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alwayson venture summit east 2009 Program Guide
AlwaysOn
The Blogozine On Innovation – 05.09
ALSO:
Innovators Get
AlwaysOn-network.com
Lean and Green

/ page 4
The Return
of the Bull SecondMarket’s
/ page 8
platform for trading
Startups Fuel restricted assets
the Future
/ page 10 promises to
The 2009 reinvigorate the
AlwaysOn East venture marketplace.
Top Private /Page 28
Companies
/ page 28
Quenching
The Thirst for
Barry Silbert, Liquidity
CEO of SecondMarket,
2009 AlwaysOn East
100 Winner
&
CO-PRESENT
09
Meet the New Captains of Innovation

July 28th –30th, 2009
Stanford University, Palo Alto, CA
The 7th AlwaysOn & STVP Summit at Stanford, our editors will also honor the AO will also tune in and interact with the
Stanford is a two-and-a-half-day executive Global 250 Top Private Companies. Up to program. Executives attend The AlwaysOn
gathering that highlights the significant 50 technology CEOs will also pitch their & STVP Summit at Stanford to identify and
economic, political and commercial trends market strategies to a panel of industry debate emerging trends, build high-level
affecting the global technology industries. experts in our “CEO Showcase.” relationships and create new business
The AlwaysOn & STVP Summit at Stanford opportunities.
features the most innovative companies, Who Attends
eminent technologists, influential investors Seven hundred technology, media and
and journalists in keynote presentations, advertising CEOs, business development Early n
panel debates and private company CEO officers, media buyers, venture capital
Registrati o
showcases. The AlwaysOn & STVP Summit and private-equity investors, and leading
S ti ll Ava il a ble!
at Stanford’s goal is to identify the most members of the press and blogging Regis te r tO DAY
S p e cial
promising entrepreneurial opportunities and community will attend The AlwaysOn &
and get aount.
investments in the global tech industry. STVP Summit at Stanford. Thousands of Disc
At The AlwaysOn & STVP Summit at webcast viewers from over 100 countries please Visit .com
ngon
alwaysOn.goitails
for de
Contact Information
Sponsorship Information Program Information Tickets
To find out how your company can join our If you have feedback on our program If you want to order your ticket
distinguished group of sponsors, contact: or would like to suggest speakers or panel by phone or inquire about
topics, contact: group rates, contact:
Marc Sternberg
President & COO Arden Pennell Michelle Hughes
310-403-3330 arden@alwayson-network.com michelle@alwayson-network.com
marc@alwayson-network.com 917.499.8379 415.367.9538 ext 103
Past Speakers Included:
Jerry Yang, Founder, Yahoo! Todd Teresi, SVP, Publisher Channel, Yahoo!
Sergey Brin, Co-founder, Google Thomas Lesinski, President, Paramount Digital
Larry Page, Founder & President, Google Entertainment
Chad Hurley, Founder, YouTube Lance Tokuda, CEO, RockYou
Evan Williams, Co-founder, Twitter John McCain, Presidential Candidate and
Marc Benioff, Founder, Salesforce.com Senator (R-Arizona)
Niklas Zennström, founder & CEO of Skype Quincy Jones III, CEO, QD3 Entertainment
Ron Conway, Founder, SV Angels Chamillionaire, Grammy Award winning
Bill Gurley, General Partner, Benchmark Capital platinum recording artist
Steve Jurvetson, Managing Director, Draper
Fisher Jurvetson
Michael Greeley, General Partner, Flybridge
Capital Partners
CEO Showcase
Matt Murphy, Partner, Kleiner Perkins Opportunity
Geoff Yang, Redpoint Ventures Fifty top CEOs will have the opportunity to
Frank Quattrone, Qatalyst present their market strategies and business
William Quigley, Managing Director, Clearstone partnering objectives on the main stage at The
AlwaysOn & STVP Summit at Stanford. Quali-
Venture Partners fying companies are either public or privately
Shona Brown, SVP Business Operations, held and ideally come from one of the following
Google industry sectors:
Colleen Berube, Vice President Enterprise
Applications, Adobe Systems SaaS and Enterprise
Cormac Conroy, VP Engineering QCT Modem Cloud and Infrastructure
Technology, Qualcommm Wireless
Bob Iannucci, CTO, Nokia Consumer Internet
Doug Merritt, President of SAP Labs & Digital Media
Corporate Officer, SAP Greentech
Russ Daniels, VP and CTO, Cloud Services HP Enabling Tools and Devices
Rich Zippel, VP Technology Chief Technologist
For detailed information on the AO Global
Office, Sun Microsystems 250 nomination and selection process and
David Rivas, VP, Strategy & Business Dev, the CEO Showcase opportunity please con-
Software Platforms, Nokia tact us.
Frank Addante, CEO Rubicon, Project
Al Delattre, Global Partner, Accenture
John Faith, GM & VP, Mobile MySpace
Peter-Frans Pauwels, CTO, TomTom Stanford Summit Brand
Mike Montgomery, President, Montgomery & Sponsor Program
Co Sponsors gain brand exposure and
Paul Deninger, Vice Chairman, Jefferies & communicate their leadership positions to The
Company AlwaysOn & STVP Summit at Stanford live
Lise Buyer, Principal, Class V Group attendees and webcast audience through a
Kara Swisher, Co-Producer, D: All Things Digital powerful combination of video commercials,
e-marketing campaigns, print advertising,
Ripu Malhotra, Fossil Fuel R&D SRI on-site material distribution and signage, and
International program exposure. Brand sponsorship is open
Photography by Douglas Schwartz
Kathy Eisenhardt, Professor Management to technology, service and investment firms,

Science & Engineering, Stanford University and high-end consumer brands. To find out
how your company can join The AlwaysOn &
Tom Byers, Professor, Stanford University STVP Summit at Stanford’s distinguished
Albert Cheng, EVP Digital Media, ABC group of sponsors, contact:
For more information, visit AlwaysOn.GoingOn.com

Table of Content Venture Summit East 2009 Issue 17 May 2009
Features
04 Innovators Get Lean and Green
As Global Silicon Valley reinvents its place in the technology
community, smaller, more nimble companies will invariably emerge
to dominate the growth-investment market.
06 Tough Times Inspire Tomorrow’s Success

Entrepreneurs continue to embrace the innovation that has been—
and will continue to be—the key to our economy’s recovery and
success.
08 The Return of the Bull

East Coast companies are out the prove that the innovation economy
knows no boundaries and is limited only by the imagination.
10 Startups Fuel the Future

While the economy continues to be a challenge, startups are still the
best place for venture money, while company leaders remain bullish
on revenue.
Cover Story:
28 The 2009 AlwaysOn East 100
Top Private Companies
This year’s list embraces an East Coast startup community that’s
alive with vibrant and disruptive technology innovations.
/28
Program guide
12 Speakers
32 Sponsors
38 Affliate Partners
44 Program To become a member of the AlwaysOn
Network visit www.alwayson-network.com.
AlwaysOn AlwaysOn Magazine is published four times per year
04 Masthead by AlwaysOn Network, LLC, PO Box 620454, Woodside, CA 94062-

9813. Basic annual subscription price is $65 dollars (U.S.), Canadian
subscription price is $55 (U.S.), Foreign subscription price is $65 (U.S.)
POSTMASTER: Please send changes of address to: AlwaysOn, PO Box
620454, Woodside, CA 94062-9813. For editorial inquiries please
contact edit@alwayson-network.com. For advertising and partnership
inquiries please contact Kathy Osweiler at kathy@alwayson-network.
com or at 415.751.0170. For subscription inquiries please contact
subscriptions@alwayson-network.com. © 2009 AlwaysOn Network LLC.
All rights reserved. Reproduction without permission of the publisher is
expressly prohibited. To order back issues, please call 415-751-0170,
or email backissues@alwayson-network.com. Title is protected through
a trademark registration in the U.S. Patent Office. ISSN: 1555-5925
Cover photography by RJ Mickelson
2 | A LWAYSON | V E N TU R E SU M M I T EAST 2 0 0 9
40 MILLION
UNIQUE VISITORS WORLDWIDE
More People Get Their Business News from

Forbes.com Than Any Other Source in the World
Source: Omniture Worldwide Average Monthly Unique Visitors - October 2008, Forbes Digital Properties.
Publishing over 4,000 stories a day on a broad The Must-Buy Media for Reaching
range of business, technology, investing and Affluent Business Leaders.
lifestyle topics, Forbes.com is far and away the
leading destination for affluent business To maximize your ad dollars,
decision makers worldwide. please contact your local sales rep. or:
Never before has a media property offered Kevin Gentzel, Chief Advertising Officer,
massive reach to the business leadership
212-366-8907, kgentzel@forbes.net
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editorial coverage and the ability to target to key
market segments that Forbes.com and Forbes
Digital properties provides.
And we’ll guarantee the success of your

campaign with our Brand Increase Guarantees.
Source: Omniture, Adify, July 2008 for Forbes Digital Properties. Home Page for the World's Business Leaders
Welcome Letter Venture Summit East 2009 Masthead
Innovators
Get Lean
and Green
The Inside Team
Venture Summit East
2009
The Scribes
Tony Perkins
Matthew Bowman
Arden Pennell
Nicole Freeman
Ellen Andersson
Mubarak Zeb Khan
Jessica Chung
Editorial Advisors
Satjiv Chahil
Bill Cleary
Paul Deninger
Tim Draper
The AlwaysOn team and our sponsors cordially welcome you Michael Moe
Ed Ring
to our second annual Venture Summit East event. Joe Schoendorf
The Artists
Over the last year, Wall Street’s meltdown has rippled through the Global Arno Ghelfi, l’atelier starno
On-Point Video Productions
Silicon Valley. Company valuations have taken swan dive, and venture firms The Chiefs
and their limited partners have been forced to reshuffle their portfolios. Marc Sternberg
Claudio Barrientos
Fortunately, it appears that the combination of activist central governments Ryan Brenner
Nathan Entrekin
and agile corporate and entrepreneurial managers has helped divert the “five- Greg Gausewitz
Josh Scherman
year nuclear winter” prophesized by many. Nick Panvini
Jeremy Halpern
The investors and companies represented at Venture Summit East also represent the future. Our Michelle Hughes
Kathy Osweiler
culture of flat, merit-driven, globally minded organizations that share ownership and view “cash as Michael Pinochi
Nikki Heyder
king!” must be embraced by all growing and large companies. Large bureaucracies, unions, big
The Geeks
debts, and pension funds are all relics of the past. Nicole Freeman
Today, the expression “innovate or die” is increasingly more relevant across more industries than Carl Hughes
Matt Bowman
ever before—which plays directly into our competitive advantages. Companies from Madison Max Luster
Avenue to Hollywood must master the Internet to run their operations more efficiently and better Sponsors
Bridge Bank
market and sell their products and services. Business Wire
Cook Associates
In addition to running a “leaner” company, it is also the fashion to run a “greener” company. Last Draper Fisher Jurvetson
Emo Labs
year, greentech became the third largest category of venture investing. Entrepreneurs, many of Foley Hoag
Forbes
whom come from the Internet space, are opportunistically looking at how we do everything—from Goodwin Procter
J.P. Morgan
packaging and powering to building and transporting—and seeing how it can be done in a way that KPMG
LEWIS
is kinder to Mother Earth. After much experimentation, many great new green entrepreneurs and NASDAQ OMX
PlanetTran
companies will invariably emerge from our community. Revolution Partners
Ropes & Gray
The Venture Summit’s goal is to identify and debate these and other emerging trends in innova- SecondMarket
Shotspotter
tion-driven, growth-investment markets. To separate the real opportunities from the frothy ones, Silicon Valley Bank
we put the most influential entrepreneurial CEOs, institutional investors, venture capitalists, cor- Affiliate Sponsors
porate buyers, investment bankers, and research analysts on the main stage together to debate the BoogarLists
Boston Entrepreneurs’ Network (ENET)
significant economic, political, and technology trends impacting the global growth investor. Conference Guru
Evolution Advisors
We’re also hosting a series of six-minute CEO pitches from companies seeking later-stage capital The Executive Council
Larta Institute
or potential acquirers. These best-of-breed CEO Showcases are handpicked from the AlwaysOn Mass Information Technology
Exchange (MITX)
East Top 100 private company list and other qualified sources. Massinvestor
New England Clean Energy Council (NECEC)
On behalf of our sponsors and the entire AlwaysOn team, welcome to Boston. We look forward New England Venture Capital
Association (NEVCA)
to hosting you in a very innovative way over the next couple of days! New England Venture Network (NEVN)
Polachi
Stay in MA
TechAmerica
Tony Perkins is the founder and editor of AlwaysOn. The Capital Network (TCN)
The Tradeshow Coach
Venture Investors Association of New
York (VIANY)
Women in Technology International (WITI)
Between every business person’s
goals & accomplishments
There is a Bridge.
(The smarter way to get from here to there.)
The Smarter Banking Choice for Growing Technology Companies.®
PHONE: 1.866.BRDGBNK WWW.BRIDGEBANK.COM

