China Internet Users = 668MM, +6% vs. 7% Y/Y...@ 49% Penetration China Internet Users, 2008 – 2015 800 40% 700 35% ) M 600 30% M s ( h ser 500 25% t w U o et 400 20% Gr n er % t n /Y I 300 15% Y a n i h 200 10% C 100 5% 0 0% 2008 2009 2010 2011 2012 2013 2014 2015 China Internet Users Y/Y Growth (%) Source: CNNIC. Internet user data is as of mid-year. KPCB INTERNET TRENDS 2016 | PAGE Hillhouse Capital 166