & London
>>
>>
>> *Funding:* $40mm
>>
>> *Employees:* 100
>>
>> *Profitability: *Q2 2013
>>
>> *Key Investors:* Andreessen Horowitz, Citi Ventures & Eduardo
>> Saverin,
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>> *Why the company was founded - Thesis and Lessons learned at Jajah*
>>
>> · Criminals took advantage of new VoIP services to monetize stolen
>> credit card numbers
>>
>> · Jajah developed technology and processes to combat this fraud
>>
>> · Fraud controls and ID verification must be central to ecommerce
>> but are treated as an afterthought.
>>
>>
>>
>> *Management Team*
>>
>> · CEO & Founder - Daniel Mattes
>>
>> · COO - Thomas Kastenhofer
>>
>> · CFO & General Counsel - Chad Starkey
>>
>> · CTO - Thomas Willomitzer
>>
>> · CIO - Alexey Grubuer
>>
>> · CMO - Marc Barach
>>
>> · Chief Sales - Michael Orlando
>>
>> · Chief Security - Christian Schwaiger
>>
>> *Board of Director*
>>
>> · Daniel Mattes - Jumio
>>
>> · Thomas Kastenhofer - Jumio
>>
>> · Chad Starkey - Jumio
>>
>> · Scott Weiss - Andreseen Horowitz
>>
>> · Eduardo Saverin - Facebook CoFounder
>>
>> · Ramneek Gupta - (Board Observer from Citi Ventures)
>>
>>
>>
>> *Technology & Products*
>>
>> *Netswipe*
>>
>> · *Allows your laptop camera or camera off mobile device to scan,
>> validate and process a CC*
>>
>> · Low Switching Costs *ZERO Switching costs* as Netswipe has been
>> designed to layer on top of how merchants process payments today and
>> requires no new integration with their payment processor or gateway.
>>
>> o No Hardware or Dongles required for transaction to occur
>>
>> o SDK takes about 30 minutes to integrate into an application
>>
>> · Nearly two-thirds (66%) of consumers attempting to make mobile
>> purchases on their smartphone or tablet have been forced to abandon their
>> purchase during the payment process
>>
>> · Offering consumers an easier way to pay that helps to increase
>> conversion rates by *greater than* 20%
>>
>> · Allows a customer to fill out information for purchase in 2-*5
>> Seconds* compared to *2minutes*
>>
>> o Only 3% of Shopping carts complete a purchase on mobile compared to
>> 28% conversion on desktop
>>
>> · *Increases Revenue* ~18-33% more transaction completion
>> improvement (Travelocity example)
>>
>> · *Eliminates Fraud* - Results in decreased fraud rates by 67%
>> reported by EntroPay.
>>
>> o VISA soon to accept card images in chargeback remediation - *effective
>> as of April 2013*
>>
>> · *Increase Customer Satisfaction and Engagement*
>>
>> o Card scanning consumers view 2.5x *or better to say 52%more pages* per
>> session than key entry customers
>>
>> *Netverify*
>>
>> · Enabling sites or mobile app with Real-Time *ID AUTHENTICATIONand
>> Verification*
>>
>> · The old way is slow, expensive, inaccurate, inaccessible, and
>> unsecure
>>
>> · Netverify performs verification in *4.6s *on average. Traditional
>> takes *3 minutes to 14 hours using traditional methods.*
>>
>> .
>>
>> · Utilizes sophisticated fraud detection algorithms and can detect
>> pixel manipulation on IDs.
>>
>> · Developed for Web and Mobile
>>
>> · *Jumio Face Match*
>>
>> o Developed extremely accurate facial recognition matching techniques
>> to measure the degree of confidence that the person is the person on the ID.
>>
>> o Brings an additional authentication factor to the Netverify process.
>> In addition to asking customers to present a real credential Jumio now
>> compares the photo in the credential to the customer`s actual face. Use it
>> for all your transactions or just the higher risk ones.
>>
>> · ID Checking Capabilities better than human eye
>>
>> o Font comparison
>>
>> o Microprint analysis
>>
>> o Hologram check
>>
>> o MRZ code checks
>>
>> o Known forgery review
>>
>> o Layout & positioning check
>>
>> · *Reduces Fraud* - Actual and bona-fide ID must be present
>>
>> o Clients reporting that fraud rate have dropped from ~10% to under 1%
>>
>> · *Increases Transaction Completion*
>>
>> o Eliminates need to fax or mail ID in
>>
>> · *Increases Customer Satisfaction*
>>
>> *FastFill*
>>
>> · Fastfill is installed within an app and enables customers to scan
>> their own IDs to extract and automatically fill personal data fields on a
>> sign-up or checkout pages. Fast. Easy. Fun.
