Airbnb (ABNB) 10-K 17 Feb 23 2022 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Feb. 03, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-39778
Entity Registrant Name	Airbnb, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-3051428
Entity Address, Address Line One	888 Brannan Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94103
City Area Code	415
Local Phone Number	510-4027
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	ABNB
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 35.1
Documents Incorporated by Reference	The information required by Part III of this Report, to the extent not set forth herein, is incorporated herein by reference from the registrant’s definitive proxy statement relating to the Annual Meeting of Shareholders to be held in 2023, which definitive proxy statement shall be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Report relates.
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001559720
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		408,928,427
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		222,400,067
Common Class C
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Common Class H
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		9,200,000

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	San Francisco, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 7,378	$ 6,067
Marketable securities	2,244	2,255
Funds receivable and amounts held on behalf of customers	4,783	3,715
Prepaids and other current assets (including customer receivables of $143 and $200 and allowances of $31 and $39, respectively)	456	349
Total current assets	14,861	12,386
Property and equipment, net	121	157
Operating lease right-of-use assets	138	272
Intangible assets, net	34	52
Goodwill	650	653
Other assets, noncurrent	234	188
Total assets	16,038	13,708
Current liabilities:
Accounts payable	137	118
Operating lease liabilities, current	59	63
Accrued expenses and other current liabilities	1,817	1,559
Funds payable and amounts payable to customers	4,783	3,715
Unearned fees	1,182	904
Total current liabilities	7,978	6,359
Long-term debt	1,987	1,983
Operating lease liabilities, noncurrent	295	372
Other liabilities, noncurrent	218	219
Total liabilities	10,478	8,933
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock	0	0
Additional paid-in capital	11,557	11,140
Accumulated other comprehensive loss	(32)	(7)
Accumulated deficit	(5,965)	(6,358)
Total stockholders’ equity	5,560	4,775
Total liabilities and stockholders’ equity	$ 16,038	$ 13,708

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Customer receivables	$ 200	$ 143
Customer receivables, allowance	$ 39	$ 31
Common stock, par value (in USD per share)	$ 0.0001
Common Class A
Common stock, par value (in USD per share)	$ 0.0001
Common stock authorized (in shares)	2,000,000,000
Common stock issued (in shares)	408,000,000
Common stock outstanding (in shares)	408,000,000
Common Class B
Common stock, par value (in USD per share)	$ 0.0001
Common stock authorized (in shares)	710,000,000
Common stock issued (in shares)	223,000,000
Common stock outstanding (in shares)	223,000,000
Common Class C
Common stock authorized (in shares)	2,000,000,000
Common stock issued (in shares)	0
Common stock outstanding (in shares)	0
Common Class H
Common stock authorized (in shares)	26,000,000
Common stock issued (in shares)	9,000,000
Common stock outstanding (in shares)	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues [Abstract]
Revenue	$ 8,399	$ 5,992	$ 3,378
Costs and expenses:
Cost of revenue	1,499	1,156	876
Operations and support	1,041	847	878
Product development	1,502	1,425	2,753
Sales and marketing	1,516	1,186	1,175
General and administrative	950	836	1,135
Restructuring charges	89.1	112.8	151.4
Total costs and expenses	6,597	5,563	6,968
Income (loss) from operations	1,802	429	(3,590)
Interest income	186	13	27
Interest expense	(24)	(438)	(172)
Other income (expense), net	25	(304)	(947)
Income (loss) before income taxes	1,989	(300)	(4,682)
Provision for (benefit from) income taxes	96	52	(97)
Net income (loss)	$ 1,893	$ (352)	$ (4,585)
Net income (loss) per share attributable to Class A and Class B common stockholders, basic (in USD per share)	$ 2.97	$ (0.57)	$ (16.12)
Net income (loss) per share attributable to Class A and Class B common stockholders, diluted (in USD per share)	$ 2.79	$ (0.57)	$ (16.12)
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders, basic (in shares)	637	616	284
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders, diluted (in Shares)	680	616	284

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,893	$ (352)	$ (4,585)
Other comprehensive income (loss):
Net unrealized loss on available-for-sale marketable securities, net of tax	(15)	(4)	0
Foreign currency translation adjustments	(10)	(6)	7
Other comprehensive income (loss)	(25)	(10)	7
Comprehensive income (loss)	$ 1,868	$ (362)	$ (4,578)

Consolidated Statements of Rede

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2019	240
Beginning balance at Dec. 31, 2019	$ 3,232
Redeemable Convertible Preferred Stock
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering (in shares)	(240)
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering	$ (3,232)
Ending balance (in shares) at Dec. 31, 2020	0
Ending balance at Dec. 31, 2020	$ 0
Beginning Balance (in shares) at Dec. 31, 2019		264
Beginning balance at Dec. 31, 2019	(808)	$ 0	$ 617	$ (4)	$ (1,421)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(4,585)				(4,585)
Other comprehensive income (loss)	7			7
Capital contribution from founders	15		15
Exercise of common stock options (in shares)		7
Exercise of common stock options	15		15
Issuance of common stock in connection with initial public offering, net of underwriting discounts and issuance costs (in shares)		55
Issuance of common stock in connection with initial public offering, net of underwriting discounts and issuance costs	3,651		3,651
Issuance of common stock upon settlement of RSUs, net of shares withheld for taxes (in shares)		32
Issuance of common stock upon settlement of RSUs, net of shares withheld for taxes	(1,650)		(1,650)
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering (in shares)		241
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering	3,231		3,231
Settlement of contingent consideration liability settled in shares	22		22
Stock-based compensation	3,003		3,003
Ending balance (in shares) at Dec. 31, 2020		599
Ending balance at Dec. 31, 2020	$ 2,901	$ 0	8,904	3	(6,006)
Ending balance (in shares) at Dec. 31, 2021	0
Ending balance at Dec. 31, 2021	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(352)				(352)
Other comprehensive income (loss)	$ (10)			(10)
Exercise of common stock options (in shares)	18	18
Exercise of common stock options	$ 138		138
Issuance of common stock upon settlement of RSUs, net of shares withheld for taxes (in shares)		16
Issuance of common stock upon settlement of RSUs, net of shares withheld for taxes	(44)		(44)
Reclassification of derivative warrant liability to equity	1,277		1,277
Purchase of capped calls	(100)		(100)
Issuance of common stock under employee stock purchase plan, net of shares withheld (in shares)		1
Issuance of common stock under employee stock purchase plan, net of shares withheld	51		51
Stock-based compensation	914		914
Ending balance (in shares) at Dec. 31, 2021		634
Ending balance at Dec. 31, 2021	$ 4,775	$ 0	11,140	(7)	(6,358)
Ending balance (in shares) at Dec. 31, 2022	0
Ending balance at Dec. 31, 2022	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,893				1,893
Other comprehensive income (loss)	$ (25)			(25)
Exercise of common stock options (in shares)	3	3
Exercise of common stock options	$ 40	$ 0	40
Issuance of common stock upon settlement of RSUs, net of shares withheld for taxes (in shares)		8
Issuance of common stock upon settlement of RSUs, net of shares withheld for taxes	(612)		(612)
Issuance of common stock under employee stock purchase plan, net of shares withheld	48		48
Stock-based compensation	$ 941		941
Repurchases of common stock (in shares)	(13.8)	(14)
Repurchases of common stock	$ (1,500)				(1,500)
Ending balance (in shares) at Dec. 31, 2022		631
Ending balance at Dec. 31, 2022	$ 5,560	$ 0	$ 11,557	$ (32)	$ (5,965)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 1,893	$ (352)	$ (4,585)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation and amortization	81	138	126
Bad debt expense	49	27.3	107.7
Stock-based compensation expense	930	899	3,003
Deferred income taxes	(1)	11	(20)
Impairment of investments	0	3	82
(Gain) loss on investments, net	(2)	(8)	31
Change in fair value of warrant liability	0	292	869
Foreign exchange (gain) loss	62	24	(53)
Impairment of long-lived assets	91	113	36
Loss from extinguishment of debt	0	377	0
Other, net	8	28	58
Changes in operating assets and liabilities:
Prepaids and other assets	(226)	(54)	(4)
Operating lease right-of-use assets	41	25	(33)
Accounts payable	20	40	(73)
Accrued expenses and other liabilities	273	288	(79)
Operating lease liabilities	(69)	(34)	61
Unearned fees	280	496	(267)
Net cash provided by (used in) operating activities	3,430	2,313	(740)
Cash flows from investing activities:
Purchases of property and equipment	(25)	(25)	(37)
Purchases of marketable securities	(4,072)	(4,938)	(3,033)
Sales of marketable securities	909	1,584	1,348
Maturities of marketable securities	3,162	2,027	1,810
Other investing activities, net	(2)	0	(8)
Net cash provided by (used in) investing activities	(28)	(1,352)	80
Cash flows from financing activities:
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and offering costs	0	0	3,651
Taxes paid related to net share settlement of equity awards	(607)	(177)	(1,527)
Proceeds from exercise of stock options	40	138	15
Proceeds from the issuance of common stock under employee stock purchase plan	48	51	0
Repurchases of common stock	(1,500)	0	0
Principal repayment of long-term debt	0	(1,995)	(5)
Prepayment penalty on long-term debt	0	(213)	0
Proceeds from issuance of long-term debt and warrants, net of issuance costs	0	0	1,929
Proceeds from issuance of convertible senior notes, net of issuance costs	0	1,979	0
Purchases of capped calls related to convertible senior notes	0	(100)	0
Change in funds payable and amounts payable to customers	1,330	1,625	(1,024)
Other financing activities, net	0	0	12
Net cash provided by (used in) financing activities	(689)	1,308	3,051
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(337)	(210)	134
Net increase in cash, cash equivalents, and restricted cash	2,376	2,059	2,525
Cash, cash equivalents, and restricted cash, beginning of year	9,727	7,668	5,143
Cash, cash equivalents, and restricted cash, end of year	12,103	9,727	7,668
Supplemental disclosures of cash flow information:
Cash paid for income taxes, net of refunds	68	17	15
Cash paid for interest	$ 8	$ 50	$ 130

