An "acquisition" appears to be an email address (or similar level of effort). Note that their life time customer value is "5x-7x the acquisition cost". It's a

An "acquisition" appears to be an email address (or similar level of effort). Note that their life time customer value is "5x-7x the acquisition cost". It's a really good example of picking the right set of numbers to highlight, which seems to be a big problem people run into when creating pitches.