INFORMATION ABOUT REVENUE AND GEOGRAPHIC AREAS

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Information About Revenue and Geographic Areas

INFORMATION ABOUT REVENUE AND GEOGRAPHIC AREASThe Company considers operating segments to be components of the Company for which separate financial information is available and evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker for the Company is the chief executive officer. The chief executive officer reviews financial information presented on a consolidated basis, accompanied by information about revenue by product line and geographic region for purposes of allocating resources and evaluating financial performance.

The Company has determined that it has a single operating and reporting segment. When the Company communicates results externally, it disaggregates net revenue into major product lines and primary geographical markets, which is based on the billing address of the customer. The disaggregation of revenue by major product lines is based on the type of service provided and also aligns with the timing of revenue recognition.

Net Revenue

The following table presents the Company’s net revenue by major product line for the periods presented (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Net revenue by product:
Advertising	$	162,233	$	237,842	$	402,326	$	464,875
Transactions	3,968		3,147		6,607		6,454
Other services	2,829		5,966		9,998		11,568
Total net revenue	$	169,030	$	246,955	$	418,931	$	482,897

During the three and six months ended June 30, 2020 and 2019, no individual customer accounted for 10% or more of consolidated net revenue.

As a result of the COVID-19 pandemic, the Company considered whether there was any impact to the manner in which revenue is recognized, in particular with respect to the collectability criteria for recognizing revenue from contracts with customers. The Company did not change the manner in which it recognizes revenue as a result of that assessment.

During the three and six months ended June 30, 2020, the Company offered a number of relief incentives totaling $13.3 million and $17.9 million, respectively, to advertising and other services customers most impacted by the COVID-19 pandemic. These incentives were primarily in the form of waived advertising fees and waived subscription fees. The Company accounted for these incentives as price concessions and reduced net revenue recognized in the three and six months ended June 30, 2020 accordingly. The Company also paused certain advertising campaigns that were scheduled to run in the three months ended June 30, 2020 and offered certain free advertising products with a total value of $14.5 million. All paused advertising campaigns that were not cancelled resumed during the three month period.

The following table presents the Company’s net revenue by major geographic region for the periods presented (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
United States	$	167,270	$	243,638	$	413,797	$	476,349
All other countries	1,760		3,317		5,134		6,548
Total net revenue	$	169,030	$	246,955	$	418,931	$	482,897

Long-Lived Assets

The following table presents the Company’s long-lived assets by major geographic region for the periods presented (in thousands):

	June 30, 2020		December 31, 2019
United States	$	103,766	$	109,849
All other countries	2,966		1,100
Total long-lived assets	$	106,732	$	110,949