ThredUp (TDUP) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-40249
Entity Registrant Name	ThredUp Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-4009181
Entity Address, Address Line One	969 Broadway
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Oakland
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94607
City Area Code	415
Local Phone Number	402-5202
Title of each class	Class A common stock, $0.0001 par value per share
Trading Symbol(s)	TDUP
Name of each exchange on which registered	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001484778
Current Fiscal Year End Date	--12-31
Common stock Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		58,666,102
Common stock Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		40,383,662

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 68,597	$ 84,550
Marketable securities	115,189	121,277
Accounts receivable, net	2,971	4,136
Inventory, net	12,025	9,825
Other current assets	9,634	8,625
Total current assets	208,416	228,413
Operating lease right-of-use assets	42,937	39,340
Property and equipment, net	73,132	55,466
Goodwill	12,043	12,238
Intangible assets	12,942	13,854
Other assets	11,558	11,515
Total assets	361,028	360,826
Current liabilities
Accounts payable	19,529	13,336
Accrued and other current liabilities	50,970	45,253
Seller payable	20,640	19,125
Operating lease liabilities, current	4,433	3,931
Current portion of long-term debt	7,780	7,768
Total current liabilities	103,352	89,413
Operating lease liabilities, non-current	42,030	36,997
Long-term debt	25,634	27,559
Other non-current liabilities	2,324	1,123
Total liabilities	173,340	155,092
Commitments and contingencies (Note 11)
Convertible preferred stock: $0.0001 par value; 100,000 shares authorized as of March 31, 2022 and December 31, 2021; no shares issued and outstanding as of March 31, 2022 and December 31, 2021	0	0
Stockholders’ equity:
#REF!	10	10
Additional paid-in capital	526,533	522,161
Accumulated other comprehensive loss	(2,804)	(1,094)
Accumulated deficit	(336,051)	(315,343)
Total stockholders’ equity	187,688	205,734
Total liabilities, convertible preferred stock and stockholders’ equity	$ 361,028	$ 360,826

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Liabilities, Convertible Preferred Stock and Stockholders’ Equity
Convertible preferred stock (in dollars per share)	$ 0.0001	$ 0.0001
Convertible preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Convertible preferred stock, shares issued (in shares)	0	0
Convertible preferred stock, shares outstanding (in shares)	0	0
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,120,000,000	1,120,000,000
Common stock, shares issued (in shares)	98,942,000	98,435,000
Common stock, shares outstanding (in shares)	98,942,000	98,435,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Total revenue	$ 72,695	$ 55,680
Cost of revenue:
Total cost of revenue	22,467	15,962
Gross profit	50,228	39,718
Operating expenses:
Operations, product and technology	39,161	28,312
Marketing	16,978	15,446
Sales, general and administrative	14,664	10,638
Total operating expenses	70,803	54,396
Operating loss	(20,575)	(14,678)
Interest expense	(423)	(559)
Other income (expense), net	303	(907)
Loss before provision for income taxes	(20,695)	(16,144)
Provision for income taxes	13	27
Net loss	$ (20,708)	$ (16,171)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.21)	$ (0.86)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.21)	$ (0.86)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	98,624	18,701
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	98,624	18,701
Consignment
Revenue:
Total revenue	$ 47,435	$ 44,688
Cost of revenue:
Total cost of revenue	10,049	10,832
Product
Revenue:
Total revenue	25,260	10,992
Cost of revenue:
Total cost of revenue	$ 12,418	$ 5,130

