Uber, Inc. Investment Briefing Deck

August 2008

– Confidential –

2– Confidential –

Executive Summary

• SPE has the opportunity to invest $1MM for a convertible note in an emerging digital publishing and platform company, Uber.com

– Combines unique, easy-to-use publishing tools with a destination to discover content

– Building off existing user base and expanding business models and use cases

– Total bridge financing of $2MM; last equity round of $5.5MM in Q1 at value of $19.5MM

• SPE would also benefit through a direct relationship with company and management

– Potential for SPT to sell ad inventory on Uber.com

– Promotional opportunities through free fan site

– Linkages with Crackle.com and other SPE sites

– Management team and advisory board has deep media and technology experience

• Risks to the investment are partly offset by deals terms & structure

– Converting at a discount and seniority over any follow-on debt help mitigate financial risk

– Legal risk from UGC minimized by minority investor status and having UMG as investor

– Additional analysis to be completed as part of diligence

3– Confidential –

Overview of Uber.com

• New media platform combining art and engineering to provide users with simple yet robust web-publishing tools

– Targets both prosumers and professionals

– Service differentiated based on ease-of-use and artistic sensibility

– Enables multi-media publishing (photos, videos, audio) to websites, profile pages, blogs

• Recently productized offerings and beginning to expand user base and use cases

– Currently 2MM unique users with thousands of web sites operational

– Leveraging social media (e.g., Facebook) and fan-based sites to drive growth

– Diversifying revenue streams beyond advertising to include e-commerce & subscriptions

• Strong media and technology management and financial backing

– Scott Sassa (CEO) is former President of NBC Entertainment and has previous experience with new media start-ups (Friendster)

– Universal Music Group and Discovery are major investors and on advisory board

• Looking to raise $2MM in bridge financing between equity rounds

– Other $1MM convertible note already committed by UMG and Sterling Stamos Co.

– Last round of $5.5MM at $19.5MM valuation closed in Q1; expecting C Round by EOY

– Most recent comparable transaction was purchase of Nexo by Shutterfly for $15MM

4– Confidential –

Business Model and Growth Opportunities

Business Models Growth Opportunities

Advertising• Aggregate inventory across sites and organize

based on category• Special interest verticals to drive premium

CPMs

Subscriptions• Premium tiers offering additional features• Custom URLs without advertising and

development tools for specific market segments

Partnerships• Enable partners to build-out social functionality• Generate additional distribution / traffic

E-Commerce• Provide turnkey storefronts to allow users to sell

products from their websites• Uber to charge set-up fee plus % of transaction

Core Business• Continued growth in prosumers and

professionals seeking low cost / high-quality, multi-media website solutions

Expansion Potential• Social Media: Provide tools to 3rd party sites for

users to customize their pages– Social networks (Facebook), photo sharing,

auction sites, dating sites– Photobucket/MySpace was an early example

• Fan Sites & Contests: Capitalize on power of fans and further engage audience by giving tools & incentives to create their own fan sites

– Jonas Brothers biggest fan contest– TV show and film fan sites often generate

more traffic than “official” sites

5– Confidential –

($1,000)

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

J uly '08

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Feb'09

Mar'09

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Cash Flow Forecast

Estimated Cash on Hand ($000s)

As Forecast

Worst Case

• $2MM bridge loan takes company through April ’09 w/out any further financing

• C-round of at least $4MM expected by EOY; providing enough cash until company becomes cash-flow positive in December ‘09

• If monthly cash burn rate remains at average historical levels ($600k), additional funding beyond $2MM bridge loan will be required by December

• If monthly cash burn does not improve, $4MM raise in December will only carry the company through July ‘09

Estimated C round of at least $4MM

$2MM bridge financing

6– Confidential –

Deal Terms & Next Steps

• $1MM convertible note with 1 year to maturity

• Interest at 6% compounded annually

• Coverts at discount (20%) to next equity round

• MFN relative to all previous and next round of investors

• Seniority to all subsequent debt

Basic EquityTerms

AdditionalUpside

• SPT to have first right of negotiation for ad sales on Uber sites

• Option for SPE to run fan site / contest (or comparable promotion) for theatrical title or TV show

