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STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
A summary of stock option activity for the nine months ended September 30, 2021 is as follows (in thousands, except share and per share data):
Number of Stock Options Outstanding
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
Balance at December 31, 202013,630,882 $17.84 3.84$2,723,394 
Granted198,771 255.22 
Exercised(4,417,087)11.64 
Forfeited(2,895)71.99 
Balance at September 30, 20219,409,671 $25.75 4.19$2,017,556 
Options exercisable as of September 30, 20218,099,979 $15.57 3.52$1,816,899 
Restricted Stock Awards and Restricted Stock Units Activity Activity related to RSAs and RSUs during the nine months ended September 30, 2021 is set forth below:
Number of
shares
Weighted
Average Grant
Date Fair Value
Unvested as of December 31, 202015,622,645 $71.71 
Granted4,256,680 246.06 
Vested(5,179,004)68.22 
Forfeited(742,110)101.77 
Unvested as of September 30, 202113,958,211 $124.57 
Summary of the Effect of Share-Based Compensation on the Condensed Consolidated Statements of Operations
The following table summarizes the effects of share-based compensation on the Company's condensed consolidated statements of operations (in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2021202020212020
Cost of revenue$99 $100 $310 $271 
Product development121,209 78,682 314,265 205,647 
Sales and marketing16,023 12,063 40,680 27,354 
General and administrative27,680 19,544 74,744 50,600 
Total$165,011 $110,389 $429,999 $283,872