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (20,708)	$ (16,171)
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(708)	0
Unrealized loss on available-for-sale debt securities	(1,002)	0
Total comprehensive loss	$ (22,418)	$ (16,171)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020	65,971,000
Beginning balance at Dec. 31, 2020	$ 247,041
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock conversion to Class B common stock (in shares)	(65,971,000)
Preferred stock conversion to Class B common stock	$ (247,041)
Ending balance (in shares) at Mar. 31, 2021	0
Ending balance at Mar. 31, 2021	$ 0
Beginning balance (in shares) at Dec. 31, 2020		12,890,000
Beginning balance at Dec. 31, 2020	(222,177)	$ 1	$ 29,989	$ 0	$ (252,167)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		1,458,000
Exercise of stock options	1,875		1,875
Stock-based compensation	3,498		3,498
Conversion of preferred stock warrants to Class B common stock warrants	1,827		1,827
Preferred stock conversion to Class B common stock (in shares)		65,971,000
Preferred stock conversion to Class B common stock	247,041	$ 7	247,034
Sale of Class A common stock upon initial public offering, net of issuance costs (in shares)		13,800,000
Sale of Class A common stock upon initial public offering, net of issuance costs	175,534	$ 1	175,533
Cashless exercise of common stock warrant (in shares)		25,000
Net loss	(16,171)				(16,171)
Ending balance (in shares) at Mar. 31, 2021		94,144,000
Ending balance at Mar. 31, 2021	$ 191,427	$ 9	459,756	0	(268,338)
Beginning balance (in shares) at Dec. 31, 2021	0
Beginning balance at Dec. 31, 2021	$ 0
Ending balance (in shares) at Mar. 31, 2022	0
Ending balance at Mar. 31, 2022	$ 0
Beginning balance (in shares) at Dec. 31, 2021	98,435,000	98,435,000
Beginning balance at Dec. 31, 2021	$ 205,734	$ 10	522,161	(1,094)	(315,343)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		334,000
Exercise of stock options	754		754
Stock-based compensation	3,618		3,618
Issuance of common stock to settle restricted stock units (in shares)		173,000
Other comprehensive loss	(1,710)			(1,710)
Net loss	$ (20,708)				(20,708)
Ending balance (in shares) at Mar. 31, 2022	98,942,000	98,942,000
Ending balance at Mar. 31, 2022	$ 187,688	$ 10	$ 526,533	$ (2,804)	$ (336,051)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss	$ (20,708)	$ (16,171)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	3,271	2,038
Stock-based compensation expense	3,523	3,498
Reduction in the carrying amount of right-of-use assets	1,398	1,318
Changes in fair value of convertible preferred stock warrants and others	481	1,048
Changes in operating assets and liabilities:
Accounts receivable, net	1,143	97
Inventory, net	(2,313)	37
Other current and non-current assets	(2,162)	(457)
Accounts payable	1,601	4,722
Accrued and other current liabilities	4,912	4,784
Seller payable	1,521	1,470
Operating lease liabilities	539	(1,311)
Other non-current liabilities	115	4
Net cash (used in) provided by operating activities	(6,679)	1,077
Cash flows from investing activities
Maturities of marketable securities	4,726	0
Purchase of property and equipment	(12,638)	(4,099)
Net cash used in investing activities	(7,912)	(4,099)
Cash flows from financing activities
Proceeds from debt issuance	0	4,625
Repayment of debt	(2,000)	0
Proceeds from issuance of Class A common stock, net of underwriting discounts and commissions	0	180,284
Proceeds from exercise of common stock options	809	1,875
Payment of costs for the initial public offering	0	(1,733)
Net cash (used in) provided by financing activities	(1,191)	185,051
Effect of exchange rate changes on cash and cash equivalents	(172)	0
Net (decrease) increase in cash, cash equivalents and restricted cash	(15,954)	182,029
Cash, cash equivalents and restricted cash
Beginning of period	91,840	67,539
End of period	$ 75,886	$ 249,568

