Internet Continues to Ramp as Retail Distribution Channel = 10% of Retail Sales vs. <2% in 2000 E-Commerce as % of Total Retail Sales, USA, 2000 – 2015 12% $340B+ of E-Commerce Spend ) % ( 10% es al S l ai 8% et R f o 6% ce as % er m 4% m o C - E 2% 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Source: U.S. Census Bureau, Federal Reserve Bank of St. Louis (5/16) Note: E-commerce and retail sales data are seasonally adjusted. Retail sales exclude food services, retail trade from gasoline stations, and retail trade from automobiles and other motor vehicles. KPCB INTERNET TRENDS 2016 | PAGE 60