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INVESTMENTS
 6 Months Ended
Jun. 30, 2020
Schedule of Equity Method Investments [Abstract]  
INVESTMENTS INVESTMENTS
The following table summarizes investments as of June 30, 2020 and December 31, 2019 (dollars in thousands):
June 30, 2020Percent Ownership of Voting StockDecember 31, 2019Percent Ownership of Voting Stock
Available-for-sale securities - redeemable preferred shares$—  19%to25%$—  19%to25%
Fair value option investments—  10%to19%1,405  10%to19%
Other equity investments 34,403  1%to19%75,171  1%to19%
Total investments$34,403  $76,576  
Fair Value Option Investments 
In connection with the dispositions of controlling stakes in TMON Inc. ("TMON"), an entity based in the Republic of Korea and Groupon India in prior periods, we obtained minority investments in Monster Holdings LP ("Monster LP") and in Nearbuy Pte Ltd. ("Nearbuy"). We have made an irrevocable election to account for both of those investments at fair value with changes in fair value reported in earnings. We elected to apply fair value accounting to those investments because we believe that fair value is the most relevant measurement attribute for those investments, as well as to reduce operational and accounting complexity. Our election to apply fair value accounting to those investments has and may continue to cause fluctuations in our earnings from period to period.
The following table summarizes gains and losses due to changes in fair value of those investments for the three and six months ended June 30, 2020 and 2019 (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2020201920202019
Monster LP$—  $(27,949) $—  $(69,408) 
Nearbuy—  372  (1,405) 423  
Total$—  $(27,577) $(1,405) $(68,985) 
During the first quarter 2020, we recognized a $1.4 million loss from changes in the fair value of our investment in Nearbuy due to revised cash flow projections and an increase in the discount rate applied to those forecasts, which increased to 30% as of March 31, 2020, as compared with 20% as of December 31, 2019. The revisions to the financial projections and the increase in the discount rate applied as of March 31, 2020 were due to the deterioration in the financial condition of Nearbuy as a result of COVID-19, which resulted in underperformance as compared with prior projections and an increase to financial projection risk.
During the first quarter 2019, we recognized a $41.5 million loss from changes in the fair value of our investment in Monster LP due to the revised cash flow projections provided by TMON in March 2019 and an increase in the discount rate applied to those forecasts, which increased to 26.0% as of March 31, 2019, as compared with 21.0% as of December 31, 2018. The increase in the discount rate applied as of March 31, 2019 was due to the deterioration in the financial condition of TMON and the competitive environment in the Korean e-commerce industry, which resulted in an increase to financial projection risk. During the second quarter 2019, we recognized an additional loss of $27.9 million from changes in the fair value of our investment in Monster LP due to revised financial projections provided by TMON in June 2019. The revisions to the financial projections were made as a result of TMON’s continued underperformance as compared with prior projections along with adjustments to their business model.
We determined that the fair value of our investment in Monster LP and Nearbuy was $0.0 million and $0.0 million as of June 30, 2020 and $0.0 million and $1.4 million as of December 31, 2019.
        Other Equity Investments
        
        Other equity investments represent equity investments without readily determinable fair values recorded at cost adjusted for observable price changes and impairments. During the first quarter 2020, we sold 50% of our shares in an other equity investment for total cash consideration of $34.0 million, which approximated cost adjusted for observable price changes as of December 31, 2019.
In addition, we recorded a $6.7 million impairment during the first quarter 2020 to an other equity method investment as a result of revised cash flow projections and a deterioration in financial condition due to COVID-19.