• Option for Crackle to be cross-promoted on Uber sites and Crackle content to be available in Uber’s search functionality

NextSteps

• Have agreed at high-level on non-binding term sheet

• Expecting to have final equity documents fully negotiated by the end of August

• Will follow-up with RAD once all material terms have been finalized and diligence completed

7– Confidential –

Example Fan Site

• Unique and compelling opportunity to engage with existing fan base

• Fan created websites are ranked and shared with community

• Strong promotional value for SPE titles (theatrical and DVD release) and TV shows

• Potential integration with Crackle and use on other SPE sites

8– Confidential –

Potential Risks and Mitigations

Risks Mitigations

• Company thinly capitalized

• Fixed assets not sufficient to cover existing, senior debt ($600k)

• Site leverages user generated content and could be exposed to copyright violations

• Risks to be further evaluated by SPE Legal as part of due diligence

• As an investor and advisory board member, UMG provided early validation of Uber approach

• Minority investor status limits shareholder liability

• Continued support from financial and strategic investors

– UMG and Sterling Stamos re-upping• Superior terms to equity

– Note coverts at 20% discount to next round– Note senior to subsequent debt issuance

• In-kind value in addition to cash value– ROFN on ad sales– One free fan site / campaign– Ad inventory

Fin

anci

alL

egal

• Limited tax diligence completed

• Global Tax Office to further evaluate risks as part of due diligence

• Current expectation is that this is not a taxable eventT

ax

9– Confidential –

Appendix

10– Confidential –

Traffic Trends and Revenue Forecasts

2,370

736

5,300

0

1000

2000

3000

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6000

Jun'07

Jul'07

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Jan'08

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June '08

July '08

Aug '08

Sept '08

Oct '08

Nov '08

Dec '08

Jan '09

Feb'09

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Apr'09

May'09

Jun'09

Unique User Growth (000s)Actual Forecast

$7$0

$249

$0

$50

$100

$150

$200

$250

J un'07

Jul'07

Aug'07

Sep'07

Oct'07

Nov'07

Dec'07

Jan'08

Feb'08

Mar'08

Apr'08

May'08

June '08

July '08

Aug '08

Sept '08

Oct '08

Nov '08

Dec '08

Jan '09

Feb'09

Mar'09

Apr'09

May'09

Jun'09

Revenue Growth ($000s)Actual Forecast

11– Confidential –

Cap Table

Current CapitalizationInvestment Shares Ownership

Common Stock 4,555,000 34.8%Series A Preferred Stock 3,550,290 27.1%Series B Preferred Stock 3,022,543 23.1%Common Warrants 0.0%Series A Warrants 31,627 0.2%Options and SPRs Issued and Outstanding 1,823,388 13.9%Committed for Issuance - 2006 Stock Plan 0.0%Unissued Reserve - 2006 Stock Plan 121,612 0.9%Common CPN 0.0%

Total 13,104,460 100.0%

Marjor InvestorsDiscovery Communications, LLC $1,499,999 789,473 6%Kaino, Glenn $2,275 2,275,000 17%Sassa, Scott $2,275 2,275,000 17%Sterling Stamos $3,257,008 1,845,015 14%Universal Music Investments $3,257,008 1,845,015 14%

Subtotal $8,018,564 9,029,503 69%

All Others 4,074,957 31%

Total 13,104,460 100%

Note: Shares and ownership % on fully-diluted basis

Analysis of SPE Ownership Position ($000s)

Principal + Accrued Interest $1,030Discount 20%

Pre-Money Valuation $10,000 $12,000 $14,000 $16,000 $18,000 $20,000SPE Ownership 13% 11% 9% 8% 7% 6%

