Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Schedule of financial instruments measured at fair value on a recurring basis

		September 30, 2020
	Level I		Level II		Level III		Total
Contingent consideration1	$	—	$	—	$	777	$	777
Contingent consideration2		—		—		10,913		10,913

Note

¹   This represents the liability incurred in connection with the acquisition of DBOT shares during the three months ended September 30, 2019 and as remeasured as of April 17, 2020 as disclosed in Note 6(c). The contractual period which required periodic remeasurement has expired, and therefore the Company will not remeasure this liability in the future. The Company issued 1.6 million shares in the three months ended September 30, 2020 and partially satisfied this liability.

²   This represents the liability incurred in connection with the acquisition of Tree Technology shares during the three months ended December 31, 2019 and as subsequently remeasured as of September 30, 2020 as disclosed in Note 6(a).

Schedule of reconciliation of level 3 fair value measurements

	Contingent
	Consideration
January 1, 2020	$	24,656
Measurement period adjustment		(1,990)
Settlement		(8,076)
Remeasurement (loss)/gain recognized in the income statement		(2,900)
September 30, 2020	$	11,690

Black-Scholes Merton model

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Schedule of significant inputs and assumptions

	March 31, 2020		December 31, 2019
Risk-free interest rate	0.1	%	1.6	%
Expected volatility	30	%	30	%
Expected term	0.08 years		0.25 years
Expected dividend yield	—	%	—	%

Scenario-based method

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Schedule of significant inputs and assumptions

	December 31, 2019
Weighted-average cost of capital	15.0	%