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business ThredUp Inc. (“ThredUp” or the “Company”) was formed as a corporation in the State of Delaware in January 2009. ThredUp is a large resale platform that enables consumers to buy and sell primarily secondhand women’s and kid’s apparel, shoes and accessories. The Company has corporate offices in Oakland, California, Scottsdale, Arizona and Bulgaria, distribution centers in Pennsylvania, Georgia, Arizona and Bulgaria and processing centers in Texas and Tennessee. We have additional distribution centers in Texas and Bulgaria under construction.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation and Use of Estimates The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany account balances and transactions have been eliminated upon consolidation. The unaudited condensed consolidated financial statements were prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) for interim financial information and with the instructions to Quarterly Report on Form 10‑Q and Article 10 of Regulation S-X. As permitted under those rules, certain footnotes or other financial information can be condensed or omitted. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and the related disclosures. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, but are not limited to, the useful lives of property and equipment and intangibles, allowance for sales returns, allowance for bad debts, breakage on loyalty points and rewards and valuation of inventory, stock-based compensation, right-of-use assets, goodwill and acquired intangibles and income taxes. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal and recurring adjustments necessary to present fairly the financial position of the Company as of March 31, 2022, and the results of operations and cash flows for the interim periods presented. The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the year ended December 31, 2021, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 22, 2022. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, marketable securities and accounts receivable. The Company deposits cash at major financial institutions, and at times, such cash may exceed federally insured limits. The credit risk is believed to be minimal due to the financial position of the depository institutions in which those deposits are held. The Company has never experienced any losses on deposits since inception. The Company’s investment policy restricts cash investments to highly liquid, short to intermediate-term, high grade fixed income securities, and as a result, the Company believes its cash equivalents and marketable securities represent minimal credit risk. Revenue from Loyalty Reward Redemption or Expiration As of March 31, 2022 and December 31, 2021, the Company had a liability of $3.4 million and $4.0 million, respectively, related to the loyalty program which is included in accrued and other current liabilities in the consolidated balance sheets. The Company recognized $2.7 million and $3.3 million of revenue from loyalty reward redemption or expiration for the three months ended March 31, 2022 and 2021, respectively. Net Loss Per Share Attributable to Common Stockholders The Company follows the two-class method when computing net loss per common share when shares issued meet the definition of participating securities. The rights, including the liquidation and dividend rights and sharing of losses, of the Class A common stock and Class B common stock are identical, other than voting rights. As the liquidation and dividend rights and sharing of losses are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share attributed to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. For periods in which the Company reports net losses, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, because potentially dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows (in thousands): March 31, December 31, 2022 2021 Cash and cash equivalents $ 68,597 $ 84,550 Restricted cash, current 560 560 Restricted cash, non-current 6,729 6,730 Total cash, cash equivalents and restricted cash $ 75,886 $ 91,840 Restricted cash, non-current of $6.7 million and $6.7 million is included in the other assets in the condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively . Fair Value Measurements Fair value accounting is applied for all financial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis (at least annually). As of March 31, 2022 and December 31, 2021, the carrying amount of accounts receivable, other current assets, other assets, accounts payable, seller payable and accrued and other current liabilities approximated their estimated fair value due to their relatively short maturities. Management believes the terms of its long-term debt reflect current market conditions for an instrument with similar terms and maturity, therefore the carrying value of the Company’s debt approximated its fair value. Assets and liabilities recorded at fair value on a recurring basis on the consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows: Level 1—Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2—Inputs (other than quoted prices in active markets included in Level 1) are either directly or indirectly observable for the asset or liability. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. New Accounting Pronouncements Recently Issued But Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	Financial Instruments and Fair Value Measurements The following table provides the financial instruments measured at fair value (in thousands): Fair Value as of March 31, 2022 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market fund $ 8,858 $ — $ — $ 8,858 U.S. treasury securities 4,798 — — 4,798 Commercial paper — 18,532 — 18,532 U.S. government agency bonds 2,450 — — 2,450 Total cash equivalents $ 16,106 $ 18,532 $ — $ 34,638 Marketable securities Corporate debt securities $ 50,573 $ — $ — $ 50,573 U.S. treasury securities 36,873 — — 36,873 U.S. government agency bonds 27,743 — — 27,743 Total marketable securities $ 115,189 $ — $ — $ 115,189 Total $ 131,295 $ 18,532 $ — $ 149,827 Fair Value as of December 31, 2021 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market fund $ 41,376 $ — $ — $ 41,376 Commercial paper — 12,098 — 12,098 Total cash equivalents $ 41,376 $ 12,098 $ — $ 53,474 Marketable securities Corporate debt securities $ 55,921 $ — $ — $ 55,921 U.S. treasury securities 37,190 — — 37,190 U.S. government agency bonds 28,166 — — 28,166 Total marketable securities $ 121,277 $ — $ — $ 121,277 Total $ 162,653 $ 12,098 $ — $ 174,751 The following tables summarize the cost or amortized cost, gross unrealized gains, gross unrealized losses and fair value of the marketable securities as of March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 Cost or Amortized Cost Unrealized Fair Value Gains Losses Corporate debt securities $ 51,106 $ — $ (533) $ 50,573 U.S. treasury securities 37,267 — (394) 36,873 U.S. government agency bonds 28,183 — (440) 27,743 Total $ 116,556 $ — $ (1,367) $ 115,189 December 31, 2021 Cost or Amortized Cost Unrealized Fair Value Gains Losses Corporate debt securities $ 56,098 $ — $ (177) $ 55,921 U.S. treasury securities 37,286 — (96) 37,190 U.S. government agency bonds 28,258 — (92) 28,166 Total $ 121,642 $ — $ (365) $ 121,277 As of March 31, 2022 and December 31, 2021, the amortized cost of the Company’s cash equivalents approximate their estimated fair value. As such, there are no unrealized gains or losses related to the Company’s cash equivalents. For all of the marketable securities, the Company utilizes third-party pricing services to obtain fair value. Third-party pricing methodologies incorporate bond terms and conditions, current performance data, proprietary pricing models, real-time quotes from contributing dealers, trade prices and other market data. The Company’s money market funds, U.S. treasury securities, corporate debt securities and U.S. government agency bonds were valued using Level 1 inputs because they are valued using quoted market prices. The Company’s commercial papers were valued using Level 2 inputs because they are valued using quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. There were no transfers between levels during the three months ended March 31, 2022. As of March 31, 2022, of the $115.2 million carrying amount of marketable securities, $71.6 million had a contractual maturity date of less than one year and $43.6 million had a contractual maturity date between one to two years.

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consists of the following (in thousands): March 31, December 31, 2022 2021 Property and equipment $ 96,316 $ 76,028 Less: accumulated depreciation and amortization (23,184) (20,562) Property and equipment, net $ 73,132 $ 55,466

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The goodwill is primarily attributable to the planned growth in the combined business after the acquisition of Remix Global EAD (“Remix”). Goodwill is not amortized to earnings, but instead is reviewed for impairment at least annually, absent any interim indicators of impairment. The carrying amount of goodwill was $12.0 million as of March 31, 2022 and $12.2 million as of December 31, 2021. The change is due to the foreign currency translation adjustments. The gross carrying amounts and accumulated amortization of the intangible assets with determinable lives are as follows (in thousands): As of March 31, 2022 Intangible assets with determinable lives Amortization Period (years) Gross carrying amount Accumulated Carrying amount, net Customer relationships 8 $ 5,001 $ (301) $ 4,700 Developed technology 3 4,712 (753) 3,959 Trademarks 9 4,520 (237) 4,283 Total $ 14,233 $ (1,291) $ 12,942 As of December 31, 2021 Intangible assets with determinable lives Amortization Period (years) Gross carrying amount Accumulated Carrying amount, net Customer relationships 8 $ 5,092 $ (150) $ 4,942 Developed technology 3 4,798 (373) 4,425 Trademarks 9 4,602 (115) 4,487 Total $ 14,492 $ (638) $ 13,854 The changes in the gross carrying amounts are due to foreign currency translation.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2022
Balance Sheet Components [Abstract]
Balance Sheet Components	Balance Sheet Components Inventories consist of the following (in thousands): March 31, December 31, 2022 2021 Finished goods $ 9,907 $ 8,247 Raw materials 1,450 908 Work in progress 668 670 $ 12,025 $ 9,825 Accrued and other current liabilities consist of the following (in thousands): March 31, December 31, 2022 2021 Gift card and site credit liabilities $ 13,770 $ 13,223 Accrued vendor liabilities 9,398 6,031 Allowance for returns 7,366 6,209 Accrued compensation 6,795 6,438 Deferred revenue 6,213 5,878 Accrued taxes 5,419 5,728 Accrued other 2,009 1,746 $ 50,970 $ 45,253

