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Redeemable Convertible Preferred Stock | 3 Months Ended
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Mar. 31, 2014
Redeemable Convertible Preferred Stock |
Redeemable Convertible Preferred Stock | 8. Redeemable Convertible Preferred Stock The following table summarizes the Company’s issuances of redeemable convertible preferred stock:
Issue Date |  | Series |  | Purchase Price per Share |  | Number of Shares |  | Conversion Price per Share |
June 2009 |  | Series A |  | $ | 1.27 |  | 10,033,976 |  | $ | 1.27 |
February 2010 |  | Series B |  | $ | 4.46 |  | 5,057,901 |  | $ | 4.46 |
March 2011 |  | Series C |  | $ | 7.34 |  | 4,429,601 |  | $ | 7.34 |
March 2012 |  | Series D |  | $ | 7.81 |  | 3,339,902 |  | $ | 7.81 |
January 2013 |  | Series D |  | $ | 7.81 |  | 639,828 |  | $ | 7.81 |
Each of the purchase prices per share above excludes the cost of issuance. Any costs incurred in connection with the issuance of the various classes of preferred stock have been recorded as a reduction of the carrying amount of the preferred stock and were accreted through a charge to additional paid-in capital through March 31, 2014. Summary of Activity The following table presents a summary of activity for the redeemable convertible preferred stock issued and outstanding for the periods presented below (in thousands):
|  | Redeemable Convertible Preferred Stock |
|  | Series A |  | Series B |  | Series C |  | Series D |  | Total Amount |
Balance, December 31, 2013 |  | $ | 12,384 |  | $ | 22,210 |  | $ | 32,405 |  | $ | 31,048 |  | $ | 98,047 |
Accretion of issuance costs on redeemable convertible preferred stock |  | 35 |  | 36 |  | 11 |  | 5 |  | 87 |
Balance, March 31, 2014 |  | $ | 12,419 |  | $ | 22,246 |  | $ | 32,416 |  | $ | 31,053 |  | $ | 98,134 |
Upon closing of the Company’s IPO, all outstanding shares of redeemable convertible preferred stock automatically converted into an aggregate of 23,501,208 shares of common stock.

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- Definition The entire disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. + References No definition available. + Details
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