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CONTINGENTLY REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ (DEFICIT) EQUITY (Tables)
12 Months Ended
Dec. 31, 2021
Temporary Equity And Stockholders' Equity Disclosure [Abstract]  
Temporary Equity
Contingently redeemable convertible preferred stock consisted of the following shares as of December 31, 2020 (in millions)):

Contingently Redeemable Convertible Preferred StockShares AuthorizedShares OutstandingCarrying and Liquidation Value
Series A118118$600 
Series B6666500 
Series C4239350 
Series D1211211,297 
Series E1611612,497 
Total 508504$5,244 
Share-based Payment Arrangement, Activity
The following table summarizes the Company’s stock option and restricted stock unit activity during the year ended December 31, 2021:

Stock OptionsRSUs
Weighted
AverageWeighted
Number ofWeightedRemainingAggregateNumber ofAverage
SharesAverageContractualIntrinsic ValueSharesGrant Date
(in millions)Exercise PriceLife (years)(in millions)(in millions)Fair Value
Outstanding at December 31, 202039 $4.19 12 $7.24 
Granted29 22.06 26 43.94 
Exercised / Vested(1)3.29 — — 
Forfeited / Cancelled(2)4.73 (1)27.36 
Outstanding at December 31, 202165 $12.06 7.7$6,018 37 $31.24 
Vested and expected to vest at December 31, 202165 $12.06 7.7$6,018 37 $31.24 
Exercisable at December 31, 202122 $3.95 6.6$2,161 — $— 
The following table summarizes the changes in the Company’s outstanding warrants to purchase common stock:

Weighted
WeightedAverage
AverageRemaining
SharesExerciseContractual
Common Stock Warrants(in millions)PriceTerm
Outstanding at December 31, 2020$6.00 7.6
Granted— — 
Transferred from preferred stock warrant9.09 
Exercised— — 
Cancelled, forfeited or expired— 5.66 
Outstanding at December 31, 202112 $6.84 7.0
Exercisable at December 31, 202112 $6.84 7.0
The following table summarizes the changes in the Company’s outstanding warrants to purchase preferred stock:
Weighted
Average
SharesExercise
Preferred Stock Warrants(in millions)Price
Outstanding at December 31, 2020$9.09 
Granted— — 
Exercised— — 
Cancelled, forfeited, expired, or converted(4)(9.09)
Outstanding at December 31, 2021— $— 
Exercisable at December 31, 2021— $— 
Schedule Of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions
The weighted-average assumptions used in the Black-Scholes model for warrants granted during the years ended December 31, 2019 and 2020 are as follows:

Years Ended December 31,
20192020
Volatility44.4 %54.7 %
Dividend yield— %— %
Risk-free rate1.9 %0.7 %
Contractual term (in years)10.010.0