Related party transactions

9 Months Ended

Sep. 30, 2022

Related Party Transactions [Abstract]

Related party transactions

13. Related party transactions

Naspers Ltd. (“Naspers”), through an investment entity controlled by Prosus N.V. (“Prosus”), beneficially owns more than 5% of the Company’s outstanding capital stock. A current member of the Company’s Board of Directors is an executive officer of a Prosus operating subsidiary, OLX Global B.V. A former member of the Company’s Board of Directors, who resigned in September 2022, was an executive officer of Prosus. Naspers and certain entities directly and indirectly controlled by Naspers are customers of the Company’s Enterprise subscription offering. The Company recorded $0.3 million and $0.3 million of revenue from services provided to these customers during the three months ended September 30, 2022 and 2021, respectively, and $1.1 million and $0.9 million for the nine months ended September 30, 2022 and 2021. As of September 30, 2022 and December 31, 2021, the Company had an accounts receivable balance with these customers of $0.1 million and $0.1 million, respectively.

Insight Partners, where a member of the Company’s Board of Directors is a Managing Director, is affiliated with certain vendors that the Company has contracted to provide technology and software solutions. During the three months ended September 30, 2022 and 2021, the Company recorded $0.2 million and $0.1 million, respectively, of expenses with these vendors. During the nine months ended September 30, 2022 and 2021, the Company recorded $0.7 million and $0.3 million, respectively, of expense with these vendors. As of September 30, 2022 and December 31, 2021, the Company had an accounts payable balance with these vendors of zero and $0.1 million, respectively.

Certain members of the Company’s Board of Directors also serve as executive officers for customers of the Company’s Enterprise subscription offering. The Company recorded $0.2 million and $0.4 million of revenue from services provided to these customers during the three and nine months ended September 30, 2022, respectively, and an immaterial amount of revenue for the three and nine months ended September 30, 2021. As of September 30, 2022, the Company had an immaterial accounts receivable balance with these customers, and a balance of zero as of December 31, 2021.