Subject: Confidential Lyft Update
From: "John DeLoche" <[email-masked]>
To: "Devon Archer" <[email-masked]>, "Hunter Biden" <[email-masked]>, "William Lee" <[email-masked]>, "Neil Callahan" <[email-masked]>, "Eric Schwerin" <[email-masked]>, "Rob Walker" <[email-masked]>
Date: Fri, 28 Feb 2014 16:34:56 -0800

Guys,

Just got off the phone with Lyft. Coatue, Andreesen Horowitz and Mayfied
have committed $100mm of the $150mm round. There will be a first closing
next week. Coatue priced it at $700 pre.

We can get an allocation of up to $25mm. Will and I think this can be a
larger public company than Homeaway or Airbnb because this is a daily
consumer purchase vs a vacation-driven one. This could also be the future
of commuting.  It is also a facebook integrated app--every user has to have
a FB account, which is one of the reasons for the viral growth due to
network effects. It is not out of the question to think that FB may buy
them to add a significant revenue stream and diversify their revenue base.
I could see every college graduate in America who does not have another job
being a Lyft driver as a career right of passage.

I think a 3x plus is possible at this growth profile. On the merits I think
we will make money. I also think this is a marquee deal that would generate
a ton of LP interest and help us get to our $250mm goal.

IF we decide to go big here I want to make sure we are all on board and go
to the mat to raise whatever we think we can raise for this deal. It would
have to be on all of our front burners.

Please let me know your thoughts.

Best,

John

John DeLoche
*Managing Director*
Rosemont Seneca Technology Partners
333 Bush Street, 21st Floor
San Francisco, CA 94104
office: 415 767 1288
mobile: 415 793 7070

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