Welcome Letter Venture Summit East 2009
Tough Times
Inspire Tomorrow’s
Success
Innovation is the key to our economy’s successful recovery.
On behalf of J.P. Morgan and AlwaysOn, I would like to welcome you to Venture Summit
East 2009. We are honored to welcome such a talented group of entrepreneurs, angels, VCs,
private investors, and strategic investors to participate in this extraordinary event. As we con-
tinue through this period of heightened economic uncertainty, we believe it is of utmost
importance to come together as a community and engage in strategic and open dialogue with
the common goal of continuing to fuel the innovation that has been, and will continue to be,
the key to the success of our economy.
Despite recent positive developments in the marketplace, including a number of select
IPOs, the liquidity crisis that faces the venture capital and entrepreneurial community
remains highly prevalent. However, history has shown us that it is during these times that
ground-breaking changes are made, and world-leading companies are founded. The opportu-
nity for innovative technology and ideas remains as high as ever. It is imperative that we use
the unique opportunity presented during the next three days to begin collaboration and con-
tinue to find ways to cultivate innovation, secure funding, enhance liquidity, and drive busi-
ness in a positive way.
At J.P. Morgan, we have worked hard to distinguish ourselves in our service to clients and
communities through this period of unprecedented uncertainty. We look forward to further
deepening our relationships across the entrepreneurial and investor communities and helping
our clients manage the many challenges we all continue to face every day. Thank you for join-
ing us at Venture Summit East. We look forward to working with you during the next three
days and in the future.
Michael Millman is the managing director for J.P. Morgan’s Equity Capital Markets division.
Michael can be reached at michael.millman@jpmorgan.com.
AlwaysOn, LLC
P.O. Box 620454
Woodside
CA, 94062
Alwayson-network.com
Volume 6, Issue 4
AO is dedicated to the Open Source
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PR with punch. If you want to knock out the competition, give your news releases more
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Welcome Letter Venture Summit East 2009
The Return
of the Bull
Innovation is limited only by the imagination.
After spending the past four months in Boston, I am pleased to say that entrepreneurship and
innovation is alive and well and living in Massachusetts. In truth, innovation knows no bound-
aries—neither distance nor time—and is limited only by the imagination.
While the pundits on Wall Street and CNBC would have us believe that the sky is falling,
value is always being created everywhere in the innovation economy. Those that are smart
enough to invest in the next Microsoft or Google today will be handsomely rewarded when the
tide turns. Once the waiting game is over and signs of a turnaround in the business cycle become
apparent, the stage will be set for the next boom. Liquidity will return, the financial markets will
forgive past indiscretions, and the bull will trample the bear yet again.
At Venture Summit East, we celebrate the business of innovation and the entrepreneurial
spirit, which is represented in our comprehensive conference program and the publication of our
AlwaysOn East 100 list of the most promising, private venture-backed companies on the East
Coast. We applaud the maverick VCs, who are betting on these companies to disrupt markets,
create jobs, and build value for their investors. In addition, our keynote speakers and panelists
will help form a consensus on the state of the venture-backed community today and where it is
going tomorrow.
Thank you to all our speakers, sponsors, and attendees who have contributed to making our
second annual Venture Summit East program a success.
I look forward to meeting you this week at Venture Summit East!
Marc B. Sternberg is the president and chief operating officer of AlwaysOn.
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The AlwaysOn and KPMG Survey Venture Summit East 2009
Startups
Fuel the Future
Early-stage companies are the best place
for new investment through 2010.
Venture Summit East in Boston is an opportunity for ven- holding steady or increasing during the remainder of 2009.
ture capitalists, entrepreneurs, industry professionals, Not surprisingly, a majority of our respondents expect
bankers, and analysts to gather and discuss the state of the 2009 to be a down year for investment. More than 60% of
industry. With the upheaval in the economy in the last respondents foresee a reduction in investment activity
year, we once again surveyed some key players to gauge nationally and in the northeast U.S. The greentech sector
their views on the current situation and venture capital’s continues to be the big winner, with 62% of respondents
future prospects. expecting increased investment nationally and 73%
The responses indicate that the economy will impact the expecting the same in the northeast.
capital marketplace for the foreseeable future. Nearly 87% Despite the outlook on investing, company leaders are
predict that the economy will negatively impact the ability still bullish on their own results. Eighty-eight percent
of startups to acquire capital for the next year. However, expect their company’s revenues to remain flat or increase
74% of responses indicate that seed or early-stage compa- in the next year, including almost 43% that expect a dou-
nies are the best places for new investment through 2010. ble-digit improvement.
Ninety percent see additional difficulty in raising funds Cleantech 52%
for VC firms in the next year. Brian Hughes Internet

is a partner
servicesin the6%Philadelphia office of
As we all know, IPO activity isn’t immune to the econ- KPMG LLP (www.us.kpmg.com)6%and is the national co-leader
Media and digital entertainment
omy, either. More than 70% of those surveyed predict that of KPMG’s Venture Capital Initiative. Brian can be reached at
the IPO market will take a year or more to recover from its bfhughes@kpmg.com. Software 3%
historic lows. However, M&A activity will be robust. Life sciences 11%
Ninety-one percent of respondents see M&A activity Mobile 12%
Telecom and IT 3%
Infrastructure 7%
1: In the next year, which sector do you think will attract the 2: In the next year, which sector do you20%
think30%will see
0 10% 40% the
50%
greatest increase in venture capital investment, despite the greatest decline in venture investing?
current recession?
Cleantech 52% Cleantech 7%
Internet services 6% Internet services 8%
Media and digital entertainment 6% Media and digital entertainment 15%
Software 3% Software 13%
Life sciences 11% Life sciences 8%
Mobile 12% Mobile 3%
Telecom and IT 3% Telecom and IT 31%
Infrastructure 7% Infrastructure 15%
0 10% 20% 30% 40% 50% 0 10% 20% 30% 40%
Significant increase 19%

10 | A LWAYSON | V E N TU R E S U M M I T EAST 2 0 0 9
Cleantech 7% Moderate increase 54%
No increase, flat 16%

Mobile 12% Significant adverse impact
Software 0 10% 13%
20% 30% 40% 50% Significant decrease
No increase, flat 0 5% 10% 15% 20%
20% 25%26%30% 35%
Telecom and IT 3% Modest adverse impact 50%
LifeCleantech
sciences 7%
8% Moderate decrease 0 5%6% 10% 15% 20% 25%
32%
30% 35%
No impact
Infrastructure
Internet services 7%
3% 8% Significant decrease 20%
Mobile Modest favorable impact 7%
0 10% 20% 30% 40% 50%
Media and digitalTelecom
entertainment
and IT 15% 31% Significant favorable impact 0 0.3%5% 10% 15% 20% 25% 30% 35%
Cleantech
Software
7%
13%
Infrastructure Significant adverse impact 0 37%
3: How do you expect cleantech investment
15%
in the Northeast 7: What impact will the credit crisis10%have20%on the
30% ability
40% of50%
Internet services 8%
Modest adverse impact
to trend during the next four quarters?
Life sciences 0 10%
8% 20% 30% 40%
venture capital firms
Significant to raise
adverse impactadditional funds from37%
investors
50%
Media and digital entertainment

Mobile
Cleantech 3% 7%
15%
in the next 12 months?
Modest No impact
adverse impact 6%
50%
Software 13% Modest favorable impact 7%

Telecomservices
Internet and IT 8% 31% No impact
Significant adverse 6% 37%
Significant increase 19% Significant
Significant adverse impact
favorable impact 0.3% 47%
Life sciences 8% Modest
Modestfavorable impact
adverse impact 7% 50%
Media and digital Infrastructure
entertainment
Moderate increase
15%
15% 54% Modest adverse impact 43%
Mobile 0 3% 10% 20% 30% 40% Significant favorable
No impact 0 0.3% 10%
6% 20% 30% 40% 50%
No increase, flat
Software 16% 13% No impact 5%
Modest favorable impact 0 7%
10% 20% 30% 40% 50%
Telecom
Moderate and IT
decrease 7% 31%
Modest favorable impact 5%
Life sciences 8%
Significant favorable impact 0.3%
Infrastructure
Significant decrease 4% 15% Significant favorable impact 0.3%
Mobile
Significant increase 3% 19%
0 10% 20% 30% 40% 50%
0 10% 20% 30% 40% Significant adverse impact 47%
0 10% 20% 30% 40% 50% 54%
60% 0 10% 20% 30% 40% 50%
Moderate increase
Telecom and IT 31%
Modestadverse
adverse impact
impact 43%
No Infrastructure
increase, flat 16% 15% Significant 47%
No impact 5%
Moderate decrease 7% 10% 19% 20% Modest adverse impact 43%
Significant increase 0 30% 40%
Modest favorable impact
4: Venture investment
Significant in New England
decrease 4% dipped in 2008, down 8: How doIncrease
you expect
greater
Significant your
No
than
adverse company
impact
10%
impact 5% revenue to change
5%
from
43% 47%
Moderate
Significantincrease
increase 54%
3%
to roughly $3.3 billion from roughly $3.9 billion in 2007. Q1 2009 to Q4 2009?
Significant
Modest
Increase
Modest
favorable impact
favorable
less than
adverse 10%
impact
0.3%
5% 16% 43%
No increase,
Moderate flat 0
How do you expect totalincrease
investment
Significant increase
10% 16%
to20%add
19%
up in 2009?60%
30% 40% 50%
16%
SignificantRemain
favorable
theimpact
No same 0 0.3%5%10% 20% 30%29% 40% 50%
Moderate decrease
No increase, flat 7% 33%
Moderate decrease
increase 54% Decrease
Modest less than
favorable 10%
impact 0 7%
5%10% 20% 30% 40% 50%
Significant
Moderate 4% 30%
No increase, flat 16% Decrease greater
Significant than
favorable 10%
impact 0.3% 5%
Significant decrease 0 10% 20% 30%18% 40% 50% 60%
Moderate decrease 3%
7% Increase greater than 10% 0 10% 20% 30% 40%
43%
50%
Moderatedecrease
increase 0 5% 10% 15%16%20% 25% 30% 35%
Significant Increase less than
than 10% 16%
4% Increase greater 10% 43%
No increase, flat 33% Remain the same 29%
0 10% 20% 30% 40% 50% 60% Increase less than 10% 16%
Moderate decrease
Significant increase 30% Decrease less than 10% 7%
3% Remain
Increase greater the same
than 10% 29% 43%
Significant decrease
Moderate increase 18% Decrease greater than 10% 5%
Significant 3% 16% Decrease
Increase less than 10% 7% 16%
No increase, flat
Moderate increase 0 5% 10% 15% 20%19% 25% 30% 35%33% Decrease Remain
greater than 10% 0 5%10%
the same 20% 30%29% 40% 50%
Significant increase 3% Significant adverse impact 28%
Moderate decrease
No increase, flat 26% 30% Decrease less than 10% 0 7%
10% 20% 30% 40% 50%
Moderatedecrease
increase 16% Modest adverse impact 33%
Significant
Moderate decrease 18% Decrease greater than 10%
5: Nationwide venture investment dipped in 2008, down
No increase, flat
32%
33%
to 9: Is tightening of credit affecting your company or 38%
No impact
5%
your
roughly $6.1 billion from
Significant
Significant roughly
decrease
increase
Moderate decrease
0 $7.5
5%
3%
10% billion
15% 20% in
20% 2007.
25% 30% How
30%
35% customers’ debt/lease
Modest favorablefinancing
impact 0 1% options?
10% 20% 30% 40% 50%
do you expect total investment to add up in 2009?

Moderate increase 0 5% 10% 15% 20%19% 25% 30% 35% Significant favorable impact 0.4%
Significant decrease 18%
No increase, flat 26% Significant adverse impact 0 10% 20%
28%
30% 40% 50%
0 5% 10% 15% 20% 25% 30% 35%
Moderate
Significantdecrease
increase 32% Modest adverse impact 33%
3% Significant adverse impact 28%
Significant No impact 38%
Moderatedecrease
increase 20%
19% Modest adverse impact 33%
SignificantNo increase,
adverse flat
impact 0 5% 10% 15% 20% 37%30%
25%26% 35% No impact
Significant adverse impact 28% 38%
Significant increase 3% Significant favorable impact 0.4%
Moderate
Modest adverse decrease
impact 32% 50% Modest
Modestfavorable
adverse impact 1% 33%
ModerateNo
impact
decrease 6%
19%
20% Significant favorable
Significant impact
Noincrease
impact 0 0.4% 4%
10% 20% 30% 40%
38% 50%
No increase, flat
26%
ModestModerate
favorableincrease
impact
0 5% 10% 15% 20% 25% 30% 35% 0 1% 10% 20% 30% 27%
40% 50%
Moderate
favorable impact 0.3%
32%
SignificantNo
favorable impact
increase, flat 0.4% 29%
37%
0 10% 20% 30% 40% 50% Moderate decrease 0 10% 20% 30% 24%
40% 50%
Modest adverse impact 50%
6: What impact will the
Nocontinuing
impact economic recession have
0 5% 10%
6%
15% 20% 25% 30% 35%
10: What direction do you
Significant expect valuations
decrease 16%of venture-
on the availability of venture financing

to start-up companies backed companies to trend
Significant increasenext
0 year
4% compared to this year?
5% 10% 15% 20% 25% 30% 35%
Significant
in the nextSignificant
12 months? adverse impact 37%
Moderate increase 27%
favorable impact 0.3% Significant increase 4%
Modest adverse
impact 50%
47%
Modest adverse impact
No impact 0 10%
6% 20% 30% 40% 43% 50%
impact 37% No increase,
Significant flat
increase 4% 29%
Modest favorable
No impact 5%7% Significant increase 1%
Significant
Modest adverse impact 50% Moderatedecrease
increase 24%27%
Significant
Modest favorable
favorable impact
impact 0.3%5% Moderate increase 16%
No impact 6% Significant decrease
No increase, flat 0 5% 10% 15%16%20% 25% 30%
29% 35%
Significant favorable impact 0 0.3% 10% 20% 30% 40% 50% No increase, flat 21%
Modest favorable impact 7% 47% Moderate decrease 0 5% 10% 15% 20%
24%
25% 30% 35%
0 10% 20% 30% 40% 50%
Modestfavorable
Significant adverse impact 0.3% 43% Significant decrease 16%
No impact 5%
0 10% 20% 30% 40% 50% Significant increase 0 1% 5% 10%
0 10%
15% 20%
20%
25% 30%
30%
35%
40%
Significant adverse impact 47% Moderate increase 16%
Increase Significant increase 1%
Significantgreater than
favorable 10%
impact 0.3%
43%
Modest adverse impact 43% No increase, flat 21%
Increase less than 10% 16% Moderate increase 16%
No impact 0 5%10% 20% 30% 40% 50% Moderate decrease 39%
Remain the same No increase,
VENT
Significant flatSUM
URE
increase 1%M IT EA ST 2009 21%| ALWAY SO N | 11
Significant 29% Significant increase 1%
Modest favorable impact
adverse 47%
impact 5% Significant decrease 23%
Decrease less than 10% 7% Moderate
Moderatedecrease
Moderate increase
increase 13%16%
39%
Modestfavorable
impact 0.3%
43%
Modest
Modest adverse
adverse impact
impact 33%
33% Within six months 2%
Significant favorable impact 0.4%
No impact 38% SixWithin
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No impact 38%
six months
months 2%
16%
Modest 0 10% 20% 30% 40% 50%

