v3.22.0.1

Stockholders’ Equity (Deficit) (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Fair Value Assumptions of Options Granted | The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option-pricing model using the range of assumptions in the following table:
| Year Ended December 31,
| 2019 | 2020 | 2021
Expected dividend yield | — |  | — |  | — |
Volatility | 41.8% - 44.3% | 39.1% - 43.6% | 44.2% - 44.9%
Expected term (years) | 5.0 - 8.0 | 5.1 - 8.0 | 8.0
Risk-free interest rate | 1.5% - 2.5% | 0.5% - 1.5% | 1.1% - 1.5%
Summary of Option Activity | A summary of option and RSU activity under the Plans was as follows (in thousands, except per share amounts):
|  |  | Outstanding Stock Options |  | Outstanding Restricted Stock Units
| Shares Available for Grant |  | Number of Shares | Weighted- Average Exercise Price |  | Number of Shares | Weighted- Average Grant Date Fair Value
Balances as of December 31, 2019 | 25,344 |  |  | 46,512 |  | $ | 10.08 |  |  | 76,136 |  | $ | 45.69 |
Granted(1) | (45,368) |  |  | 4,638 |  | 39.38 |  |  | 40,730 |  | 30.13 |
Increase in shares available for grant(2) | 66,942 |  |  | — |  | — |  |  | — |  | — |
Shares withheld for taxes | 24,296 |  |  | — |  | — |  |  | — |  | — |
Exercised/Vested | — |  |  | (7,496) |  | 2.01 |  |  | (56,070) |  | 37.79 |
Canceled(3) | 15,206 |  |  | (2,233) |  | 53.32 |  |  | (13,042) |  | 51.86 |
Balances as of December 31, 2020 | 86,420 |  |  | 41,421 |  | 12.48 |  |  | 47,754 |  | 40.01 |
Granted(1) | (9,591) |  |  | 715 |  | 191.08 |  |  | 8,876 |  | 181.15 |
Shares withheld for taxes | 464 |  |  | — |  | — |  |  | (464) |  | 66.99 |
Exercised/Vested | — |  |  | (17,707) |  | 7.77 |  |  | (15,612) |  | 57.05 |
Canceled(3) | 4,072 |  |  | (307) |  | 56.69 |  |  | (3,765) |  | 64.32 |
Balances as of December 31, 2021 | 81,365 |  |  | 24,122 |  | 19.69 |  |  | 36,789 |  | 61.22 |
(1) There were no options or RSUs that were granted from the Assumed Equity Incentive Plan for the years ended December 31, 2020 and 2021. (2) Includes 62,069,613 shares of the Company’s Class A common stock initially reserved for issuance under the 2020 Incentive Award Plan. (3) The outstanding options and RSUs include cancellations of 55,158 and 2,158 options and 14,178 and 530 RSUs in 2020 and 2021, respectively, from the Assumed Equity Incentive Plan that are no longer available for future grants.
