We are Tian Ge Interactive Holdings Limited (“Tian Ge” or “Group”), founded in July 2008 with headquarter based in Hangzhou. We are one of the largest live social video platforms in China. We develop and operate innovative real-time video technologies that empower users to engage and interact with each other through video, voice, text and exchange of virtual items. As of December 31, 2013, our platform included 26,000 online real-time video rooms spanning across nine live social video communities. Our users meet and stay connected with others who may share similar backgrounds, interests, culture and dialects. Our communities offer a diverse range of room genres including music, talk show, social networking, finance and education. Users may join and engage in real-time activities including karaoke, birthday parties, talent contests, and annual celebrations. In 2013, approximately 5% of our monthly active users went live “on air” using a video camera to engage with other users. Users may select from over 910 different types of virtual gifts and items, and the average monthly virtual goods exchanged in 2013 was more than 5.7billion. Our underlying technology and infrastructure can support up to 100,000 concurrent users per room and up to 50,000 streams of live video per community. According to iResearch, our market share of China’s live social video community in terms of total users spending reached 33.9% in 2013, compared with 23.1% for our closest competitor in the same period of 2012.