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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2020
FAIR VALUE MEASUREMENTS |
Schedule of assets measured at fair value on a recurring basis |
|  |  |  | December 31, |  | December 31,
Description |  | Level |  | 2020 |  | 2019
Assets: |  |  |  |  |  |  |  |
Cash and marketable securities held in Trust Account |  | 1 |  | $ | 696,957,196 |  | $ | 695,295,418
Liabilities: Warrant Liabilities – Public Warrants |  | 1 |  |  | 45,310,000 |  |  | 32,660,000
Warrant Liabilities – Private Placement Warrants |  | 3 |  |  | 32,548,000 |  |  | 23,700,000
Prosus Agreement liability |  | 3 |  |  | 50,481,190 |  |  | —
Conversion option liability |  | 3 |  |  | 1,604,359 |  |  | —
Schedule of fair value of warrant liabilities |
|  |  |  |  |  |  |  | Warrant
|  | Private Placement |  | Public |  | Liabilities
Fair value as of April 11, 2019 (inception) |  | $ | — |  | $ | — |  | $ | —
Initial measurement on July 1, 2019 |  |  | 15,800,000 |  |  | 22,310,000 |  |  | 38,110,000
Change in valuation inputs or other assumptions |  |  | 7,900,000 |  |  | 10,350,000 |  |  | 18,250,000
Fair value as of December 31, 2019 |  |  | 23,700,000 |  |  | 32,660,000 |  |  | 56,360,000
Change in valuation inputs and other assumptions |  |  | 8,848,000 |  |  | 12,650,000 |  |  | 21,498,000
Fair value as of December 31, 2020 |  | $ | 32,548,000 |  | $ | 45,310,000 |  | $ | 77,858,000
Private Placement Warrants |
FAIR VALUE MEASUREMENTS |
Schedule of quantitative information regarding Level 3 fair value measurements inputs |
|  | As of November 2, |  | As of December 31, |
|  | 2020 |  | 2020 |
Exercise price |  | $ | 11.50 |  | $ | 11.50 |
Stock price |  | $ | 9.97 |  | $ | 10.35 |
Volatility |  |  | 30.0 | % |  | 30.0 | %
Probability of completing a Business Combination |  |  | 85.0 | % |  | 85.0 | %
Term |  |  | 5.28 |  |  | 5.11 |
Risk-free rate |  |  | 0.41 | % |  | 0.38 | %
Dividend yield |  |  | 0.0 | % |  | 0.0 | %
Prosus Agreement Liability |
FAIR VALUE MEASUREMENTS |
Schedule of quantitative information regarding Level 3 fair value measurements inputs |
|  | As of October 12, |  | As of December 31, |
|  | 2020 |  | 2020 |
Exercise price |  | $ | *400.0 | M | $ | 500.0 | M
Underlying value |  | $ | 436.8 | M | $ | 550.3 | M
Volatility |  |  | 40 | % |  | N/A |
Term |  |  | 0.08 |  |  | 0.33 |
Risk-free rate |  |  | 0.10 | % |  | 0.09 | %
Dividend yield |  |  | 0.00 | % |  | 0.00 | %
(*) M is defined as million.
Schedule of fair value of warrant liabilities |
Fair value as of January 1, 2020 |  | $ | —
Initial measurement on October 12, 2020 |  |  | 45,045,478
Change in valuation inputs and other assumptions |  |  | 5,432,712
Fair value as of December 31, 2020 |  | $ | 50,481,190
Conversion Option Liabilities |
FAIR VALUE MEASUREMENTS |
Schedule of fair value of warrant liabilities |
Fair value as of January 1, 2020 |  | $ | —
Initial measurement on November 2, 2020 |  |  | 1,493,877
Change in valuation inputs and other assumptions |  |  | 110,482
Fair value as of December 31, 2020 |  | $ | 1,604,359
Black-Scholes Valuation | Private Placement Warrants |
FAIR VALUE MEASUREMENTS |
Schedule of quantitative information regarding Level 3 fair value measurements inputs |
|  | As of December 31, |  | As of December 31, |
|  | 2019 |  | 2020 |
Exercise price |  | $ | 11.50 |  | $ | 11.50 |
Stock price |  | $ | 10.44 |  | $ | 10.35 |
Volatility |  |  | 20.00 | % |  | 30.0 | %
Probability of completing a Business Combination |  |  | 80.0 | % |  | 85 | %
Term |  |  | 5.33 |  |  | 5.11 |
Risk-free rate |  |  | 1.74 | % |  | 0.38 | %
Dividend yield |  |  | 0.0 | % |  | 0.0 | %
Black-Scholes Valuation | Conversion Option Liabilities |
FAIR VALUE MEASUREMENTS |
Schedule of quantitative information regarding Level 3 fair value measurements inputs |
|  | As of November 2, |  | As of December 31, |
|  | 2020 |  | 2020 |
Exercise price |  | $ | 1.00 |  | $ | 1.00 |
Underlying warrant value |  | $ | 1.92 | * | $ | 2.06 | *
Volatility |  |  | 125.0 | % |  | 110.0 | %
Number of Class A Shares |  |  | *1.5 | M |  | 1.5 | M
Term |  |  | 0.28 |  |  | 0.11 |
Risk-free rate |  |  | 0.09 | % |  | 0.08 | %
Dividend yield |  |  | 0.0 | % |  | 0.0 | %
(*) M is defined as million.

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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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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