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Jay Po
Managing Partner and Co-Founder at Stage 2 Capital
Jay Po is the Co-founder and Managing Partner of Stage 2 Capital, a venture capital firm established in 2018 that focuses on providing go-to-market support for early-stage B2B software companies. Prior to founding Stage 2 Capital, he worked as an investor at Bessemer Venture Partners in New York, where he was involved in sourcing significant investments in various companies, including PhishMe and Weave.12
Po graduated from Harvard University and was recognized in Forbes' 30 Under 30 list in 2022 for his contributions to the venture capital field. At Stage 2 Capital, he co-founded the firm with Mark Roberge, the former Chief Revenue Officer at HubSpot, to address a gap in the startup ecosystem related to revenue growth strategies.134 The firm has seen significant growth, raising multiple funds, including an $80 million second fund and a $150 million third fund, aimed at supporting startups in their scaling efforts.34
Outside of his professional endeavors, Jay Po enjoys exploring boba tea spots and spending time with his dog, Lula.1
Highlights
Stage 2 Capital team ramping up!
Welcome Sakib Dadi! Stoked to have you join our mission to bring the best practices of investing and GTM to the next generation of entrepreneurs. Off to the races! Sakib will be investing in B2B software with a focus on infrastructure, AI, and developer tools. @Founders - reach out!
Grind on
#Stage2 #Investing #GTM
Founder friends - anyone using LTV:CAC to measure sales efficiency and customer value? Don't.
I'll be contrarian here to say why I think it's a useless metric and what to track instead.
TLDR: It's a single calculation that uses 3 variables at a point of time which ignores how customers behavior changes over time and which variables drive those changes.
Instead -
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Look at monthly customer cohorts to track sales efficiency and assess customer value accretion over time
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Examine longitudinal data and isolate trends that are happening both within a cohort and across multiple cohorts, by looking at Cohort CAC Payback (Sales Efficiency) and running a Customer Value Analysis to track revenue per cohort over time (Net Revenue Retention)
Thanks to Anubhav Maheshwari, Daniel Heck, Zachary Garippa, Jotham Ty, Kevin Swain, Mark Roberge, Gabrielle Bier for the help!
