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Balance Sheet Components | 12 Months Ended
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Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Balance Sheet Components |
5. | Balance sheet components
|  | December 31, 2014 |  |  | December 31, 2013 |
Accounts receivable, net: |  |  |  |  |  |  |  |
Users |  | $ | 45,347,095 |  |  | $ | 37,500,773 |
Credit cards and other means of payments |  |  | 8,591,753 |  |  |  | 3,967,585 |
Advertising |  |  | 3,568,620 |  |  |  | 2,306,622 |
Others debtors |  |  | 5,330,468 |  |  |  | 1,104,084 |
|  |  | 62,837,936 |  |  |  | 44,879,064 |
Allowance for doubtful accounts |  |  | (16,165,441 | ) |  |  | (18,994,804 | )
|  | $ | 46,672,495 |  |  | $ | 25,884,260 |
|  | December 31, 2014 |  |  | December 31, 2013 |
Credit card receivables |
Credit cards and other means of payments |  | $ | 85,691,504 |  |  | $ | 53,054,922 |
Allowance for chargebacks |  |  | (529,228 | ) |  |  | (1,009,071 | )
|  | $ | 85,162,276 |  |  | $ | 52,045,851 |
|  | December 31, 2014 |  |  | December 31, 2013 |
Other current assets: |
VAT credits |  | $ | 1,751,169 |  |  | $ | 3,589,730 |
Other taxes |  |  | 8,937,683 |  |  |  | 5,128,602 |
Other |  |  | 3,295,615 |  |  |  | 2,770,513 |
|  | $ | 13,984,467 |  |  | $ | 11,488,845 |
|  | December 31, |  |  | December 31, |
|  | 2014 |  |  | 2013 |
Other non current assets: |
Legal Deposits |  | $ | 433,382 |  |  | $ | 660,475 |
Deposit in Court (Note 15) |  |  | 21,043,446 |  |  |  | 22,295,223 |
Other |  |  | 2,257,262 |  |  |  | 1,443,486 |
|  | $ | 23,734,090 |  |  | $ | 24,399,184 |
|  | Estimated useful life (years) |  | December 31, 2014 |  |  | December 31, 2013 |
Property and equipment, net: |  |  |  |  |  |  |  |  |  |
Equipment |  | 3-5 |  | $ | 39,649,237 |  |  | $ | 31,819,593 |
Land & Building |  | 50(1)(2) |  |  | 57,541,713 |  |  |  | 105,142,930 |
Furniture and fixtures |  | 3-5 |  |  | 10,756,038 |  |  |  | 10,081,433 |
Software |  | 3 |  |  | 25,052,266 |  |  |  | 14,720,776 |
Cars |  | 3 |  |  | 153,335 |  |  |  | 286,397 |
|  |  |  |  | 133,152,589 |  |  |  | 162,051,129 |
Accumulated depreciation |  |  |  |  | (41,607,753 | ) |  |  | (30,679,220 | )
|  |  |  | $ | 91,544,836 |  |  | $ | 131,371,909 |
(1) | Estimated useful life attributable to “Buildings”.
(2) | After impairment test. See Note 2, “Impairment of Long-lived Assets”.
