I will describe Seeking Alpha’s journey to becoming the largest investor community in the world by giving voice to every investor. Takeaways: 1. Crowdsourcing works 2. Community is powerful

1. ©2014 Seeking Alpha, Inc.; Privileged and Confidential.
©2018 Seeking Alpha, Inc.; Privileged and Confidential.
The future of investment research

2. ©2014 Seeking Alpha, Inc.; Privileged and Confidential.
©2018 Seeking Alpha, Inc.; Privileged and Confidential.
Our mission: Empower investors to
make smarter investment decisions

3. ©2014 Seeking Alpha, Inc.; Privileged and Confidential.
©2018 Seeking Alpha, Inc.; Privileged and Confidential.
Vision: Dominate U.S. investment research
by becoming the most profitable platform
for research providers

4. THE U.S. MARKET FOR
INVESTMENT ANALYSIS
Individual Investors Accredited Investors Investment Professionals
1MM10MM40MM
©2018 Seeking Alpha, Inc.; Privileged and Confidential.
Source: Internal Analytics2018 4

5. SEEKING ALPHA IS
BIGGER THAN THE
ENTIRE SELL SIDE
3,164
©2018 Seeking Alpha, Inc.; Privileged and Confidential.
Source: I/B/E/S; Seeking Alpha InternalAnalytics 5
3,970
Sell-Side Equity
Analysts
Active Seeking Alpha
Contributors

6. § Breadth
§ Quality of Knowledge
§ Discussion Surfaces Better Results
§ Wisdom of Crowds
§ Real Time
CROWDSOURCING
WINS
©2016 Seeking Alpha, Inc.; Privileged and Confidential.
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7. More Articles
More
Comments
More
Readers
More
Contributors
Readers want
contributors for…
§ Broadest
Coverage
§ Multiple
Perspectives
§ Quality
Contributors want
readers for…
§ Influence
§ Feedback
§ Connections
§ Client Leads
STRONG NETWORK
EFFECTS MEANS
WINNER-TAKES-ALL
©2016 Seeking Alpha, Inc.; Privileged and Confidential.
7

8. More Articles
More
Comments
More
Readers
More
Contributors
Readers want
contributors for…
§ Broadest
Coverage
§ Multiple
Perspectives
§ Quality
§ Influence
§ Feedback
§ Connections
§ Client Leads
§ MONETIZATION
Contributors want
readers for…
EVOLUTION OF THE
CONTRIBUTOR VALUE
PROPOSITION
©2016 Seeking Alpha, Inc.; Privileged and Confidential.
8
More $$

9. ©2014 Seeking Alpha, Inc.; Privileged and Confidential.
©2018 Seeking Alpha, Inc.; Privileged and Confidential.
Next step: Empower contributors to
build businesses on Seeking Alpha

10. ©2014 Seeking Alpha, Inc.; Privileged and Confidential.
©2018 Seeking Alpha, Inc.; Privileged and Confidential.
The Investor Marketplace

11. THE MARKETPLACE

12. MARKETPLACE
GROWTH
©2016 Seeking Alpha, Inc.; Privileged and Confidential.
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49 52
56 56 55
59 61 59 61 61 64
66 68 69
73 75 76 76
82
104
120
134
140
145 148
156 159 162
175
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
9/1/2015 12/1/2015 3/1/2016 6/1/2016 9/1/2016 12/1/2016 3/1/2017 6/1/2017 9/1/2017 12/1/2017
MRR
Subscribers
Authors Subscribers MRR (net)

13. ©2014 Seeking Alpha, Inc.; Privileged and Confidential.
©2018 Seeking Alpha, Inc.; Privileged and Confidential.
Thanks for listening!