Here it is!

On Tue, Oct 12, 2010 at 4:45 PM, Alan Eagle <aeagle@google.com> wrote:
Can you forward me the slide? It didn't come through in the attachment.
I have not gotten any response from Andy on the Android talking points I sent to him (you said you had talked to him
in Dublin and gotten a good set of remarks), so this slide may be useful for that.
Alan
On Tue, Oct 12, 2010 at 11 :13 AM, Jonathan Rosenberg <jonathan@google.com> wrote:
cathay, print for my binder. alan use for talking points in future
---------- Forwarded message ----------
From: Andy Rubin <arubin@google.com>
Date: Man, Oct 11, 2010 at 10:57 PM
Subject: Re: BOD question
To: Kristen Gil <kristengil@google.com>
Cc: theoc@google.com
Thank you. Happy to answer questions as necessary. Can make myself available for a demo as well.
-a
On Man, Oct 11, 2010 at 10:46 PM, Kristen Gil <kristengil@google.com> wrote:
Hi Andy (cc: theOC),
Thanks again for putting this response together. Forwarding only to the OC (copied here) in preparation for the Board
meeting.
Thanks,
Kristen
---------- Forwarded message ----------
From: Andy Rubin <arubin@google.com>
Date: Sat, Oct 9, 2010 at 10:27 PM
Subject: BOD question
To: Kristen Gil <kristengil@google.com>
Hi,
HIGHLY CONFIDENTIAL- ATTORNEY'S EYES ONLY Oracle America v. Google, 3:10-cv-03561-WHA GOOGLE-58-00035115
Trial Exhibit 431, Page 1 of 6
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
TRIAL EXHIBIT
CASE NO. 10-03561 WHA
DATE ENTERED
BY
DEPUTY CLERK
431
Enclosed are the slides for the BOD question #2. Please do not distribute -- these detail our partner strategy and
control points for the product we created.
Kristen Gil
M (650) 210-6615
Cathay Bi 1 Assistant to Jonathan Rosenberg 1 Google, Inc. 1 Google Voice: 650-450-9083
HIGHLY CONFIDENTIAL- ATTORNEY'S EYES ONLY Oracle America v. Google, 3:10-cv-03561-WHA GOOGLE-58-00035116
Trial Exhibit 431, Page 2 of 6
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The 5 Business Units each a $1 OB opportunity; Android and
Chrome platforms critical assets for their success
Revenue 2010E
2013E
Search
Coogle
..........
Personal
Mobile
$23.2
8
$348
Specialized I

Display $3.98
admo'l:) $88
d uble
chck ad exchange
The $108 opportunity
Next $10B driven by search "resets"/innovation:
o Personalization: est. $6B+ opportunity in search
o Mobile/Local*: Mobile at $1 B run-rate; Yellow
pages listing market >$15B
o Specialized searches: e.g. a 15% RPM gain in the
finance & travel verticals yields -$1 B add'l revenue
(*Note: local coupons/offers included in Commerce)
o Online display a $23B market, to double in 5 years
o Bet on spend shifting to audience buying
o Today $300B offline spend ($170B TV/ $130B
print) in reach with new ad formats on tablets &
GoogleTV
Assets Progress against opportunity
o Infrastructure, speed & share + Mobile on a tear
o Best-in-world maps, GMM top + Local tags at 20K advertisers
1-3 app + Emerald Sea executing, but viral
o 5.5M claimed Places launch tactics unclear
o ITA and other deep data feeds Huge cross-org coordination required
o Chrome browser growth FaceBook-Bing users may bypass
o >37M Android activations Google
o DFA/Invite/Teracent stack + DSP integration on track
o -2M AdWords + Video and mobile on AdX soon
advertisers a display + 99% of top 1000 Google advertisers
cross-sell oppty spend on Display
o AdX at the core However, flat traffic to AFC/AdX
o Audience/ search data iAd & many others- crowded space

_....... $0.58 o Online video ad market $3B today, >$7B by 2012 o Massive reach, X M users + Ad innovations (TrueView)