Lease Agreements

Lease Agreements	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lease Agreements	Lease Agreements The Company’s operating lease expense was $2.4 million and $2.1 million for the three months ended March 31, 2022 and 2021, respectively. Maturities of operating lease liabilities were as follows as of March 31, 2022 (in thousands): Amount Remainder of 2022 $ 6,804 2023 8,487 2024 7,543 2025 6,740 2026 6,386 Thereafter 29,947 Total lease payments 65,907 Less: imputed interest (14,934) Less: tenant improvement allowance yet to be received (4,510) Total lease liabilities 46,463 Less: current lease liabilities (4,433) Total non-current lease liabilities $ 42,030 In December 2021, the Company entered into an agreement to lease a distribution center in Sofia, Bulgaria. The leased property, which contains both logistics and office areas, is divided into three spaces with separate commencement dates of March 1, 2022 and targeted dates in May 2022 and June 2023. The base rent for the first stage space is approximately €6.1 million or $6.8 million, estimated at March 31, 2022 Euro to USD spot rate, in aggregate over the original term of 10 years from the commencement date.

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt The Company entered into a loan and security agreement (“Term Loan”) with Western Alliance Bank for an aggregate amount up to $40.0 million to refinance its Loan and Security Agreement with Silicon Valley Bank in February 2019. The Term Loan was amended five times before December 31, 2021. The amended interest rate on the Term Loan is the prime rate published in The Wall Street Journal plus 1.5% with a floor of 5.50% per annum. As of March 31, 2022, the nominal interest rate was 5.50% and the effective interest rate was 6.65%. The Company is in compliance with the covenants as of March 31, 2022. The Company has repaid $6.0 million of the Term Loan as of March 31, 2022. The remaining maturities of the loan agreement as of March 31, 2022 are as follows (in thousands): Amount Remainder of 2022 $ 6,000 2023 8,000 2024 20,000 Thereafter — Total future principal 34,000 Less: unamortized debt discount (586) Less: current portion of long-term debt (7,780) Non-current portion of long-term debt $ 25,634

Common Stock

Common Stock	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Common Stock	Common Stock Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to ten votes per share and is convertible at any time into one share of Class A common stock. The table below summarizes the Class A common stock and Class B common stock issued and outstanding as of March 31, 2022. As of March 31, 2022 Authorized Issued and Outstanding (in thousands) Common stock Class A 1,000,000 58,558 Common stock Class B 120,000 40,384 Total common stock 1,120,000 98,942

Stock-Based Compensation Plans

Stock-Based Compensation Plans	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans The Company's stock-based compensation plans are described in more detail in Note 11, Stock-Based Compensation Plans, to the consolidated financial statements in the 2021 Form 10-K. 2021 Stock Option and Ince ntive Plan In February 2021, in connection with the Initial Public Offering (“IPO”), the Company’s board of directors adopted the 2021 Stock Option and Incentive Plan (“2021 Plan”) to replace the Second Amended and Restated 2010 Stock Plan, which was subsequently approved by the Company’s stockholders in March 2021. The 2021 Plan became effective on March 24, 2021. 2021 Employee Stock Purchase Plan In February 2021, the Company’s board of directors adopted the Employee Stock Purchase Plan (“ESPP”), which was subsequently approved by the stockholders in March 2021. The ESPP became effective on March 24, 2021. There was $0.2 million and zero in stock-based compensation related to the ESPP for the three months ended March 31, 2022 and 2021 , respectively. Restricted Stock Units The Company issues service-based and performance-based restricted stock units (“RSU”) to employees. The RSUs automatically convert to shares of the Company’s common stock on a one-for-one basis as the awards vest. RSUs granted to newly hired employees typically vest 25% annually over 4 years commencing on the date of grant. The RSUs are measured at grant date fair value, at the market price of the Company’s Class A common stock on the grant date. The Company records stock-based compensation expense related to the RSUs ratably over the employee’s respective requisite service period. During the three months ended March 31, 2022, the Company granted 749,842 shares of RSUs with a weighted average grant date fair value at $8.81 under the 2021 Plan. Stock-based Compensation Total stock-based compensation expense by department is as follows (in thousands): Three Months Ended 2022 2021 Operations, product and technology $ 1,392 $ 1,350 Marketing 333 437 Sales, general and administrative 1,798 1,711 Total stock-based compensation expense $ 3,523 $ 3,498

