Overview of Transaction

• On July 17, 2014, CardSpring, an emerging payments infrastructure company, announced its sale to Twitter
• CardSpring was primarily backed by Accel Partners and Greylock
• CardSpring has developed a proprietary platform that enables digital publishers and retailers to work with the payment industry to create a new generation of commerce experiences for hundreds of millions of offline shoppers
• Financial terms of the transaction were not disclosed
• Additional information can be found on the CardSpring and Twitter blog posts

Significance of Transaction

• By joining forces with Twitter, CardSpring will be able to significantly accelerate the intersection of digital media and payments in order to revolutionize how consumers use credit and debit cards
• The CardSpring team and technology will enhance Twitter's ability to bring in-the-moment commerce experiences to its users; the CardSpring acquisition is Twitter's first strategic move into Payments

FT Partners' Role

• FT Partners served as exclusive strategic and financial advisor to CardSpring and its Board of Directors in the sale to Twitter
• FT Partners leveraged its deep industry expertise to provide advisory services throughout the transaction, including strategic direction and introducing CardSpring to financial investors, strategic acquirors and distribution partners
• FT Partners continued its long-term relationship with existing investors Accel (recently sold OZForex for Accel for nearly $500mm) and Greylock on the sale of their joint-controlling equity stake in CardSpring