Modest favorable
favorable impact
impact 1%1% Twelve to
Sixeighteen
to twelve months
months 45%
The AlwaysOn and KPMG Survey Venture Summit East 2009
16%
Significant
Significant favorableincrease
favorable impact
impact 0.4% 4%
Significant 0.4% Longer
Twelvethan Within six months
eighteen
to eighteen months 2% 27% 45%
00 10%
10% 20%
20% 30%
30% 40%
40% 50%
50%
Six to twelve months
Not sure
Longer than eighteen months 10% 16% 27%
11: The number No
of increase, flat
nationwide 29%
venture-investing deals 15: WhatTwelve
do you expectNot
to eighteen the
suremerger
months 0
and acquisition
10%10% 20% 30% 40%
activity
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declined in 2008Moderate
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2007, to 3,808 from 3,952, to be in Q3 andthanQ4 of 2009
months compared to Q127%and Q2?
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Significant
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decrease
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0 10%
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direction do youModerate
expectincrease
the number
0 5% 10% 15% 20% 25% to
of financings 30%trend
27% 35% in
0 10% 20% 30% 40% 50%
the next 12 months?
No increase, flat 29% Significant increase 17%
Significant
increase 4%
4%
Moderate decrease 24% Moderate
Significantincrease
increase 17% 47%
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Significant decrease 16% No increase,
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increase 27% 47%
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No increase,
increase, flat
flat 1% 29%
29%
Significant
Moderate increase
decrease
No increase, flat 7% 17%
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Moderatedecrease
Moderate increase
decrease 0 5% 10% 15%
16% 20% 25%
24% 30% 35%
Moderate 24%
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No increase,
Significant flat
decrease
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16%
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Significant flat
decrease 0 2% 10% 20%
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00 5%
5% 10%
10% 15%
15% 20%
20% 25%
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35% Moderate decrease 7%
Significant 0 10% 20% 30% 40% 50%
Significantdecrease
increase 1% 23%
Moderate increase 0 10% 16%20% 30% 40% 16: If you are a venture investor,
0 what
10% percentage
20% 30% of your
40% 50%
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Significant
21% portfolio do you feel is poised for exit?
increase 1% 1%
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12: The number of New
Significant
Significant England
decrease
increase 1%
venture-investing
16%
23% deals was 50%
No
No increase,
increase, flat
flat to 460 from 496. 21%
down in 2008 versus 2007,
Moderatedecrease
increase 0
21%
What direction 21%-40%
1%-20% 35% 50%
Moderate 10% 13% 20% 30% 40%
do you expect Moderate
the number decrease of financings to trend in the next 39%
39% 41%-60%
21%-40% 11% 35%
12 months? Significant
decrease 23%
23% 1%-20%
61%-80%
41%-60% 3% 11%
50%
00 10%
10% 20%
20% 30%
30% 40%
40% 21%-40%
81%-100%
61%-80% 1%3% 35%
Significant
Significantdecrease
increase 1% 25%
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81%-100% 0 1% 10%
11%
20% 30% 40% 50%
Moderate increase 0 10% 13% 20% 30% 40% 61%-80% 3%
0 10% 20% 30% 40% 50%
No increase, flat 22% 81%-100% 1%
Significant increase 1%
1%
Moderate
Moderate increase
increase 13%
13% 0 10% 20% 30% 40% 50%
No
No increase,
increase, flat
flat 22%
22% 17: Of that percentage,1%-20%
what percentage do you expect93%to
Seed 20%
Moderate
Moderate decrease
decrease
0 10% 20% 30% 40%
39%
39% IPO in 2009? 1%-20% 93%
Early stage 34%
25%
21%-40% 5%
Expansion 18%
0 10% 20% 30% 40% 21%-40%
1%-20% 5% 93%
13: Which stage presents the0 best 10%
Late stage investment
14% 20% opportunities
30% 40%
41%-60% 2%
in 2009-2010? Growth equity
Seed 14% 20%
41%-60%
21%-40%
(that is, mature companies, less risk, less return) 0 2%5% 20% 40% 60% 80% 100%
Early stage 0 10% 20% 30% 34% 40%
0 20% 40% 60% 80% 100%
Expansion 18% 41%-60% 2%
Seed
Seed 20%
20%
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0 20% 40% 60% 80% 100%
Early
Early stage stage 34%
34%
Growth equity 14%
Expansion
Expansion
(that is, mature companies, less risk, less return) 18%
18%
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14%
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is, mature
Within
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mature companies,
six months
companies, less
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equity
equity
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return)
2%
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(that
Six to twelve months 16%
00 10%
10% 20%
20% 30%
30% 40%
40%
Twelve to eighteen months 45%
Longer than eighteen months 27%
Not sure 10%

14: When do youWithin
expect a recovery
six months 2% in the IPO market?
Six to twelve months 0 10% 16%
20% 30% 40% 50%
Twelve to eighteen months

Within
Within six
six months
months
Longer than eighteen months
2%
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&
Six to twelve months
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Twelve
Twelve to eighteen
toSignificant months
eighteenincrease
months 17% 45%
45%
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than eighteenincrease
Moderate months 0 10% 20% 30%
27% 40% 50%
47%
Longer eighteen months 27%
Not
Not sure
No increase, flat
sure 10%
10% 27%
Moderate decrease 00
7%
10% 20% 30% 40% 50%
10% 20% 30% 40% 50%
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increase 2% 17%
Moderate increase 0 10% 20% 30% 40% 47%

50%

12 | A LWAYSON |Significant
V E N TU Rincrease
Significant E S U M M I T EAST 2 0 017%
increase 9
17%
Moderate increase
47%
© 2009 KPMG LLP, a U.S. limited liability partnership aand a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. 090109
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Venture Summit East 2009
Speakers
Ed Anderson
Managing Partner, North Bridge Venture Partners
Ed Anderson founded North Bridge Venture Partners of the communications industry’s leading start-up suc-
and has been the firm’s Managing Partner since incep- cess stories, including Arrowpoint Communications,
tion. Prior to starting North Bridge, he was a partner Cascade Communications, New Oak Communications,
at ABS Ventures, the venture capital affiliate of Alex Redstone Networks, Sonus Networks, Spring Tide
Brown & Sons. Mr. Anderson’s venture investing is tar- Networks, Starent Networks, Sycamore Networks, and
geted at communications and related software markets. Wellfleet Communications. Mr. Anderson is a graduate
Actively working with start-up teams is his primary area of the University of Denver and Columbia University’s
of interest. He has been a founding investor of many Graduate School of Business Administration.
Scott Anthony
President, Innosight
Scott D. Anthony is the President of Innosight, an
international consulting firm co-founded by Clayton
Christensen. He is a sought-after expert on growth,
innovation, and entrepreneurialism for Fortune 500
companies.
David Beisel
Vice President, Venrock
David Beisel joined Venrock in 2007, as a Vice President team for Tremor Media, Intercasting, TripConnect, and
investing in the Internet and digital media space. He NewsGator. Prior to joining Masthead, he co-founded
currently serves on the board of Venrock portfolio com- Sombasa Media, an e-mail marketing company that was
panies Second Rotation and BlogHer and is actively successfully acquired by About.com and subsequently be-
involved with the firm’s investment in AppNexus. Mr. came the AboutDirect division of Primedia. In addition,
Beisel was previously a Principal at Masthead Venture he is the founder and organizer of the Web Innovators
Partners, where he helped lead an investment in Expo Group, a quarterly gathering of the entrepreneurial Web
TV and was an integral member of the investment community in Boston.
Woody Benson
General Partner, Prism VentureWorks
Woody Benson joined Prism in 2004 and runs the firm’s of MCK Communications. MCK Communications
digital media practice. He also has extensive experience went public in 1999 and completed a secondary offer-
in mobile and transformational business. Mr. Benson is ing in 2000. Before MCK, he was a senior executive at
a director for LogMeIn, KickApps, Worldwide Biggies, Shiva Corporation and Lotus Development. Mr. Benson
and Everypoint. Formerly, he was on the board of Maven serves on the board of the Massachusetts Network
Networks, acquired by Yahoo!, and M:Metrics, acquired Communications Council, the MIT Enterprise Forum
by comScore. Prior to becoming a venture capitalist, 10-250 Committee, the American Red Cross-Metro West,
Mr. Benson served as Chairman, President, and CEO and the Bentley Private Equity Council.
Elon Boms
Managing Director, LaunchCapital
Elon S. Boms, Managing Director of LaunchCapital, briefly at Merrill Lynch. He began his career at Georgia
has led LaunchCapital in making 21 investments across Pacific’s Dixie division, where he assumed responsibility
a broad range of industries. Since founding the company for a profit turnaround of a $125 million business unit. Mr.
in 2008, he has established the LaunchCapital presence Boms earned his MBA from Yale, where he graduated
across the U.S. Prior to establishing LaunchCapital, Mr. with distinction in venture capital and a concentration in
Boms was a consultant at Fidelity Investments, where finance. He completed his BA in economics from George
his work focused on core business unit optimization. He Washington University.
has also worked in corporate finance for Citigroup and
Greg Brogger
Founder and CEO, SharesPost
Greg Brogger is a serial entrepreneur and the Founder as well as CarsDirect.com (now called Internet Brands).
and CEO of SharesPost. SharesPost was built to bring Prior to that, he was Idealab’s Vice President of Business
the benefits of a modern communications platform to the Development. Mr. Brogger began his career advising ear-
private equity industry and liquidity to its participants. ly-stage technology companies as an associate at Wilson
Prior to SharesPost, he founded BrightHouse, a Santa Sonsini Goodrich & Rosati. He received his BA from UC
Monica based incubator and investment vehicle for early- Berkeley, a JD from the University of Pennsylvania, and
stage companies. Previously, Mr. Brogger co-founded an MBA from the Wharton School.
Zag.com, a next-generation online auto-buying platform
Bill Burgess
Managing Partner, ABS Ventures
Bill Burgess has 25 years of experience in venture capital serves as Chairman of the Board of Trustees for the
and corporate finance. Prior to joining ABS Ventures New England Aquarium and Trustee and Treasurer of
in 2001, he was Managing Director and Global Head St. Mark’s School. He is a board member of Adeptra,
of Deutsche Bank Venture Partners. He has also ClickSquared, and Highroads, and has served on many
served as Vice Chairman of Global Corporate Finance other boards, including Clearforest (acquired by Reuters)
at Deutsche Bank and Global Co-Head of Industry and PowerDsine (acquired by Microsemi). Mr. Burgess
Groups Investment Banking and Head of Technology received his BA from Dartmouth College and MBA from
Investment Banking at Alex Brown & Sons. Mr. Burgess Harvard Business School.
Jeff Bussgang
General Partner, Flybridge Capital Partners
Jeff Bussgang is a General Partner at Flybridge Capital (merged with InnerWireless). Previously, Mr. Bussgang
Partners, whose investment interests and entrepre- co-founded Upromise (acquired by Sallie Mae), a loyalty
neurial experiences are in consumer, Internet com- marketing and financial services firm that currently man-
merce, marketing services, software, and wireless start- ages $20 billion in college savings assets. He holds a BA
ups. He currently represents the firm on the boards in computer science from Harvard University, where he
of BzzAgent, ClickSquared, digitalArbor, go2 Media, graduated magna cum laude, and an MBA from Harvard
i4cp, InnerWireless, Mall Networks, SimpleTuition, Business School, where he was a Baker Scholar and a
and Transpera and was previously a director at Brontes Ford Scholar.
Technologies (acquired by 3M) and PanGo Networks
Dennis R. Costello
Managing Director, Braemar Energy Ventures
Dennis R. Costello is a Managing Director of Braemar International. Mr. Costello is also a managing director in
Energy Ventures II and is a member of the investment Rock Maple Ventures, an early-stage technology venture
committee. He has been an active venture capital invest- fund in Boston. He holds an MS degree in business from
ment professional for more than 20 years. Previously, MIT, where he was an Alfred P. Sloan Fellow. He also
Mr. Costello was with Advent International, where he holds an MA in economics from Ohio State University
focused on early-stage to later-stage middle-market com- and a BA in economics from the State University of New
panies. Prior to that, he served as the Chief Investment York (SUNY), College at Fredonia.
Officer for the North American operations of Advent
Scott Cutler
Executive Vice President, NYSE Euronext
Scott Cutler is an Executive Vice President of NYSE operating committee. Before joining NYSE Euronext,
Euronext, responsible for all the Americas listings busi- Mr. Cutler was an investment banker focused on technol-
ness. He manages the exchange’s relationship with more ogy. He was a corporate securities lawyer and focused on
than 1,700 companies, along with investment banking, M&A, IPOs, venture fund formation, and VC represen-
private equity, VC, and legal communities to attract new tation. He serves on the executive committee of TechNet.
business. He oversees IPOs, structured products, closed- Mr. Cutler graduated in economics from Brigham Young
end funds, and the listings business from the American University and received a JD from the University of
Stock Exchange. He also serves on NYSE Euronext’s California Hastings College of Law.
VENT URE SUM M IT EA ST 2009 | ALWAY SO N | 15

Speakers Venture Summit East 2009
Bob Davis
Managing General Partner, Highland Capital Partners
Bob Davis focuses primarily on digital media and the UN, the National Press Corps, and the U.S. Council of
Internet. Previously, he served as the CEO of Terra Foreign Relations. Mr. Davis’s academic accomplish-
Lycos and was also the Founder, President, and CEO of ments include a BS from Northeastern University, an
Lycos. Under his leadership, Lycos completed the fast- MBA from Babson College, and an honorary doctorate
est IPO in Nasdaq history. Mr. Davis has served on the from Bentley College and Northeastern University. He
boards of several public and private companies as well has been inducted into the Academy of Distinguished
as academic and hospital organizations. He has advised Entrepreneurs and received the Massachusetts Interactive
former President Clinton and addressed Congress, the Media Council’s Lifetime Achievement Award.
Sunil Dhaliwal
General Partner, Battery Ventures
Sunil Dhaliwal focuses on investments in IT infrastruc- other Battery investments, including Cbeyond, MRU
ture and financial services. He is currently a board mem- Holdings, and Akara (acquired by Ciena). Prior to
ber at Neocleus (observer) and Next Investments. Mr. Battery, Mr. Dhaliwal worked in the High Technology
Dhaliwal has previously served as a director or board ob- Group at Alex Brown & Sons, where he worked closely
server at CipherTrust (acquired by Secure Computing), with growth companies in the communications and
Netezza, Storigen Systems (acquired by EMC), @stake software industries. He graduated from Georgetown
(acquired by Symantec), and Storability Software (ac- University with a BS in finance and international
quired by StorageTek). He has also been involved with business.
Don Dodge
Director of Business Development, Emerging Business Team, Microsoft
Don Dodge is a veteran of five start-ups including software business for more than 25 years. He started his
Forte Software, AltaVista, Napster, Bowstreet, and software career with Digital Equipment in the data-
Groove Networks. He is currently Director of Business base group. He worked with five software start-ups over
Development for Microsoft’s Emerging Business Team. years: Forte Software, AltaVista, Napster, Bowstreet, and
The goal is to help VCs and start-ups be successful Groove Networks. Now with Microsoft, “the biggest
with Microsoft, and together, provide great products start-up in the world,” he works with VCs and start-ups
for Microsoft’s customers. Mr. Dodge has been in the in the greater Boston area.
Timothy C. Draper
Founder and Managing Director, Xchange / Draper Fisher Jurvetson
Timothy C. Draper is the Founder and a Managing Tagworld, SocialText, Kyte.tv, Chroma Graphics, Meebo,
Director of Draper Fisher Jurvetson. His original sugges- Increo, and Wigix. Previous successes include: Skype,
tion to use viral marketing in Web-based e-mail to geo- Overture.com, Baidu, Parametric Technology, Hotmail,
metrically spread an Internet product to its market was PLX Technologies, Preview Travel, Digidesign, and oth-
instrumental to the successes of Hotmail and YahooMail, ers. He launched the DFJ Global Network, an interna-
and has been adopted as a standard marketing technique tional network of early-stage VC funds. He has a BS in
by hundreds of businesses. On behalf of Draper Fisher electrical engineering from Stanford University and an
Jurvetson, Mr. Draper serves on the boards of Glam, MBA from Harvard Business School.
John J. Egan III

