To elaborate:
The complex plane can be thought of as being made up of two-dimensional geometric transformations consisting of rotation and scaling (Tristan Needham calls such transformations “amplitwists”), with 1 as the identity transformation, and i as a quarter turn anticlockwise, and i^2 = –1 as a half turn. To compose two such transformations, you multiply the scales and add the angle measures of the rotations. Because such operations are linear, you can also break them into a part parallel to 1 and a part perpendicular to 1 (some multiple of i), and multiply two such transformations component-wise, using the distributive law (a + bi)(c + di) = (ac – bd) + (ad + bc)i.
exp z is a complex function which maps (in an angle-preserving way, i.e. conformally) from an infinite two-ended cylinder to a whole plane minus one point (the “origin”). The exp function maps negative infinity on the cylinder to the origin on the plane, and it maps the zero point on the cylinder to a given “unit” point in the plane, and the “zero” circular slice through that point on the cylinder to the “unit circle” on the plane, containing the unit point and concentric with the origin. The coordinate system on the cylinder has 2πi measuring one loop around a circular slice, and 1 pointed along the cylinder axis. The coordinate system in the plane is the customary square grid. Addition of coordinates in the geometry of the cylinder (if you like, rotating and/or sliding the cylinder) corresponds to multiplication of complex numbers (composition of amplitwists) in the plane. That is, exp(w + z) = (exp w)(exp z).
In particular, exp iy for some real number y maps points at distance y along the zero circle in the cylinder to points on the unit circle in the complex plane at a proportional distance around the circle; that is, to rotation operators which correspond to the given angle measure in radians.
So πi is halfway around the zero slice in the cylinder, and exp maps it to the operator in the complex plane corresponding to a half-turn rotation, i.e. exp πi = –1.
The log function is the inverse map, from the plane to the cylinder; it is a multi-valued function because we can make multiple “straight” helical connections between arbitrary points on the cylinder, which wrap around different numbers of times.
Once we have this general concept for how we want the exp map to work, we can work out the details to find that the unique such function is the solution to a particular differential equation f'(z) = f(z), or alternately the Taylor series we are all familiar with, exp z = 1 + z + z^2/2 + z^3/6 + ...