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Dear Shareholders,
In 2011, looking at LivePerson from the outside, you might have observed a company that continued its history of delivering strong growth rates and best-in-class operating margins. In 2011, revenue from business operations increased by 24%, income from operations grew by 37%, and our cash position increased by more than 50% to $93 million. As a shareholder, you were probably pleased with these results. However, what you may not have realized was the profound internal transformation that was happening from both a cultural and innovation standpoint.