CommerceHubHistory Date Event description 1997 Frank Poore and Richard Jones found CommerceHub 1999 – CHUB lands QVC as a customer; business Frank Poore 2000 model established (Source: CommerceHub website) 2010 Liberty acquires CommerceHub Richard Jones (Source: CommerceHub website) Caro-Kann Capital LLC 11

CommerceHub: Uniquely Levered to E-Commerce Growth - Page 12 CommerceHub: Uniquely Levered to E-Commerce Growth Page 11 Page 13