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Related Party Transactions
12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
As discussed in Note 3, Investment in Joint Venture, and Note 13, Convertible Preferred Stock, in connection with Softbank’s purchase of its Series E convertible preferred stock in 2017, the Company entered into a joint venture agreement with an entity affiliated with SoftBank. In May 2018, the Company and SoftBank formed and capitalized the Joint Venture to accelerate commercialization of its products in Asia, the Middle East and Africa, with an initial focus on Japan. The Company has consolidated the financial position, results of operations and cash flows of the Joint Venture in its financial statements and all intercompany balances have been eliminated in consolidation.
As discussed in Note 11, Common Stock, in July and August 2017, the Company repurchased an aggregate of 1,640,901 shares of outstanding common stock from certain executive officers for $16.9 million. The difference between the repurchase amount and the fair value of repurchased shares of $10.0 million were recorded as cash-based compensation expense in the accompanying consolidated statements of operations.
For each of the years ended December 31, 2019 and 2017, the Company recognized revenue of $0.5 million from an entity affiliated with a member of the Company’s Board of Directors, who serves on the board of both the aforementioned entity and the Company. This individual was appointed to the Company’s board in January 2017. There was no revenue recognized by the Company from that entity for the year ended December 31, 2018.