Note: SPE ownership % indepdent of amount raised on pre-money basis

12– Confidential –

Detailed Cash Flow Forecasts

Worst Case Burn Rate: With C-round

Mgmt Burn Rate: With C-Round

Worst Case Burn Rate: Without C-Round

Mgmt Burn Rate: Without C Round

Worst Case

($000s) Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09

Cash on Hand $1,576 $980 $2,383 $1,786 $1,188 $591 ($7) ($605) ($1,204) ($1,803) ($2,402) ($3,001) ($3,601) ($4,201) ($4,801) ($5,402) ($6,003) ($6,604)Monthly Burn ($597) ($597) ($597) ($597) ($598) ($598) ($598) ($599) ($599) ($599) ($599) ($600) ($600) ($600) ($601) ($601) ($601) ($602)Investment $0 $2,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Ending Cash $980 $2,383 $1,786 $1,188 $591 ($7) ($605) ($1,204) ($1,803) ($2,402) ($3,001) ($3,601) ($4,201) ($4,801) ($5,402) ($6,003) ($6,604) ($7,206)

2008 2009

Worst Case

($000s) Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09

Cash on Hand $1,576 $980 $2,383 $1,786 $1,188 $591 $3,993 $3,395 $2,796 $2,197 $1,598 $999 $399 ($201) ($801) ($1,402) ($2,003) ($2,604)Monthly Burn ($597) ($597) ($597) ($597) ($598) ($598) ($598) ($599) ($599) ($599) ($599) ($600) ($600) ($600) ($601) ($601) ($601) ($602)Investment $0 $2,000 $0 $0 $0 $4,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Ending Cash $980 $2,383 $1,786 $1,188 $591 $3,993 $3,395 $2,796 $2,197 $1,598 $999 $399 ($201) ($801) ($1,402) ($2,003) ($2,604) ($3,206)

2008 2009

Mgmt Case

($000s) Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09

Cash on Hand $1,576 $1,036 $2,698 $2,363 $1,925 $1,604 $1,170 $863 $575 $269 $24 ($209) ($535) ($697) ($797) ($849) ($955) ($891)Monthy Burn ($540) ($338) ($335) ($438) ($320) ($435) ($306) ($288) ($306) ($244) ($234) ($325) ($162) ($100) ($51) ($106) $64 ($37)Investment $0 $2,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Ending Cash $1,036 $2,698 $2,363 $1,925 $1,604 $1,170 $863 $575 $269 $24 ($209) ($535) ($697) ($797) ($849) ($955) ($891) ($928)

2008 2009

Mgmt Case

($000s) Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09

Cash on Hand $1,576 $1,036 $2,698 $2,363 $1,925 $1,604 $5,170 $4,863 $4,575 $4,269 $4,024 $3,791 $3,465 $3,303 $3,203 $3,151 $3,045 $3,109Monthy Burn ($540) ($338) ($335) ($438) ($320) ($435) ($306) ($288) ($306) ($244) ($234) ($325) ($162) ($100) ($51) ($106) $64 ($37)Investment $0 $2,000 $0 $0 $0 $4,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Ending Cash $1,036 $2,698 $2,363 $1,925 $1,604 $5,170 $4,863 $4,575 $4,269 $4,024 $3,791 $3,465 $3,303 $3,203 $3,151 $3,045 $3,109 $3,072

2008 2009

13– Confidential –

Balance Sheet

Balance SheetJune '08 (Actual)

Current AssetsCash $1,576,140Account Receivabe $17,484Prepaid Expenses $287,087Total $1,880,711

Fixed AssetsProp & Equipment $1,283,761Accumulated Dep and Amort ($558,549)Total $725,212

Other Assets $6,000

Total Assets $2,611,923

Current LiabilitiesAccounts Payable $77,330Accrued Liabilities $255,498Bridget Loan $0Total $332,828

Line of Credit $663,261

Total Liabilities $996,089

EquityCommon Stock-Par $7,250Series A Convertible Preferred $5,931,947Series B Convertible Preferred $5,693,634Total Capital Stock $11,632,831Net Income ($10,016,995)

