leadership and a large TAM, but we do not believe 7% 2-yr expected revenue growth warrants a premium to peers. At the same time, we believe that the Google Capital investment could provide some downside support on take-out potential. Downside risks to our PO are 1) need to add more customers each year to grow g

investment. Equity Ownership: Global Bit participates in 15% of upside (GW receives 10%; other Global Bit employees receive 5%) after 10x return on Google Capital Alignment Provision: Maximum payout to reach 1.5% pro forma Google + Global Bit market cap Google Confidential and Proprietary EFTA00605653 Go

d Google Glass and is working on driverless cars. In January, the company made a $900 million investment in Elon Musk's SpaceX. In 2014, it started Google Capital to invest in later-stage technology companies. Maris's views on the intersection of technology and medicine fit in well here: Google has spent hund