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Contingencies The Company is subject to litigation claims and assessments from time to time in the ordinary course of business. The Company’s management does not believe that any such matters, individually or in the aggregate, will have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. Indemnifications In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnification. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but that have not yet been made.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe quarterly income tax provision reflects an estimate of the corresponding quarter’s state taxes in the United States. The provision for income tax expense for the three months ended March 31, 2022 and 2021 was determined based upon estimates of the Company’s annual effective tax rate for the years ending December 31, 2022 and 2021, respectively. Since the Company is in a full valuation allowance position, due to losses incurred since inception, the provision for taxes consist solely of certain state income taxes.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders The following participating securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have been anti-dilutive: As of March 31, 2022 2021 (in thousands) Outstanding stock options 18,825 22,068 Restricted stock units 1,830 96 Delayed share issuance related to acquisition 130 — Employee stock purchase plan 105 — Outstanding Class B common stock warrants — 138 Total 20,890 22,302

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany account balances and transactions have been eliminated upon consolidation. The unaudited condensed consolidated financial statements were prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) for interim financial information and with the instructions to Quarterly Report on Form 10‑Q and Article 10 of Regulation S-X. As permitted under those rules, certain footnotes or other financial information can be condensed or omitted.
Use of Estimates	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and the related disclosures. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, but are not limited to, the useful lives of property and equipment and intangibles, allowance for sales returns, allowance for bad debts, breakage on loyalty points and rewards and valuation of inventory, stock-based compensation, right-of-use assets, goodwill and acquired intangibles and income taxes.
Concentrations of Credit Risk	Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, marketable securities and accounts receivable. The Company deposits cash at major financial institutions, and at times, such cash may exceed federally insured limits. The credit risk is believed to be minimal due to the financial position of the depository institutions in which those deposits are held. The Company has never experienced any losses on deposits since inception. The Company’s investment policy restricts cash investments to highly liquid, short to intermediate-term, high grade fixed income securities, and as a result, the Company believes its cash equivalents and marketable securities represent minimal credit risk.
Net Loss Per Share Attributable to Common Stockholders	The Company follows the two-class method when computing net loss per common share when shares issued meet the definition of participating securities. The rights, including the liquidation and dividend rights and sharing of losses, of the Class A common stock and Class B common stock are identical, other than voting rights. As the liquidation and dividend rights and sharing of losses are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share attributed to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. For periods in which the Company reports net losses, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, because potentially dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.
Fair Value Measurements	Fair value accounting is applied for all financial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis (at least annually). As of March 31, 2022 and December 31, 2021, the carrying amount of accounts receivable, other current assets, other assets, accounts payable, seller payable and accrued and other current liabilities approximated their estimated fair value due to their relatively short maturities. Management believes the terms of its long-term debt reflect current market conditions for an instrument with similar terms and maturity, therefore the carrying value of the Company’s debt approximated its fair value. Assets and liabilities recorded at fair value on a recurring basis on the consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows: Level 1—Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2—Inputs (other than quoted prices in active markets included in Level 1) are either directly or indirectly observable for the asset or liability. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
New Accounting Pronouncements Recently Issue But Not Yet Adopted	New Accounting Pronouncements Recently Issued But Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows (in thousands): March 31, December 31, 2022 2021 Cash and cash equivalents $ 68,597 $ 84,550 Restricted cash, current 560 560 Restricted cash, non-current 6,729 6,730 Total cash, cash equivalents and restricted cash $ 75,886 $ 91,840
Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows (in thousands): March 31, December 31, 2022 2021 Cash and cash equivalents $ 68,597 $ 84,550 Restricted cash, current 560 560 Restricted cash, non-current 6,729 6,730 Total cash, cash equivalents and restricted cash $ 75,886 $ 91,840

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Measured at Fair Value	The following table provides the financial instruments measured at fair value (in thousands): Fair Value as of March 31, 2022 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market fund $ 8,858 $ — $ — $ 8,858 U.S. treasury securities 4,798 — — 4,798 Commercial paper — 18,532 — 18,532 U.S. government agency bonds 2,450 — — 2,450 Total cash equivalents $ 16,106 $ 18,532 $ — $ 34,638 Marketable securities Corporate debt securities $ 50,573 $ — $ — $ 50,573 U.S. treasury securities 36,873 — — 36,873 U.S. government agency bonds 27,743 — — 27,743 Total marketable securities $ 115,189 $ — $ — $ 115,189 Total $ 131,295 $ 18,532 $ — $ 149,827 Fair Value as of December 31, 2021 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market fund $ 41,376 $ — $ — $ 41,376 Commercial paper — 12,098 — 12,098 Total cash equivalents $ 41,376 $ 12,098 $ — $ 53,474 Marketable securities Corporate debt securities $ 55,921 $ — $ — $ 55,921 U.S. treasury securities 37,190 — — 37,190 U.S. government agency bonds 28,166 — — 28,166 Total marketable securities $ 121,277 $ — $ — $ 121,277 Total $ 162,653 $ 12,098 $ — $ 174,751 The following tables summarize the cost or amortized cost, gross unrealized gains, gross unrealized losses and fair value of the marketable securities as of March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 Cost or Amortized Cost Unrealized Fair Value Gains Losses Corporate debt securities $ 51,106 $ — $ (533) $ 50,573 U.S. treasury securities 37,267 — (394) 36,873 U.S. government agency bonds 28,183 — (440) 27,743 Total $ 116,556 $ — $ (1,367) $ 115,189 December 31, 2021 Cost or Amortized Cost Unrealized Fair Value Gains Losses Corporate debt securities $ 56,098 $ — $ (177) $ 55,921 U.S. treasury securities 37,286 — (96) 37,190 U.S. government agency bonds 28,258 — (92) 28,166 Total $ 121,642 $ — $ (365) $ 121,277