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Cost of net revenues |  | $ | 800,691 |  |  | $ | 1,168,570 |  |  | $ | 859,364 |
Product and technology development |  |  | 12,073,886 |  |  |  | 8,622,723 |  |  |  | 6,112,771 |
Sales and marketing |  |  | 180,925 |  |  |  | 213,018 |  |  |  | 190,143 |
General and administrative |  |  | 3,891,395 |  |  |  | 1,874,254 |  |  |  | 1,797,015 |
|  | $ | 16,946,897 |  |  | $ | 11,878,565 |  |  | $ | 8,959,293 |
|  | December 31, |  |  | December 31, |
|  | 2014 |  |  | 2013 |
Accounts payable and accrued expenses: |  |  |  |  |  |  |  |
Accounts payable |  | $ | 50,812,453 |  |  | $ | 26,658,109 |
Accrued expenses |  |  |  |  |  |  |  |
Advertising |  |  | 3,912,234 |  |  |  | 2,513,890 |
Professional fees |  |  | 1,364,597 |  |  |  | 1,571,771 |
Other expense provisions |  |  | 1,691,544 |  |  |  | 3,658,422 |
Other current liabilities |  |  | 224,906 |  |  |  | 3,141 |
|  | $ | 58,005,734 |  |  | $ | 34,405,333 |
|  | December 31, 2014 |  |  | December 31, 2013 |
Current loans payable and other financial liabilities: |  |  |  |  |  |  |  |
Unsecured lines of credit |  | $ | 1,640,370 |  |  | $ | 13,348,861 |
Car leasing financing |  |  | 1,276 |  |  |  | 21,962 |
|  | $ | 1,641,646 |  |  | $ | 13,370,823 |
|  | December 31, 2014 |  |  | December 31, 2013 |
Non current loans payable and other financial liabilities: |  |  |  |  |  |  |  |
Convertible notes |  | $ | 280,630,258 |  |  | $ | — |
Unsecured lines of credit |  |  | 1,554,073 |  |  |  | 2,489,819 |
|  | $ | 282,184,331 |  |  | $ | 2,489,819 |
|  | December 31, 2014 |  |  | December 31, 2013 |
Current other liabilities: |  |  |  |  |  |  |  |
Contingent considerations and escrows from acquisitions |  |  | 2,971,025 |  |  |  | — |
Others |  |  | 1,205,805 |  |  |  | — |
|  | $ | 4,176,830 |  |  | $ | — |
|  | December 31, 2014 |  |  | December 31, 2013 |
Non current other liabilities: |
Provisions and contingencies |  | $ | 3,008,537 |  |  | $ | 3,330,108 |
Contingent considerations and escrows from acquisitions |  |  | 3,047,655 |  |  |  | — |
Others |  |  | 124,476 |  |  |  | 369,001 |
|  | $ | 6,180,668 |  |  | $ | 3,699,109 |
|  | December 31, 2014 |  |  | December 31, 2013 |  |  | December 31, 2012 |
Accumulated balances of other comprehensive income |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  | $ | (134,695,439 | ) |  | $ | (87,481,437 | ) |  | $ | (49,542,692 | )
Unrealized (loss) gain on investments |  |  | (577,507 | ) |  |  | 36,626 |  |  |  | 1,146,662 |
Estimated tax gain (loss) on unrealized gains on investments |  |  | 199,115 |  |  |  | (11,159 | ) |  |  | (387,098 | )
|  | $ | (135,073,831 | ) |  | $ | (87,455,970 | ) |  | $ | (48,783,128 | )
The following table summarizes the changes in accumulated balances of other comprehensive income for the year December 31, 2014:
|  | Unrealized Gains (Losses) on Investments |  |  | Foreign Currency Translation |  |  | Estimated tax (expense) benefit |  |  | Total 2014 |  |  | Total 2013 |
Balances as of December 31, 2013 |  | $ | 36,626 |  |  | $ | (87,481,437 | ) |  | $ | (11,159 | ) |  | $ | (87,455,970 | ) |  | $ | (48,783,128 | )
Other comprehensive income before reclassification adjustments for (losses) gains on available for sale investments |  |  | (577,507 | ) |  |  | (47,214,002 | ) |  |  | 199,115 |  |  |  | (47,592,394 | ) |  |  | (37,913,278 | )
Amount of gain (loss) reclassified from accumulated other comprehensive income to net income |  |  | (36,626 | ) |  |  | — |  |  |  | 11,159 |  |  |  | (25,467 | ) |  |  | (759,564 | )
Net current period other comprehensive income |  |  | (614,133 | ) |  |  | (47,214,002 | ) |  |  | 210,274 |  |  |  | (47,617,861 | ) |  |  | (38,672,842 | )
Balances as of December 31, 2014 |  | $ | (577,507 | ) |  | $ | (134,695,439 | ) |  | $ | 199,115 |  |  | $ | (135,073,831 | ) |  | $ | (87,455,970 | )
The following table provides details about reclassifications out of accumulated other comprehensive income for the year ended December 31, 2014:
Details about Accumulated Other Comprehensive Income Components for the year ended December 31, 2014 |  | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income |  |  | Affected Line Item in the Statement of Income
Unrealized gains on investments |  | $ | 36,626 |  |  | Interest income and other financial gains
Estimated tax loss on unrealized gains on investments |  |  | (11,159 | ) |  | Income / asset tax expense
Total reclassifications for the year |  | $ | 25,467 |  |  | Total, net of income taxes

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