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Share-Based Awards (Tables)

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Summary of Option Award Activity

The following table summarizes option award activity for the six months ended June 30, 2021:

			Number of Shares Subject to Existing Options						Weighted- Average Exercise Price Per Share						Weighted- Average Remaining Contractual Life (Years)						Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2021			20,051,051						$	42.68					7.22						$	1,751,105
Granted			8,438,476						133.48
Exercised			(1,991,460)						38.00
Forfeited or cancelled			(602,382)						64.27
Outstanding at June 30, 2021			25,895,685						72.12						7.76						1,405,360
Vested and exercisable at June 30, 2021			10,615,442						44.43						6.16						832,504

Fair Value of Options Granted, Estimated at Date of Grant Using Black Scholes Merton Option Pricing Model

The fair value of options granted is estimated at the date of grant using the Black-Scholes-Merton option-pricing model, assuming no dividends and with the following assumptions for the periods presented:

			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Expected volatility			56%						51%						52%-56%						45%-51%
Expected dividend yield			—						—						—						—
Risk-free interest rate			0.74%						0.33%						0.57%-0.90%						0.33%-0.93%
Weighted-average expected life			4.50 years						5.00 years						4.50-5.75 years						5.00-5.50 years
Weighted-average fair value of options granted			$53.16						$20.21						$59.58						$20.69

Summary of Restricted Stock Units Activity

The following table summarizes activity for restricted stock units for the six months ended June 30, 2021:

			Restricted Stock Units						Weighted- Average Grant- Date Fair Value
Unvested outstanding at January 1, 2021			7,316,557						$	48.14
Granted			1,155,375						134.02
Vested			(1,592,564)						47.76
Forfeited			(404,654)						55.93
Unvested outstanding at June 30, 2021			6,474,714						63.08

Effects of Share Based Compensation in Consolidated Statements of Operations

The following table presents the effects of share-based compensation expense in our condensed consolidated statements of operations during the periods presented (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Cost of revenue			$	2,972					$	1,364					$	5,660					$	2,766
Sales and marketing			13,350						9,116						23,237						16,109
Technology and development			34,951						21,421						61,042						40,109
General and administrative			37,122						20,450						62,129						37,162
Total			$	88,395					$	52,351					$	152,068					$	96,146

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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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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