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following (in thousands): March 31, December 31, 2022 2021 Property and equipment $ 96,316 $ 76,028 Less: accumulated depreciation and amortization (23,184) (20,562) Property and equipment, net $ 73,132 $ 55,466

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The gross carrying amounts and accumulated amortization of the intangible assets with determinable lives are as follows (in thousands): As of March 31, 2022 Intangible assets with determinable lives Amortization Period (years) Gross carrying amount Accumulated Carrying amount, net Customer relationships 8 $ 5,001 $ (301) $ 4,700 Developed technology 3 4,712 (753) 3,959 Trademarks 9 4,520 (237) 4,283 Total $ 14,233 $ (1,291) $ 12,942 As of December 31, 2021 Intangible assets with determinable lives Amortization Period (years) Gross carrying amount Accumulated Carrying amount, net Customer relationships 8 $ 5,092 $ (150) $ 4,942 Developed technology 3 4,798 (373) 4,425 Trademarks 9 4,602 (115) 4,487 Total $ 14,492 $ (638) $ 13,854

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2022
Balance Sheet Components [Abstract]
Schedule of Inventory	Inventories consist of the following (in thousands): March 31, December 31, 2022 2021 Finished goods $ 9,907 $ 8,247 Raw materials 1,450 908 Work in progress 668 670 $ 12,025 $ 9,825
Schedule of Other Current Liabilities	Accrued and other current liabilities consist of the following (in thousands): March 31, December 31, 2022 2021 Gift card and site credit liabilities $ 13,770 $ 13,223 Accrued vendor liabilities 9,398 6,031 Allowance for returns 7,366 6,209 Accrued compensation 6,795 6,438 Deferred revenue 6,213 5,878 Accrued taxes 5,419 5,728 Accrued other 2,009 1,746 $ 50,970 $ 45,253

Lease Agreements (Tables)

Lease Agreements (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities were as follows as of March 31, 2022 (in thousands): Amount Remainder of 2022 $ 6,804 2023 8,487 2024 7,543 2025 6,740 2026 6,386 Thereafter 29,947 Total lease payments 65,907 Less: imputed interest (14,934) Less: tenant improvement allowance yet to be received (4,510) Total lease liabilities 46,463 Less: current lease liabilities (4,433) Total non-current lease liabilities $ 42,030

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Maturities of Debt	The remaining maturities of the loan agreement as of March 31, 2022 are as follows (in thousands): Amount Remainder of 2022 $ 6,000 2023 8,000 2024 20,000 Thereafter — Total future principal 34,000 Less: unamortized debt discount (586) Less: current portion of long-term debt (7,780) Non-current portion of long-term debt $ 25,634

Common Stock (Tables)

Common Stock (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Common Stock Issued and Outstanding	The table below summarizes the Class A common stock and Class B common stock issued and outstanding as of March 31, 2022. As of March 31, 2022 Authorized Issued and Outstanding (in thousands) Common stock Class A 1,000,000 58,558 Common stock Class B 120,000 40,384 Total common stock 1,120,000 98,942

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	Total stock-based compensation expense by department is as follows (in thousands): Three Months Ended 2022 2021 Operations, product and technology $ 1,392 $ 1,350 Marketing 333 437 Sales, general and administrative 1,798 1,711 Total stock-based compensation expense $ 3,523 $ 3,498

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Participating Securities Excluded From the Computation of Diluted Net Loss Per Share	The following participating securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have been anti-dilutive: As of March 31, 2022 2021 (in thousands) Outstanding stock options 18,825 22,068 Restricted stock units 1,830 96 Delayed share issuance related to acquisition 130 — Employee stock purchase plan 105 — Outstanding Class B common stock warrants — 138 Total 20,890 22,302

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Revenue from External Customer [Line Items]
Liability	$ 13,770		$ 13,223
Restricted cash, non-current	6,729		6,730
Loyalty Program
Revenue from External Customer [Line Items]
Revenue recognized	2,700	$ 3,300
Loyalty Program | Transferred over Time
Revenue from External Customer [Line Items]
Liability	$ 3,400		$ 4,000

Significant Accounting Polici_5

Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 68,597	$ 84,550
Restricted cash, current	560	560
Restricted cash, non-current	6,729	6,730
Total cash, cash equivalents and restricted cash	$ 75,886	$ 91,840	$ 249,568	$ 67,539