Partner, Goodwin Procter
John Egan, a Partner and Co-Chair of the firm’s security, and business services to communications, media,
Technology Companies Group, focuses on corporate and life sciences. He also represents numerous venture
securities, venture capital, growth equity, and technol- capitalists, private equity investors, and investment banks
ogy enterprises. His practice involves early- and late- and has extensive experience in intellectual property and
stage venture financings, growth equity and leveraged licensing issues. Prior to rejoining Goodwin Procter, Mr.
recapitalizations, IPOs, mergers and acquisitions, joint Egan was a partner at McDermott Will & Emery, where
ventures, strategic licensing, and the general representa- he was a member of that firm’s corporate department and
tion of public and private emerging-growth companies in global head of its Private Equity/Emerging Companies
industries ranging from enterprise software, networking, Group.
Jeff Fagnan
Partner, Atlas Venture
Jeff Fagnan is a Partner in the technology group at Atlas quired by IBM. He was the founding investor and cur-
and focuses on emerging companies in enterprise and rently sits on the boards of Atlas portfolio companies
Internet infrastructure as well as alternative energy tech- AEB, Bit9, Songbird, and Veracode. He also sits on the
nologies and advanced material science. He works closely board of portfolio company SimpleTuition and led the
with MIT, Harvard University, Boston University, and firm’s investments in Keas and Mascoma. Mr. Fagnan
other innovation engines to commercialize technolo- received his MBA from the William E. Simon Graduate
gies developed in technical labs. Mr. Fagnan led the Atlas School of Business at the University of Rochester and a
investment in DataPower Technologies, which was ac- BS from the University of Alaska.
Diana H. Frazier
Co-Founder and Managing Partner, FLAG Capital Management
Diana H. Frazier is a Co-Founder and Managing Partner a high-tech entrepreneur, where she was responsible for
of FLAG Capital Management, a $4.4 billion money- all personal and business relations, including traditional
management firm founded in 1994. FLAG created the first money managers and venture investments, both direct
fund-of-funds designed exclusively for individuals, fami- and through funds. Ms. Frazier spent one year with a
lies, foundations, and educational endowments, offering large hedge fund dealing primarily with high net-worth
the opportunity to invest in a select, balanced group of investors. She has an honors BA in economics from
top-tier VC, private equity, international, and real as- Wellesley College and a master’s degree in management
sets funds. Prior to FLAG, she started a family office for from the Sloan School of Management, MIT.
Thomas Gabel
Managing Director, Canaccord Adams
Tom Gabel serves as Managing Director and Head of Wachovia Securities, where he was instrumental in
U.S. Institutional Sales and Head of Capital Markets at opening and managing the Boston institutional eq-
Canaccord Adams. He is dedicated to leading the U.S. uity office. Previously, he was first Vice President and
equities effort through four institutional sales teams and Managing Director at Dain Rauscher Wessels. He also
a bi-coastal alternative financing team in coordination served as Vice President of Institutional Sales at Prescott
with the global distribution platform of the company. Ball & Turben. Mr. Gabel graduated from John Carroll
Over his 20 year career, Mr. Gabel served as Managing University with a BA in marketing.
Director and Senior Boston Salesman at First Union/
Jeffrey Glass
Managing Director, Bain Capital Ventures
As a Managing Director at Bain Capital Ventures, Jeff Business Journal. His company m-Qube was acquired
Glass focuses on wireless, digital media, and consum- by VeriSign in 2006. Mr. Glass also held positions as
er marketing technologies. He currently serves on the Founder and President of Transactive Solutions, Chief
board of Blip.tv, LinkedIn, TargetSpot, BzzAgent, the Operating Officer of Travelers/NETPlus, and strat-
Massachusetts Innovation Technology Exchange, and egy consultant with BCG. He received an MBA from
the Mobile Marketing Association. Prior to joining Bain Harvard Business School and a BA in economics and po-
Capital Ventures, he was President and CEO of m-Qube, litical science from Amherst College.
a Bain Capital portfolio company that was named the
fastest-growing business in New England by the Boston
Andrew P. Goldfarb
Co-Founder and Executive Managing Director, Globespan Capital Partners
Andrew Goldfarb is Co-Founder and Executive Technologies (acquired by SDL), m-Qube (acquired
Managing Director of Globespan Capital Partners and by VeriSign), Net Perceptions, Ocular Networks (ac-
is based in the firm’s Boston office. He serves on the quired by Tellabs), Pirus Networks (acquired by Sun
boards of Akorri, Covergence, Hatteras Networks, Microsystems), Silknet, ShoreTel, and Virtusa.
Incipient, Quattro Wireless, and Vericept. He previously Prior to Globespan, Mr. Goldfarb was Senior Managing
led or served on the board for the team’s investments in Director of JAFCO Ventures, where he established
Aptis Communications (acquired by Nortel Networks), the Boston office in 1997. Previously, he directed Trans
Argon (acquired by Siemens), Cerulean Technology National Group’s venture investing.
(acquired by Aether), eDocs (acquired by Siebel), Idiom

Michael Greeley
General Partner, Flybridge Capital Partners
Michael Greeley is a General Partner at Flybridge Capital Biomedical, MicroCHIPs, PolyRemedy, Predictive
Partners focused on information technology, healthcare, Biosciences, Protein Forest, T2 Biosystems, and VidSys,
and medical technology investments. Among a range of and led the firm’s investment in Magen BioSciences.
general investment themes, he is currently focused on He currently serves as Chairman of the New England
opportunities involving the convergence of healthcare Venture Capital Association, where he served as
and IT, technology-enabled business services, and tech- President from 2005 to 2008. Mr. Greeley received a BA
nologies that address the physical security and home- with honors in chemistry from Williams College and an
land defense markets. Mr. Greeley currently represents MBA from Harvard Business School.
the firm on the boards of BlueTarp Financial, CERTUS
Jean Hammond
Co-Leader, Boston Forum, Golden Seeds
Jean Hammond is an active angel investor usually focus- the high-tech industry. Her entrepreneurial activities in-
ing on early-stage high-tech start-ups. She is a co-coordi- clude managing JAM Technologies and co-founding and
nator of the Boston branch of Golden Seeds (focused on managing Quarry Technologies and AXON Networks.
investing in women-managed businesses) and a mem- Following 3Com’s acquisition of AXON, Ms. Hammond
ber of Launchpad and Hub Angels. Ms. Hammond also was responsible for 3Com’s WAN strategy. She earned an
serves on the boards of the Technology Capital Network MS from MIT’s Sloan School of Management and a BS
and Thompson Island Outward Bound. She is serial from Boston University.
entrepreneur with more than 20 years of experience in
Jeff Hoffmeister
Managing Director and Head of East Coast Technology Banking, Morgan Stanley
Jeff Hoffmeister runs Morgan Stanley’s technology for ten years. Prior to joining Morgan Stanley, he worked
investment banking team on the east coast. Prior to at Anheuser-Busch, Raymond James Financial, and
transferring back to the U.S. in 2008, he headed Morgan PricewaterhouseCoopers in their strategic consulting and
Stanley’s European technology investment banking team audit departments. Mr. Hoffmeister holds an MBA from
and was based in London. Mr. Hoffmeister has worked in the University of Virginia and an undergraduate degree
Morgan Stanley’s technology investment banking team in finance and accounting from Georgetown University.
Bob Hower
General Partner, Advanced Technology Ventures
Bob Hower is ATV’s East Coast lead partner for in- operating experience, including serving as Vice President
vestments in information technology and is primar- of Sales at LHS Group, where he built the company’s
ily focused on the Internet, digital media, and software Enhanced Services Division for Europe, the Middle
sectors. He is an active board member of Acme Packet, East, and Africa. He was also a member of the senior
ChannelAdvisor, Packet Design, Nuventix, Sanovi, and management team at Priority Call Management. Mr.
[x+1]. Mr. Hower was instrumental in Acme Packet’s Hower earned an MBA from the Amos Tuck School at
2006 public offering, one of the most successful IPOs in Dartmouth College and a BA, cum laude, from Harvard
the communications sector this decade. He has extensive College.
Brian Hughes
Partner, KPMG
Brian Hughes is the co-leader of KPMG’s venture capi- graduate degree from the University of Pennsylvania and
tal practice, with overall responsibility for the east coast an MBA from the Wharton School. He is a member of
practice. He has more than 25 years of experience provid- the American Institute of Certified Public Accountants
ing auditing and accounting services. His professional and is also a founding member of the New Jersey
experience includes servicing technology and venture- Technology Council and a long-serving member of its
backed companies, and he has worked with more than 20 board of directors.
companies to complete their IPOs. He holds an under-
Amish Jani
Managing Director, FirstMark Capital
Amish Jani, a Founder and Managing Director of specialized in M&A in the IT sector with J.P. Morgan
FirstMark Capital, focuses on investments in the digital and Credit Suisse First Boston. Mr. Jani sits on the
media, Internet, and infrastructure sectors. He also leads boards of Aveksa, Boomi, Conductor, COPAN Systems,
FirstMark’s investment strategies for the Indian mar- IMImobile, Lumos Labs, and Scalent Systems. He holds
ketplace. Prior to founding FirstMark Capital, Mr. Jani an MBA and BS from the Wharton School of Business,
served as a Partner with Pequot Ventures. Previously, he University of Pennsylvania.
Bill Kerrigan
Adviser and Former Executive Vice President, McAfee
Bill Kerrigan currently serves as an independent direc- less than 2 million to 23 million subscribers. Previous to
tor and adviser to a number of early-stage, subscrip- his time at McAfee, Mr. Kerrigan was CEO, Shaman,
tion-based companies, including Carbonite, White an early software-as-a service company, and Senior Vice
Sky, identityTruth, and RatePoint. He was Executive President, Corporate Software, a global software reseller
Vice President, McAfee, Consumer. During his time at and software asset management provider. He held vari-
McAfee, online subscription revenue grew to more than ous leadership positions during a nearly 20-year career at
$400 million, while the online user base expanded from IBM.
David Lavallee
Co-Founder and Managing Director, Revolution Partners
David Lavallee is a Managing Director and Co-Founder numerous mergers and acquisitions in the software in-
of Revolution Partners. Prior to joining Revolution dustry during his tenure, including a $4.2 billion transac-
Partners, he headed the East Coast software practice of tion, the third largest software acquisition in history. Mr.
the CSFB Technology Group and has experience in vir- Lavallee was formerly the head of Bluevector’s Boston of-
tually all IT sectors. Mr. Lavallee has executed several fice and head of Bluevector’s software practice. Bluevector
innovative financings for technology companies includ- was the venture investing arm of marchFIRST. He
ing Citrix, GartnerGroup, Allaire, Silknet, Manhattan received an AB from Brown University and a JD, cum
Associates, and VistaPrint. Mr. Lavallee also worked on laude, from Georgetown University Law Center.
Hambleton “Ham” Lord

Managing Director, Launchpad Venture Group
Ham Lord has more than 25 years of experience in the board member for Building Engines and a board observer
software industry founding and building industry-lead- for EveryScape. Mr. Lord’s senior management experi-
ing companies. Currently, he is the Managing Director ence was in the software industry, most recently as Co-
of Launchpad Venture Group. Launchpad is a Boston- Founder and Vice President of Marketing for Advanced
based angel group that focuses on seed-stage technology Visual Systems. Previously, he helped launch two compu-
companies. He manages the group’s deal flow, due dili- tational chemistry companies: MicroChem Technologies
gence, and investing activities. Mr. Lord is an active angel and Polygen. Mr. Lord graduated magna cum laude with
investor and advisor to early-stage companies. He is a a degree in computer science from Brown University.
Paul Maeder
General Partner, Highland Capital Partners
Paul Maeder is a Founder and General Partner of Systems, Vertica Systems, and Village Ventures. Mr.
Highland Capital Partners, a $3 billion worldwide ven- Maeder also serves on the executive committee of the
ture capital firm. He focuses on cleantech and informa- board of directors of the National Venture Capital
tion technology investments. Mr. Maeder has more than Association as well as the Mechanical and Aerospace
32 years of software experience and more than 24 years Engineering Advisory Committee at Princeton. He
experience in venture capital. He currently serves on the received a BSE in AMS from Princeton, an MS in me-
boards of Avidyne, Bit9, BlueTarp Financial, Imprivata, chanical engineering from Stanford, and an MBA from
PerkStreet Financial, Predictive Biosciences, StreamBase the Harvard Business School.

