8. Warrants to Purchase Preferred Stock

In connection with the Company’s entry into, and various amendments of, its loan and credit facility agreements in 2007, 2008 and 2010, warrants to purchase preferred stock were issued to SVB. In addition, with the acquisition of ScanScout in 2010, the Company exchanged ScanScout’s pre-acquisition preferred stock warrants into warrants for the new series of preferred stock that was issued as part of the acquisition.

The warrants are exercisable at any time prior to expiration. Freestanding warrants and other similar instruments on shares that are redeemable (either put-able or mandatorily redeemable) are accounted for as liabilities, regardless of the timing of the redemption feature or price, even though the underlying shares may be classified as equity.

The following table summarizes the Company’s outstanding warrants to purchase preferred stock as of December 31, 2012 and June 30, 2013:

						Fair Value as of
			Exercise		Warrants	December 31,		June 30,
	Grant Date	Expiration Date	Price		Outstanding	2012		2013
								(unaudited)
Series A	June 7, 2007	June 7, 2017	$	1.27	35,520	$	299	$	277
Series B-1	December 8, 2008	December 7, 2018	$	4.86	33,930	246		198
Series C	February 8, 2010	February 8, 2020	$	3.79	31,659	245		208
Series 1	December 8, 2010	June 30, 2017	$	2.46	31,130	256		211
Series 3	December 8, 2010	February 6, 2015	$	5.75	8,694	57		32
					140,933	$	1,103	$	926

Mark-to-market income related to the fair value measurement of the warrants were $8 and $172 for the three months ended June 30, 2012 and 2013, respectively, and $14 and $177 for the six months ended June 30, 2012 and 2013, respectively.

On July 2, 2013, in connection with the closing of the Company’s IPO, these warrants to purchase preferred stock were converted into warrants to purchase 142,534 shares of common stock, which includes an anti-dilution adjustment to the conversion ratio of the Series B-1 warrants to purchase preferred stock. This conversion resulted in the warrants being reclassified to additional paid-in capital (refer to note 10).