USE OF PROCEEDS

We estimate that we will receive net proceeds of $261,663,125 from the sale of the 3,650,000 shares of Class A common stock in this offering, assuming a public offering price of $75.75 per share and after deducting the estimated underwriting discount and offering expenses. We will not receive any proceeds from the sale of the shares that the selling stockholders are selling.

We expect to use the net proceeds to expand our corporate infrastructure and for general corporate purposes, including working capital and capital expenditures. While we cannot predict with certainty how the proceeds of this offering will be used, we currently intend to use them as follows:

- to develop new e-commerce channels;

- to expand our operations internationally;

- to build and enhance the value of our online brands;

- for potential acquisitions and minority investments; and

- for general corporate purposes, including capital expenditures and working capital.

We expect to use a portion of the net proceeds to acquire or invest in complementary businesses or obtain the right to use complementary technologies. However, we have no current commitments or agreements with respect to any of these types of investments. Pending these uses, the net proceeds of this offering will be invested in short-term, investment-grade interest-bearing investments or accounts.

The amounts we actually spend for the above purposes may vary significantly and will depend on a number of factors, including our future revenue and cash generated by operations and the other factors described under "Risk Factors." Therefore, we will have broad discretion in the way we use the net proceeds. See "Risk Factors--Our management may invest or spend the proceeds of this offering in ways that do not increase our results of operations or market share" for more information.