Stockholders' Equity

3 Months Ended

Mar. 31, 2018

Stockholders Equity Note [Abstract]

Stockholders' Equity

Note 8. Stockholders’ Equity

Preferred Stock

As of March 31, 2018, the Company had authorized 5,000,000 shares of preferred stock, par value $0.0001, of which no shares were outstanding.

Common Stock

 As of March 31, 2018, the Company had authorized 451,000,000 shares of Class A common stock and 44,000,000 shares of Class B common stock, each par value $0.0001 per share, of which 32,328,311 shares and 11,124,334 shares of Class A and Class B common stock, respectively, were issued and outstanding. Holders of Class A and Class B common stock are entitled to one vote per share and ten votes per share, respectively. Each share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon transfer, subject to certain exceptions, and upon the earlier of (1) the seventh anniversary of the closing of the IPO, and (2) the date on which the Class B common stock ceases to represent at least 25% of the outstanding common stock. The shares of Class A common stock and Class B common stock are identical, except for voting and conversion rights. During the three months ended March 31, 2018, 3,585,647 shares of Class B common stock were converted into 3,585,647 shares of Class A common stock at the request of the holders thereof.