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First Round LP Letter Q4 2015
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6 Source: Twitter reporting, Jackdaw Twitter Q4 2015 Earnings Deck

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6 Source: Twitter reporting, Jackdaw Research analysis
REVENUES BY SOURCE
$ THOUSANDS
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
Q1 2011 Q3 2011 Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015
Advertising revenue Data licensing & Other

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6 Source: Twitter reporting, Jackdaw Research analysis REVENUES BY SOURCE $ THOUSANDS 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 Q1 2011 Q3 2011 Q1 2012 Q3 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Advertising revenue Data licensing & Other

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