Related party transactions

9 Months Ended

Sep. 30, 2023

Related Party Transactions [Abstract]

Related party transactions

10. 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 the Chief 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 $0.7 million and $0.3 million of revenue from services provided to these customers during the three months ended September 30, 2023 and 2022, respectively, and $1.4 million and $1.1 million during the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023 and December 31, 2022, the Company had an accounts receivable balance of $0.1 million with these customers.

Insight Partners, where a member of the Company’s Board of Directors is a Managing Director, has certain affiliates who are customers of the Company’s Enterprise subscription offering. The Company recorded $0.5 million of revenue from services provided to these customers during the three and nine months ended September 30, 2023. As of September 30, 2023 the Company had an accounts receivable balance of $0.2 million with these customers. Insight Partners is also affiliated with certain vendors that the Company has contracted to provide technology and software solutions. The Company recorded $0.3 million and $0.2 million of operating expenses with these vendors during the three months ended September 30, 2023 and 2022, respectively, and $0.6 million and $0.7 million during the nine months ended September 30, 2023 and 2022, respectively. The Company did not have an accounts payable balance with these vendors as of September 30, 2023, and December 31, 2022.

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 during $0.1 million and $0.2 million of revenue from services provided to these customers during the three months ended September 30, 2023 and 2022, respectively, and $0.3 million and $0.4 million of revenue during the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023 and December 31, 2022, the Company had an accounts receivable balance with these customers of zero and $0.4 million, respectively.