Aaron Mandell
Managing Partner, GreatPoint Ventures
Aaron Mandell is Co-Founder and Managing Partner of pet coke, biomass, and wastes. He is also Founder and
GreatPoint Ventures. He is also Co-Founder and CEO of Chairman of the Board of Coskata (a leader in next-gen-
Oasys Water; a leading developer of engineered osmosis eration cellulosic fuels). In 2007, he also joined the board
technology for wastewater treatment and seawater de- of directors of Altarock, an enhanced geothermal power
salination. Mr. Mandell also co-founded and sits on the company he co-founded. Previously, Mr. Mandell co-
board of GreatPoint Energy, a technology-driven, natural- founded and was CTO of Coatue, a developer of polymer
resources company producing clean natural gas from coal, memory chips, which was acquired by AMD in 2004.
Art Marks
General Partner, Valhalla Partners
Art Marks received his first e-mail address in 1979 while Previously, he was a general partner at NEA, responsible
working at GE Information Systems. He has been in for creating NEA’s technology practice. Prior to venture
venture capital since 1984 and enjoys working with new capital, Mr. Marks held several significant operating posi-
technologies and entrepreneurs. His present company tions at General Electric and Baxter Labs. He served as
responsibilities include Avail Media, BDMetrics, B-Side the General Manager of X-Ray products and as Senior
Entertainment, Register.com, SafeNet, and TidalTV. He VP at GEIS. Mr. Marks has an MBA from HBS and a
is involved in media, Internet marketing and security-re- BSIE from the University of Michigan.
lated companies. Mr. Marks co-founded Valhalla in 2002.
Raj Marphatia
Partner, Private Investment Funds, Ropes & Gray
Raj Marphatia is a Partner in the Private Investment Pacific Equity Partners. On the investor side, he repre-
Funds Group, focusing on transactions involving the sents The California Endowment, Columbia University,
financial services industry. He is proficient in structur- J. Paul Getty Trust, Howard Hughes Medical Institute,
ing a variety of collective investment vehicles, including the Institute for Advanced Study, Kamehameha
hedge funds, VC funds, and leveraged buyout funds. Mr. Schools, Pepperdine University, Robert Wood Johnson
Marphatia represents both sponsors and investors. On Foundation, Stanford University, and the University of
the sponsor side, he represents ArcLight Capital Partners, Pennsylvania. Mr. Marphatia received his undergraduate
Covalent Partners, Emerald Hill Capital Partners, Gottex degree from Harvard College and his JD from Harvard
Fund Management Sarl, Monitor Clipper Partners, and Law School.
Charles J. “Chuck” McDermott

General Partner, RockPort Capital Partners
Chuck McDermott began his cleantech career more than Beams, Project FROG, Renaissance Lighting, Soliant
20 years ago, helping launch the nation’s first indepen- Energy, Sustainable Spaces, and Tioga Energy. He is a di-
dent bulk electric power trading company, the predeces- rector and executive committee member of the GridWise
sor to Citizens Power. Having directed the successful Alliance, a member of the Smart Grid Policy Center
campaign of Congressman Joseph Kennedy II, he served Advisory Council, a member of the National Renewable
two terms as his Chief of Staff. He then joined Waste Energy Laboratory Capital Advisory Committee, and
Management, the world’s largest environmental services a member of the Energy Future Coalition Advisory
company as Vice President for Government Affairs. He Council.
currently serves on the boards of Advanced Electron
Giles McNamee
Partner, McNamee Lawrence & Co.
Giles McNamee has more than 20 years experience in and closed more than 30 transactions. Prior to forming
the investment industry. In early 2002, he and Glover McNamee Lawrence, Mr. McNamee was a Managing
Lawrence founded McNamee Lawrence & Co. in Boston Director with Hambrecht & Quist, where he was respon-
to provide advisory and investment banking services sible for more than $70 billion in transactions including
to exciting but overlooked technology companies. Mr. IPOs, follow-on offerings, private placements, and merg-
McNamee and Mr. Lawrence announced their first trans- ers and acquisitions. Mr. McNamee earned a BA in his-
action in June 2002, the $78 million sale of CBS Payroll tory from Yale College.
Services to Intuit. MLC has advised more than 50 clients
Lucy McQuilken
Investment Director, Intel Capital
Lucy McQuilken invests in the consumer Internet sec- manager, and manufacturing manager. She is a board
tor, including social media, social networking, mobile observer at Skyhook Wireless, Transpera, Vostu.com,
Web, e-commerce, location-based services, and advertis- Punchbowl Software, Veoh Networks, and Eons.com.
ing supported businesses. Prior to joining Intel Capital, Ms. McQuilken also invested in and managed exits at
she was founder and CEO of Groove Mobile, a leading Circle Lending (majority owned by Virgin USA) and
provider of mobile music services (acquired by NMS Openera (acquired by NMS Communications). She
Communications). Before that, Ms. McQuilken worked holds a BSEE from Duke University and an MBA from
for nine years at Agilent/Hewlett Packard as a key ac- Clark University.
count sales manager, product manager, engineering
Michael Millman
Managing Director, Global Head of TMT Equity Capital Markets, J.P. Morgan
Michael Millman is a Managing Director and Head of ments. His client coverage includes a range of emerg-
J.P. Morgan’s Technology, Media and Telecom (TMT) ing and established companies in the TMT sector, and
Equity Capital Markets Group. He spearheads the firm’s he has managed many of J.P. Morgan’s most important
strategic advisory and equity capital raising services for equity financing mandates. Mr. Millman’s work has led
TMT clients globally. Mr. Millman oversees a variety of him to develop strategic relationships with the buy-side
equity mandates ranging from structuring and executing community, financial sponsors, and venture firms. He
IPOs and follow-on offerings to specialized capital rais- holds a BA in economics and statistics and an MBA from
ing alternatives such as convertibles and private place- Columbia University.
Michael Moe
Former Chairman and CEO, ThinkEquity Partners
Michael Moe has more than 20 years of experience and Research at Merrill Lynch, and before that, he was
previously co-founded and was CEO of ThinkEquity Head of Growth Research and Strategy at Montgomery
Partners, a growth-focused investment bank. From Securities. He is a member of the New York Society of
Think’s inception in July 2001, the firm grew at 50% Security Analysts, the San Francisco Analyst Society,
CAGR to $70 million in revenue in 2007. ThinkEquity and is a past advisor for the Center for Innovation. He
was sold in March 2007, to Panmure Gordon for $64 mil- earned his BA in political science and economics at the
lion. Prior to that, Mr. Moe was Head of Global Growth University of Minnesota.
Michael Monahan
Partner, KPMG
Michael Monahan is an audit partner in KPMG’s New M&A advisory and was previously selected for a rotation
York office and is the New York office Mid-Market in KPMG’s Department of Professional Practice, where
Industry Leader as well as a member of the KPMG he specialized in SEC matters, revenue recognition,
venture capital practice. He is the lead partner for Duff equity-based compensation, and business combinations,
& Phelps, TheStreet.com, and BBC America and BBC and provided training to global clients such as Daimler-
Worldwide Americas. During his 19 years in public ac- Chrysler, Pfizer, and Sanmina.
counting, Mr. Monahan has specialized in IPOs and
Ted Morgan
Founder and CEO, Skyhook Wireless
Ted Morgan founded Skyhook Wireless with Michael edocs, Mr. Morgan was Group Product Manager for
Shean in 2003 to capitalize on the explosive growth of Open Market, one of the early leaders in the e-com-
Wi-Fi use and the emerging demand for location-based merce revolution. Prior to that, he was a product man-
services. Prior to founding Skyhook, he was the Vice ager for Harbinger Net Services in Atlanta. Previously,
President of Marketing for edocs, a provider of customer Mr. Morgan spent four years in the financial services
self-service solutions that was sold to Siebel Systems. At industry. He has an undergraduate degree in mathemat-
edocs, he ran marketing communications, inside sales, ics from Georgetown University and an MBA from the
product marketing, and product management. Prior to University of Chicago.
Amir Nashat
General Partner, Polaris Venture Partners
Amir Nashat is a general partner in Polaris Venture’s Therapeutics, Bind Biosciences, Fate Therapeutics, Living
Boston office and focuses on investments in the life sci- Proof, Pervasis Therapeutics, Promedior Pharmaceuticals,
ences. Prior to joining Polaris, Mr. Nashat completed and Selecta Biosciences. He played an instrumental role
his PhD as a Hertz Fellow in chemical engineering at in the inception of Living Proof and Pervasis, serving as
MIT with a minor in biology. During his time at MIT, the founding President of both companies. Mr. Nashat
he completed an internship in the London office of earned both his MS and BS in materials science and me-
Goldman Sachs. Mr. Nashat currently represents Polaris chanical engineering at UC Berkeley.
as a director of Athenix, aTyr Pharmaceuticals, Avila
Lita L. Nelsen
Director, Technology Licensing Office, MIT
Lita Nelsen is the Director of the Technology Licensing brane separations. Ms. Nelsen was the 1992 President of
Office at MIT, which manages more than 500 new inven- the Association of University Technology Managers. She
tions per year and negotiates more than 100 licenses, in- was a co-founder of Praxis, a U.K. non-profit company
cluding 20 new start-ups, per year. She earned BS and MS for training technology transfer professionals. This year,
degrees in chemical engineering from MIT and an MS the U.K. Government awarded her the honor of Member
in management from MIT as a Sloan Fellow and worked of the Order of the British Empire (MBE) for her work
in industry in the fields of medical devices and mem- with technology transfer institutions throughout the U.K.
Chris Pasko
Senior Managing Director, Blackstone
Chris Pasko is a Senior Managing Director in the was Head of Morgan Stanley’s East Coast Technology
Corporate and Mergers and Acquisitions Advisory group Investment Banking Group and its Boston office. Mr.
based in Boston. Since joining Blackstone, he has been Pasko holds a BA in economics from Williams College,
involved with a variety of transactions including advis- where he was inducted into the Phi Beta Kappa Society,
ing Sapient in its acquisition of Derivatives Consulting was named a Class of 1960 Scholar in Economics, and
Group, DTN in its sale to Telvent, Everbank in its sale of won the Jack Larned International Management Prize.
an equity stake to Sageview, and Microsoft in its discus- Mr. Pasko earned his MBA from Harvard University.
sions with Yahoo. Prior to joining Blackstone, Mr. Pasko
Alan J. Patricof
Managing Director, Greycroft
Alan Patricof is the Managing Director of Greycroft, a initial stages are Apple Computer, America Online,
venture capital firm focused on the digital media sec- Cadence Systems, Office Depot, FORE Systems,
tor. Prior to founding Greycroft, he was the Founder Cellular Communications, and Audible. Mr. Patricof is
and Chairman of Apax Partners, the U.S. arm of Apax a Member of the Board of Governors, North American
Partners, Worldwide. During the past 40 years, Mr. Venture Capital Summit. He holds a BS in finance from
Patricof has participated in the financing and develop- Ohio State University and an MBA from the Columbia
ment of a large number of public and private compa- University Graduate School of Business.
nies. Companies that he has been involved with at the
Rosalind W. Picard
Co-Founder and Director, Affectiva
Rosalind W. Picard is the Founder and Director of the in electrical engineering with highest honors from the
Affective Computing Research Group at the MIT Media Georgia Institute of Technology, and master’s and doctor-
Laboratory, Co-Director of the Things That Think ate degrees, both in electrical engineering and computer
Consortium, and leader of the Autism Communication science, from MIT. Prior to completing her doctorate at
Technology Initiative at MIT. In April 2009, she co- MIT, she was a member of the technical staff at AT&T
founded Affectiva with Dr. Rana el Kaliouby to com- Bell Laboratories, where she designed VLSI chips for
mercialize technologies for emotion measurement and digital signal processing and developed new methods of
communication. Ms. Picard holds a bachelor’s degree image compression and analysis.

Barbara Piette
Managing Principal, Knightsbridge Advisers
Barbara Piette joined Knightsbridge Advisers in August technology, and consumer companies and served on the
2006. As a 20-year investor in private companies and a boards of seven companies. Previously, she was a Partner
former partner in two leading venture capital firms, she in Schroder Ventures, investing with a life-sciences focus,
continues to build Knightsbridge’s portfolio of invest- and serving on the boards of eight companies. Ms. Piette
ments in the best early-stage venture partnerships. Her earned a BS summa cum laude from Boston College,
association with Knightsbridge dates back 19 years, when, graduating first in her class. She received an MBA with
as a General Partner of Charles River Ventures, she honors from Harvard Business School.
was responsible for a successful portfolio of healthcare,
Bijan Sabet
General Partner, Spark Capital
Bijan Sabet has been a General Partner at Spark Capital Development and Product Management, at Moxi Digital,
since its inception in 2005. He has led investments in where he was responsible for establishing and manag-
Boxee, Bug Labs, Buzzwire, OMGPOP, SendMe, the- ing strategic relationships with cable and satellite opera-
Platform (acquired by Comcast), Tumblr, and Twitter. tors as well as driving product strategy. In this role, Mr.
Prior to joining Spark, Mr. Sabet was Senior Vice Sabet was part of the early team that introduced the
President, Corporate Development, of GameLogic after MoxiMedia Center, a low-cost replacement for a digital
serving as an Entrepreneur-in-Residence at Charles River cable or satellite set-top box. He holds a BS degree from
Ventures. Previously, he was Vice President, Business Boston College.
William A. Sahlman
Dimitri V. D’Arbeloff–MBA Class of 1955 Professor of Business Administration
Senior Associate Dean for External Relations, Harvard Business School
William Sahlman is the Dimitri V. d’Arbeloff–Class of the Board for Harvard Business School Publishing. Prior
1955 Professor of Business Administration at Harvard to that, he was Chairman of the Harvard University
Business School. The d’Arbeloff Chair was established to Advisory Committee on Shareholder Responsibility. He
support teaching and research on the entrepreneurial pro- is a member of the board of directors or board of advisors
cess. He is also the Senior Associate Dean for External of several private companies and not-for-profit organiza-
Relations and was co-chair of the Entrepreneurial tions. Mr. Sahlman received an AB in economics from
Management Unit. Previously, he was Senior Associate Princeton University, an MBA from Harvard University,
Dean, Director of Publishing Activities, and Chairman of and a PhD in business economics, also from Harvard.
Bill Schnoor
Partner, Goodwin Procter
Bill Schnoor, a partner and co-chair of the firm’s works with companies across various industries, includ-
Technology Companies Group and its Clean ing alternative energy and other clean technologies, e-
Technologies Practice, concentrates in the areas of busi- commerce and other Internet-based businesses, enter-
ness and securities law, private equity, and acquisitions. prise software, life sciences, and healthcare information
He has more than 25 years of experience in representing technology. He has also represented private equity clients
start-up, private, and public companies. He has worked in connection with their own fund-raising and inter-
with numerous companies from their initial financing nal organizational issues as well as in making portfolio
through IPOs or acquisitions, and has advised public investments and with matters affecting their portfolio
companies and their boards of directors. Mr. Schnoor companies.
Barry Silbert
CEO, SecondMarket
Barry E. Silbert is the Founder and CEO of financial restructurings, M&A, and corporate financing
SecondMarket, the largest secondary market dedicated to transactions. Before joining Houlihan Lokey, Mr. Silbert
creating liquidity for illiquid assets, including auction- worked at Bear Stearns, Smith Barney, and Rydex Funds.
rate securities, bankruptcy claims, collateralized debt ob- He graduated with honors from Emory University’s
ligations, limited partnership interests, mortgage-backed Goizueta Business School and holds Series 7, 24, and
securities, private company stock, restricted securities 63 licenses. Mr. Silbert is also the chairman of Pluris
in public companies, and whole loans. Prior to found- Valuation Advisors, a New York-based valuation firm
ing SecondMarket, he was an investment banker at specializing in illiquid assets.
Houlihan Lokey Howard & Zukin, where he focused on
Michael Skok
General Partner, North Bridge Venture Partners
Michael Skok joined North Bridge Venture Partners in served on many private and public company boards as
2002. Prior to this, he was an entrepreneur and CEO in well as supported various software industry groups such
the software business for more than 20 years. Mr. Skok as the Software Publishers Association. He is currently
founded, led, and attracted more than $100 million in active on the boards of all his recent investments includ-
private equity to his investments in several successful ing Acquia, Active Endpoints, Demandware, Lumigent,
software companies ranging from CAD/CAM, docu- MyPerfectGig, rPath, and Unidesk. He is still actively
ment management, workflow, imaging and collaboration, investing in SaaS, virtualization, cloud computing, and
security, and analytics, and spanning the minicomputer, open source.
workstation, PC, client server, and Internet areas. He
Alan Spoon
Managing General Partner, Polaris Venture Partners
Alan Spoon is a Managing General Partner in Polaris’ of TechTarget, Matrics, and Cushcraft (wireless anten-
Boston office. He joined Polaris in 1996 as an early advi- nae). His other Polaris investments include Internet
sor and initial investor. He focuses on investments in Brands, AWS (Weatherbug), and ARPU. Mr. Spoon
information technology, with emphasis on revenue-stage brought more than 20 years of operating, strategy, and in-
companies, digital media, e-commerce, and distance vestment experience to Polaris. He earned his SB at MIT,
learning. Mr. Spoon represents Polaris as a director of an SM at MIT’s Sloan School of Management, and a JD
Art.com, Ice.com, LegalZoom, LRN, Phreesia, and The with honors from Harvard Law School.
HealthCentral Network. He was previously on the board
Edward A. Sullivan Jr.