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Airbnb, Inc. (the “Company” or “Airbnb”) was incorporated in Delaware in June 2008 and is headquartered in San Francisco, California. The Company operates a global platform for unique stays and experiences. The Company’s marketplace model connects Hosts and guests (collectively referred to as “customers”) online or through mobile devices to book spaces and experiences around the world.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company has changed its presentation from thousands to millions and, as a result, any necessary rounding adjustments have been made to prior period disclosed amounts. Stock Split On October 26, 2020, the Company effected a two-for-one stock split of its common stock and redeemable convertible preferred stock. All share and per share information has been retroactively adjusted to reflect the stock split for all periods presented. Initial Public Offering The Company’s registration statement on Form S-1 (the “IPO Registration Statement”) related to its initial public offering (“IPO”) was declared effective on December 9, 2020 and the Company’s Class A common stock began trading on the Nasdaq Global Select Market on December 10, 2020. On December 14, 2020, the Company completed its IPO, in which the Company sold 50.0 million shares of Class A common stock at a price to the public of $68.00 per share. On the same day, the Company sold an additional 5.0 million shares of Class A common stock at a price to the public of $68.00 per share pursuant to the exercise of the underwriters’ option to purchase additional shares. The Company received aggregate net proceeds of $3.7 billion after deducting underwriting discounts and commissions of $79.3 million and offering expenses of $9.8 million. Upon completing the IPO, all outstanding shares of the Company’s redeemable convertible preferred stock, of which 239.6 million shares were outstanding prior to the IPO, converted into an aggregate of 240.9 million shares of the Company’s Class B common stock, including 1.3 million shares of common stock issuable pursuant to the anti-dilution adjustment provisions relating to the Company’s Series C redeemable convertible preferred stock. Upon the Company’s IPO, the Company recognized $2.8 billion of stock-based compensation expense for awards with a liquidity-event performance-based vesting condition satisfied at IPO. Shares were then issued related to the vesting of the restricted stock units ("RSUs") with such performance-based vesting conditions. The Company withheld 24.2 million shares of common stock based on the IPO price of $68.00 per share to satisfy tax withholding and remittance of approximately $1.6 billion. Under the Company’s restated certificate of incorporation, which became effective immediately prior to the completion of the IPO, the Company is authorized to issue 4.7 billion shares of common stock, including 2.0 billion shares of Class A common stock, 710.0 million shares of Class B common stock, 2.0 billion shares of Class C common stock and 26.0 million shares of Class H common stock. As a result, following the completion of the IPO, the Company has four classes of authorized common stock: Class A, Class B, Class C, and Class H common stock, of which Class A and Class B had shares outstanding as of December 31, 2020. In November 2020, 9.2 million shares of Class H common stock were issued to the Company’s wholly-owned Host Endowment Fund subsidiary and held as treasury stock. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries and variable interest entities (“VIE”) in which the Company is the primary beneficiary in accordance with consolidation accounting guidance. All intercompany transactions have been eliminated in consolidation. The Company determines, at the inception of each arrangement, whether an entity in which it has made an investment or in which it has other variable interest in is considered a VIE. The Company consolidates a VIE when it is deemed to be the primary beneficiary. The primary beneficiary of a VIE is the party that meets both of the following criteria: (i) has the power to direct the activities that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Periodically, the Company determines whether any changes in its interest or relationship with the entity impact the determination of whether the entity is still a VIE and, if so, whether the Company is the primary beneficiary. If the Company is not deemed to be the primary beneficiary in a VIE, the Company accounts for the investment or other variable interest in a VIE in accordance with applicable U.S. GAAP. As of December 31, 2021 and 2022, the Company’s consolidated VIEs were not material to the consolidated financial statements. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company regularly evaluates its estimates, including those related to bad debt reserves, fair value of investments, useful lives of long-lived assets and intangible assets, valuation of goodwill and intangible assets from acquisitions, contingent liabilities, insurance reserves, revenue recognition, valuation of common stock, stock-based compensation, and income and non-income taxes, among others. Actual results could differ materially from these estimates. As the impact of the coronavirus disease (“COVID-19”) pandemic and the challenging macroeconomic conditions, including inflation and rising interest rates, and potential decreased consumer spending, continues to evolve, estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require increased judgment. These estimates and assumptions may change in future periods and will be recognized in the consolidated financial statements as new events occur and additional information becomes known. To the extent the Company’s actual results differ materially from those estimates and assumptions, the Company’s future consolidated financial statements could be affected. Segment Information Operating segments are defined as components of an entity for which discrete financial information is available and is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in making decisions regarding resource allocation and performance assessment. The Company’s CODM is its Chief Executive Officer. The Company has determined it has one operating and reportable segment as the CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. Cash and Cash Equivalents Cash and cash equivalents are held in checking and interest-bearing accounts and consist of cash and highly-liquid securities with an original maturity of 90 days or less. Marketable Securities The Company considers all highly-liquid investments with original maturities of greater than 90 days to be marketable securities. The Company determines the appropriate classification of its investments in marketable securities at the time of purchase. As the Company views these investments as available to support current operations, it accounts for these debt securities as available-for-sale and classifies them as short-term assets on its consolidated balance sheets. The Company determines realized gains or losses on the sale of equity and debt securities on a specific identification method. Unrealized gains and non-credit related losses on available-for-sale debt securities are reported as a component of accumulated other comprehensive income (loss) in stockholders’ equity (deficit). Realized gains and losses and impairments are reported within other income (expense), net in the consolidated statements of operations. The assessment for impairment takes into account the severity and duration of the decline in value, adverse changes in the market or industry of the investee, the Company’s intent to sell the security, and whether it is more likely than not that it will be required to sell the security before recovery of the amortized cost basis. The Company’s marketable equity securities with readily determinable fair values are measured at fair value on a recurring basis with changes in fair value recognized within other income (expense), net in the consolidated statements of operations. The Company records an impairment of its available-for-sale debt securities if the amortized cost basis exceeds its fair value and if the Company has the intention to sell the security or if it is more likely than not that the Company will be required to sell the security before recovery of the amortized cost basis. If the Company does not have the intention to sell the security and it is not more likely than not that the Company will be required to sell the security before recovery of the amortized cost basis and the Company determines that the unrealized loss is entirely or partially due to credit-related factors, the credit loss is measured and recognized as an allowance on the consolidated balance sheets with a corresponding charge in the consolidated statements of operations. The allowance is measured as the amount by which the debt security’s amortized cost basis exceeds the Company’s best estimate of the present value of cash flows expected to be collected. Any remaining decline in fair value that is non-credit related is recognized in other comprehensive income (loss). Improvements in expected cash flows due to improvements in credit are recognized through reversal of the credit loss and corresponding reduction in the allowance for credit loss. Non-Marketable Investments Non-marketable investments consist of debt and equity investments in privately-held companies, which are classified as other assets, noncurrent on the consolidated balance sheets. The Company classifies its non-marketable investments that meet the definition of a debt security as available-for-sale. The accounting policy for debt securities classified as available-for-sale is described above. The Company’s non-marketable equity investments are accounted for using either the equity method of accounting or as equity investments without readily determinable fair values under the measurement alternative. The Company uses the equity method if it has the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. For investments accounted for using the equity