TESTIMONIALS

Rich Barton, CEO, Zillow, Inc., former CEO, Expedia, Inc.

"I've worked with TCV for almost a decade. From meeting them initially at Vacationspot.com (which TCV and Expedia invested in back in 1998) through their large PIPE investment in Expedia in 2000 and more recently at Zillow, where they've made an earlier stage investment. You may think you are raising money, but you're not, you are picking a partner. TCV is a group of people whose experience and network are extensive, but who, at the core, are just very good folks who make great partners."

Seth Merrin, CEO, Liquidnet Holdings, Inc.

"Given the amount of money available to invest, the quality and reputation of the firm that invests in your company and ultimately becomes your partner must be one of the main deciding factors. During the courting and due diligence period, where impressions and partner preferences changed daily, TCV impressed us more than any firm we had dealt with. The team certainly worked overtime which included a cross country trip on Christmas Eve to deliver a term sheet in a very tight timeframe. During the ups and downs of the deal negotiations, there was never a question as to the integrity of the TCV team. They did their homework and concentrated on the facts. When they made their decision, the negotiations were conducted from the standpoint of a win-win situation. The real test of the quality of a private equity firm is after the investment is made. The verdict is made based on whether they become involved as a partner, an absentee landlord or a judge. In every respect TCV has proactively offered the resources of their entire firm which we have gladly accepted and sought out. TCV has helped our entry into Japan, performed a critical role in helping us through our first acquisition, assisted us in hiring for some critical positions and has become an invaluable confidant, advisor and partner. Together we continue to grow our business quickly and profitably, creating substantial economic returns for all our investors."

Reed Hastings, CEO, Netflix, Inc.

"TCV is a great partner. They are active and engaged. As a long term partner, TCV has been instrumental in assisting us with securing financing, recruiting team members, facilitating interaction and learning from other ecommerce and media companies, and being a strategic sounding board. In sharing our passion for building a great business, they have rolled up their sleeves and helped us well down the path to success."

Kevin DeNuccio, CEO, Redback Networks, Inc.

"TCV invested in Redback one hour after we came out of bankruptcy. With TCV's $30mm investment, their active board participation and public company operating know-how, Redback pulled off one of the most remarkable turnarounds in Tech industry history resulting in a $2.1B buyout by Ericsson. When they said that they are long term investors, they put their money where there mouth is by purchasing over $60mm of our stock in the open market, showing confidence in our team and our future prospects."

Robert Pines, CEO, INFONXX, Inc.

"TCV is an invaluable member of our team. Their advice on operations, new market launches, strategic acquisitions and capital markets transactions has helped us grow and become a worldwide services provider of directory assistance and enhanced information services. Their technology experience, management expertise and unbiased perspective on the competitive landscape makes them a great resource for the other members of our board and our management team."

Steve Shank, CEO, Capella Education Company

"Technology Crossover Ventures has been a valuable resource to Capella and an asset to our Board of Directors. We appreciate the depth of knowledge the TCV team has of the online world, which is of significant value to us, their understanding of technology trends and their ability to envision the impact technology will have on future consumer preferences. TCV is also a valuable asset at the Board level, providing support, challenge and constructive feedback to the Capella team. This partnership has allowed us to sharpen our strategy to achieve our goal of being an exceptional, exclusively online University, for adult learners."

Phil Pendergraft, CEO, Penson Worldwide, Inc.

"We have found TCV to be an excellent partner. During the initial process, they moved quickly and efficiently through the due diligence and met our aggressive timetable for reaching a letter of intent, closing and funding. They have been supportive throughout their investment, providing excellent leadership on the board, and advice and counsel outside of it. Their guidance has been especially meaningful during our transition from a private company to a public company. Without their partnership and support, we could not have achieved the successes of the past two years."

Ryan Wuerch, CEO, Motricity, Inc.

“TCV has been a tremendous value-added partner to Motricity and have become much more than just institutional investors. When we chose them over several other firms to lead a large round of funding, it was clearly due to the strategic value I believed they'd bring to the company. What was hoped for prior to their investment has definitely been exceeded through their continual strategic involvement and insight. They have deep expertise and a broad network within the wireless and broader technology markets which has led to many valuable industry, customer and partner introductions. They have also been very helpful in identifying and evaluating potential acquisitions as we continue to aggressively expand our business. TCV has been a great partner.”

Greg Butterfield, President and CEO, Altiris

"Jay Hoag and Technology Crossover Venture's (TCV) contribution to the success of Altiris has been significant over the past five years. In 2002 Altiris was the first software company to go public in over 18 months. Their operational experience through that process was invaluable, and the end result was very positive for Altiris due in large part to their strategic help. Since then, they have been instrumental in helping us grow and build Altiris to $230 million in revenue, securing a second round of funding, nine acquisitions, 20 percent operating margin, and recently selling the company to Symantec Corporation for $1 Billion."

Greg Waldorf, CEO, eHarmony, Inc.

"TCV's approach of long-term partnership is apparent from the first pitch through every board meeting. With a helpful and low-key style that lets management run the business, eHarmony has been a clear beneficiary of TCV's wise and patient approach to building value. TCV has been a consistent supporter of the strategic decisions that favor eHarmony continuing as a strong, independent, and enduring company for years to come."

Jeff Clarke, CEO, Travelport Limited

“TCV has proven to be an excellent partner for Travelport. Given their prior successful travel-related investments, we felt that TCV was a good fit for us from the beginning, but they have exceeded our expectations. Strategically, they have brought a valuable perspective and unique insights as a result of their deep knowledge of our industry. They are also refreshingly operations and detail oriented people and work with the entire Travelport team to facilitate customer and partner introductions and assist with recruiting and other operational priorities. We look forward to continuing a long, prosperous partnership with TCV.”