>>
>> · With Fastfill the process takes seconds rather than a 1 min or 2
>> as with traditional key entry
>>
>> · Financial institutions such as retail banks, online lenders,
>> insurance carriers and brokerage firms utilize Fastfill to expedite the
>> account opening process that customers execute on their mobile devices.
>>
>> *Security*
>>
>> · Jumio is PCI Level 1 compliant and regularly conducts security
>> audits, vulnerability scans and penetration tests to ensure compliance with
>> security best practices and standards.
>>
>> · To demonstrate PCI compliance a yearly on-site validation
>> assessment by a QSA is carried out.
>>
>> · Jumio carries the security controls established to achieve PCI
>> compliance over to PII data which is of comparable sensitivity and has
>> extended the scope of such controls to cover and protect all systems used
>> to transmit/process/store PII data
>>
>> *Competitive Landscape*
>>
>> · NetSwipe : *card.io
>> <https://t.yesware.com/tl/cd4936d554372b7b6c103a78926dcacc108ca901/c4962057fc28790f12845fb2fbc85b4a/68757d7a28e496d944d2917aebcb9593?ytl=http%3A%2F%2Fcard.io%2F>*
>>
>> o Was acquired by PayPal in July 2012
>>
>> o Less accurate and doesn't accept as many card types(eg. CUP, JCB)
>>
>> o Price: .05 - .10 per scan
>>
>> o Not featured as stand-along SDK
>>
>> · NetVerify : *IDchecker*
>>
>> o Verify ID from static image; upload only no real-time capture with
>> web camera
>>
>> o No mobile offering or SDK currently
>>
>> o All manual reviews which can take up to 14+ hours to complete
>>
>> o Price: $2 - $5 per scan
>>
>>
>> --
>> *_________________________________________*
>> Evan A. Haymes
>> Sr. Managing Director & Partner
>>
>> C i t i z e n . V C
>> New York | Palo Alto
>> 5 Penn Plaza, 14th Floor | New York, NY 10001
>> (d) (212) 862-4650 | (c) (917) 690-9090
>> evan@citizen.vc
>>
>> This e-mail and any attachments are intended only for the individual or
>> company to whom it is addressed and may contain information which is
>> privileged, confidential and prohibited from disclosure or unauthorized use
>> under applicable law. If you are not the intended recipient of this e-mail,
>> you are hereby notified that any use, dissemination, or copying of this
>> e-mail or the information contained in this e-mail is strictly prohibited
>> by the sender. If you have received this transmission in error, please
>> return the material received to the sender and delete all copies from your
>> system. Recipients should be aware that all emails exchanged with the
>> sender are automatically archived and may be accessed at any time by duly
>> authorized persons and may be produced to other parties, including public
>> authorities, in compliance with applicable laws.
>>
>>
>>
>
>
> --
> *_________________________________________*
> Evan A. Haymes
> Sr. Managing Director & Partner
>
> C i t i z e n . V C
> New York | Palo Alto
> 5 Penn Plaza, 14th Floor | New York, NY 10001
> (d) (212) 862-4650 | (c) (917) 690-9090
> evan@citizen.vc
>
> This e-mail and any attachments are intended only for the individual or
> company to whom it is addressed and may contain information which is
> privileged, confidential and prohibited from disclosure or unauthorized use
> under applicable law. If you are not the intended recipient of this e-mail,
> you are hereby notified that any use, dissemination, or copying of this
> e-mail or the information contained in this e-mail is strictly prohibited
> by the sender. If you have received this transmission in error, please
> return the material received to the sender and delete all copies from your
> system. Recipients should be aware that all emails exchanged with the
> sender are automatically archived and may be accessed at any time by duly
> authorized persons and may be produced to other parties, including public
> authorities, in compliance with applicable laws.
>
>
>


--
*Katie Dodge*
Executive Assistant/ Office Manager
*Rosemont Seneca Partners*
*1010 Wisconsin Ave., NW, #705*
*Washington, DC 20007*
*202-333-1880