method, the Company’s proportionate share of its equity interest in the net income (loss) and other comprehensive income (loss) of these companies is recorded in the consolidated statements of operations within other income (expense), net. The carrying amount of the investment in equity interests is adjusted to reflect the Company’s interest in the investee’s net income or loss and any impairments and is classified in other assets, noncurrent on the consolidated balance sheets. Equity investments for which the Company is not able to exercise significant influence over the investee and for which fair value is not readily determinable are accounted for using the measurement alternative. Such investments are carried at cost, less any impairments, and are adjusted for subsequent observable price changes obtained from orderly transactions for identical or similar investments issued by the same investee. This election is reassessed each reporting period to determine whether non-marketable equity securities have a readily determinable fair value, in which case they would no longer be eligible for this election. Changes in the basis of the equity investment are recognized in other income (expense), net in the consolidated statements of operations. The Company reviews its non-marketable debt and equity investments for impairment at the end of each reporting period or whenever events or circumstances indicate that the carrying value may not be fully recoverable. Impairment indicators might include negative changes in industry and market conditions, financial performance, business prospects, and other relevant events and factors. Upon determining that an impairment exists, the Company recognizes as an impairment in other income (expense), net in the consolidated statements of operations the amount by which the carrying value exceeds the fair value of the investment. Fair Value of Financial Instruments The Company applies fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements. The authoritative guidance on fair value measurements establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. This hierarchy requires the Company to use observable market data when available and to minimize the use of unobservable inputs when determining fair value. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Financial instruments measured and disclosed at fair value are classified and disclosed based on the observability of inputs used in the determination of fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Observable inputs other than Level 1 prices, such as quoted prices in less active markets or model-derived valuations that are observable either directly or indirectly. Level 3: Unobservable inputs in which there is little or no market data that are significant to the fair value of the assets or liabilities. The carrying amount of the Company’s financial instruments, including cash equivalents, funds receivable and amounts held on behalf of customers, accounts payable, accrued liabilities, funds payable and amounts payable to customers, and unearned fees approximate their respective fair values because of their short maturities. Level 2 Valuation Techniques Financial instruments classified as Level 2 within the Company’s fair value hierarchy are valued on the basis of prices from an orderly transaction between market participants provided by reputable dealers or pricing services. Prices of these securities are obtained through independent, third-party pricing services and include market quotations that may include both observable and unobservable inputs. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices and market transactions in comparable investments, and various relationships between investments. The Company’s foreign exchange derivative instruments are valued using pricing models that take into account the contract terms, as well as multiple inputs where applicable, such as interest rate yield curves and currency rates. Level 3 Valuation Techniques Financial instruments classified as Level 3 within the Company’s fair value hierarchy consist primarily of a derivative warrant liability relating to the warrants issued in conjunction with the second lien loan discussed in Note 9, Debt . Valuation techniques for the derivative warrant liability include the Black-Scholes option-pricing model with key assumptions such as stock price volatility, expected term, and risk-free interest rates. Internal-Use Software The Company capitalizes certain costs in connection with obtaining or developing software for internal use. Amortization of such costs begins when the project is substantially complete and ready for its intended use. Capitalized software development costs are classified as property and equipment, net on the consolidated balance sheets and are amortized using the straight-line method over the estimated useful life of the applicable software. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization on property and equipment is calculated using the straight-line method over the estimated useful lives indicated below: Asset Category Period Computer equipment 5 years Computer software and capitalized internal-use software 1.5 to 3 years Office furniture and equipment 5 years Buildings 25 to 40 years Leasehold improvements Lesser of estimated useful life or remaining lease term Costs of maintenance and repairs that do not improve or extend the useful lives of assets are expensed as incurred. Upon retirement or sale, the cost and related accumulated depreciation are removed from the consolidated balance sheet and the resulting gain or loss is reflected in the consolidated statements of operations. Leases The Company determines whether an arrangement is or contains a lease at inception. Operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease ROU assets represent the Company’s right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs, lease incentives, and impairment of operating lease assets. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company has real estate and equipment lease agreements that contain lease and non-lease components, which are accounted for as a single lease component. The Company’s leases often contain rent escalations over the lease term. The Company recognizes expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives, primarily used to fund leasehold improvements, are recognized when earned and reduce the Company’s right-of-use asset related to the lease. These are amortized through the right-of-use asset as reductions of expense over the lease term. The Company’s lease agreements may contain variable costs such as common area maintenance, operating expenses, or other costs. Variable lease costs are expensed as incurred on the consolidated statements of operations. The Company’s lease agreements generally do not contain any residual value guarantees or restrictive covenants. For substantially all leases with an initial non-cancelable lease term of less than one year and no option to purchase, the Company elected not to recognize the lease on its Consolidated Balance Sheets and instead recognize rent payments on a straight-line basis over the lease term within operating expense on its Consolidated Statements of Operations. Goodwill Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. The Company has one reporting unit. The Company tests goodwill for impairment at least annually in the fourth quarter, or whenever events or changes in circumstances indicate that goodwill might be impaired. The Company uses a two-step process to assess the realizability of goodwill. The first step, Step 0, is a qualitative assessment that analyzes current economic indicators associated with a particular reporting unit. For example, the Company analyzes changes in economic, market and industry conditions, business strategy, cost factors, and financial performance, among others, to determine if there would be a significant decline to the fair value of a reporting unit. A qualitative assessment also includes analyzing the excess fair value of a reporting unit over its carrying value from impairment assessments performed in previous years. If the qualitative assessment indicates a stable or improved fair value, no further testing is required. If a qualitative assessment indicates that a significant decline to fair value of a reporting unit is more likely than not, or if a reporting unit’s fair value has historically been closer to its carrying value, the Company will proceed to Step 1 testing where the Company calculates the fair value of a reporting unit. If Step 1 indicates that the carrying value of a reporting unit is in excess of its fair value, the Company will record an impairment equal to the amount by which a reporting unit’s carrying value exceeds its fair value. There were no impairment charges in any of the periods presented in the consolidated financial statements. Intangible Assets Intangible assets are amortized on a straight-line basis over the estimated useful lives ranging from one Impairment of Long-Lived Assets Long-lived assets that are held and used by the Company are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Determination of recoverability of long-lived assets is based on an estimate of the undiscounted cash flows resulting from the use of the asset and its eventual disposition. If the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third-party independent appraisals, as necessary. Any impairments to ROU assets, leasehold improvements, or other assets as a result of a sublease, abandonment, or other similar factor are recorded as an operating expense. Similar to other long-lived assets, management tests ROU assets for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. For ROU assets, such circumstances may include subleases that do not fully recover the costs of the associated leases or a decision to abandon the use of all or part of an asset. For the years ended December 31, 2020 and 2021, the Company recorded $35.8 million and $112.5 million, respectively, of long-lived asset impairment charges within restructuring charges in the consolidated statement