News Room

Naseeb Networks secures Series B growth capital from ePlanet Ventures
and DFJ to accelerate leadership
Funding demonstrates strong investor confidence in Naseeb’s vision,
technology and market traction

Lahore, Pakistan, January 21, 2008: Naseeb Networks, a leading provider of online recruitment, social networking, classifieds and related services in Pakistan, today announced that it has secured Series B financing from two pre-eminent Silicon Valley venture capital firms, ePlanet Ventures (ePlanet) and Draper Fisher Jurvetson (DFJ).
Naseeb will use the funding to accelerate its growth and leadership position in target markets by investing in sales force and marketing expansion and enhancing its product portfolio.

“We have seen strong growth in user metrics and financial receipts
across our portfolio of online services,” said Monis Rahman, Founder and
CEO of Naseeb Networks. “This funding round provides growth capital and
domain expertise from two clear leaders in global venture capital, which
will enable us to further dominate our target markets and seize emerging
market opportunities.”

The round was led by ePlanet with DFJ participating, pursuant to which
Ayaz ul Haque, Managing Director at ePlanet and Mohanjit Jolly, Director
at DFJ have joined Naseeb’s board of directors.

“We’re excited about the progress and momentum that Monis and his team
have achieved in the market,” said Haque. “Naseeb Networks, through its
portfolio of Internet properties and revenue generating brands including
Naseeb.com, ROZEE.PK and RingPakistan.com, is a leader in a market that
is poised for considerable growth. Our investment in Naseeb will help
the Company build upon its commanding position.” He added that, “The
Company’s business model is consistent with ePlanet’s global replication
emphasis and represents a unique investment to capture the inflection
point in Internet growth in Pakistan.”

Commenting on DFJ’s participation, Jolly said, “Naseeb Networks has done
a phenomenal job of bootstrapping its way to a leadership position. DFJ
is proud to be associated with the Naseeb team. This infusion will not
only cement the leadership position for Naseeb in social media but also
help further catalyze the market in Pakistan and across the global
Muslim diaspora.” He added that, “By providing the best platform for
interaction, collaboration and transaction, Naseeb Networks has the
potential of being a truly significant player with a global footprint,
both factors being hallmarks of DFJ investments.”

Naseeb Networks operates a portfolio of websites including ROZEE.PK and
Naseeb.com. ROZEE.PK is Pakistan’s largest and fastest growing job
portal. The site has delivered over 1.4 Million applications to jobs
posted by 8,800 employers. ROZEE.PK is used by some of Pakistan’s most
sought after employers to recruit human capital, including Mobilink,
Nestle, Oracle, McDonalds, United Bank Limited, Microsoft,
GlaxoSmithKlein, Engro Foods, Mentor Graphics, Teradata, Proctor &
Gamble and others. ROZEE.PK offers employers recruiting solutions
including placement of online job ads, access to powerful CV search
engine technology, online recruitment workflow management tools and
white-labeled corporate job portals.

The company’s flagship Internet property, Naseeb.com, offers matchmaking
and social networking services for the Pakistani and Arab diaspora
communities. With over 1.3 Billion Muslims worldwide, Naseeb.com has
achieved a leadership position in a huge market. The site’s features
include blogging, instant messaging, photo and music sharing, and an
innovative algorithm that matches members based on common cultural norms.

Commenting on the market opportunity, Rahman said, “Pakistan’s current
Internet penetration is around 7.5% compared to India’s 4.5%. With over
USD $500 Million recently invested here in broadband and WiMAX
infrastructure, we are projecting Internet penetration to increase to
around 16% over the next three years. We will leverage our leadership
position to generate cross traffic for other key online services for the
benefit of Pakistan’s vibrant Internet community.”

Naseeb Networks, which has been cash flow positive since 2004, has 42
employees across its offices in Lahore, Karachi, Islamabad and San Jose
and a management team transplanted from Silicon Valley.

ABOUT EPLANET VENTURES

ePlanet Ventures is a leading global venture capital firm headquartered
in Silicon Valley, with international offices in London, New Delhi,
Bangalore, Singapore, Shanghai, and Beijing, as well as a presence in
Hong Kong, Seoul and Tokyo. ePlanet Ventures has funded over 80
innovative high-growth companies world-wide, including landmark deals
Baidu (NASDAQ listing in August 2005, circa. US$12B market cap), Skype
(sold to eBay for approx.US$2.5B in 2005), and Focus Media (NASDAQ
listing 2005, circa. US$6B market cap). ePlanet is one of the leaders in
promoting the cross-border migration of technological innovation,
business models and entrepreneurship. The Firm has made investments in
sectors such as the Internet (consumer Internet, Internet services and
applications), wireless communications and applications, VoIP and other
broadband services, entertainment, semiconductor design, life sciences
and other emerging services sectors. ePlanet also seeks to make
investments in traditional, established industries where business-model
improvements have the power to create category-dominant companies in the
world’s fastest growing markets. The firm has won the China Venture
Capital Association Exit of the Year 2005 for Baidu, and the European
Venture Capital Association Deal of the Year 2005 Award for Skype, and
has been profiled in FORBES Feb 2007 as a ‘Pioneer in Global Venture
Capital”.

ABOUT DFJ

Draper Fisher Jurvetson is the preeminent venture capital firm with
global presence through a network of partner funds, with offices in more
than 33 cities around the world and over $5.5 billion in capital
commitments. DFJ’s mission is to identify, serve, and provide capital
for extraordinary entrepreneurs anywhere who are determined to change
the world. Over the past twenty years, DFJ has been proud to back more
than 300 companies across many sectors including such industry-changing
catalysts as Hotmail (acquired by MSFT), Baidu (BIDU), Skype (acquired
by EBAY), United Online (UNTD), Overture (acquired by YHOO),
Athenahealth (ATHN), EnerNOC (ENOC), Interwoven (IWOV), Four11 (acquired
by YHOO), Parametric (PMTC), and Digidesign (acquired by AVID).

ABOUT NASEEB NETWORKS

Naseeb Networks provides leading community, communications and
e-commerce services to underserved Internet markets. The company
currently enjoys a leadership position in its target markets including
online recruitment (www.rozee.pk), social networking (www.naseeb.com)
and classifieds related services for Pakistan and its associated
diaspora community.

The company commenced operations in 2003 with a seed round from angel
investors including founders and executives from Paypal, LinkedIn,
Excite and Cisco. Naseeb Networks has been profitable since 2004 and
currently has 42 employees at offices in Lahore, Karachi, Islamabad and
San Jose.

Naseeb Networks was founded by Internet entrepreneur Monis Rahman in
2003, when he returned to Pakistan to start the company after a 10 year
stint Silicon Valley. Rahman began his career at Intel Corporation where
was awarded several patents for his innovative work on the Itanium
microprocessor. He went on to co-found eDaycare which was acquired by
ParentWatch in 2000. Rahman has a B.S. in Computer Engineering from the
University of Wisconsin – Madison and did graduate coursework at
Stanford University.

Contact:

Naseeb Networks
Aisha Sarwari, +92.300.454.1851
sarwari@naseebnetworks.com