TRANSACTIONAL (cont’d) Common mistakes ● Gross Transaction Volume and Revenue are NOT the same thing → revenue = the $’s you keep! ● User retention is a cohort* metric, meaning it is re-calculated to include each new cohort acquired *Cohort = a group of customers acquired within a given period (usually a 28-day “month”) *Retention can be calculated on a month 2, month 6, or month 12 basis (depending on your business model) 13