BUSINESS COMBINATIONS (Tables)

6 Months Ended

May 05, 2021

Jun. 30, 2021

Business Combinations [Abstract]

Schedule of Business Acquisitions

On May 5, 2021, we completed the acquisition of Bridg for purchase consideration of $578.9 million, as presented below (in thousands):

	May 5, 2021
Cash paid to common and preferred stockholders, warrant holders and vested option holders	$	337,166
Cash paid to extinguish acquiree debt	1,949
Cash paid to settle pre-acquisition liabilities and acquiree deal-related costs	8,012
Fair value of contingent consideration	230,921
Fair value of assumed options attributable to pre-combination service	841
Total purchase consideration	$	578,889

On March 5, 2021, we completed our acquisition of Dosh for purchase consideration of $277.1 million, as presented below (in thousands):

	March 5, 2021
Cash paid to common and preferred stockholders, warrant holders and vested option holders	$	136,164
Cash paid to extinguish acquiree debt	16,574
Cash paid to settle pre-acquisition liabilities and acquiree deal-related costs	3,463
Fair value of common stock transferred	117,354
Fair value of assumed options attributable to pre-combination service	3,593
Total purchase consideration	$	277,148

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table presents the preliminary purchase consideration allocation recorded on our condensed consolidated balance sheet as of the acquisition date (in thousands):

	May 5, 2021
Cash and cash equivalents	$	1,630
Accounts receivable and other assets	1,989
Intangible assets	64,700
Goodwill	514,064
Accounts payable and other liabilities	(3,494)
Total purchase consideration	$	578,889

The following table presents the preliminary purchase consideration allocation recorded on our condensed consolidated balance sheet as of the acquisition date (in thousands):

	March 5, 2021
Cash and cash equivalents	$	7,323
Accounts receivable and other assets	6,146
Intangible assets	78,500
Goodwill	204,426
Accounts payable and other liabilities	(4,146)
Consumer incentive liability	(15,101)
Total purchase consideration	$	277,148

Identifiable Intangible Assets Acquired

The following table presents the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (dollars in thousands):

	Fair Value		Useful life (in years)
Trade name	$	2,500	3.0
Developed technology	36,000		6.0
Merchant relationships	21,000		5.0
Partner relationships	2,000		7.0
Card-linked subscriber user base	$	17,000	5.0

Business Acquisition, Pro Forma Information

Consequently, actual results will differ from the unaudited pro forma information presented below.

	Six Months Ended June 30,
	2020		2021
Revenue	$	80,676	$	119,453
Net loss	$	(63,126)	$	(80,535)