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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Schedule of Major Categories of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table sets forth the cost, gross unrealized losses, gross unrealized gains, and fair values of the Company’s investments as of the dates indicated (in thousands):
| Cost |  | Gross Unrealized Holding Loss |  | Gross Unrealized Holding Gain |  | Fair Value |  | Cash and Cash Equivalents |  | Short-term Investments |  | Long-term Investments |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds (1) | $ | 377,021 |  |  | $ | — |  |  | $ | — |  |  | $ | 377,021 |  |  | $ | 376,941 |  |  | $ | 80 |  |  | $ | — |  |
U.S. Government securities | 95,298 |  |  | (164) |  |  | 39 |  |  | 95,173 |  |  | — |  |  | 60,153 |  |  | 35,020 |  |
| 472,319 |  |  | (164) |  |  | 39 |  |  | 472,194 |  |  | 376,941 |  |  | 60,233 |  |  | 35,020 |  |
Level 2 |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency securities | 15,635 |  |  | (14) |  |  | 3 |  |  | 15,624 |  |  | — |  |  | 15,624 |  |  | — |  |
Certificate of deposit | 35,365 |  |  | (1) |  |  | 55 |  |  | 35,419 |  |  | — |  |  | 35,419 |  |  | — |  |
Commercial paper | 62,463 |  |  | (12) |  |  | 54 |  |  | 62,505 |  |  | 4,449 |  |  | 58,056 |  |  | — |  |
Corporate bonds | 100,386 |  |  | (145) |  |  | 128 |  |  | 100,369 |  |  | 1,566 |  |  | 66,786 |  |  | 32,017 |  |
| 213,849 |  |  | (172) |  |  | 240 |  |  | 213,917 |  |  | 6,015 |  |  | 175,885 |  |  | 32,017 |  |
Level 3 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans receivable - held for investment | 6,000 |  |  | — |  |  | — |  |  | 6,000 |  |  | — |  |  | — |  |  | 6,000 |  |
| 6,000 |  |  | — |  |  | — |  |  | 6,000 |  |  | — |  |  | — |  |  | 6,000 |  |
| $ | 692,168 |  |  | $ | (336) |  |  | $ | 279 |  |  | $ | 692,111 |  |  | $ | 382,956 |  |  | $ | 236,118 |  |  | $ | 73,037 |  |
Measured at NAV (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third-party managed funds |  |  |  |  |  |  |  |  |  |  |  |  | $ | 13,639 |  |
|  |  |  |  |  |  |  |  |  |  |  |  | $ | 86,676 |  |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds (1) | $ | 462,866 |  |  | $ | — |  |  | $ | — |  |  | $ | 462,866 |  |  | $ | 374,314 |  |  | $ | 76 |  |  | $ | — |  |
U.S. Government securities | 64,968 |  |  | (424) |  |  | 4 |  |  | 64,548 |  |  | 2,995 |  |  | 61,553 |  |  | — |  |
| 527,834 |  |  | (424) |  |  | 4 |  |  | 527,414 |  |  | 377,309 |  |  | 61,629 |  |  | — |  |
Level 2 |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency securities | 10,053 |  |  | (1) |  |  | 3 |  |  | 10,055 |  |  | — |  |  | 10,055 |  |  | — |  |
Certificate of deposit | 40,915 |  |  | (184) |  |  | 7 |  |  | 40,738 |  |  | 5,471 |  |  | 35,267 |  |  | — |  |
Commercial paper | 57,777 |  |  | (101) |  |  | 18 |  |  | 57,694 |  |  | 4,454 |  |  | 53,240 |  |  | — |  |
Corporate bonds | 122,294 |  |  | (1,729) |  |  | 6 |  |  | 120,571 |  |  | 1,212 |  |  | 90,222 |  |  | 29,137 |  |
| 231,039 |  |  | (2,015) |  |  | 34 |  |  | 229,058 |  |  | 11,137 |  |  | 188,784 |  |  | 29,137 |  |
| $ | 758,873 |  |  | $ | (2,439) |  |  | $ | 38 |  |  | $ | 756,472 |  |  | $ | 388,446 |  |  | $ | 250,413 |  |  | $ | 29,137 |  |
(1)There were no money market funds classified as funds receivable and seller accounts as of December 31, 2023. $88.5 million of money market funds were classified as funds receivable and seller accounts as of December 31, 2022. (2)Third-party managed funds measured on the NAV basis have not been categorized in the fair value hierarchy. The amount presented in the table is intended to permit reconciliation of the long-term investments in the fair value hierarchy to the amount presented in the Consolidated Balance Sheet.
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | The table below shows the gross unrealized loss and fair value of the following investments in available-for-sale debt securities that are classified by the length of time that the securities have been in a continuous unrealized loss position as of the dates indicated (in thousands):
|  |  | Gross Unrealized Holding Loss |  |  |  | Fair Value
December 31, 2023 |  |  |  |  |  |  |
Less than 12 months in a continuous unrealized loss position |  |  |  |  |  |  |
U.S. agency securities |  |  | $ | (14) |  |  |  |  | $ | 12,569 |
Certificate of deposit |  |  | (1) |  |  |  |  | 7,178 |
Commercial paper |  |  | (12) |  |  |  |  | 34,066 |
Corporate bonds |  |  | (73) |  |  |  |  | 28,401 |
U.S. Government securities |  |  | (164) |  |  |  |  | 71,536 |
|  |  | $ | (264) |  |  |  |  | $ | 153,750 |
12 months or longer in a continuous unrealized loss position |  |  |  |  |  |  |
Corporate bonds |  |  | $ | (72) |  |  |  |  | $ | 20,808 |
|  |  | $ | (72) |  |  |  |  | $ | 20,808 |
December 31, 2022 |  |  |  |  |  |  |
Less than 12 months in a continuous unrealized loss position |  |  |  |  |  |  |
Corporate bonds |  |  | $ | (281) |  |  |  |  | $ | 70,469 |
U.S. Government securities |  |  | (265) |  |  |  |  | 51,075 |
|  |  | $ | (546) |  |  |  |  | $ | 121,544 |
12 months or longer in a continuous unrealized loss position |  |  |  |  |  |  |
Corporate bonds |  |  | $ | (1,448) |  |  |  |  | $ | 50,102 |
U.S. Government securities |  |  | (159) |  |  |  |  | 7,442 |
|  |  | $ | (1,607) |  |  |  |  | $ | 57,544 |
Schedule of Estimated Fair Value Liability Component | The following table presents the carrying value and estimated fair value of the Notes as of the dates indicated (in thousands):
| As of December 31, 2023 |  | As of December 31, 2022
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
2021 Notes | $ | 991,529 |  |  | $ | 799,000 |  |  | $ | 989,629 |  |  | $ | 863,300 |
2020 Notes | 645,624 |  |  | 556,790 |  |  | 644,431 |  |  | 646,230 |
2019 Notes | 646,664 |  |  | 747,630 |  |  | 645,536 |  |  | 998,361 |
2018 Notes | — |  |  | — |  |  | 44 |  |  | 145 |
| $ | 2,283,817 |  |  | $ | 2,103,420 |  |  | $ | 2,279,640 |  |  | $ | 2,508,036 |

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- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479106/326-30-50-4 + Details
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