Q2 2014 Public SaaS Comps

Update since last quarter:

• Valuations have continued to cool since the highs in March
• 5/15/14 - Zendesk IPO; Zendesk added to SaaS Stars due to high growth
• 4/4/14 - Opower IPO; Opower added to SaaS and Steady due to limited market size and medium growth expectations