of operations. For the year ended December 31, 2022, the Company recorded $91.4 million of long-lived asset impairment, of which $88.9 million was recorded within restructuring charges and the remainder within general and administrative, in the consolidated statements of operations. Revenue Recognition The Company generates substantially all of its revenue from facilitating guest stays at accommodations offered by Hosts on the Company’s platform. The Company considers both Hosts and guests to be its customers. The customers agree to the Company’s Terms of Service (“ToS”) to use the Company’s platform. Upon confirmation of a booking made by a guest, the Host agrees to provide the use of the property. At such time, the Host and guest also agree upon the applicable booking value as well as Host fees and guest fees (collectively “service fees”). The Company charges service fees in exchange for certain activities, including the use of the Company’s platform, customer support, and payment processing activities. These activities are not distinct from each other and are not separate performance obligations. As a result, the Company’s single performance obligation is to facilitate a stay, which occurs upon the completion of a check-in event (a “check-in”). The Company recognizes revenue upon check-in as its performance obligation is satisfied upon check-in and the Company has the right to receive payment for the fulfillment of the performance obligation. The Company charges service fees to its customers as a percentage of the value of the booking, excluding taxes. The Company collects both the booking value from the guest on behalf of the Host and the applicable guest fees owed to the Company using the guest’s pre-authorized payment method. After check-in, the Company disburses the booking value to the Host, less the fees due from the Host to the Company. The Company’s ToS stipulates that a Host may cancel a confirmed booking at any time up to check-in. Therefore, the Company determined that for accounting purposes, each booking is a separate contract with the Host and guest, and the contracts are not enforceable until check-in. Since an enforceable contract for accounting purposes is not established until check-in, there were no partially satisfied or unsatisfied performance obligations as of December 31, 2021 and 2022. The service fees collected from customers prior to check-in are recorded as unearned fees. Unearned fees are not considered contract balances because they are subject to refund in the event of a cancellation. Guest stays of at least 28 nights are considered long-term stays. The Company charges service fees to facilitate long-term stays on a monthly basis. Such stays are generally cancelable with a 30 days advance notice for no significant penalty. Accordingly, long-term stays are treated as month-to-month contracts; each month is a separate contract with the Host and guest, and the contracts are not enforceable until check-in for the initial month as well as subsequent monthly extensions. The Company’s performance obligation for long-term stays is the same as that for short-term stays. The Company recognizes revenue for the first month upon check-in, similar to short-term stays, and recognizes revenue for any subsequent months upon each month’s anniversary from initial check-in date. The Company evaluates the presentation of revenue on a gross versus net basis based on whether or not it is the principal (gross) or the agent (net) in the transaction. As part of the evaluation, the Company considers whether it controls the right to use the property before control is transferred. Indicators of control that the Company considers include whether the Company is primarily responsible for fulfilling the promise associated with the rental of the property, whether it has inventory risk associated with the property, and whether it has discretion in establishing the prices for the property. The Company determined that it does not control the right to use the properties either before or after completion of its service. Accordingly, the Company has concluded that it is acting in an agent capacity and revenue is presented net reflecting the service fees received from Hosts and guests to facilitate a stay. The Company has elected to recognize the incremental costs of obtaining a contract, including the costs of certain referrer fees, as an expense when incurred as the amortization period of the asset that the Company otherwise would have recognized is one year or less. The Company has no significant financing components in its contracts with customers. The Company has elected to exclude from revenue, taxes assessed by a governmental authority that are both imposed on and are concurrent with specific revenue producing transactions. Accordingly, such amounts are not included as a component of revenue or cost of revenue. Payments to Customers The Company makes payments to customers as part of its referral programs and marketing promotions, collectively referred to as the Company’s incentive programs, and refund activities. The payments are generally in the form of coupon credits to be applied toward future bookings or as cash refunds. Incentive Programs The Company encourages the use of its platform and attracts new customers through its incentive programs. Under the Company’s referral program, the referring party (the “referrer”) earns a coupon when the new guest or Host (the “referee”) completes their first stay on the Company’s platform. Incentives earned by customers for referring new customers are paid in exchange for a distinct service and are accounted for as customer acquisition costs. The Company records the incentive as a liability at the time the incentive is earned by the referrer with the corresponding charge recorded to sales and marketing expense in the same way the Company accounts for other marketing services from third-party vendors. Any amounts paid in excess of the fair value of the referral service received are recorded as a reduction of revenue. Fair value of the service is established using amounts paid to vendors for similar services. Customer referral coupon credits generally expire within one year from issuance and the Company estimates the redemption rates using its historical experience. As of December 31, 2021 and 2022, the referral coupon liability was not material. Through marketing promotions, the Company issues customer coupon credits to encourage the use of its platform. After a customer redeems such incentives, the Company records a reduction to revenue at the date it records the corresponding revenue transaction, as the Company does not receive a distinct good or service in exchange for the customer incentive payment. Refunds In certain instances, the Company issues refunds to customers as part of its customer support activities in the form of cash or credits to be applied toward a future booking. There is no legal obligation to issue such refunds to Hosts or guests on behalf of its customers. The Company accounts for refunds, net of any recoveries, as variable consideration, which results in a reduction to revenue. The Company reduces the transaction price by the estimated amount of the payments by applying the most likely outcome method based on known facts and circumstances and historical experience. The estimate for variable consideration was not material as of December 31, 2021 and 2022. The Company evaluates whether the cumulative amount of payments made to customers that are not in exchange for a distinct good or service received from customers exceeds the cumulative revenue earned since inception of the customer relationships. Any cumulative payments in excess of cumulative revenue are presented within operations and support or sales and marketing on the consolidated statements of operations based on the nature of the payments made to customers. Funds Receivable and Funds Payable Funds receivable and amounts held on behalf of customers represent cash received or in-transit from guests via third-party credit card processors and other payment methods, which the Company remits for payment to the Hosts following check-in. This cash and related receivable represent the total amount due to Hosts, and as such, a liability for the same amount is recorded to funds payable and amounts payable to customers. The Company records guest payments, net of service fees, as funds receivable and amounts held on behalf of customers with a corresponding amount in funds payable and amounts payable to customers when cash is received in advance of check-in. Host and guest fees are recorded as cash with a corresponding amount in unearned fees. For certain bookings, a guest may opt to pay a percentage of the total amount due when the booking is confirmed, with the remaining balance due prior to the stay occurring (the “Pay Less Upfront Program”). Under the Pay Less Upfront Program, when the Company receives the first installment payment from the guest upon confirmation of the booking, the Company records the first installment payment as funds receivable and amounts held on behalf of customers with a corresponding amount in funds payable and amounts payable to customers, net of the Host and guest fees. The full value of the service fees is recorded as cash and cash equivalents and unearned fees upon receipt of the first installment payment to represent what the Company expects to be recognized as revenue if the underlying booking is not canceled. Upon receipt of the second installment, such payment amounts are also recorded as funds receivable and amounts held on behalf of customers with a corresponding amount in funds payable and amounts payable to customers. Following check-in, the Company remits funds due to Hosts and recognizes unearned fees as revenue as its performance obligation is satisfied. Bad Debt The Company generally collects funds related to bookings from guests on behalf of Hosts prior to check-in. However, in limited circumstances the Company disburses funds to a Host or a guest on behalf of a counterparty guest or Host prior to collecting such amounts from the counterparty. Such

