3/7/2016
`
`From A Barn To
`
`’ Forbes ;
`
`
`
`
`
`apreneurs
`
`I
`
`True security outcomes.
`
`CYBER DEFENSE.
`
`From A Barn To
`
`on 2, 2013 @ 11:04 AM
`
`18,055 VIEWS
`
`
`FULL BIIG v
`
`
`
`Karsten Strauss
`FORBES STAFFO
`
`A jo urnafist covering
`leadership, business,
`entrepreneurs and Careers.
`
`FOLLOW ON FORBES 17811
`
`9 in 3 fl >3
`Opinions expressed by Forbes Contributors are
`their own.
`
`http:!fwww.forbes.comlsites:'karstenslraussf20i3l10lO2lfrom-a-barn-to-a-200-million-enterprise-mophieJ¥#5d4be1B2e1b9
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`Prong, Inc. Exh. 1025 p.1
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`1110
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`Prong, Inc. Exh. 1025 p.1
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`
`
`From A Barn To
`
`’ Forbes ;
`
`
`
`
`
`apreneurs
`
`I
`
`True security outcomes.
`
`CYBER DEFENSE.
`
`From A Barn To
`
`on 2, 2013 @ 11:04 AM
`
`18,055 VIEWS
`
`
`FULL BIIG v
`
`
`
`Karsten Strauss
`FORBES STAFFO
`
`A jo urnafist covering
`leadership, business,
`entrepreneurs and Careers.
`
`FOLLOW ON FORBES 17811
`
`9 in 3 fl >3
`Opinions expressed by Forbes Contributors are
`their own.
`
`http:!fwww.forbes.comlsites:'karstenslraussf20i3l10lO2lfrom-a-barn-to-a-200-million-enterprise-mophieJ¥#5d4be1B2e1b9
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`Prong, Inc. Exh. 1025 p.1
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`1110
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`
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`California-based smartphone
`accessory firm is one, and its
`steady sales growth suggests
`they won’t be...
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`From A Barn ToA $200 Million Enterprise: Mophie - Forbes
`
`There aren’t many
`
`multimillion dollar companies
`
`that can say they started up in a barn. Mophie, the Santa Ana,
`
`
`Placing power sources inside the phone case has been a boon
`to Mophfe.
`
`Co-founders Daniel Huang
`
`and Shawn Dougherty kicked
`
`off their enterprise in 2006 as
`
`mstation, making speakers
`
`and cases for iPods and mp3
`
`players. Then located in
`
`southern California, the duo
`
`decided to sidestep their
`
`company’s real estate costs by
`
`setting up shop in Dougherty’s
`
`barn back in Kalamazoo,
`
`http:h‘www.forbes.com:'sites!karstenstrau5s.’2O13'10l02ffrom-a-barn-to-a-Zotxmillion-enterprise-mophief#6d4be162e1b9
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`Prong, |nC. EXh. 1025 P2
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`3/7/2016
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`From A Barn TO A $200 Million Enterprise: Mophie - Forbes
`
`Michigan, to make the best use
`
`of the $250,000 they’d
`
`bootstrapped between them.
`
`“I packed up, I went back to
`
`Michigan, I bought the house
`
`next to my family home and it
`
`had a 3,000 square foot pole
`
`barn on it,” says Dougherty,
`
`M0phie’s C00. Her fami1y’s
`
`barn — and those of friendly
`
`neighbors -— provided added
`
`space for the burgeoning
`
`company’s launch. “We were
`
`dropping containers on the
`
`property.”
`
`ADVERTISING
`
`
`
`http:.'fwww.forbes.corn/3iies/karstenstraussl2013i10/02ffrom-a-barn-to-a-200-million-enterpriso-mophieJ#6d4be162e1b9
`
`Prong, Inc. Exh. 1025 p.3
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`3/10
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`Prong, Inc. Exh. 1025 p.3
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`
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`3/7/2015
`
`From A Barn ToA $200 Million Enterprise: Mophie — Forbes
`
`
`
`in
`
`I
`
`_
`_
`_ __
`__
`Efldgif}"our'fir'st$15-'E’9"3*
`rmmgemeemay
`
`The first year brought in $1
`
`million in sales, selling
`
`predominantly in North
`
`America, and attracted about a
`
`half million dollar investment
`
`from NBA star Carmelo
`Anthony (they later bought
`him out). That capital allowed
`the company to stock up on
`
`inventory, move from
`
`Kalamazoo to Paw Paw and
`
`acquire Mophie in a 2007
`
`asset purchase.
`
`Mophie, an Apple AAPL-1.39%
`
`device accessory company
`
`then generating about $2
`
`million in revenue, opened up
`
`a larger market for mStation.
`
`“What we got from them that
`
`we didn’t have was a global
`
`Apple retail presence,
`
`customers in 60 plus countries
`
`and a diversification into the
`
`case business.”
`
`Recommended by Forbes
`
`uuhesarandwce
`
`With A Big
`Screen? N.
`
`IBM Voice: Four
`3
`F3-SJE
`V\-iavs The lnternet
`http:.'.'www.forbes.comfsitesfkarstenstrauss/2013/10.'02ffrom-a-barn-io-a-200-million-enterprise-mophiel#6d4be162e‘ib9
`
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`3.'7.'2-G16
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`From A Barn To A $200 Million Enterprise: Mophie— Forbes
`
`,
`u
`.