Partner, KPMG
Ed Sullivan is an audit partner in KPMG’s New England both domestic and multinational. His industry knowl-
Information, Communications, and Entertainment edge includes software, electronics, communications, me-
practice. He has more than 20 years experience provid- dia, Internet, and professional services. In addition to his
ing financial statement audit and audit of internal control client responsibilities, Mr. Sullivan serves as the Partner-
services as well as advising clients on a wide range of In-Charge of the New England Employee Benefit Plan
business and regulatory matters in his role as auditor. Mr. Audit practice and the Venture Capital practice for the
Sullivan specializes in working with both publicly and KPMG New England region, responsible for business de-
privately owned companies at all stages of development, velopment and practice management.
David Topper
Vice Chairman, J.P. Morgan
David Topper joined J.P. Morgan in 2005 and is a Vice Markets coverage of the media and telecom sectors.
Chairman of Investment Banking. His responsibili- During his time in Equity Capital Markets, he worked
ties cover the common stock, derivative markets, and on IPOs in the airline, media, telecom, technology, re-
syndicate functions. Prior to joining J.P. Morgan, he tail, and financial services sectors. Mr. Topper holds a
spent 22 years at Morgan Stanley, where he was Co- BA from Duke University and an MBA from Stanford
Head, Managing Director, and Chairman of the Equity University.
Commitments Committee from 2001-2005. Prior to
that, Mr. Topper was responsible for the Equity Capital
Mark Zanoli
Managing Director, J.P. Morgan
Mark Zanoli’s 15 years of investment banking experience include Uni-Solar, LDK, and Ascent Solar, among others.
includes M&A, raising public equity through IPOs and Within the technology sector, his clients include Cisco,
secondary offerings, raising private equity for public and Symantec, Hewlett-Packard, and Apple, among others.
private companies, raising high-yield debt, loan, and bank Mr. Zanoli is a graduate of UC Santa Barbara.
syndications, convertible equity financings, and a variety
of derivative financings. As head of the clean technol-
ogy investment banking practice, Mr. Zanoli’s clients
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The 2009
AlwaysOn East 100
Top Private
Companies
The East Coast startup community
is alive with vibrant technology
innovations.
AlwaysOn is excited to present the 2009 assets as well as private company securities.
AlwaysOn East 100 Top Private Companies. The greentech sector continues to deliver use-
In the face of worldwide market woes, the East ful, sustainable products from solid companies.
Coast’s nose-down, business-minded entrepre- Category winner Hycrete has developed an
neurs are using new technologies to turn eco- additive that not only makes concrete water-
nomic challenges into growth opportunities. proof, it lengthens the life of the world’s most-
Cloud computing is exploding with startups, used building material.
bringing new ways to reduce infrastructure costs SaaS and enterprise companies are reinvent-
and boost efficiency. Category winner rPath is ing themselves as the open revolution proceeds
building “virtual appliances” that can be used to apace, and the cloud continues to expand.
create and deploy applications. The appliances HubSpot is a marketing software service that
live in the cloud, while the apps work in any helps companies get discovered online and con-
environment: traditional, virtual, or cloud. verts leads into customers by leveraging search-
Our consumer category winner, ScanBuy, engine optimization and social media, blog-
developed a nifty little application that repre- ging, and intelligent analytics.
sents big money-making potential to advertisers and mar- Finally, as more and more of the world goes mobile, the
keters eager to get their products in front of the vast mobile wireless category is spawning hardware innovations that
market. After downloading ScanLife to a camera phone, push the limits of the device and bring a new era of con-
the app can scan any 2D barcode and link up to the prod- nectibility to the masses. Skyhook Wireless combines
uct’s information on the Web via the user’s smartphone. GPS, cell-tower, and WiFi technology in mobile phones to
In digital media, Buddy Media is developing widget apps enable pinpoint geolocation. Apple is licensing Skyhook’s
for social networking sites like Facebook and MySpace. technology in the iPhone, opening up a whole new market
Armed with a client list that includes Bud Light, Fox News for mobile applications based on precise geo-location.
Channel, Reebok, Priceline, Paramount, Chevy, Bacardi, The AlwaysOn East 100 represents the best of the boom-
and HBO Comedy Club, the company boasts that its first ing startup community on the East Coast. The list was
seven apps were downloaded more than 500,000 times and selected from hundreds of nominations from technology
accessed by millions in just a few days. insiders, venture capital gurus, and industry players. We
Our overall winner SecondMarket is giving secondary congratulate the winners and look forward to seeing their
market investors a new, robust platform for trading illiquid growing impact on the entire technology economy.
2009
AlwaysOn
East 100 category
Etsy
Overall Cloud and www.etsy.com
Winner
Infrastructure GameLogic
AlwaysOn East 100 rPath
www.gamelogic.com
Overall
www.rpath.com 2009 GamerDNA
HQ:Raleigh, NC AlwaysOn www.gamerdna.com
CEO: Billy Marshall East 100
Founded: 2005 Category
Winner Kayak
Winner
Employees: 45
www.kayak.com
Investors Include: North Bridge Venture
Partners, General Catalyst Partners,
Wakefield Group
Live Gamer
livegamer.com
Acronis Modiv Media

SecondMarket
HQ: New York, NY www.acronis.com www.modivmedia.com
CEO: Barry Silbert
www.secondmarket.com
Year Founded: 2004
Employees: ca. 100 Business myYearbook
Instruments www.myyearbook.com
Investors Include: FirstMark Capital, Pequot Ventures www.business-instruments.com
Open Sports
AO Take: SecondMarket is an online trading platform that provides a
central market where private companies and their employees can sell C-nario www.opensports.com
www.c-nario.com
stock. The company also works with investors on executing private and
public illiquid-asset transactions. It serves a wide variety of financial Outside.in
institutions as well as individual investors, and currently claims about Core Security outside.in
3,000 participants that collectively manage more than $1 trillion in www.coresecurity.com
assets available for investment. OwnerIQ
The secondary market already provides a way for founders,
employees, and VCs to get their money out of a startup. SecondMarket
Dataupia owneriq.net
www.dataupia.com
provides a robust platform for buyers and sellers to connect—in return for Searchandise
putting the investors and shareholders together, the company collects
2% fee from each side. The environment is designed to give companies GlassHouse Commerce
more control over how they sell their stock and to whom. www.glasshouse.com www.searchandise.net
The delay of many venture-backed exits is bringing business to the
secondary market. A delay in exit means VCs can’t get their cash out of
the initial investment and either repay investors or look for new
LogMeIn SelectMinds
secure.logmein.com www.selectminds.com
opportunities. Additionally, employees at startups who took low salaries
in return for equity stakes are looking for a way to realize a return on their
“sweat” investments.
Milabra TheLadders
www.milabra.com www.theladders.com
Unregistered securities of private companies often disclose meager
financial information, so the risk in purchasing them is high. Only a small
pool of accredited investors and qualified institutions can trade in Parature TidalTV
unregistered securities. www.parature.com www.tidaltv.com
These buyers must be
sound enough to invest in
high-risk businesses,
Viewdle TurnTo Networks
www.viewdle.com www.turnto.com
where little public
information is available.
The company runs WorkLight Weplay
several markets for myworklight.com www.weplay.com
illiquid assets, including
ones for restricted public
equities and bankruptcy
category category
claims. Most recently, it
created a market for
banks to find buyers for
Consumer Digital Media
troubled assets such as
mortgage-backed
securities and
Scanbuy Buddy Media
www.scanbuy.com 2009 www.buddymedia.com 2009
collateralized debt HQ:New York, NY AlwaysOn
obligations. HQ:New York, NY AlwaysOn
CEO: Jonathan Bulkeley East 100 CEO: Michael M. Lazerow East 100
SecondMarket took a first Founded: 2000 Category
Winner Founded: 2007 Category
round of funding from Employees: > 15 Employees: ca. 10 Winner
FirstMark Capital back in
2007. As it looks toward Investors Include: Hudson Ventures, Investors Include: Softbank Capital,
the future, SecondMarket Longworth Venture Partners, Masthead European Founders Fund, Greycroft
is committed to giving Venture Partners Partners
startup companies a
platform they can use to
communicate with their
CafeMom AdMeld
www.cafemom.com www.admeld.com
shareholders and
connect with buyers they Barry Silbert
might not otherwise have CEO of SecondMarket CityVoter Appssavvy
discovered. cityvoter.com www.appssavvy.com

The 2009 AlwaysOn East 100 Venture Summit East 2009
BrightLine iTV category category

Boomi
www.brightlineitv.com Enabling Tools Green www.boomi.com
Conductor and Devices Endeca

www.conductor.com
Hycrete www.endeca.com
SecondMarket www.hycrete.com
2009
eXelate www.secondmarket.com
2009
HQ:Carlstadt, NJ
CEO: David Rosenberg
AlwaysOn
East 100
Landslide
www.exelate.com HQ:New York, NY AlwaysOn Founded: 2005
www.landslide.com
CEO: Barry Silbert Category
East 100 Employees: > 50 Winner
GorillaSpot Founded: 2004
Employees: ca. 100
Overall
Winner Investors Include: NGEN Partners,
Tangoe
www.gorillaspot.com www.tangoe.com
Rockport Capital Partners, NJTC Venture
Investors Include: FirstMark Capital,
Fund, Mohr Davidow Ventures
Innovid Pequot Ventures Trust Digital
www.innovid.com
AdaptiveBlue Advanced www.trustdigital.com
Media6° www.adaptiveblue.com Electron Beams

www.media6degrees.com www.aeb.com
Amadesa BPL Global
category
MediaBank www.amadesa.com
www.bplglobal.net
Wireless
www.mbxg.com
AvVenta Coaltek Skyhook Wireless
Medialets www.avventa.com
www.coaltek.com www.skyhookwireless.com
www.medialets.com 2009
Clearspring GreenFuel
HQ:Boston, MA
AlwaysOn
Mindset Media Technologies
CEO: Ted Morgan
Founded: 2003 East 100
www.mindset-media.com www.clearspring.com Technologies Employees: 30 Category
Winner
www.greenfuelonline.com
NameMedia Emo Labs Investors Include: Common Angels, Bain
Capital Ventures, Intel Capital, RRE
namemedia.com www.emolabs.com IST Energy Ventures
www.istenergy.com
Peer39 EveryZing AirClic wireless
www.peer39.com www.everyzing.com Poseidon www.airclic.com
Pontiflex Resources
www.pontiflex.com
Invention Machine www.poseidonresources.com Apperian
www.invention-machine.com www.apperian.com
Pulse 360 Premium Power

www.pulse360.com
Kaltura www.premiumpower.com Aylus Networks
kaltura.com www.aylus.com
Spongecell Recycled Energy

Laser Light Development Azuki Systems
spongecell.com
Engines recycled-energy.com m.azukisystems.com
Tremor Media www.laserlightengines.com

Renaissance Cellufun
www.tremor.com
LucidMedia Lighting www.cellufun.com
Vibes Media www.lucidmedia.com

www.renaissancelighting.com
Kirusa
www.vibes.com
MediaUnbound Suniva www.kirusa.com
Vibrant Media www.mediaunbound.com

www.suniva.com
Mformation
www.vibrantmedia.com
News Patterns Zymetis Technologies
Visible Measures www.newspatterns.com
www.zymetis.com www.mformation.com
www.visiblemeasures.com
Pixtronix MocoSpace
Viximo www.pixtronix.com
category
www.mocospace.com
www. viximo.com
Sand 9 Saas and Quattro Wireless
www.sand9.com www.quattrowireless.com
Enterprise
SiCortex Sense Networks
www.sicortex.com
HubSpot www.sensenetworks.com
2009
VideoIQ www.hubspot.com
HQ:Cambridge, MA AlwaysOn
www.videoiq.net CEO: Brian Halligan East 100
Founded: 2006 Category
Winner
Employees: 75
Investors Include: Matrix Partners,

General Catalyst Partners
Aveksa
www.aveksa.com
Remove obstacles, and your
path to success is clear.
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Driving Business Advantage Learn more at foleyhoag.com.
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Event Sponsors
Bridge Bank
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Business Wire, a Berkshire Hathaway company, is utilized by tens of thousands of member com-
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Cook Associates is a retained Executive Search and M&A Advisory Services firm. Our core
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Foley Hoag
Foley Hoag LLP is a leading national law firm in the areas of dispute resolution, intellectual prop-
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Forbes.com (www.forbes.com), home page for the world’s business leaders and the No. 1 busi-
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Finance Blog Network—together reach 40 million business decision makers each month.
Goodwin Procter
Goodwin Procter is one of the nation’s leading law firms, with a team of 900 attorneys serving
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J.P. Morgan
As one of the world’s premier investment banks, J.P. Morgan serves the needs of our clients by
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the words of one of our founders, doing “only first-class business... in a first-class way.”