Supplemental Financial Statemen

Supplemental Financial Statement Information	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Statement Information	Supplemental Financial Statement Information Cash, Cash Equivalents, and Restricted Cash The following table reconciles cash, cash equivalents, and restricted cash reported on the Company’s consolidated balance sheets to the total amount presented in the consolidated statements of cash flows (in millions): December 31, 2021 2022 Cash and cash equivalents $ 6,067 $ 7,378 Cash and cash equivalents included in funds receivable and amounts held on behalf of customers 3,645 4,708 Restricted cash included in prepaids and other current assets 15 17 Total cash, cash equivalents, and restricted cash presented in the consolidated statements of cash flows $ 9,727 $ 12,103 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in millions): December 31, 2021 2022 Indirect taxes payable $ 310 $ 418 Compensation and employee benefits 416 380 Indirect tax reserves 183 206 Gift card liability 98 141 Other 552 672 Total accrued expenses and other current liabilities $ 1,559 $ 1,817 Payments to Customers The Company makes payments to customers as part of its incentive programs (composed of referral programs and marketing promotions) and refund activities. The payments are generally in the form of coupon credits to be applied toward future bookings or as cash refunds. The following table summarizes total payments made to customers (in millions): Year Ended December 31, 2020 2021 2022 Reductions to revenue $ 384 $ 156 $ 284 Charges to operations and support 83 69 88 Charges to sales and marketing expense 57 47 60 Total payments made to customers $ 524 $ 272 $ 432

Investments

Investments	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Debt Securities The following tables summarize the amortized cost, gross unrealized gains and losses, and fair value of the Company’s available-for-sale debt securities aggregated by investment category (in millions): December 31, 2021 Classification as of December 31, 2021 Amortized Gross Gross Total Cash and Marketable Other Certificates of deposit $ 395 $ — $ — $ 395 $ 31 $ 364 $ — Government bonds (1) 1 — — 1 — 1 — Commercial paper 1,157 — — 1,157 164 993 — Corporate debt securities 918 — (3) 915 42 863 10 Mortgage-backed and asset-backed securities 34 — — 34 — 34 — Total $ 2,505 $ — $ (3) $ 2,502 $ 237 $ 2,255 $ 10 (1) Includes U.S. government and government agency debt securities December 31, 2022 Classification as of December 31, 2022 Amortized Gross Gross Total Cash and Marketable Other Certificates of deposit $ 599 $ — $ — $ 599 $ 26 $ 573 $ — Government bonds (1) 115 — — 115 32 83 — Commercial paper 901 — — 901 327 574 — Corporate debt securities 1,046 1 (16) 1,031 68 959 4 Mortgage-backed and asset-backed securities 37 — (3) 34 — 34 — Total $ 2,698 $ 1 $ (19) $ 2,680 $ 453 $ 2,223 $ 4 (1) Includes U.S. government and government agency debt securities As of December 31, 2021 and 2022, the Company did not have any available-for-sale debt securities for which the Company has recorded credit related losses. Unrealized gains and losses, net of tax, before reclassifications from accumulated other comprehensive income (loss) to other income (expense), net were not material for the years ended December 31, 2020, 2021, and 2022. Realized gains and losses reclassified from accumulated other comprehensive income (loss) to other income (expense), net were not material for the years ended December 31, 2020, 2021, and 2022. Debt securities in an unrealized loss position had an estimated fair value of $801.5 million and $748.3 million, and unrealized losses of $3.5 million and $19.4 million as of December 31, 2021 and 2022, respectively. An immaterial amount of these securities were in a continuous unrealized loss position for more than twelve months as of December 31, 2021 and $92.3 million of these securities, with unrealized losses of $12.9 million, were in a continuous loss position for more than twelve months as of December 31, 2022. The following table summarizes the contractual maturities of the Company’s available-for-sale debt securities (in millions): December 31, 2022 Amortized Estimated Due within one year $ 2,238 $ 2,236 Due in one year to five years 435 422 Due within five to ten years 22 19 Due beyond ten years 3 3 Total $ 2,698 $ 2,680 Equity Investments Gains and Losses on Marketable Equity Investments Net unrealized gain (loss) on marketable equity investments was $21.7 million for the year ended December 31, 2020 and immaterial for the years ended December 31, 2021 and 2022. During the year ended December 31, 2021, the marketable equity investments were sold and the Company realized a net loss of $13.4 million. The realized and unrealized gains and losses on marketable equity investments were recorded in other income (expense), net on the consolidated statements of operations. Equity Investments Without Readily Determinable Fair Values The Company holds investments in privately-held companies in the form of equity securities without readily determinable fair values and in which the Company does not have a controlling interest or significant influence. These investments had net carrying value of $75.0 million as of both December 31, 2021 and 2022, and are classified within other assets on the consolidated balance sheets. As of December 31, 2021 and 2022 there were no upward or downward adjustments for observable price changes. The Company recorded impairment charges of $53.1 million and $3.1 million, for the years ended December 31, 2020 and 2021, respectively, and did not record any impairment charges during the year ended December 31, 2022. As of December 31, 2021 and 2022, the cumulative downward adjustments for observable price changes and impairment were $56.2 million. Investments Accounted for Under the Equity Method

