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Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Common Stock Reserved for Future Issuance
The following table summarizes the Company’s shares of common stock reserved for future issuance on an as-converted basis:


As of
December 31,		As of
June 30,

20232024
(in thousands)
Series A redeemable convertible preferred stock5,833 5,833 
Restricted stock units33,459 28,473 
Stock options outstanding19,553 8,273 
Remaining shares available for future issuance39,523 50,123 
Shares available for issuance under the 2023 Employee Stock Purchase Plan7,000 9,790 
Total105,368 102,492 
Schedule of Stock Options Roll Forward
The following table summarizes the activity related to the Company’s equity incentive plans:
Shares Available for Future GrantNumber of OptionsWeighted-Average Exercise
Price		Weighted-Average Remaining Contractual Life Aggregate Intrinsic Value
(in thousands)(in years)(in millions)
As of January 1, 2024
39,523 19,553 $8.60 3.36$302 
Additional shares reserved13,952 — 
Options exercised— (11,275)$6.53 
Options cancelled and forfeited5 (5)$8.43 
Shares withheld related to net share settlement3,214 — 
Restricted stock units granted(10,799)— 
Restricted stock units forfeited4,228 — 
As of June 30, 2024
50,123 8,273 $11.43 3.69$178 
Options vested and expected to vest as of June 30, 2024
8,273 $11.43 3.69$178 
Options exercisable as of June 30, 2024
8,207 $11.14 3.69$178 
Schedule of Nonvested Restricted Stock Shares Activity
The following table summarizes the activity related to the Company’s restricted stock for the six months ended June 30, 2024:

Number of SharesWeighted-Average
Grant-Date Fair Value per Share
(in thousands)
Unvested and outstanding as of January 1, 2024
326 $82.83 
Vested
(99)$120.48 
Unvested and outstanding as of June 30, 2024
227 $66.37 
Schedule of Nonvested Restricted Stock Units Activity
The following table summarizes the activity related to the Company’s RSUs for the six months ended June 30, 2024:

Number of SharesWeighted-Average
Grant-Date Fair Value per Share
(in thousands)
Unvested and outstanding as of January 1, 2024
29,119 $49.45 
Granted (1)
10,799 $36.00 
Vested(7,217)$50.79 
Vested and not settled(216)$74.68 
Forfeited(4,228)$51.35 
Unvested and outstanding as of June 30, 2024
28,257 $43.47 
___________
(1) Includes 586,920 of RSUs with certain service-based and gross transaction value (“GTV”) performance conditions granted during the six months ended June 30, 2024, which represents 100% achievement.
Share-Based Payment Arrangement, Expensed and Capitalized, Amount
The following table summarizes stock-based compensation expense by line item in the condensed consolidated statements of operations related to stock options, restricted stock, and RSUs, as applicable:

Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
(in millions)
Cost of revenue$— $2 $— $4 
Operations and support— 5 — 5 
Research and development2 75 4 54 
Sales and marketing1 23 2 32 
General and administrative1 31 3 50 
Total stock-based compensation expense (1)
$4 $136 $9 $145 
___________
(1) Stock-based compensation expense during the six months ended June 30, 2024 includes a benefit of $4 million, $79 million, $8 million, and $4 million for operations and support, research and development, sales and marketing, and general and administrative, respectively, related to the reversal of previously recognized stock-based compensation expense for unvested equity awards for executive departures during the three months ended March 31, 2024 and for terminated employees in connection with the restructuring plan.