Event Sponsors Venture Summit East 2009
KPMG
KPMG’s Venture Capital Practice offers a range of services specifically designed to help ventured-
backed companies navigate each stage of development from inception to market leader. Our ser-
vices are delivered by seasoned professionals who are experienced and dedicated to assisting clients
through the myriad challenges faced in founding and growing a new venture. KPMG can assist
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Compliance, Revenue Recognition, Tax Planning, IPO, Stock-based Compensation, IT Risk and
Controls, Corporate Governance, Internal Controls, Merger and Acquisition, and Globalization.
LEWIS
LEWIS is a global public relations consultancy. Founded in 1995, the agency works with leading
and emerging brands in the most demanding industry sectors around the world. Why is LEWIS
different? In short: culture, reach and approach. The agency combines a strong media culture
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dictable cost.
NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world’s largest exchange company. It delivers trading,
exchange technology and public company services across six continents, and with over 3,900
companies, it is number one in worldwide listings among major markets. NASDAQ OMX offers
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the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. The company
offers trading across multiple asset classes including equities, derivatives, debt, commodities,
structured products and ETFs. NASDAQ OMX technology supports the operations of over 60
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Nordic Exchange is not a legal entity but describes the common offering from NASDAQ OMX
exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more
information about NASDAQ OMX, visit www.nasdaqomx.com.
PlanetTran
PlanetTran is a pioneering “eco-livery” service company and the nation’s first transportation
service based exclusively on environmentally-friendly hybrid vehicles. Founded in 2003 by Seth
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Revolution Partners
Revolution Partners, a division of Morgan Keegan & Company, is the nation’s largest middle mar-
ket investment bank focused on technology companies. We provide Mergers & Acquisitions and
Private Capital Fundraising Advisory Services as well as complete public equity capital markets
services. Revolution Partners was founded in 2001 by former senior technology bankers from major
Wall Street investment banks. With offices in Boston, New York, Los Angeles, and San Francisco,
Revolution applies partner-level experience to the successful execution of advisory and financing
transactions for emerging technology companies in industry sectors including software, Internet,
business services, telecommunications, wireless, clean tech, digital media, storage, and semicon-
ductors. For more information, please visit www.revolutionpartners.com.
38 offices worldwide
8 US offices
one approach
Event Sponsors Venture Summit East 2009
Ropes & Gray

Opportunities and challenges face today’s technology companies at each stage of growth, from
business plan development to evaluating, negotiating and structuring financial transactions.
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vestments. We stay abreast of the evolving investment standards and market terms, and be-
come intimately familiar with the economic and business realities of each deal we play a role in.
Representing both early stage technology companies and venture capital investors allows us to
offer legal insight toward obtaining appropriate terms while cultivating long-term relationships.
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SecondMarket
Founded in 2004, New York-based SecondMarket, Inc. (Member FINRA | MSRB | SIPC) is
TM
the largest centralized marketplace for illiquid assets, such as auction-rate securities, bankruptcy
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financial institutions, hedge funds, private equity firms, mutual funds, corporations, and other
institutional and accredited investors that collectively manage $1 trillion in assets available for
investment.
Silicon Valley Bank

Silicon Valley Bank is the premier commercial bank for companies in the technology, life sci-
ence, venture capital/private equity and premium wine industries. SVB provides a comprehen-
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is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), with SVB
Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the
company can be found at www.svb.com.
ShotSpotter
ShotSpotter, Inc. is the leading developer of mission-essential acoustic surveillance systems. Its
flagship product, the ShotSpotter Gunshot Location System (GLS), has pioneered the use of wide-
area acoustic surveillance coupled with audio analytics for public safety, homeland security, and
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many cities and counties nationwide, consistently producing arrests and weapons confiscations.
Information about ShotSpotter can be found at www.shotspotter.com.
good connections
where high tech meets high finance
160 lawyers work with nearly 500 life sciences and tech sector
companies and 200 venture capital and private equity clients
to connect ideas with capital, bring innovative products and
services to market, and create market leaders.
Get connected at www.goodwinprocter.com.
900 Lawyers | Boston | Hong Kong | London | Los Angeles | New York | San Diego | San Francisco | Silicon Valley | Washington DC
Affiliate Partners
BoogarLists
With a qualified directory of more than 1,800 Venture Capital and Mid-Market/LBO private eq-
uity firms, BoogarLists is an excellent place for entrepreneurs to begin their search for investment
capital. Whether starting a new company or striving to take an early stage company to the next
level, CEO’s and CFO’s will invariably want to seek out new sources of capital or other financial
services. Additionally, BoogarLists provides an extensive directory of financial, operations and
marketing services, as well as a comprehensive directory of conferences and associations, across
the technology, media and communications industries.
Boston Entrepreneurs’ Network (ENET)

The Boston Entrepreneurs’ Network (ENET) provides early stage technology-based
Entrepreneurs with information and the resources necessary to transform an idea into a success-
ful product or service business. Since 1991, ENET has delivered programmed monthly meetings
targeted for the entrepreneur on what it takes to start, grow, and get a company to thrive. These
monthly meetings, from September through June (along with ENET’s annual July sunset net-
working cruise of Boston Harbor), bring together Entrepreneurs, Investors, Management Team
Candidates and Service Providers for networking, exchange of ideas and starting technology-based
businesses and enterprises in the greater Boston area and New England region
Boston World Partnerships

P A R T N E R S H I P S Boston World Partnerships is a new, non-profit organization, created by Mayor Thomas M.
Menino, to raise global awareness of Boston as one of the world’s foremost centers of intellectual
capital and innovation, offering tremendous competitive advantages to growth-minded businesses.
BWP generates high-quality leads for economic growth. Each high-quality lead represents a spe-
cific, actionable opportunity to create jobs, attract a business, strengthen an existing Boston busi-
ness, support entrepreneurship, or enhance workforce development. To achieve these goals, BWP
is creating a global community of people who have ties to Boston’s economy, similar to an alumni
organization. This network will exist around an information-rich website and an array of social
media tools, as well as events here and abroad where Boston professionals can come together to
share ideas, insights, and other resources.
Conference Guru
Conference Guru reviews thousands of conferences to find great conferences and establishes part-
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great price. Sign up for our eblasts to get the inside scoop on all the conferences you need to be at
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com. Conference Guru—Great Conferences. Great Prices.
Evolution Advisors
Evolution Advisors LLC is a boutique Boston-based investment bank helping seed and growth
stage companies with debt and equity financing transactions and growth stage companies with
mergers and acquisitions. Evolution Advisors has deep experience working with young companies
looking to quickly and successfully execute on a strategic transaction in order to grow and thereby
compete and succeed in today’s rapidly shifting marketplace.
The Executive Council

The Executive Council is New York’s premier business forum for senior executives, their advisors,
and capital markets professionals to network in a highly collaborative and stimulating environ-
ment. Through its member base of 3,500 New York metro business leaders, the organization has
built a reputation for highly acclaimed conferences, executive education programs, and member-
hosted gatherings that focus on critical business and leadership issues at the forefront of corporate
America today. www.execcouncil.org
Larta Institute
Larta Institute is a professional services firm providing commercialization and technology transfer
services for governments, companies, and universities around the world. We accelerate the transi-
tion of cutting-edge technologies to the marketplace by connecting innovators to investors and
connecting people to drive innovation
industry partners. Our programs leverage our extensive network of relationships and resources.
Larta Institute’s mission is to increase economic development through the improved transition of
scientific and technological breakthroughs from the laboratory to the marketplace, where they can
solve problems, enhance economic opportunities, advance medical care, and better people’s lives.
Larta Institute is an independent, private, nonprofit 501(c)(3) corporation registered in the State of
California.
Mass Information Technology Exchange (MITX)

MITX is the leading industry association in the country, bringing together the digital technology,
marketing and media community to engage in what is next for the web and how it will impact the
marketing and business worlds. With 250 plus member companies, MITX represents over 6,000
technology, marketing and media professionals in New England. www.mitx.org
Massinvestor
VC MASSINVESTOR
Venture Capital Directories Massinvestor is the leading publisher of Venture Capital Directories. The firm’s national
Directory provides authoritative coverage of more than 3,200 investment firms. Additionally,
Massinvestor publishes nine regional VC guides for Silicon Valley, New York, Southern
California, Massachusetts, Texas, Southeast, Mid-Atlantic, Rocky Mountain and Midwest. More
information can be found at www.massinvestor.com.

Affiliate Partners Venture Summit East 2009
New England Clean Energy Council (NECEC)

The New England Clean Energy Council’s mission is to accelerate New England’s clean energy
economy to global leadership by building an active community of stakeholders and a world-class
cluster of clean energy companies. The Council represents a diverse set of stakeholders, includ-
ing clean energy companies, venture investors, major financial institutions, local universities and
colleges, industry associations, area utilities, labor and large commercial end-users. The Council’s
ranks include 50 clean energy CEOs, representatives from most of the region’s top 10 law firms,
and partners from over a dozen of the region’s top venture capital firms (with a total of over $8
billion under management). Working with its stakeholders, the Council develops and executes
a wide array of programs in five key focus areas: Innovation, Growth, Education and Training,
Adoption, & Policy. Please visit www.cleanenergycouncil.org for more information.
New England Venture Capital Association (NEVCA)

Established and run by venture capital investors in New England, New England Venture Capital
Association (NEVCA) is the region’s premier organization for the venture capital industry.
NEVCA’s mission is to promote venture capital investing and entrepreneurship in New England.
NEVCA represents the interests of venture capital firms with investment initiatives in New
England to promote economic growth throughout the region. With more than 700 venture capital
professionals from 100 firms, our members collectively manage more than $50 billion in capital.
New England Venture Network (NEVN)

Founded in 1999, the New England Venture Network is dedicated to cultivating sustained relation-
ships among the top venture capitalists and limited partners in the region and beyond. NEVN is
the largest young venture capital network on the east coast. NEVN founded the first social net-
work built exclusively for venture capitalists at www.VentureNetwork.VC.
Polachi
Polachi (www.polachi.com) provides Access Executive Search services to technology, life sciences,
clean tech, venture capital and private equity clients. The firm’s partners and principals, all search
industry veterans with decades of experience, understand that leading companies deserve access to
the absolute best talent on the planet. While traditional executive search firms limit candidate ac-
cess due to “off-limit” protocol, and newer search firms lack the breadth and depth of connections,
Polachi’s Access Executive Search model, coupled with unmatched agility, delivers the most accel-
erated results. Polachi is a sponsor of the New England Clean Energy Council (NEIC). For more
information please call 508-650-9993 or visit www.polachi.com.
Stay in MA
Stay in MA is a scholarship program for Massachusetts-based college students funded by
Flybridge Capital Partners. The program is focused on fostering entrepreneurship and innova-
tion between students and the local business community by providing financial assistance to stu-
dents interested in joining or attending the events of technology and business organizations in the
region.
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Affiliate Partners Venture Summit East 2009
TechAmerica
TechAmerica is the leading voice for the U.S. technology industry, which is the driving force be-
hind productivity growth and jobs creation in the United States and the foundation of the global
innovation economy. Representing approximately 1,500 member companies of all sizes from the
public and commercial sectors of the economy, it is the technology industry’s largest advocacy
organization and is dedicated to helping members’ top and bottom lines. The association provides
companies of all sizes with a robust suite of services including investor conferences, local network-
ing and professional development events, active committees tackling industry challenges and op-
portunities and member discounts on products and services. TechAmerica is also the industry’s
only grassroots-to-global advocacy network, with offices in state capitals around the United States,
Washington, DC, Europe (Brussels) and Asia (Beijing). TechAmerica was formed by the merger
of AeA (formerly the American Electronics Association), the Cyber Security Industry Alliance
(CSIA), the Information Technology Association of America (ITAA) and the Government
Electronics & Information Technology Association (GEIA). Learn more at www.aeanet.org or
www.itaa.org.
The Capital Network (TCN)

The Capital Network (TCN) is Boston’s largest non-profit providing education, resources and a
community to entrepreneurs seeking early-stage investment. As a hub of entrepreneurship in New
England, we help connect entrepreneurs, angel investors, venture capital, enterprise customers,
strategic investors, state and federal agencies, educational institutions, students and sponsoring
service providers around issues of early stage finance. TCN programming offers a mix of formal
and informal skill building sessions combined with deep opportunities to connect with entrepre-
neurs, active investors and sponsors. Through large breakfast roundtables, intimate deep-dive topic
lunches, and industry special events TCN provides the tools necessary for entrepreneurs to build
their fundable business and financiers the opportunity to find their next best investment.
The Tradeshow Coach

The Tradeshow Coach develops state-of-the-art workshops, presentations and coaching to help
organizations maximize efficiency and profitability from their trade show investment, nationally
and internationally. State-of-the-art workshops/seminars, presentations and consultation focus on
providing the latest proven techniques to increase confidence and produce results in the challeng-
ing and unique trade show environment. Many of these presentations are conducted remotely via
teleseminars, and webinars. The Tradeshow Coach also sells information in the form of books,
ebooks, and recordings of programs. www.thetradeshowcoach.com
The Venture Investors Association of New York (VIANY)

The Venture Investors Association of New York (VIANY) is an exclusive non-profit industry
association open only to senior level professionals from private equity and venture capital firms
in the greater New York area. VIANY’s objective is to foster regular communication amongst
its members so they remain at the forefront of the latest developments in deals and investing.
VIANY hosts a variety of events each year for its members. Some have an educational compo-
nent featuring a speaker or panel whose expertise has significant value to our members, and all of
VIANY’s events are structured to allow ample time for networking. www.viany.org
Women in Technology International (WITI)

