Related party transactions

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

Related party transactions

9. 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 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 $0.4 million of revenue during each of the three months ended June 30, 2024 and 2023, and $0.8 million and $0.7 million of revenue during the six months ended June 30, 2024 and 2023, respectively. The Company had immaterial accounts receivable balances with these customers as of June 30, 2024 and December 31, 2023.

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 $0.2 million and $0.4 million of revenue from services provided to these customers during the three and six months ended June 30, 2024, respectively. As of June 30, 2024, the Company had an immaterial accounts receivable balance with these customers. The Company had an accounts receivable balance of $0.2 million with these customers as of December 31, 2023. Insight Partners is also affiliated with certain vendors that the Company has contracted to provide technology and software solutions. The Company recorded $0.2 million and $0.1 million of expense during the three months ended June 30, 2024 and 2023, respectively, and $0.4 million and $0.3 million of expense during the six months ended June 30, 2024 and 2023, respectively. The Company had immaterial accounts payable balances with these vendors as of June 30, 2024 and December 31, 2023.

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 $0.1 million of revenue from services provided to these customers during each of the three months ended June 30, 2024 and 2023, and $0.2 million of revenue during each of the six months ended June 30, 2024 and 2023. The Company had no accounts receivable balance with these customers as of June 30, 2024. As of December 31, 2023, the Company had an accounts receivable balance with these customers of $0.4 million.