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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income (loss) $ (52,934,000) $ (234,380,000) $ 120,348,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization of property, equipment and software 43,401,000 54,170,000 63,925,000
Amortization of acquired intangible assets 7,817,000 8,493,000 8,894,000
Impairment of goodwill 0 35,424,000 0
Impairment of long-lived assets 0 12,259,000 0
Restructuring-related impairment 0 2,949,000 7,651,000
Stock-based compensation 14,481,000 30,006,000 33,169,000
Changes in fair value of investments 25,751,000 0 (95,623,000)
Deferred income taxes 1,735,000 49,099,000 (33,985,000)
(Gain) loss on early lease termination (729,000) (4,471,000) 0
Foreign currency translation adjustments reclassified into earnings 0 0 (32,273,000)
Foreign currency (gains) losses, net (5,105,000) 10,934,000 26,730,000
Change in assets and liabilities:      
Accounts receivable (4,482,000) (10,088,000) 5,432,000
Prepaid expenses and other current assets 21,364,000 9,812,000 (13,472,000)
Right-of-use assets - operating leases 9,747,000 16,986,000 19,919,000
Accounts payable (44,594,000) 37,540,000 (10,302,000)
Accrued merchant and supplier payables (18,286,000) (39,428,000) (133,849,000)
Accrued expenses and other current liabilities (37,851,000) (71,804,000) (45,015,000)
Operating lease obligations (27,149,000) (30,295,000) (31,801,000)
Payments for early lease terminations (9,724,000) 0 0
Other, net (1,427,000) (13,193,000) (13,706,000)
Net cash provided by (used in) operating activities (77,985,000) (135,987,000) (123,958,000)
Investing activities      
Purchases of property and equipment and capitalized software (19,285,000) (36,168,000) (49,630,000)
Proceeds from sale or divestment of investment 18,924,000 0 6,950,000
Proceeds from sale of fixed assets 1,489,000 0 0
Acquisitions of intangible assets and other investing activities (2,525,000) (2,677,000) (3,131,000)
Net cash provided by (used in) investing activities (1,397,000) (38,845,000) (45,811,000)
Financing activities      
Proceeds from borrowings under revolving credit agreement 0 40,000,000 0
Payments of borrowings under revolving credit agreement (32,224,000) (65,000,000) (100,000,000)
Proceeds from issuance of 2026 convertible notes 0 0 230,000,000
Issuance costs for 2026 convertible notes and revolving credit agreement (559,000) (490,000) (7,747,000)
Purchase of capped call transactions 0 0 (27,416,000)
Payments for the repurchase of Atairos convertible notes 0 0 (254,000,000)
Proceeds from the settlement of convertible note hedges 0 0 2,315,000
Payments for the settlement of warrants 0 0 (1,345,000)
Taxes paid related to net share settlements of stock-based compensation awards (3,299,000) (6,065,000) (19,834,000)
Proceeds from stock option exercises and employee stock purchase plan 2,932,000 1,105,000 1,128,000
Payments of finance lease obligations 0 (687,000) (5,302,000)
Other financing activities (2,540,000) (3,270,000) (1,649,000)
Net cash provided by (used in) financing activities (35,690,000) (34,407,000) (183,850,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,014,000 (8,548,000) 2,017,000
Net increase (decrease) in cash, cash equivalents and restricted cash (114,058,000) (217,787,000) (351,602,000)
Cash, cash equivalents and restricted cash, beginning of period [1] 281,696,000 499,483,000 851,085,000
Cash, cash equivalents and restricted cash, end of period [1] 167,638,000 281,696,000 499,483,000
Supplemental disclosure of cash flow information      
Cash paid for interest 6,624,000 5,940,000 13,866,000
Income tax payments 7,904,000 5,184,000 11,145,000
Increase (decrease) in liabilities related to purchases of property and equipment and capitalized software (1,770,000) 3,325,000 672,000
Cash paid for amounts included in the measurement of operating lease liabilities 26,686,000 31,508,000 33,079,000
Right-of-use assets obtained in exchange for operating lease liabilities $ 973,000 $ 2,635,000 $ 683,000
[1] The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to amounts reported within the Consolidated Balance Sheets as of December 31, 2023, 2022 and 2021 (in thousands):
December 31, 2023December 31, 2022December 31, 2021
Cash and cash equivalents$141,563 $281,279 $498,726 
Restricted cash included in prepaid expenses and other current assets26,075 417 757 
Cash, cash equivalents and restricted cash$167,638 $281,696 $499,483