TRANSACTIONAL (cont’d) METRIC DEFINITION GROSS TRANSACTION VOLUME Total sales or payment dollar volume transacted in a given period NET REVENUE The portion of GTV that the company recognizes as revenue for services rendered USER RETENTION Percent of customers who go on to make at least one purchase in month 2 (note: this is a cohort metric) PAID CAC Cost per customer acquired through paid marketing channels (total sales and marketing spend in a given month / total customers acquired via paid channels, including via sales, in a given month) 12