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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income (loss) $ (124,602) $ 11,319
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, equipment and software 29,558 31,430
Amortization of acquired intangible assets 4,305 4,560
Impairment of goodwill 35,424 0
Impairment of long-lived assets 8,811 0
Restructuring-related impairment 1,180 0
Stock-based compensation 16,078 16,917
Foreign currency translation adjustments reclassified into earnings 0 (32,284)
Change in assets and liabilities:    
Accounts receivable (10,233) 5,404
Prepaid expenses and other current assets 590 (4,603)
Right-of-use assets - operating leases 9,258 11,055
Accounts payable 6,073 7,121
Accrued merchant and supplier payables (54,905) (117,549)
Accrued expenses and other current liabilities (36,067) (6,737)
Operating lease obligations (13,831) (16,177)
Other, net 20,005 8,774
Net cash provided by (used in) operating activities (108,356) (80,770)
Investing activities    
Purchases of property and equipment and capitalized software (22,149) (24,460)
Proceeds from sale or divestment of investment 0 4,245
Acquisitions of intangible assets and other investing activities (1,546) (1,752)
Net cash provided by (used in) investing activities (23,695) (21,967)
Financing activities    
Proceeds from issuance of 2026 convertible notes 0 230,000
Proceeds from (payments of) borrowings under revolving credit agreement (40,000) (100,000)
Issuance costs for 2026 convertible notes and revolving credit agreement 0 (7,914)
Purchase of capped call transactions 0 (27,416)
Payments for the repurchase of Atairos convertible notes 0 (254,000)
Proceeds from the settlement of convertible note hedges 0 2,315
Payments for the settlement of warrants 0 (1,345)
Taxes paid related to net share settlements of stock-based compensation awards (4,703) (16,147)
Payments of finance lease obligations (435) (4,008)
Other financing activities (1,166) 94
Net cash provided by (used in) financing activities (46,304) (178,421)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (4,708) (4,016)
Net increase (decrease) in cash, cash equivalents and restricted cash (183,063) (285,174)
Cash, cash equivalents and restricted cash, beginning of period [1] 499,483 851,085
Cash, cash equivalents and restricted cash, end of period [1] 316,420 565,911
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,428 11,251
Income tax payments 3,611 6,446
Supplemental cash flow information on our leasing obligations:    
Right-of-use assets obtained in exchange for operating leases liabilities $ 1,706 $ 0
[1] The following table provides a reconciliation of Cash, cash equivalents and restricted cash shown above to amounts reported within the Condensed Consolidated Balance Sheets as of June 30, 2022, December 31, 2021, June 30, 2021 and December 31, 2020 (in thousands):
June 30, 2022December 31, 2021June 30, 2021December 31, 2020
Cash and cash equivalents$315,595 $498,726 $565,033 $850,587 
Restricted cash included in prepaid expenses and other current assets825 757 878 498 
Cash, cash equivalents and restricted cash$316,420 $499,483 $565,911 $851,085