Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and Liabilities Measured at Fair Value on a Recurring Basis

	December 31, 2019								December 31, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds(1)	$	27,235	—		—		$	27,235	$	28,671	$	—	$	—	$	28,671
Total assets	$	27,235	—		—		$	27,235	$	28,671	$	—	$	—	$	28,671
Liabilities:
Contingent consideration on acquisition liability(2)	$	—	$	—	$	—	$	—	$	—	$	—	$	1,500	$	1,500
Total liabilities	$	—	$	—	$	—	$	—	$	—	$	—	$	1,500	$	1,500

(1)         Money market funds are included within cash and cash equivalents in the Company’s consolidated balance sheets.  As short-term, highly liquid investments readily convertible to known amounts of cash, the Company’s money market funds have carrying values that approximate their fair value. Amounts above do not include $26,929 and $18,988 of operating cash balances as of December 31, 2019 and 2018, respectively.

(2)     On June 8 2018, the Company acquired all of the outstanding shares of Slimcut. In connection with the acquisition, the former stockholders of SlimCut were eligible to receive future cash payments up to $1,500 contingent on the operating performance of SlimCut in reaching certain financial milestones for the year ended December 31, 2018. In estimating the fair value of the contingent consideration on the date of acquisition, the Company used a Monte-Carlo valuation model based on future expectations on reaching financial milestones, other management assumptions (including operating results, business plans, anticipated future cash flows, and marketplace data), and the weighted-probabilities of possible payments. These assumptions were based on significant inputs not observed in the market and, therefore, represent a Level 3 measurement. Based on the operating results as of December 31, 2018, contingent consideration of $1,500 was fully earned and paid out to former stockholders of SlimCut in 2019.

Schedule of changes in Level 3 instruments measured at fair value on a recurring basis

The following table represents the changes in the Company’s Level 3 instruments measured at fair value on a recurring basis for the years ended December 31, 2019 and December 31, 2018:

	2019		2018
Beginning balance at January 1,	$	1,500	$	—
Contingent consideration on acquisition(1)	—		1,443
Contingent consideration paid, SlimCut acquisition	(1,500)		—
Mark-to-market expense(2)	—		57
Ending balance at December 31,	$	—	$	1,500

(1)         Represents contingent consideration attributable to the SlimCut acquisition (as defined below see Note 7) that has been recorded during the years ended 2019 and 2018, respectively. Refer to note 7 for further discussion of contingent consideration payments paid in connection with the Company’s acquisitions of SlimCut.

(2)         Reflects expense incurred based on the Company’s re-measurement at December 31, 2018, of the estimated fair value of the contingent consideration relating to the SlimCut acquisition (as defined below, see Note 7). Amounts recorded as mark-to-market expense relating to Level 3 instruments are recorded in operating expense. Refer to the table above regarding assumptions used for Level 3 instruments and Note 7 for further discussion of contingent consideration payments paid in connection with the Company’s acquisition of SlimCut.