| Number of Shares (in thousands) | Weighted- Average Exercise Price | Weighted- Average Remaining Contractual Life (years) | Aggregate Intrinsic Value
Options outstanding as of December 31, 2020 | 41,421 |  | $ | 12.48 |  | 3.91 | $ | 5,563,735 |
Options exercisable as of December 31, 2020 | 36,682 |  | 8.63 |  | 3.21 | 5,068,315 |
Options outstanding as of December 31, 2021 | 24,122 |  | 19.69 |  | 3.66 | 3,555,384 |
Options exercisable as of December 31, 2021 | 20,909 |  | 13.28 |  | 2.90 | 3,206,548 |
Summary of RSU Activity | A summary of option and RSU activity under the Plans was as follows (in thousands, except per share amounts):
|  |  | Outstanding Stock Options |  | Outstanding Restricted Stock Units
| Shares Available for Grant |  | Number of Shares | Weighted- Average Exercise Price |  | Number of Shares | Weighted- Average Grant Date Fair Value
Balances as of December 31, 2019 | 25,344 |  |  | 46,512 |  | $ | 10.08 |  |  | 76,136 |  | $ | 45.69 |
Granted(1) | (45,368) |  |  | 4,638 |  | 39.38 |  |  | 40,730 |  | 30.13 |
Increase in shares available for grant(2) | 66,942 |  |  | — |  | — |  |  | — |  | — |
Shares withheld for taxes | 24,296 |  |  | — |  | — |  |  | — |  | — |
Exercised/Vested | — |  |  | (7,496) |  | 2.01 |  |  | (56,070) |  | 37.79 |
Canceled(3) | 15,206 |  |  | (2,233) |  | 53.32 |  |  | (13,042) |  | 51.86 |
Balances as of December 31, 2020 | 86,420 |  |  | 41,421 |  | 12.48 |  |  | 47,754 |  | 40.01 |
Granted(1) | (9,591) |  |  | 715 |  | 191.08 |  |  | 8,876 |  | 181.15 |
Shares withheld for taxes | 464 |  |  | — |  | — |  |  | (464) |  | 66.99 |
Exercised/Vested | — |  |  | (17,707) |  | 7.77 |  |  | (15,612) |  | 57.05 |
Canceled(3) | 4,072 |  |  | (307) |  | 56.69 |  |  | (3,765) |  | 64.32 |
Balances as of December 31, 2021 | 81,365 |  |  | 24,122 |  | 19.69 |  |  | 36,789 |  | 61.22 |
(1) There were no options or RSUs that were granted from the Assumed Equity Incentive Plan for the years ended December 31, 2020 and 2021. (2) Includes 62,069,613 shares of the Company’s Class A common stock initially reserved for issuance under the 2020 Incentive Award Plan. (3) The outstanding options and RSUs include cancellations of 55,158 and 2,158 options and 14,178 and 530 RSUs in 2020 and 2021, respectively, from the Assumed Equity Incentive Plan that are no longer available for future grants.
| Number of Shares (in thousands) | Weighted- Average Exercise Price | Weighted- Average Remaining Contractual Life (years) | Aggregate Intrinsic Value
Options outstanding as of December 31, 2020 | 41,421 |  | $ | 12.48 |  | 3.91 | $ | 5,563,735 |
Options exercisable as of December 31, 2020 | 36,682 |  | 8.63 |  | 3.21 | 5,068,315 |
Options outstanding as of December 31, 2021 | 24,122 |  | 19.69 |  | 3.66 | 3,555,384 |
Options exercisable as of December 31, 2021 | 20,909 |  | 13.28 |  | 2.90 | 3,206,548 |
The following table summarizes the activity related to the Company’s restricted common stock (in thousands, except for per share amounts):
| Number of Shares | Weighted-Average Grant-Date Fair Value Per Share
Unvested restricted common stock as of December 31, 2019 | 996 |  | $ | 62.26 |
Issued | — |  | — |
Vested | (278) |  | 62.12 |
Unvested restricted common stock as of December 31, 2020 | 718 |  | 62.33 |
Issued | — |  | — |
Vested | (86) |  | 62.41 |
Unvested restricted common stock as of December 31, 2021 | 632 |  | 62.32 |
Summary of Stock-based Compensation Expense | The following table summarizes total stock-based compensation expense (in thousands):
| Year Ended December 31,
| 2019 | 2020 | 2021
Operations and support | $ | 817 |  | $ | 143,997 |  | $ | 48,473 |
Product development | 56,632 |  | 1,878,793 |  | 545,113 |
Sales and marketing | 23,919 |  | 435,272 |  | 99,969 |
General and administrative | 16,179 |  | 544,086 |  | 205,292 |
Restructuring charges | — |  | (200) |  | (17) |
Stock-based compensation expense | $ | 97,547 |  | $ | 3,001,948 |  | $ | 898,830 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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