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements and Financial Instruments	Fair Value Measurements and Financial Instruments The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis (in millions): December 31, 2021 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 1,923 $ — $ — $ 1,923 Certificates of deposit 31 — — 31 Commercial paper — 164 — 164 Corporate debt securities — 42 — 42 1,954 206 — 2,160 Marketable securities: Certificates of deposit 364 — — 364 Government bonds (1) — 1 — 1 Commercial paper — 993 — 993 Corporate debt securities — 863 — 863 Mortgage-backed and asset-backed securities — 34 — 34 364 1,891 — 2,255 Funds receivable and amounts held on behalf of customers: Money market funds 466 — — 466 Prepaids and other current assets: Foreign exchange derivative assets — 26 — 26 Other assets, noncurrent: Corporate debt securities — — 10 10 Total assets at fair value $ 2,784 $ 2,123 $ 10 $ 4,917 Liabilities Accrued expenses and other current liabilities: Foreign exchange derivative liabilities $ — $ 10 $ — $ 10 Total liabilities at fair value $ — $ 10 $ — $ 10 (1) Includes U.S. government and government agency debt securities December 31, 2022 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 2,326 $ — $ — $ 2,326 Certificates of deposit 26 — — 26 Government bonds (1) — 32 — 32 Commercial paper — 327 — 327 Corporate debt securities — 68 — 68 2,352 427 — 2,779 Marketable securities: Certificates of deposit 573 — — 573 Government bonds (1) — 83 — 83 Commercial paper — 574 — 574 Corporate debt securities — 959 — 959 Mortgage-backed and asset-backed securities — 34 — 34 Marketable equity securities 1 — — 1 574 1,650 — 2,224 Funds receivable and amounts held on behalf of customers: Money market funds 501 — — 501 Prepaids and other current assets: Foreign exchange derivative assets — 14 — 14 Other assets, noncurrent: Corporate debt securities — — 4 4 Total assets at fair value $ 3,427 $ 2,091 $ 4 $ 5,522 Liabilities Accrued expenses and other current liabilities: Foreign exchange derivative liabilities $ — $ 31 $ — $ 31 Total liabilities at fair value $ — $ 31 $ — $ 31 (1) Includes U.S. government and government agency debt securities The following table presents additional information about investments that are measured at fair value for which the Company has utilized Level 3 inputs to determine fair value (in millions): December 31, 2021 2022 Derivative Other Other Balance, beginning of year $ 985 $ 11 $ 10 Reclassifications to equity (1,277) — — Total realized and unrealized gains (losses): Included in earnings 292 — — Included in other comprehensive income (loss) — (1) (6) Balance, end of year $ — $ 10 $ 4 Changes in unrealized gains or losses included in other comprehensive income (loss) related to investments held at the reporting date $ — $ (1) $ (6) There were no transfers of financial instruments between valuation levels during the years ended December 31, 2021 and 2022. The Company amended the anti-dilution feature in the warrant agreements associated with the Second Lien Credit Agreement, as defined in Note 9, Debt, which resulted in a change in classification from liability to equity, on March 30, 2021 (the “Modification Date”). The Company recorded a marked-to-market loss of $292.0 million through the first quarter of 2021, which was recorded in other income (expense), net on the consolidated statements of operations. Subsequent to the Modification Date, the warrants were no longer subject to marked-to-market charges. The balance of $1.3 billion was then reclassified from liability to equity as the amended warrants met the requirements for equity classification. Refer to Note 9, Debt , for additional information. Derivatives Not Designated as Hedging Instruments As of December 31, 2021, the fair value of foreign exchange derivative assets and liabilities totaled $25.9 million and $10.3 million, respectively, with the aggregate notional amount totaling $2.4 billion. As of December 31, 2022, the fair value of foreign exchange derivative assets and liabilities totaled $14.0 million and $31.2 million, respectively, with the aggregate notional amount totaling $2.4 billion. Derivative assets are included in prepaids and other current assets and derivative liabilities are included in accrued expenses and other current liabilities in the consolidated balance sheets. The Company recorded total net realized gains (losses) of $(21.7) million, $19.3 million, and $92.0 million, and net unrealized gains (losses) of $(24.6) million, $35.4 million and $(32.9) million for the years ended December 31, 2020, 2021, and 2022, respectively, related to foreign exchange derivative assets and liabilities. The realized and unrealized gains and losses on non-designated derivatives are reported in other income (expense), net in the consolidated statements of operations. The cash flows related to derivative instruments not designated as hedging instruments are classified within operating activities in the consolidated statements of cash flows. The Company has master netting arrangements with the respective counterparties to its derivative contracts, which are designed to reduce credit risk by permitting net settlement of transactions with the same counterparty. The Company presents its derivative assets and derivative liabilities at their gross fair values in its consolidated balance sheets. As of December 31, 2021, the potential effect of these rights of set-off associated with the Company’s derivative contracts would be a reduction to both assets and liabilities of $10.3 million, resulting in net derivative assets of $15.6 million. As of December 31, 2022, the potential effect of these rights of set-off associated with the Company’s derivative contracts would be a reduction to both assets and liabilities of $10.7 million, resulting in net derivative assets of $3.2 million and net derivative liabilities of $20.5 million.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets Identifiable intangible assets consisted of the following (in millions): December 31, 2021 December 31, 2022 Gross Carrying Amount (1) Accumulated Amortization (1) Net Gross Carrying Amount (1) Accumulated Amortization (1) Net Listing relationships $ 43 $ (16) $ 27 $ 35 $ (13) $ 22 Trade names 33 (18) 15 33 (25) 8 Developed technology 23 (21) 2 — — — Customer contacts 4 (4) — — — — Other 10 (2) 8 9 (5) 4 Total intangible assets $ 113 $ (61) $ 52 $ 77 $ (43) $ 34 (1) Excludes write off of intangible assets that have been fully amortized. Amortization expense related to intangible assets for the years ended December 31, 2020, 2021, and 2022 was $36.2 million, $23.7 million, and $19.1 million, respectively. Estimated future amortization expense for intangible assets as of December 31, 2022 was as follows (in millions): Year Ending December 31, Amount 2023 $ 11 2024 6 2025 5 2026 4 2027 4 Thereafter 4 Total future amortization expense $ 34 Goodwill The changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2022 were as follows (in millions): Amount Balance as of December 31, 2020 $ 656 Foreign currency translation adjustments (3) Balance as of December 31, 2021 653 Foreign currency translation adjustments (3) Balance as of December 31, 2022 $ 650

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net, consisted of the following (in millions): December 31, 2021 2022 Computer software and capitalized internal-use software $ 175 $ 164 Leasehold improvements 214 152 Computer equipment 57 32 Office furniture and equipment 43 23 Buildings and land 17 17 Construction in progress 30 45 Total 536 433 Less: Accumulated depreciation and amortization (379) (312) Total property and equipment, net $ 157 $ 121 Depreciation expense related to property and equipment for the years ended December 31, 2020, 2021, and 2022 was $67.2 million, $85.6 million, and $42.6 million, respectively. During the years ended December 31, 2020, 2021, and 2022, amortization of capitalized internal-use software costs was $22.5 million, $66.3 million, and $27.6 million, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases The Company’s material operating leases consist of office space and data center space. The Company’s leases generally have remaining terms of one ublease income was immaterial for the years ended December 31, 2020, 2021, and 2022. The components of lease cost were as follows (in millions): Year Ended December 31, 2020 2021 2022 Operating lease cost (1) $ 91 $ 83 $ 77 Short-term lease cost (1) 1 3 2 Variable lease cost (1) 12 14 17 Lease cost, net (2) $ 104 $ 100 $ 96 (1) Classified within operations and support, product development, sales and marketing, and general and administrative expenses in the consolidated statements of operations. (2) Lease costs do not include lease impairments due to restructuring. Refer to Note 17, Restructuring , for additional information. Supplemental disclosures of cash flow information related to operating lease liabilities were as follows (in millions): Year Ended December 31, 2020 2021 2022 Cash paid for operating leases $ 63 $ 92 $ 102 Net impact of non-cash changes to right-of-use assets related to modifications and reassessments of operating leases 103 18 (5) Lease term and discount rate were as follows: December 31, 2021 2022 Weighted-average remaining lease term (years) 7.2 6.0 Weighted-average discount rate 6.8 % 7.0 % Maturities of lease liabilities (excluding short-term leases) were as follows as of December 31, 2022 (in millions): Year Ending December 31, Amount 2023 $ 81 2024 53 2025 87 2026 79 2027 31 Thereafter 128 Total lease payments 459 Less: Imputed interest (105) Present value of lease liabilities 354 Less: Current portion of lease liabilities (59) Total long-term lease liabilities $ 295