`,
`Oi Thin Will
`I 111.iov'ai.e "l ‘he Retail
`
`l 12 dustry
`
`13>
`
`Huang, now CEO, had
`
`foreseen the integration of
`
`music playback in
`
`smartphones and bet that
`
`when consumers began using
`
`their phones for music — on
`
`top of an increase in email
`
`sending and general use —
`
`those mobile devices would be
`
`starved for power. “Every
`
`device, whether it’s Apple or
`
`Android, smartphone or
`
`tablet, mP3 player or handheld
`
`gaming device, is drawing
`
`battery every moment its
`
`turned on,” he said. A design
`
`for a supplemental power
`
`source, built into the case,
`
`soon followed, just in time for
`
`the release of the iPhone.
`
`h1tp::'.'www.forbes.com.'sitesIkarstenstraussl2013f10/Ozlfrom-a-barn-to-a-200-miIlion-enterprise-mophief#6d4Jbe162e1b9
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`PTOHQ. "10- EXh- 1025 P-5
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`
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`31712016
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`From A Barn To A $200 Million Enterprise: Mophie - Forbes
`
`
`
`Mophie COO Shawn Daugherty
`
`“We knew that the company
`
`was going to almost
`
`immediately begin to move
`
`away from being mStation,
`
`move away from speakers,
`
`move away from just cases and
`
`move into the intelligent case
`
`business,” Dougherty says.
`
`In 2008, with its first iPhone
`
`‘juicepack’ in hand, Mophie
`
`generated approximately $2.6
`
`million in sales. Today the
`
`company builds several
`versions of such cases for the
`
`popular smartphone as well as
`
`products for iPads, Samsung
`
`and HTC HTCCY +% phones, plus
`
`energy packs for mobile
`\-~
`'
`-«.~:.-_ v-=1’
`"
`devices.
`
`
`
`http:/Iwww.forbes.com/sitesIkarstenstraussrzm3I10IO2ffrom-a-barn-1o-a-200-million-enterprise-mophief#6d4be162e1b9
`
`PFONQ.
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`|nC- EXh- 1025 P-5
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`
`Prong, Inc. Exh. 1025 p.6
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`
`
`From A Barn To A $200 Million Enterprise: Mophie - Forbes
`
`Daniel Huang, CEO ofMophie
`
`Private equity firm Beringea
`
`led a $4 million round in 2010.
`
`Jeff Bocan, a partner with the
`
`firm, acts as Mophie’s senior
`
`VP. “First we were in the Apple
`
`Store and most of the revenue
`
`came from Apple and then
`
`Apple premium resellers,”
`
`Bocan explained. The wireless
`
`carriers came next and the
`
`company’s products started
`
`showing up in AT&T T +0.50%
`
`and Verizon retail shops,
`
`followed by larger big-box
`
`stores like Best-Buy and
`
`Target. “Over 85% of our
`revenue are in the U.S. and
`
`Canada and there’s a big world
`
`out there that we have yet to
`
`htip:ffwww.forbes.comfsilea/|<arslenstraussI2013/1U/D2ffrom-a-barn-to-a-200-milIion-enterprise-mophieJ#6d4be162e1b9
`
`PFONQ.
`
`|nC- EXh- 1025 P-7
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`7110
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`
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`317/2016
`
`From A Barn To A $200 Million Enterprise: Mophie - Forbes
`
`spread the Mophie love out
`
`to.”
`
`The next phase of growth is
`
`breaking into international
`
`markets and to do that the
`
`company intends to bulk up its
`
`sales force and invest in
`
`marketing. Offices in the
`
`Netherlands and Hong Kong
`
`are on the way to convince
`
`carriers in Asia and Europe -
`
`as well as established
`
`accessory retailers — to sell
`
`Mophie products.
`
`On the horizon, the company
`
`is focusing on developing
`
`other types of what its
`
`founders call “smart cases.”
`
`Essentially a device case that
`
`has other functions, in
`
`addition to keeping your
`
`phone from damage.
`
`Follow me on Twitter
`
`@KarstenStrauss
`
`Comment on this story
`
`V
`
`/‘ Report Corrections
`
`http::'/www.forbes.com!sitesfkarslenstrauss/2013f10f{J2ffrom-a-barn-to-a-200-million-enterprise-mophie.f#6d4be162e1b9
`
`PTONQ.
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`'00- EXh- 1025 P-3
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`8110
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`Prong, Inc. Exh. 1025 p.8
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`
`
`3/7/2016
`
`From A Barn To A $200 Million Enterprise: Mophie - Forbes
`
`El Reprints & Permissions
`
`See Also:
`
`iPhone Cell Phone Cases
`
`Salnsun Sma.rtPhone Cases
`
` U comin Smart hones
`
`Cool iPhone Cases
`
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`htip:.'lwww.forbes.comIsiteslkarstenstraussl2013110lozffrom-a-barn-to-a-200-milliorrenierprise-mophieI#6d4be162e1b9
`
`Pr°"9v '"°- EXh- 1025 F’-9
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`9/10
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`Prong, Inc. Exh. 1025 p.9
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`
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`317/2016
`
`From A Barn To A $200 Million Enterprise: Mophie - Forbes
`
`Black Woman
`
`Engineer
`
`Launches ‘Blind’
`
`Job Match App
`
`To Take Bias
`
`Out Of Tech
`
`Hiriho
`
`MAR 3, 2016 @ 02:23 PM
`
`\/
`
`ht1p:llwww.forbes_cornfsites/kars1enstrauss!2013/10lozlfrom-a-barn-to-a-200-million-enterprise-mophieJ'#6d4be162e1b9
`
`PT°"9: "10- EXh- 1025 P-10
`
`10/10
`
`Prong, Inc. Exh. 1025 p.10
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