---

.a.
Google tv
Commerce
... ,..,
lill ...
BOUTIQUES. com
Enterprise
G.gggle
$58 o Larger opportunity in discovery/ personalization to o Multi-device platform: + Leanback with Google TV, but
deliver TV-like experience across devices Android phones, tablet discovery/ curating/ sharing weak
- Can access $170B TV ad spend and GoogleTV Need to step up content licensing
o $183B eCommerce ($10B+ digital goods)
$0.18 o $937B in online-influenced offline purchases
$58 o Circulars & Coupons $25B mkt (Dir. mail total $50B)
- Groupon est. $3B 2012
$0.78
$28
o Mobile payments market estimate $600B in 2015
o Targeting -$60B global opportunity
-Enterprise SaaS market: 45% CAGR 10-13
o SMBs beginning to adopt the cloud
o PS 18% of shopping starts
o 2.1 M Shopper app DLs
o 4M local merchants via LBC
o Android platform (17M
GED) I NFC soon
o Best cloud infrastructure
o 30M 30DA users, 5M
activated domains
o Google Apps Marketplace
o Chrome & Android platforms
Platforms emerging as critical assets for each business unit 111 Android
deals, risk lock out
+ Shopping in execution mode
+ Books in 04, Video/Music in 01/02
Amazon/Apple huge dig content lead
+ Mobile wallet 01- MC, FDC, Citi
committing $225M POS upgrades
Need Android GED growth
+ Newly hired leaders, dedicated FA
+ SMB product strategy being refined
Revenue growth rate disappointing
Microsoft fiercely defending turf
Chrome
Google Confidential and Proprietary
Trial Exhibit 431, Page 3 of 6
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BACK UP: 2013 estimates ($8)
Business ($B)
Search (incl. Mobile
Search, Local, AFS)
Display (incl. AdMob,
Platforms)
YouTube (incl.
GoogleTV)
Commerce (including
Product Search)
Enterprise
II
11
II
II
$100B
(estimated in
August 2009)
$30.7
$6.6
$4.2
$2.9 (did not
include wallet)
$1.6
II
II
II
J
July 2010 OCQ -
2013 estimate
Not estimated
Not estimated
$5.0
(YT-$2+,GTV-
$3)
$5.1-5.7
ll
$2-6
TOTAL (excludes any other potential revenue from Android/Chrome)
~
Business Drivers
(estimated in
May 2010)
$36.6
$8.5
YT- $1.8
GTV not est.
$5.2
$1.8
II
L
2013
Estimate
chosen
$34
$8
$5
$5
$2
$558
Google Confidential and Proprietary 2
Trial Exhibit 431, Page 4 of 6
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BACK UP: [August 2009] $1008 Executive summary from OC meeting
Updated 5 year stretch projection brings revenue to $468 by 2013 with 19% CAGR; adding $24B revenue from 2009E.
Web Search a third of the growth with 10% CAGR, growing as fast as the online ad space despite declining RPMs. Forecast
from finance.
Most of growth from building additional 7 businesses, each adding >$1 B over next 5 years. Forecasts from PMs may be
aggressive based on current revenue/plans. Commerce has too many owners; social needs more investment (plans &
people)
Local
Mobile
Enterprise
Social I Gmail
TOTAL:
"Search plus 8" businesses
that matter to growth
(including Voice)
Behind in key regions with large ad markets. These include in order of size: Japan, China, South Korea, Brazil, Russia, Czech
and Taiwan .
If forecasts are close to reality, then 97% of our revenue will still come from ads and consumer products. Most breakout ideas
are non-ad related and could diversify revenue.
Not on trajectory to $100 billion in 5 years (-9 years vs 5 years at 19% cagr); Need breakout ideas/ M&A to close the gap
Many good breakout ideas in commerce and enterprise and other but require further definition and lack clear leadership at this
time.
Google Confidential and Proprietary 3
3
Trial Exhibit 431, Page 5 of 6
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BACK UP: [May 201 0] Business Drivers Analysis- Current forecasts
would result in -24/o total revenue growth (09-13 CAGR) to -$56B by
2013
$80B
ESTIMATE I
1 Forecast
$70B
......
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$56.0B
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$40B
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$30B
(9
$20B
$lOB
$0B
2009 2010F 2011E 2012E 2013E

~ e a r c h $ 19.2 $ 22.3 $ 24.6 $ 27.5 $ 30.7
rn
pis play $ 3.2 $ 4.0 $ 5.2 $ 6.7
2
$ 8.5
!'v1obile/ Android
3
$ 0.3 $ 0.6 $ 1.0 $ 2.0 $ 3.4
ffouTube $ 0.3 $ 0.5 $ 0.8 $ 1.3 $ 1.8
~ e a r c h +Execute $ 23.0 $ 27.4 $ 31.7 $ 37.4 $ 44.4
ommerce (Digital Content)
4

7
$ - $ - $ 0.5 $ 1.6 $ 3.5
note- early estimate, still WIP)
ommerce (Prod Ads) $ 0.0 $ 0.1 $ 0.5 $ 1.3 $ 1.7
ocal
6
$ 0.1 $ 0.3 $ 0.9 $ 1.7 $ 2.5
nterprise $ 0.3 $ 0.5 $ 0.7 $ 1.1 $ 1.8
hrome Hardware
4
$ - $ - $ 0.3 $ 0.8 $ 1.6
onsumer Apps $ 0.1 $ 0.2 $ 0.2 $ 0.3 $ 0.5
pther
5
$ 0.06 $ 0.04 $ 0.04 $ 0.04 $ 0.04
otal $ 23.6 $ 28.5 $ 34.8 $ 44.3 $ 56.0
~ S e a r c h 81% 78% 71% 62% 55%
WOYGrowth 21% 22% 27%
Note:
1
CAGR is ('10-'13) for Commerce, ('11 -'13) for Chrome Hardware;
2
2012 OCQ forecast for Display was $6.4B but didn't account for investment
in AFC-text or Adx traction; 'Excludes DTC and Apps (apps included in digital content);
4
Margins are assumed to be much lower than other
businesses (-0% EBITDA margin); 'Includes -20 line items from Hyperion, but excludes -$108M Android DTC Revenue in 2010; Local includes
26%
"Innovate/
Transform"
Businesses
"Execute"
Businesses
Search
YoY
16%
27%
89%
79%
19%
-
363%
118%
42%
-
57%
-32%
21%
('10-'11) ('09-'13)
YoY CAGR
10% 12%
30% 28%
79% 84%
75% 61%
16% 18%
2320% 460%
1
329% 189%
209% 105%
44% 55%
- 145%
1
31% 41%
-5% -11%
22% 24%
revenue from Geo properties only, Local Search included in Search and Local Mobile Ads included in Mobile;
7
Digital Content is GROSS revenue Google Confidential and Proprietary
4
Trial Exhibit 431, Page 6 of 6