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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities        
Net income (loss) $ 307,568 $ (694,288) $ 493,507  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Stock-based compensation expense 284,558 230,888 139,910  
Depreciation and amortization expense 91,323 96,702 74,267  
Provision for expected credit losses 19,634 12,464 16,031  
Foreign exchange loss (gain) 7,400 1,238 (14,071)  
Asset impairment charges 68,091 1,045,022 0  
Deferred benefit for income taxes (50,086) (55,303) (88,952)  
Loss on sale of business 2,630 0 0  
Other non-cash (income) expense, net (1,901) 6,423 6,976  
Changes in operating assets and liabilities, net of sale of business and acquisitions:        
Accounts receivable (16,066) (14,056) (19,256)  
Funds receivable and seller accounts (29,328) (20,570) (83,941)  
Prepaid expenses and other current assets (47,490) 23,840 (44,186)  
Other assets (2,409) 7,390 (25,159)  
Accounts payable 2,582 532 (14,169)  
Accrued and other current liabilities 34,439 6,439 84,789  
Funds payable and amounts due to sellers 29,328 20,570 83,941  
Deferred revenue 457 1,905 1,441  
Other liabilities 4,783 14,416 40,423  
Net cash provided by operating activities 705,513 683,612 651,551  
Cash flows from investing activities        
Acquisition of businesses, net of cash acquired 0 0 (1,699,974)  
Cash paid for intangible assets (12) (6,456) (1,937)  
Purchases of property and equipment (12,938) (10,237) (11,248)  
Development of internal-use software (26,958) (20,506) (16,922)  
Purchases of investments (342,850) (270,345) (418,518)  
Sales and maturities of investments 309,451 277,520 590,630  
Net cash used in investing activities (73,307) (30,024) (1,557,969)  
Cash flows from financing activities        
Payment of tax obligations on vested equity awards (83,441) (79,163) (118,167)  
Repurchase of stock (576,968) (425,727) (302,774)  
Proceeds from exercise of stock options 14,228 15,024 22,706  
Proceeds from issuance of convertible senior notes 0 0 1,000,000  
Payment of debt issuance costs (2,215) (25) (13,300)  
Purchase of capped calls 0 0 (85,000)  
Settlement of convertible senior notes (90) (44) (43,900)  
Payments on finance lease obligations (6,278) (6,307) (8,864)  
Other financing, net (1,769) (10,242) 2,048  
Net cash (used in) provided by financing activities (656,533) (506,484) 452,749  
Effect of exchange rate changes on cash 12,031 (6,022) (10,234)  
Net (decrease) increase in cash, cash equivalents, and restricted cash (12,296) 141,082 (463,903)  
Cash, cash equivalents, and restricted cash at beginning of period 926,619 785,537 1,249,440  
Cash, cash equivalents, and restricted cash at end of period 914,323 926,619 785,537 $ 1,249,440
Supplemental cash flow disclosures:        
Cash paid for interest 9,315 9,534 6,054  
Cash paid for income taxes, net of refunds 42,676 41,679 94,160  
Supplemental non-cash disclosures:        
Stock-based compensation capitalized in development of capitalized software and asset additions in exchange for liabilities 19,437 9,799 7,297  
Lease assets obtained in exchange for new lease liabilities 7,751 1,727 68,023  
Excise tax payable 5,507 0 0  
Deferred consideration 4,611 [1] 17,197 0  
Replacement share-based awards issued in conjunction with acquisitions 0 0 5,686  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]        
Cash and cash equivalents 914,323 921,278 780,196 1,244,099
Restricted cash 0 5,341 5,341 5,341
Total cash and cash equivalents, and restricted cash $ 914,323 $ 926,619 $ 785,537 $ 1,249,440
[1]
(1) See “Note 16—Stock-based Compensation” for more information on the settlement of deferred consideration.