...China E-Commerce Companies = Gaining Retail Share Faster than USA Peers... Share of China Total Retail Share of USA Total Retail Revenue*, 2010 – 2015 Revenue*, 2010 – 2015 7% 7% 6% 6% s s 5% e 5% e l l a a S Alibaba l Amazon.com S i l a i 4% t 4% a e t JD.com R eBay Re 3% A na S 3% U f Chi o 2% 2% of % % 1% 1% 0% 0% 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 Source: Euromonitor. Note: *Revenue defined as retail value of goods excluding tax, and excluding certain transaction categories such as consumer-to-consumer, motor vehicles & auto parts, tickets, travel bookings, delivery foodservice, returns, and others, hence may differ from company disclosed total revenue or gross merchandise value figures. KPCB INTERNET TRENDS 2016 | PAGE Hillhouse Capital 171