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Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-based Compensation Expense
Stock-based compensation expense included in the condensed consolidated statements of operations data above was as follows (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Infrastructure and trust & safety$13,655 $7,797 $25,011 $13,485 
Research and development93,714 51,626 168,528 83,220 
General and administrative32,974 18,929 53,769 30,176 
Sales and marketing6,045 3,307 11,375 5,522 
Total stock-based compensation$146,388 $81,659 $258,683 $132,403 
Summary of Summarizes the Company's Stock Option Activity
The following table summarizes the Company’s stock option activity (in thousands except per share data and remaining contractual term):
 Options Outstanding
 Number of
Shares
Subject to
Options
Weighted-
Average
Exercise
Price
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value
Balances as of December 31, 202163,267 $2.82 6.97$6,348,395 
Granted— — 
Cancelled(990)$3.98 
Exercised(6,356)$2.46 
Balances as of June 30, 202255,921 $2.84 6.49$1,678,915 
Vested and exercisable as of June 30, 2022
37,003 $2.14 5.92$1,136,588 
Vested and expected to vest at June 30, 2022
55,921 $2.84 6.49$1,678,915 
Summary of Company's Restricted Stock Units and Unregistered Restricted Stock Awards Activity
The following table summarizes the Company’s restricted stock units and unregistered restricted stock awards (unregistered RSAs) activity (in thousands except per share data):
 Restricted Stock UnitsRestricted Stock Awards
 Number of
Shares
Weighted-
Average
grant date
fair value
Number of
Shares
Weighted-
Average
grant date
fair value
Unvested as of December 31, 202114,684 $68.03 468 $57.37 
Granted11,663 $40.76 298 $45.99 
Released(3,616)$65.75 (67)$60.52 
Cancelled(822)$64.56 — — 
Unvested as of June 30, 202221,909 $54.02 699 $52.21 
Summary of Measured Based on An Average of Our Stock Price The CEO Long-Term Performance Award is divided into seven tranches that are eligible to vest based on the achievement of stock price goals, each a Company Stock Price Hurdle, measured based on an average of our stock price over a consecutive 90-day trading period applicable to the performance period as set forth below.
Company Stock
Price Hurdle
Number of RSUs
Eligible to Vest
Performance
Period
Commencement
Dates as Measured
from the Effective
Date
1$165.00 750,000 2 years
2$200.00 750,000 3 years
3$235.00 2,000,000 4 years
4$270.00 2,000,000 5 years
5$305.00 2,000,000 5 years
6$340.00 2,000,000 5 years
7$375.00 2,000,000 5 years
Summary of Employee Stock Purchase Plan
The following table summarizes the weighted-average assumptions used in estimating the fair value of 2020 ESPP for the offering period in effect using the Black-Scholes option-pricing model:
 
 Six Months Ended
 June 30, 2022
Risk-free interest rate0.71%-1.55%
Expected volatility54.16%-60.1%
Dividend yield—%
Expected terms (in years)0.50-2.00