ing trends, Priceline's leadership position in the global online travel sector, track record of EPS upside, and increased access to the China via the Ctrip investment. Bankof America 2 Internet/e-Commerce | 06 April2017 33 Merrill Lynch HOUSE_OVERSIGHT_014919 --- PAGE BREAK --- Snap (Neutral, $25 PO)

ndr, eVite. *Sukhinder Singh Cassidy*iz% Chm, JOYUS. Fmr CEO, Polyvore. Fmr President of Asia Pacific and Latin America, Google. Boards: TripAdvisor CTRIP) and Formspring. *Megan Smith*ig% VP Business Development, Google. Fmr CEO, PlanetOut. *charles **Songhurst*-- GM and Head of Strategy and M&A, Mi