Disclaimer

Madison and Wall is an advisory and consulting firm as well as a provider of data and research to technology, media, retail and services businesses supported by advertising. At times, clients of the consulting and advisory services we provide, or subscribers to our subscription services, may also be discussed or included in the data and research materials provided to subscribers of our information subscription services, to the extent permitted under any confidentiality obligations Madison and Wall may owe to such clients.  This is the result of our clients being participants in the industry on which we provide data and research.  Because of our confidentiality obligations to our clients, we may not identify when such clients are discussed in our published materials.