Total Equity $1,615,836

Total Liabilities & Equity $2,611,925

14– Confidential –

2007 - 2009 P&L

2007 ActualsJan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Total

Unique Users 33 375 359 439 742 736 1,000 1,208 1,190 1,249 1,485 1,681

RevenuesAdvertisingCommerce"Do it Yourself""Do it For Me"Total $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

COGS ($20) ($20) ($26) ($25) ($25) ($25) ($25) ($31) ($30) ($30) ($26) ($30) ($314)

OPEXStaff (incl rent, T&E) ($243) ($258) ($242) ($261) ($277) ($339) ($287) ($307) ($308) ($354) ($321) ($337) ($3,532)Consulting ($45) ($105) ($126) ($134) ($101) ($129) ($81) ($79) ($96) ($133) ($113) ($221) ($1,363)Total ($288) ($363) ($368) ($395) ($378) ($468) ($369) ($385) ($404) ($486) ($434) ($558) ($4,894)

EBITDA ($308) ($383) ($394) ($421) ($403) ($493) ($394) ($416) ($433) ($516) ($459) ($587) ($5,208)

2008 (Actual and Budget)Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Budget

Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Total

Unique Users 1,810 1,783 1,962 1,951 2,054 2,370 2,300 2,600 1,900 3,200 3,500 3,800

RevenuesAdvertising $3 $3 $6 $7 $8 $7 $9 $15 $19 $24 $30 $36 $167Commerce $0 $1 $3 $7 $12"Do it Yourself" $0 $1 $3 $7 $11"Do it For Me" $1 $5 $13 $19Total $3 $3 $6 $7 $8 $7 $9 $15 $20 $28 $41 $62 $209

COGS ($36) ($31) ($30) ($30) ($30) ($30) ($30) ($30) ($30) ($30) ($30) ($30) ($363)

OPEXStaff (incl rent, T&E) ($371) ($309) ($327) ($322) ($348) ($309) ($454) ($225) ($225) ($225) ($225) ($225) ($3,565)Consulting ($172) ($164) ($159) ($153) ($136) ($141) ($134) ($66) ($66) ($66) ($66) ($155) ($1,479)Total ($544) ($473) ($486) ($475) ($484) ($450) ($588) ($291) ($291) ($291) ($291) ($380) ($5,044)

EBITDA ($577) ($501) ($510) ($497) ($506) ($472) ($609) ($306) ($301) ($293) ($280) ($348) ($5,199)

2009 ForecastJan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Total

Unique Users 4,050 4,300 4,550 4,800 5,050 5,300 5,500 5,800 6,050 6,300 6,550 6,800

RevenuesAdvertising $39 $42 $45 $47 $50 $53 $56 $59 $62 $65 $67 $70 $655Commerce $11 $15 $20 $26 $33 $40 $48 $57 $66 $77 $87 $100 $577"Do it Yourself" $11 $15 $22 $29 $37 $46 $56 $68 $81 $95 $110 $127 $695"Do it For Me" $23 $34 $49 $66 $87 $110 $136 $166 $200 $237 $276 $321 $1,706Partnership $0 $1 $1 $1 $1 $1 $1 $1 $1 $2 $2 $2 $13Total $84 $107 $136 $169 $207 $249 $297 $351 $410 $475 $542 $619 $3,646

COGS ($42) ($44) ($46) ($49) ($52) ($54) ($58) ($60) ($64) ($68) ($70) ($73) ($679)

OPEXStaff (incl rent, T&E) ($225) ($225) ($225) ($225) ($225) ($314) ($225) ($225) ($225) ($225) ($225) ($352) ($2,915)Consulting ($75) ($75) ($75) ($75) ($93) ($93) ($93) ($75) ($75) ($75) ($75) ($75) ($956)Total ($300) ($300) ($300) ($300) ($318) ($407) ($318) ($300) ($300) ($300) ($300) ($427) ($3,871)

EBITDA ($258) ($237) ($210) ($180) ($162) ($212) ($78) ($9) $46 $107 $172 $118 ($904)