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes the Company’s outstanding debt (in millions, except percentages)): As of Effective Interest Rate As of Effective Interest Rate Convertible senior notes due March 2026 $ 2,000 0.2 % $ 2,000 0.2 % Less: Unamortized debt discount and debt issuance costs (17) (13) Total long-term debt $ 1,983 $ 1,987 Convertible Senior Notes On March 8, 2021, the Company issued $2.0 billion aggregate principal amount of 0% convertible senior notes due 2026 (the "2026 Notes") pursuant to an indenture, dated March 8, 2021 (the "Indenture"), between the Company and U.S. Bank National Association, as trustee. The 2026 Notes were offered and sold in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The 2026 Notes are senior unsecured obligations of the Company and will not bear regular interest. The 2026 Notes mature on March 15, 2026, unless earlier converted, redeemed, or repurchased. The proceeds, net of debt issuance costs, were $1,979.2 million. The initial conversion rate for the 2026 Notes is 3.4645 shares of the Company's Class A common stock per $1,000 principal amount of 2026 Notes, which is equivalent to an initial conversion price of approximately $288.64 per share of the Class A common stock. The conversion rate and conversion price are subject to customary adjustments under certain circumstances in accordance with the terms of the Indenture. The 2026 Notes will be convertible at the option of the holders before December 15, 2025 only upon the occurrence of certain events, and from and after December 15, 2025, at any time at their election until the close of business on the second scheduled trading day immediately preceding March 15, 2026, only under certain circumstances. Upon conversion, the Company may satisfy its conversion obligation by paying or delivering, as applicable, cash, shares of the Company’s Class A common stock, or a combination of cash and shares of the Company’s Class A common stock, at the Company’s election, based on the applicable conversion rate. In addition, if certain corporate events that constitute a make-whole fundamental change (as defined in the Indenture) occur, then the conversion rate will, in certain circumstances, be increased for a specified period of time. Additionally, in the event of a corporate event constituting a fundamental change (as defined in the Indenture), holders of the 2026 Notes may require the Company to repurchase all or a portion of their 2026 Notes at a repurchase price equal to 100% of the principal amount of the Notes being repurchased, plus accrued and unpaid special interest or additional interest, if any, to, but excluding, the date of the fundamental change repurchase. Debt issuance costs related to the 2026 Notes totaled $20.8 million and were comprised of commissions payable to the initial purchasers and third-party offering costs and are amortized to interest expense using the effective interest method over the contractual term. For the years ended December 31, 2021 and 2022, interest expense was $3.4 million and $4.2 million, respectively. As of December 31, 2022, the if-converted value of the 2026 Notes did not exceed the outstanding principal amount. As of December 31, 2022 the total estimated fair value of the 2026 Notes was $1.7 billion and was determined based on a market approach using actual bids and offers of the 2026 Notes in an over-the-counter market on the last trading day of the period, or Level 2 inputs. Capped Calls On March 3, 2021, in connection with the pricing of the 2026 Notes, the Company entered into privately negotiated capped call transactions (the “Capped Calls”) with certain of the initial purchasers and other financial institutions (the "option counterparties") at a cost of $100.2 million. The Capped Calls cover, subject to customary adjustments, the number of shares of Class A common stock initially underlying the 2026 Notes. By entering into the Capped Calls, the Company expects to reduce the potential dilution to its Class A common stock (or, in the event a conversion of the 2026 Notes is settled in cash, to reduce its cash payment obligation) in the event that at the time of conversion of the 2026 Notes its common stock price exceeds the conversion price of the 2026 Notes. The cap price of the Capped Calls was $360.80 per share of Class A common stock, which represented a premium of 100% over the last reported sale price of the Class A common stock of $180.40 per share on March 3, 2021, subject to certain customary adjustments under the terms of the Capped Calls. The Capped Calls meet the criteria for classification in equity, are not remeasured each reporting period, and are included as a reduction to additional paid-in-capital within stockholders’ equity. Term Loans In April 2020, the Company entered into a $1.0 billion First Lien Credit and Guaranty Agreement (the “First Lien Credit Agreement,” and the loans thereunder, the “First Lien Loan”), resulting in proceeds of $961.4 million, net of debt discount and debt issuance costs of $38.6 million. The loan was due and payable in April 2025 and could be repaid in whole or in part at the Company’s option, subject to applicable prepayment premiums and make-whole premiums. Beginning in September 2020, the Company was required to repay the First Lien Loan in quarterly installments equal to 0.25% of the $1.0 billion aggregate principal amount of the First Lien Loan, with the remaining principal amount payable on the maturity date. Also in April 2020, the Company entered into a $1.0 billion Second Lien Credit and Guaranty Agreement (the “Second Lien Credit Agreement,” and the loans thereunder, the “Second Lien Loan”), resulting in net proceeds of $967.5 million, net of debt discount and debt issuance costs of $32.5 million. The loan was due and payable in July 2025 and could be repaid in whole or in part, subject to applicable prepayment premiums, make-whole premiums, and the priority of lenders under the First Lien Credit Agreement over any proceeds the Company receives from the sale of collateral. In March 2021, the Company repaid the principal amount outstanding of $1,995.0 million under the First Lien Loan and Second Lien Loan, which resulted in a loss of extinguishment of debt of $377.2 million, including early redemption premiums of $212.9 million and a write-off of $164.3 million of unamortized debt discount and debt issuance costs. The loss on extinguishment of debt was included in interest expense in the consolidated statements of operations. Additionally, the Company incurred third-party costs, principally legal and administrative fees, of $0.1 million relating to the extinguishment of the loans. The debt discount and debt issuance costs were amortized to interest expense using the effective interest rate method. For the year ended December 31, 2021, interest expense of $41.3 million was recorded for the First Lien and Second Lien Loans relating to the contractual interest and amortization of the debt discount and debt issuance costs. The First Lien Loan and the Second Lien Loan were unconditionally guaranteed by certain of the Company’s domestic subsidiaries and were both secured by substantially all the assets of the Company and subsidiary guarantors. In connection with the Second Lien Loan, the Company issued warrants to purchase 7,934,794 shares of Class A common stock with an initial exercise price of $28.355 per share, subject to adjustment upon the occurrence of certain specified events, to the Second Lien Loan lenders. The warrants expire on April 17, 2030 and the exercise price can be paid in cash or in net shares at the holder’s option. The fair value of the warrants at issuance was $116.6 million and was recorded as a liability in accrued expenses and other current liabilities on the consolidated balance sheet with a corresponding debt discount recorded against the Second Lien Loan. The warrant liability was remeasured to fair value at each reporting date for as long as the warrants remained outstanding and unexercised with changes in fair value recorded in other income (expense), net in the consolidated statements of operations. As of December 31, 2020, the fair value of the warrant totaled $985.2 million. On March 30, 2021, the Company amended the anti-dilution feature in the warrant agreements, which resulted in a change in classification from liability to equity. Accordingly, the Company recorded $292.0 million in other expense during the first quarter of 2021. The liability balance of $1.3 billion was then reclassified to equity as the amended warrants met the requirements for equity classification. 2020 Credit Facility In November 2020, the Company entered into a five-year secured revolving Credit and Guarantee Agreement, which provided for initial commitments from a group of lenders led by Morgan Stanley Senior Funding, Inc. of $500.0 million (“2020 Credit Facility”). The 2020 Credit Facility provided a $200.0 million sub-limit for the issuance of letters of credit and had a commitment fee of 0.15% per annum on any undrawn amounts, payable quarterly in arrears. Outstanding letters of credit totaled $15.9 million as of December 31, 2021. Remaining letters of credit under the 2020 Credit Facility were transferred to new issuers upon the termination of the 2020 Credit Facility. 2022 Credit Facilit y On October 31, 2022, the Company terminated the 2020 Credit Facility and entered into a five-year unsecured Revolving Credit Agreement, which provides for initial commitments by a group of lenders led by Morgan Stanley Senior Funding, Inc. of $1.0 billion (“2022 Credit Facility”). The 2022 Credit Facility provides a $200.0 million sub-limit for the issuance of letters of credit. The 2022 Credit Facility has a commitment fee based on ratings and leverage ratios with amounts that range from 0.10% to 0.20% per annum on any undrawn amounts, payable quarterly in arrears. Interest on borrowings is based on ratings and leverage ratios with amounts that range from (i) in the case of the Secured Overnight Financing Rate (“SOFR”) borrowings, 1.0% to 1.5%, plus SOFR, subject to a floor of 0.0%, or (ii) in the case of base rate