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Marketable securities	$ 115,189	$ 121,277
Fair Value, Recurring
Assets
Total cash equivalents	34,638	53,474
Marketable securities	115,189	121,277
Total	149,827	174,751
Fair Value, Recurring | Corporate debt securities
Assets
Marketable securities	50,573	55,921
Fair Value, Recurring | U.S. treasury securities
Assets
Marketable securities	36,873	37,190
Fair Value, Recurring | U.S. government agency bonds
Assets
Marketable securities	27,743	28,166
Fair Value, Recurring | Money market fund
Assets
Total cash equivalents	8,858	41,376
Fair Value, Recurring | U.S. treasury securities
Assets
Total cash equivalents	4,798
Fair Value, Recurring | Commercial paper
Assets
Total cash equivalents	18,532	12,098
Fair Value, Recurring | U.S. government agency bonds
Assets
Total cash equivalents	2,450
Fair Value, Recurring | Level 1
Assets
Total cash equivalents	16,106	41,376
Marketable securities	115,189	121,277
Total	131,295	162,653
Fair Value, Recurring | Level 1 | Corporate debt securities
Assets
Marketable securities	50,573	55,921
Fair Value, Recurring | Level 1 | U.S. treasury securities
Assets
Marketable securities	36,873	37,190
Fair Value, Recurring | Level 1 | U.S. government agency bonds
Assets
Marketable securities	27,743	28,166
Fair Value, Recurring | Level 1 | Money market fund
Assets
Total cash equivalents	8,858	41,376
Fair Value, Recurring | Level 1 | U.S. treasury securities
Assets
Total cash equivalents	4,798
Fair Value, Recurring | Level 1 | Commercial paper
Assets
Total cash equivalents	0	0
Fair Value, Recurring | Level 1 | U.S. government agency bonds
Assets
Total cash equivalents	2,450
Fair Value, Recurring | Level 2
Assets
Total cash equivalents	18,532	12,098
Marketable securities	0	0
Total	18,532	12,098
Fair Value, Recurring | Level 2 | Corporate debt securities
Assets
Marketable securities	0	0
Fair Value, Recurring | Level 2 | U.S. treasury securities
Assets
Marketable securities	0	0
Fair Value, Recurring | Level 2 | U.S. government agency bonds
Assets
Marketable securities	0	0
Fair Value, Recurring | Level 2 | Money market fund
Assets
Total cash equivalents	0	0
Fair Value, Recurring | Level 2 | U.S. treasury securities
Assets
Total cash equivalents	0
Fair Value, Recurring | Level 2 | Commercial paper
Assets
Total cash equivalents	18,532	12,098
Fair Value, Recurring | Level 2 | U.S. government agency bonds
Assets
Total cash equivalents	0
Fair Value, Recurring | Level 3
Assets
Total cash equivalents	0	0
Marketable securities	0	0
Total	0	0
Fair Value, Recurring | Level 3 | Corporate debt securities
Assets
Marketable securities	0	0
Fair Value, Recurring | Level 3 | U.S. treasury securities
Assets
Marketable securities	0	0
Fair Value, Recurring | Level 3 | U.S. government agency bonds
Assets
Marketable securities	0	0
Fair Value, Recurring | Level 3 | Money market fund
Assets
Total cash equivalents	0	0
Fair Value, Recurring | Level 3 | U.S. treasury securities
Assets
Total cash equivalents	0
Fair Value, Recurring | Level 3 | Commercial paper
Assets
Total cash equivalents	0	$ 0
Fair Value, Recurring | Level 3 | U.S. government agency bonds
Assets
Total cash equivalents	$ 0

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Amortized Cost, Unrealized Gain (Loss) and Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Abstract]
Cost or Amortized Cost	$ 116,556	$ 121,642
Unrealized Gains	0	0
Unrealized Losses	(1,367)	(365)
Fair Value	115,189	121,277
Corporate debt securities
Debt Securities, Available-for-sale [Abstract]
Cost or Amortized Cost	51,106	56,098
Unrealized Gains	0	0
Unrealized Losses	(533)	(177)
Fair Value	50,573	55,921
U.S. treasury securities
Debt Securities, Available-for-sale [Abstract]
Cost or Amortized Cost	37,267	37,286
Unrealized Gains	0	0
Unrealized Losses	(394)	(96)
Fair Value	36,873	37,190
U.S. government agency bonds
Debt Securities, Available-for-sale [Abstract]
Cost or Amortized Cost	28,183	28,258
Unrealized Gains	0	0
Unrealized Losses	(440)	(92)
Fair Value	$ 27,743	$ 28,166

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current	$ 115,189	$ 121,277
Marketable securities, between one to two years	71,600
Marketable securities, less than one year	43,600
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current	$ 115,189	$ 121,277

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and equipment	$ 96,316	$ 76,028
Less: accumulated depreciation and amortization	(23,184)	(20,562)
Property and equipment, net	$ 73,132	$ 55,466