15– Confidential –

2007 P&L

2007 ActualsJan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Total

Unique Users 33 375 359 439 742 736 1,000 1,208 1,190 1,249 1,485 1,681

RevenuesAdvertisingCommerce"Do it Yourself""Do it For Me"Total $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

COGS ($20) ($20) ($26) ($25) ($25) ($25) ($25) ($31) ($30) ($30) ($26) ($30) ($314)

OPEXStaff (incl rent, T&E) ($243) ($258) ($242) ($261) ($277) ($339) ($287) ($307) ($308) ($354) ($321) ($337) ($3,532)Consulting ($45) ($105) ($126) ($134) ($101) ($129) ($81) ($79) ($96) ($133) ($113) ($221) ($1,363)Total ($288) ($363) ($368) ($395) ($378) ($468) ($369) ($385) ($404) ($486) ($434) ($558) ($4,894)

EBITDA ($308) ($383) ($394) ($421) ($403) ($493) ($394) ($416) ($433) ($516) ($459) ($587) ($5,208)

16– Confidential –

2008 P&L

2008 (Actual and Budget)Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Budget

Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Total

Unique Users 1,810 1,783 1,962 1,951 2,054 2,370 2,300 2,600 1,900 3,200 3,500 3,800

RevenuesAdvertising $3 $3 $6 $7 $8 $7 $9 $15 $19 $24 $30 $36 $167Commerce $0 $1 $3 $7 $12"Do it Yourself" $0 $1 $3 $7 $11"Do it For Me" $1 $5 $13 $19Total $3 $3 $6 $7 $8 $7 $9 $15 $20 $28 $41 $62 $209

COGS ($36) ($31) ($30) ($30) ($30) ($30) ($30) ($30) ($30) ($30) ($30) ($30) ($363)

OPEXStaff (incl rent, T&E) ($371) ($309) ($327) ($322) ($348) ($309) ($454) ($225) ($225) ($225) ($225) ($225) ($3,565)Consulting ($172) ($164) ($159) ($153) ($136) ($141) ($134) ($66) ($66) ($66) ($66) ($155) ($1,479)Total ($544) ($473) ($486) ($475) ($484) ($450) ($588) ($291) ($291) ($291) ($291) ($380) ($5,044)

EBITDA ($577) ($501) ($510) ($497) ($506) ($472) ($609) ($306) ($301) ($293) ($280) ($348) ($5,199)

17– Confidential –

2009 P&L

2009 ForecastJan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Total

Unique Users 4,050 4,300 4,550 4,800 5,050 5,300 5,500 5,800 6,050 6,300 6,550 6,800

RevenuesAdvertising $39 $42 $45 $47 $50 $53 $56 $59 $62 $65 $67 $70 $655Commerce $11 $15 $20 $26 $33 $40 $48 $57 $66 $77 $87 $100 $577"Do it Yourself" $11 $15 $22 $29 $37 $46 $56 $68 $81 $95 $110 $127 $695"Do it For Me" $23 $34 $49 $66 $87 $110 $136 $166 $200 $237 $276 $321 $1,706Partnership $0 $1 $1 $1 $1 $1 $1 $1 $1 $2 $2 $2 $13Total $84 $107 $136 $169 $207 $249 $297 $351 $410 $475 $542 $619 $3,646

COGS ($42) ($44) ($46) ($49) ($52) ($54) ($58) ($60) ($64) ($68) ($70) ($73) ($679)

OPEXStaff (incl rent, T&E) ($225) ($225) ($225) ($225) ($225) ($314) ($225) ($225) ($225) ($225) ($225) ($352) ($2,915)Consulting ($75) ($75) ($75) ($75) ($93) ($93) ($93) ($75) ($75) ($75) ($75) ($75) ($956)Total ($300) ($300) ($300) ($300) ($318) ($407) ($318) ($300) ($300) ($300) ($300) ($427) ($3,871)

EBITDA ($258) ($237) ($210) ($180) ($162) ($212) ($78) ($9) $46 $107 $172 $118 ($904)