v3.22.0.1
Fair Value Measurement and Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value
The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis (in thousands):

As of December 31, 2020
Level 1Level 2Level 3Total
Assets
Cash equivalents:
Money market funds$22,676 $— $— $22,676 
Certificates of deposit278,281 — — 278,281 
U.S. government debt securities— 1,392,966 — 1,392,966 
Commercial paper— 779,527 — 779,527 
Corporate debt securities— 229,633 — 229,633 
300,957 2,402,126 — 2,703,083 
Marketable securities:
Certificates of deposit142,991 — — 142,991 
U.S. government and government agency debt securities— 65,867 — 65,867 
Commercial paper— 241,623 — 241,623 
Corporate debt securities— 267,618 — 267,618 
Mortgage-backed and asset-backed securities— 37,353 — 37,353 
Mutual funds— 155,248 — 155,248 
142,991 767,709 — 910,700 
Funds receivable and amounts held on behalf of customers:
U.S. government and government agency debt securities— 466,219 — 466,219 
Prepaids and other current assets:
Foreign exchange derivative assets— 12,478 — 12,478 
Other assets, noncurrent:
Corporate debt securities— — 11,490 11,490 
Total assets at fair value$443,948 $3,648,532 $11,490 $4,103,970 
Liabilities
Accrued expenses and other current liabilities:
Foreign exchange derivative liabilities$— $32,250 $— $32,250 
Derivative warrant liability (Note 10)
— — 985,181 985,181 
Total liabilities at fair value$— $32,250 $985,181 $1,017,431 
As of December 31, 2021
Level 1Level 2Level 3Total
Assets
Cash equivalents:
Money market funds$1,923,184 $— $— $1,923,184 
Certificates of deposit31,117 — — 31,117 
Commercial paper— 163,959 — 163,959 
Corporate debt securities— 41,439 — 41,439 
1,954,301 205,398 — 2,159,699 
Marketable securities:
Certificates of deposit364,234 — — 364,234 
U.S. government and government agency debt securities— 863 — 863 
Commercial paper— 993,004 — 993,004 
Corporate debt securities— 862,901 — 862,901 
Mortgage-backed and asset-backed securities— 34,036 — 34,036 
364,234 1,890,804 — 2,255,038 
Funds receivable and amounts held on behalf of customers:
Money market funds466,319 — — 466,319 
Prepaids and other current assets:
Foreign exchange derivative assets— 25,918 — 25,918 
Other assets, noncurrent:
Corporate debt securities— — 10,451 10,451 
Total assets at fair value$2,784,854 $2,122,120 $10,451 $4,917,425 
Liabilities
Accrued expenses and other current liabilities:
Foreign exchange derivative liabilities$— $10,280 $— $10,280 
Total liabilities at fair value$— $10,280 $— $10,280 
Schedule of Fair Value Assets Measured on Recurring Basis, Rollforward
The following table presents additional information about investments that are measured at fair value for which the Company has utilized Level 3 inputs to determine fair value (in thousands):

December 31,
20202021
Derivative
Warrant
Liability		Other
Assets,
Noncurrent		Derivative
Warrant
Liability		Other
Assets,
Noncurrent
Balance, beginning of year$— $13,029 $985,181 $11,490 
Additions116,641 — — — 
Reclassifications to equity— — (1,277,168)— 
Total realized and unrealized gains (losses):
Included in earnings868,540 — 291,987 — 
Included in other comprehensive income (loss)— (1,539)— (1,039)
Balance, end of year$985,181 $11,490 $— $10,451 
Changes in unrealized gains or losses included in other comprehensive income (loss) related to investments held at the reporting date$— $(1,539)$— $(1,039)
Schedule of Fair Value Liabilities Measured on Recurring Basis, Rollforward
The following table presents additional information about investments that are measured at fair value for which the Company has utilized Level 3 inputs to determine fair value (in thousands):

December 31,
20202021
Derivative
Warrant
Liability		Other
Assets,
Noncurrent		Derivative
Warrant
Liability		Other
Assets,
Noncurrent
Balance, beginning of year$— $13,029 $985,181 $11,490 
Additions116,641 — — — 
Reclassifications to equity— — (1,277,168)— 
Total realized and unrealized gains (losses):
Included in earnings868,540 — 291,987 — 
Included in other comprehensive income (loss)— (1,539)— (1,039)
Balance, end of year$985,181 $11,490 $— $10,451 
Changes in unrealized gains or losses included in other comprehensive income (loss) related to investments held at the reporting date$— $(1,539)$— $(1,039)
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The following table presents additional information about valuation techniques and inputs used for investments that are measured at fair value and categorized within Level 3 as of December 31, 2020 (fair value amounts in thousands):
Fair ValueValuation TechniqueUnobservable
Inputs		Inputs Value
Liability
Derivative warrant liability$985,181 Black-Scholes option-pricing modelStock volatility44.4 %
Risk-free rate0.9 %
Expected term9.3 years