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 2.6	$ 2

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 12,043		$ 12,238
Amortization	$ 700	$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 14,233	$ 14,492
Accumulated amortization	(1,291)	(638)
Carrying amount, net	$ 12,942	$ 13,854
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization Period (years)	8 years	8 years
Gross carrying amount	$ 5,001	$ 5,092
Accumulated amortization	(301)	(150)
Carrying amount, net	$ 4,700	$ 4,942
Developed technology
Finite-Lived Intangible Assets [Line Items]
Amortization Period (years)	3 years	3 years
Gross carrying amount	$ 4,712	$ 4,798
Accumulated amortization	(753)	(373)
Carrying amount, net	$ 3,959	$ 4,425
Trademarks
Finite-Lived Intangible Assets [Line Items]
Amortization Period (years)	9 years	9 years
Gross carrying amount	$ 4,520	$ 4,602
Accumulated amortization	(237)	(115)
Carrying amount, net	$ 4,283	$ 4,487

Balance Sheet Components - Inve

Balance Sheet Components - Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Finished goods	$ 9,907	$ 8,247
Raw materials	1,450	908
Work in progress	668	670
Inventory, net	$ 12,025	$ 9,825

Balance Sheet Components - Accr

Balance Sheet Components - Accrued and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Components [Abstract]
Gift card and site credit liabilities	$ 13,770	$ 13,223
Accrued vendor liabilities	9,398	6,031
Allowance for returns	7,366	6,209
Accrued compensation	6,795	6,438
Deferred revenue	6,213	5,878
Accrued taxes	5,419	5,728
Accrued other	2,009	1,746
Total	$ 50,970	$ 45,253

Lease Agreements - Narrative (D

Lease Agreements - Narrative (Details) $ in Thousands, € in Millions	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022EUR (€)	Dec. 31, 2021space
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 2,400	$ 2,100
Base rent	$ 46,463
Bulgaria
Lessee, Lease, Description [Line Items]
Number of spaces in leased property | space				3
Lease term	10 years		10 years
Base rent	$ 6,800		€ 6.1
Base rent, lease not yet commenced	$ 4,700		€ 4.3
Lease not yet commenced, term of contract	10 years		10 years

Lease Agreements - Maturities o

Lease Agreements - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Remainder of 2022	$ 6,804
2023	8,487
2024	7,543
2025	6,740
2026	6,386
Thereafter	29,947
Total lease payments	65,907
Less: imputed interest	(14,934)
Less: tenant improvement allowance yet to be received	(4,510)
Total lease liabilities	46,463
Less: current lease liabilities	(4,433)	$ (3,931)
Total non-current lease liabilities	$ 42,030	$ 36,997

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details)	May 14, 2021	Mar. 31, 2022USD ($)amendment	Mar. 31, 2021USD ($)	Feb. 28, 2021USD ($)
Debt Instrument [Line Items]
Number of amendments | amendment		5
Repayment of debt		$ 2,000,000	$ 0
Medium-term Notes | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 40,000,000
Debt instrument, floor percentage	5.50%
Stated interest rate		5.50%
Effective interest rate		6.65%
Repayment of debt		$ 6,000,000
Medium-term Notes | Term Loan | Prime Rate | Minimum
Debt Instrument [Line Items]
Variable interest rate	1.50%

Long-term Debt - Schedule of Ma

Long-term Debt - Schedule of Maturities of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Remainder of 2022	$ 6,000
2023	8,000
2024	20,000
Thereafter	0
Total future principal	34,000
Less: unamortized debt discount	(586)
Less: current portion of long-term debt	(7,780)	$ (7,768)
Non-current portion of long-term debt	$ 25,634	$ 27,559

Common Stock - Narrative (Detai

Common Stock - Narrative (Details)	3 Months Ended
	Mar. 31, 2022voteshares
Common stock Class A
Class of Stock [Line Items]
Number of votes for each share	1
Common stock Class B
Class of Stock [Line Items]
Number of votes for each share	10
Conversion of stock (in shares) | shares	1

Common Stock - Schedule of Comm

Common Stock - Schedule of Common Stock Issued and Outstanding (Details) - shares	Mar. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Authorized (in shares)	1,120,000,000	1,120,000,000
Issued (in shares)	98,942,000	98,435,000
Outstanding (in shares)	98,942,000	98,435,000
Common stock Class A
Class of Stock [Line Items]
Authorized (in shares)	1,000,000,000
Issued (in shares)	58,558,000
Outstanding (in shares)	58,558,000
Common stock Class B
Class of Stock [Line Items]
Authorized (in shares)	120,000,000
Issued (in shares)	40,384,000
Outstanding (in shares)	40,384,000

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 3,523	$ 3,498
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 200	$ 0
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of stock (in shares)	1
Vesting percentage	25.00%
Vesting percentage period	4 years
RSUs granted (in shares)	749,842
Weighted average grant date fair value (in dollars per share)	$ 8.81

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 3,523	$ 3,498
Operations, product and technology
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,392	1,350
Marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	333	437
Sales, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,798	$ 1,711

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	20,890	22,302
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	18,825	22,068
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	1,830	96
Delayed share issuance related to acquisition
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	130	0
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	105	0
Outstanding Class B common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	0	138