Stockholders' Equity

6 Months Ended

Jun. 30, 2018

Stockholders Equity Note [Abstract]

Stockholders' Equity

Note 8. Stockholders’ Equity

Preferred Stock

As of June 30, 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 June 30, 2018, the Company had authorized 451,000,000 shares of Class A common stock, par value $0.0001 per share, of which 44,567,831 shares were issued and outstanding. Holders of Class A common stock are entitled to one vote per share.

During the three months ended June 30, 2018, 1,928,417 shares of Class B common stock were converted into 1,928,417 shares of Class A common stock at the request of the holders thereof. Additionally, 9,195,917 shares of Class B common stock, constituting all of the shares of Class B common stock that were issued and outstanding, were automatically converted into shares of Class A common stock, as the Class B common stock ceased to represent at least 25% of the outstanding common stock. Prior to the conversion, the Company had authorized 44,000,000 shares of Class B Common stock. Upon conversion, 36,286,260 were retired, leaving 7,713,740 shares authorized, par value $0.0001 per share. There are no shares of Class B common stock outstanding as of June 30, 2018.