v3.6.0.2

Stock-BasedCompensation (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of stock-based compensation expense by operating expense category

Total stock-based compensation expense, by operating expense category, as recorded in the consolidated statements of operations was as follows (in thousands):

		Year Ended December 31,
		2014				2015				2016
Platform operations		$	14			$	71			$	756
Sales and marketing			50				127				1,707
Technology and development			909				85				1,513
General and administrative			3,572				91				1,080
Total		$	4,545			$	374			$	5,056

Summary of stock option activity

A summary of stock option activity for the year ended December 31, 2016 is as follows:

		Shares Under Option (in thousands)				Weighted- Average Exercise Price				Weighted-Average Contractual Life (years)		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2015			5,177			$	0.74			7.4
Granted			1,110				21.35
Exercised			(785	)			0.63
Cancelled			(73	)			3.21
Outstanding as of December 31, 2016(1)			5,429			$	4.94			7.1		$	124,243
Exercisable as of December 31, 2016			3,148			$	0.58			5.8		$	85,266

⁽¹⁾  Includes options to purchase 389 and 5,040 shares of Class A and Class B common stock, respectively.

Schedule of weighted-average assumptions used to value options granted to employees

The fair value of options on the date of grant is estimated based on the Black-Scholes option pricing model. The weighted average assumptions used to value options granted to employees for the periods presented were as follows:

		Year Ended December 31,
		2014				2015				2016
Expected term (years)			6.0				6.0				6.0
Expected volatility			62.5	%			64.5	%			58.1	%
Risk-free interest rate			2.02	%			1.62	%			1.62	%
Estimated dividend yield			—	%			—	%			—	%

Schedule of weighted-average assumptions used to estimate the fair value of ESPP shares

The fair value of ESPP shares was estimated using the Black-Scholes option pricing model with the following weighted-average assumptions:

Expected term (years)			0.8
Expected volatility			48.9	%
Risk-free interest rate			0.69	%
Estimated dividend yield			—	%

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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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.

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