WITI is the premiere global organization empowering women in business and technology to at-
tain their professional goals and dreams. With a global network of smart, tech-savvy women,
WITI has powerful programs and partnerships that provide connections, resources, opportunities
and a supportive environment. Since 1989, WITI has delivered value to individuals, small busi-
nesses, and corporations. www.witi.com. Build. Empower. Inspire.
Program and
Speakers
Wednesday, May 20 Thursday, May 21, 2009
5:00pm Salon I 8:45am Salon I 10:00am Salon II
Opening Remarks Keynote: The Economic Crisis CEO Showcase Session — Enabling
Marc Sternberg, President & COO, AlwaysOn & Venture Capital Tools, Applications & Services
William Sahlman, Professor of Business Presentations by CEOs of the hottest companies in
5:15pm Salon I Administration & Sr. Associate Dean for this sector, emceed by Ezra Roizen, Contributing
External Relations, Harvard Business School Editor, AlwaysOn
Announcing the AlwaysOn East 100 Richard Cope, CEO, NanoLumens
Marc Sternberg, President & COO, AlwaysOn 9:15am Salon I Greg Brogger, CEO, SharesPost
Brian Hughes, Partner, KMPG Jason Carlson, CEO, Emo Labs
The Fund-of-Fund Perspective During this session the following industry experts
5:45pm Salon I What are these investors eyeing now? will comment, and thereafter CEOs will be available
Moderator: Raj Marphatia, Partner, Private for 30-minutes of Q&A and demos in the lobby.
Private Company Keynote: Investment Funds Group, Ropes & Gray
The Liquidity Solution Claire Rowberry, Vice President, LEWIS PR
Diana Frazier, Co-founder & Managing Partner,
Tim Draper, Managing Director, Draper Fisher FLAG Capital
Jurvetson 10:45am
Barbara Piette, Managing Principal,
Knightsbridge Break
6:00pm Salon I John Dominguez, Partner, Silicon Valley Bank
Capital
Addressing the Private-Company Scott Myers, Managing Director, Cogent Partners
11:00am Salon I
Liquidity Crisis The Green in Green
Entrepreneurs discuss creating markets for private 9:15am Salon II Which greentech sectors have high potential for
stocks, LP interests in VC funds, and VC invest- investors in 2009 and beyond?
ments in private cos. Strategic Investment Banking
In a Changed World Moderator: Russ Landon, Managing Director,
Moderator: Michael Moe, co-founder & CEO, Canaccord Adams
Next Global Advisors Will boutiques fill the void left by bulge-bracket firms Chuck McDermott, General Partner, Rockport
Tim Draper, Founder, XChange ducking out in the post-Lehman world? Who’s going Capital Partners
Barry Silbert, Founder & CEO, SecondMarket to profit? Dennis Costello, Managing Director, Braemar
Greg Brogger, Founder & CEO, SharesPost Chris Pasko, Sr. Managing Director, Corporate Energy Ventures
Mona DeFrawi, Founder & CEO, InsideVenture and M&A Advisory Services, Blackstone Aaron Mandell, Managing Partner, GreatPoint
Dan Burstein, Managing Partner, Millenium Tom Gabel, Head of Equity Capital Markets and Ventures
Technology Ventures Institutional Sales, Canaccord Adams Dave Power, Partner, Fidelity Ventures
Hans Swildens, Founder & Principal, Industry Giles McNamee, Partner, McNamee Lawrence &
Ventures Co. 11:00am Salon II
Cristina Morgan, Vice Chairman, J.P. Morgan
CEO Showcase Session --
10:00am Salon I Mobile & Wireless
Presentations by CEOs of the hottest companies in
Beyond Hype: this sector, emceed by Ezra Roizen, Contributing
Top Trends in Computing Editor, AlwaysOn
Software VC investing dipped in ’08 --but some Dan Gilbert, VP Marketing, Avaak
herald open source, SaaS and the cloud as the Next Michael Powers, CEO, Mpowerplayer
Big Thing. Investors identify where real ROI is. Annette Tonti, CEO, MoFuse
Moderator: Rob Noonan, Partner, KPMG During this session the following industry experts
Jeff Fagnan, Partner, Atlas Venture will comment, and thereafter CEOs will be available
Bob Hower, General Partner, ATV for 30-minutes of Q&A and demos in the lobby.
Michael Skok, General Partner, North Bridge Oscar Jazdowski, Head of Sales, Eastern Region,
Venture Partners Silicon Valley Bank
Sunil Dhaliwal, General Partner, Battery Ventures
Wondering
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Identifying the best investment opportunities in today’s emerging technology and eco-aware
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© 2009, Ropes & Gray llp

© 2009, Ropes & Gray llp
Program Venture Summit East 2009
Thursday, May 21, 2009

11:45am Salon I 2:15pm Salon II 4:00pm Salon II
Report Card: Angel and Early-Stage CEO Showcase Session -- SaaS, The Role of the Independent Director
Investing Enterprise, Cloud & Infrastructure Moderator: Woody Benson, General Partner,
No matter what the economy, early investing is Presentations by CEOs of the hottest companies in Prism VentureWorks
needed to grow innovation. Where’s the potential in this sector, emceed by Ezra Roizen, Contributing John Landry, Managing Director, Lead Dog
2009? Editor, AlwaysOn Ventures
Moderator: Michael Greeley, General Partner, James Andrus, CEO, News Patterns John Egan, Partner and Co-Chair, Technology
Flybridge Capital Partners Dharmesh Shah, Founder & CSA, HubSpot Companies Group, Goodwin Procter
John Landry, Managing Director, Lead Dog Paul Sonderegger, CSO, Endeca Paul Sagan, CEO, Akamai
Ventures Mark Atkins, CEO, Invention Machine Bill Kerrigan, Adviser & Former EVP, McAfee
Elon Boms, Managing Director, LaunchCapital Doron Reuveni, CEO, uTest
Bijan Sabet, General Partner, Spark Capital David Gardner, CEO, Venuegen 4:15pm Salon I
Paul Maeder, General Partner, Highland Capital During this session the following industry experts Corporate Buyers -- Where’s the
Partners will comment, and thereafter CEOs will be available
for 30-minutes of Q&A and demos in the lobby. Action in 2009 and Beyond?
11:45am Salon II Claire Rowberry, Vice President, LEWIS PR Moderator: Paul Deninger, Vice Chairman,
Jane Braun, Senior Relationship Manager, Silicon Jefferies & Company
CEO Showcase Session -- Greentech Valley Bank Don Dodge, Director, Business Development,
Presentations by CEOs of the hottest companies in Microsoft
this sector, emceed by Ezra Roizen, Contributing Richard Palmer, SVP, Corporate Development,
3:15pm Salon I Nuance
Editor, AlwaysOn. During this session the following
industry experts will comment, and thereafter CEOs Corporate Investors and VCs --
will be available for 30-minutes of Q&A and demos Where’s the Action in 2009 and 4:45pm Salon I
in the lobby. Beyond? CEO Showcase Session
Dave Rodriguez, Head of Cleantech Practice, Moderator: Valentin Livada, Professor of
Silicon Valley Bank James Beldock, CEO, ShotSpotter
Entrepreneurship, MIT Seth Riney, CEO, PlanetTran
Lucy McQuilken, Investment Director, Intel
12:30pm – 2:00pm Capital
5:00pm Salon I
Urs Cete, Principal & CFO, Bertelsmann Digital
Lunch Media Investments VC in DC
Sponsored by Foley Hoag Louis Toth, Senior Managing Director, Comcast How can VCs and entrepreneurs tap into Obama’s
Interactive Capital stimulus and policy $$? How will changes in tax, pat-
1:30pm Salon I ent, and reporting regulation affect investors?
3:15pm Salon II
The Venture Capital Hall of Fame Moderator: Elise Zoli, Partner, Goodwin Procter
Sages of the VC Industry describe: Have we been CEO Showcase Session -- R.J. Lyman, Partner, Goodwin Procter
here before, and is this time different? Digital Media & Consumer Internet Nick d’Arbeloff, Executive Director, New
England Clean Energy Council
Moderator: Bill Schnoor, Partner and Co-Chair, Presentations by CEOs of the hottest companies in
Peter Rothstein, Executive-In-Residence, Flagship
Technology Companies Group, Goodwin this sector, emceed by Ezra Roizen, Contributing
Ventures
Procter Editor, AlwaysOn
Art Marks, General Partner, Valhalla Partners Mike Levy, CEO, OPEN Sports
5:45pm Salon I
Alan Patricof, Founder & Managing Director, Eduardo Hauser, CEO, DailyMe
Greycroft Partners Jim Meyer, CEO, Mindset Media Keynote: State of the Capital Markets
Ed Anderson, Managing Partner, North Bridge Steve Rosenbaum, CEO, Magnify.net David Topper, Vice Chairman of Investment
Venture Partners Paul Schaut, CEO, Modiv Media Banking, J.P. Morgan
Dr. Sho Long Chen, CEO, Vweb Corp
2:15pm Salon I During this session the following industry experts
6:15pm Salon I
will comment, and thereafter CEOs will be available
Keynote: Venture Capital -- for 30-minutes of Q&A and demos in the lobby. Reception
The Only Stimulus That Works Claire Rowberry, Vice President, LEWIS PR Sponsored by Goodwin Procter, J.P. Morgan, KPMG
George Gilder Dan Allred, Senior Relationship Manager, Silicon & SecondMarket
Valley Bank
2:30pm Salon I
4:00pm Salon I
VC Survey -- What You’re Telling Us
Ed Sullivan, Partner, KPMG Keynote:
Larry Cheng, Partner, Fidelity Ventures How to Rebuild the Tech IPO Market
Paul Deninger, Vice Chairman, Jefferies &
Company
Program Venture Summit East 2009
Friday, May 22, 2009

9:00am Salon I 10:00am Salon II
Keynote: Keynote:
The Innovation Has Just Begun... How Innovators Lead in a Downturn
Bob Davis, Managing General Partner, Highland Scott Anthony, President, Innosight, an
Capital Partners international consulting firm co-founded with
Clayton Christensen
9:15am Salon I
10:15am Salon II
Media and Entertainment:
Top Investing Strategies Wisdom From the Last Downturn
Venture-capital leaders discuss potential in games, Seasoned innovation-economy veterans describe how
media and ad networks, social sites, and other digital to survive the 2009 downturn
drivers Moderator: Jeff Leopold, Managing Director,
Moderator: Mike Monahan, Partner, KPMG Technology & Communications, Cook
Bob Davis, General Partner, Highland Capital Associates
Partners Ralph Breslauer, CEO, Vertica
Jeffrey Bussgang, General Partner, Flybridge Jaime Ellertson, CEO, Gomez
Capital Partners Gary Greenfield, CEO, Avid
David Beisel, Vice President, Venrock Steve Papa, CEO, Endeca
Amish Jani, Managing Director, FirstMark Alan Trefler, CEO, Pegasystems
Capital Mark Cattini, President, Pitney Bowes Markets
Alan Spoon, Managing General Partner, Polaris Services & Former CEO, MapInfo
Venture Partners
10:45am Salon I
9:15am Salon II
IPOs: A Recovery? How? When? Why?
Private Equity to the Rescue Moderator: Scott Cutler, EVP, NYSE Euronext
How smart money is finding value buying venture- Jeff Hoffmeister, Head of East Coast Tech
backed companies Banking, Morgan Stanley
Moderator: David Lavallee, Managing Director & David Lavallee, Managing Director, Revolution
Co-founder, Revolution Partners Partners
Tony Florence, Partner, NEA Michael Millman, Managing Director, J.P.
Daniel O’Keefe, Principal, North Bridge Growth Morgan
Equity Bill Burgess, Managing Partner, ABS Ventures
Michael Kumin, Partner, Great Hill Partners
James Neary, Managing Director, Warburg Pincus 11:15am Salon II
Brother, Can You Spare 50K?

10:00am Salon I Angel Investing in New England
Mobile: Unlimited Horizons Which sectors hold most promise? Can angels break
From advertising to entertainment content to virtual into capital-intensive greentech and healthtech?
–and actual – goods, the predictions of mobile’s poten- Moderator: Gerard O’Connor, Partner, Foley
tial are limitless. But will they come true? Hoag LLP
Moderator: Mark Lowenstein, Managing Ham Lord, Managing Director, Launchpad
Director, Mobile Ecosystem Venture Group
Andy Goldfarb, Executive Managing Director, Jean Hammond, Co-Leader, Boston Forum,
Globespan Capital Partners Golden Seeds
John Simon, Managing Director, General Catalyst David Verrill, Founder & Managing Director,
Partners Hub Angels Investment Group
Ted Morgan, CEO, Skyhook Wireless Richard Anders, Founder, Mass Medical Angels
Jeff Glass, Managing Director, Bain Capital
Ventures & former CEO, m-Qube 11:30am Salon I
This Well Never Runs Dry: University

IP and Technology Transfer
Moderator: Gabor Garai, Partner and Chair of
Private Equity & Venture Capital Practice and
Co-Chair of Life Sciences Team, Foley &
Lardner
Lita Nelsen, Director, Office of Technology
Licensing, MIT
Ashley Stevens, Executive Director, Office of
Technology Transfer, Boston University
Rosalind Picard, Co-founder & Director, Affectiva
Amir Nashat, General Partner, Polaris Venture
Partners
12:15pm Salon I
Closing Remarks
©2009 Silicon Valley Bank.® All rights reserved. Member of FDIC and Federal Reserve System. SVB, SVB> and SVB>Find a way are all trademarks of SVB Financial Group. Rev. 05-04-09.
The world is banking on
innovation. And so are we.
Every day Silicon Valley Bank clients push the boundaries of
what was previously thought possible. Their innovations make
our lives more efficient, connect people across geographies,
make our environment cleaner and safer, eradicate disease and
improve the quality of life around the world. In the midst of
these turbulent economic times, our innovative clients offer
hope. It is innovation that will help drive an economic recovery
and it is our clients’ vision for the world that will create a better
future. Technology and life science innovation will lead the way.
We’re banking on it.
Oscar Jazdowski, Head of Sales, Venture Capital Practice

2221 Washington Street, One Newton Executive Newton, Massachusetts 02462 svb.com
Phone 617.630.4126 E-mail ojazdowski@svb.com
svb.com
It takes strength and
dedication to succeed.
J.P. Morgan is a proud sponsor of the
Venture Summit East.
© 2009 JPMorgan Chase & Co. All rights reserved.

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alwayson venture summit east 2009 Program Guide

Lean and Green

Meet the New Captains of Innovation

Kathy Eisenhardt, Professor Management to technology, service and investment firms,

For more information, visit AlwaysOn.GoingOn.com

06 Tough Times Inspire Tomorrow’s Success

08 The Return of the Bull

10 Startups Fuel the Future

04 Masthead by AlwaysOn Network, LLC, PO Box 620454, Woodside, CA 94062-

Cover photography by RJ Mickelson

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for VC firms in the next year. Brian Hughes Internet

Ninety-one percent of respondents see M&A activity Mobile 12%

Cleantech 52% Cleantech 7%

Internet services 6% Internet services 8%

Media and digital entertainment 6% Media and digital entertainment 15%

Software 3% Software 13%

Life sciences 11% Life sciences 8%

Mobile 12% Mobile 3%

Telecom and IT 3% Telecom and IT 31%

Infrastructure 7% Infrastructure 15%

0 10% 20% 30% 40% 50% 0 10% 20% 30% 40%

Significant increase 19%

No increase, flat 16%

Media and digital entertainment

Software 13% Modest favorable impact 7%

do you expect total investment to add up in 2009?

on the availability of venture financing

Modest 0 10% 20% 30% 40% 50%

Longer than eighteen months 27%

Not sure 10%

Twelve to eighteen months

Moderate increase 0 10% 20% 30% 40% 47%

No increase, flat 27%

You lead with spirit

VENT URE SUM M IT EA ST 2009 | ALWAY SO N | 15

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VENT URE SUM M IT EA ST 2009 | ALWAY SO N | 17

Hambleton “Ham” Lord

VENT URE SUM M IT EA ST 2009 | ALWAY SO N | 19

Charles J. “Chuck” McDermott

VENT URE SUM M IT EA ST 2009 | ALWAY SO N | 23

Edward A. Sullivan Jr.

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