Overall, we saw a step up in both the size of fundraisings and the size of M&A transactions in 2016, with the second highest number of $100mm+ fundraisings—six compared to eight in 2015—and the most $100mm+ exits—ten compared to six in 2015 and seven in 2011. For the year, there was strong activity throughout Digital Content, E-Commerce and Digital Marketing, with $1.16 billion, $1.18 billion, and $547 million raised across the three categories respectively. 2016 did not have any IPOs in Digital NY, following an overall downward trend in tech IPOs. The largest M&A transaction of 2016 was IntraLinks’ sale to Synchronoss Technologies for $902 million; the transaction was completed in December. The largest fundraising for the year was Volkswagen’s $300 million investment in Gett, a mobile taxi app, completed in Q3.