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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2021
Fair Value Disclosures [Abstract] |
Fair Value, Assets Measured on Recurring Basis | The following summarizes the Company’s financial assets measured and recorded at fair value on a recurring basis as of December 31, 2020 and 2021:
|  |  |  |  | Fair Value Measurements at Reporting Date Using |
|  | As of December 31, 2020 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | ( RMB in thousands) |
Short-term investments |  |  | 1,006,245 |  |  |  | — |  |  |  | 1,006,245 |  |  |  | — |
|  |  | 1,006,245 |  |  |  | — |  |  |  | 1,006,245 |  |  |  | — |
|  |  |  |  | Fair Value Measurements at Reporting Date Using |
|  | As of December 31, 2021 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | ( RMB in thousands) |
Short-term investments |  |  | 4,568,346 |  |  |  | — |  |  |  | 4,568,346 |  |  |  | — |
|  |  | 4,568,346 |  |  |  | — |  |  |  | 4,568,346 |  |  |  | — |
Fair Value Measurement Inputs and Valuation Techniques | The Company estimated the fair values of the Series B4 Warrant using the Black-Scholes Option Pricing Model with the assistance of an independent third-party valuation firm using the corresponding inputs:
|  | As of December 31, 2020 |
|  | Series B4 Warrant |
Expected volatility |  |  | 51.35 | %
Risk-free interest rate |  |  | 0.09 | %
Remaining contractual life |  |  | 0.62 |
Fair value of the underlying preferred shares |  |  | US$6.50 |
Warrant fair value |  |  | US$118.58 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table presents a reconciliation of the warrant liabilities measured at fair value on a recurring basis using Level 3 unobservable inputs for the years ended December 31, 2020 and 2021:
|  | Warrant liabilities |
|  | RMB |
|  | (in thousands) |
Balance as of December 31, 2019 |  |  | 161,462 |
Fair value change |  |  | (11,450 | )
Foreign exchange translation |  |  | (8,807 | )
Exercise of EatTogether Warrant (Note 17) |  |  | (33,045 | )
Balance as of December 31, 2020 |  |  | 108,160 |
|  | Warrant liabilities |
|  | RMB |
|  | (in thousands) |
Balance as of December 31, 2020 |  |  | 108,160 |
Fair value change |  |  | 44,457 |
Foreign exchange translation |  |  | 536 |
Exercise of Series B4 Warrant (Note 17) |  |  | (153,153 | )
Balance as of December 31, 2021 |  |  | — |
Balance as of December 31, 2021 (US$) |  |  | — |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 + Details
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