Stockholders_ Equity

Stockholders’ Equity	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stockholders’ Equity	Stockholders’ Equity Common Stock The Company’s restated certificate of incorporation authorizes the Company to issue 2.0 billion shares of Class A common stock and 710.0 million shares of Class B common stock. Both classes of common stock have a par value of $0.0001 per share. Class A common stock is entitled to one vote per share and Class B common stock is entitled to 20 votes per share. A share of Class B common stock is convertible into a share of Class A common stock voluntarily at any time by the holder, and will convert automatically into a share of Class A common stock upon the earlier of (a) the date and time, or the occurrence of an event, specified by vote or written consent of the holders of at least 80% of the outstanding shares of Class B common stock at the time of such vote or consent, voting as a separate series, and (b) the 20-year anniversary of the closing of the IPO. In addition, with certain exceptions as further described in the Company's restated certificate of incorporation, transfers of Class B common stock will result in the conversion of such share of Class B common stock into a share of Class A common stock. Under the Company’s restated certificate of incorporation, the Company is also authorized to issue 2.0 billion shares of Class C common stock and 26.0 million shares of Class H common stock. Each share of Class C common stock is entitled to no votes and will not be convertible into any other shares of the Company’s capital stock. Each share of Class H common stock is entitled to no votes and will convert into a share of Class A common stock on a share-for-share basis upon the sale of such share of Class H common stock to any person or entity that is not the Company’s subsidiary. Class A Common Stock Warrants As described above in Note 9, Debt , in connection with the Second Lien Loan entered into in April 2020, the Company issued warrants to purchase 7,934,794 shares of Class A common stock with an initial exercise price of $28.355 per share, subject to adjustment upon the occurrence of certain specified events, to the Second Lien Loan lenders. Share Repurchase On August 2, 2022, the Company announced its board of directors approved a share repurchase program with authorization to purchase up to $2.0 billion of the Company's Class A common stock at management’s discretion (the “Share Repurchase Program”). The Share Repurchase Program does not have an expiration date, does not obligate the Company to repurchase any specific number of shares, and may be modified, suspended, or terminated at any time at the Company’s discretion. During the year ended December 31, 2022, the Company repurchased and subsequently retired 13.8 million shares of common stock for $1.5 billion. As of December 31, 2022, the Company had $500.0 million available to repurchase shares pursuant to the Share Repurchase Program.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-Based Compensation Expense The following table summarizes total stock-based compensation expense (in millions): Year Ended December 31, 2020 2021 2022 Operations and support $ 144 $ 49 $ 63 Product development 1,880 545 548 Sales and marketing 435 100 114 General and administrative 544 205 205 Stock-based compensation expense $ 3,003 $ 899 $ 930 Prior to December 9, 2020, no stock-based compensation expense had been recognized for certain awards with a liquidity-event performance-based vesting condition based on the occurrence of a qualifying event, as such qualifying event was not probable. Upon the Company's initial public offering, the liquidity event performance-based condition was met and $2.8 billion of stock-based compensation expense was recognized related to these awards. The Company recognized an income tax benefit of $39.9 million, $35.6 million, and $19.0 million in the consolidated statements of operations for stock-based compensation arrangements in the years ended December 31, 2020, 2021, and 2022, respectively. Equity Incentive Plans 2018 Equity Incentive Plan In 2018, the Company adopted the 2018 Equity Incentive Plan (the “2018 Plan”) to replace the 2008 Equity Incentive Plan (the “2008 Plan”). A total of 50.0 million shares of Class B common stock were reserved for issuance under the 2018 Plan and the 13.2 million shares remaining for issuance under the 2008 Plan were added to the number of shares available under the 2018 Plan. The expiration of the 2008 Plan had no impact on the terms of outstanding awards under that plan. All unvested equity canceled under the 2008 Plan were added to the 2018 Plan and made available for future issuance. Assumed Equity Incentive Plan In connection with the acquisition of HotelTonight in 2021, the Company assumed stock options and RSUs under HotelTonight’s equity incentive plan (the “Assumed Equity Incentive Plan”). As of December 31, 2021, a total of 98,093 shares of the Company’s Class A common stock were issuable upon exercise of outstanding options under the Assumed Equity Incentive Plan, with weighted-average exercise price of $22.67 per share. In addition, as of December 31, 2021, a total of 3,512 RSUs were issued and outstanding under the Assumed Equity Incentive Plan. No additional stock options or RSUs may be granted under the Assumed Equity Incentive Plan. 2020 Incentive Award Plan In 2020, the Company adopted the 2020 Incentive Award Plan (the “2020 Plan,” and together with the 2008 Plan, 2018 Plan, and the Assumed Equity Incentive Plan, the “Plans”). Under the 2020 Plan, 62,069,613 shares of Class A common stock were initially reserved for issuance. The number of shares initially reserved for issuance pursuant to awards under the 2020 Plan will be increased by (i) the number of shares subject to awards outstanding under the 2008 Plan, Assumed Equity Incentive Plan, and 2018 Plan as of the effective date of the 2020 Plan that subsequently terminate, are exchanged for cash, surrendered or repurchased, or are tendered or withheld to satisfy any exercise price or tax withholding obligations and (ii) an annual increase on the first day of each year beginning in 2022 and ending in 2030, equal to the lesser of (A) 5% of the shares of all series of the Company’s common stock outstanding on the last day of the immediately preceding year and (B) such smaller number of shares of stock as determined by the Company’s board of directors; provided, however, that no more than 371,212,920 shares of stock may be issued upon the exercise of incentive stock options. Stock Option and Restricted Stock Unit Activity The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option-pricing model using the range of assumptions in the following table: Year Ended December 31, 2020 2021 2022 Expected term (years) 5.1 - 8.0 8.0 6.1 Risk-free interest rate 0.5% - 1.5% 1.1% - 1.5% 0.3% - 2.2% Expected volatility 39.1% - 43.6% 44.2% - 44.9% 48.6% - 58.4% Expected dividend yield — — — A summary of stock option and RSU activity under the Plans was as follows (in millions, except per share amounts): Outstanding Stock Options Outstanding Restricted Stock Units Shares Number of Weighted- Number of Weighted- Balances as of December 31, 2020 86 41 $ 12.48 48 $ 40.01 Granted (1) (10) 1 191.08 9 181.15 Shares withheld for taxes 1 — — (1) 66.99 Exercised/Vested — (18) 7.77 (15) 57.05 Canceled 4 — 56.69 (4) 64.32 Balances as of December 31, 2021 81 24 19.69 37 61.22 Granted (13) 1 161.70 12 135.09 Increase in shares available for grant 32 — — — — Shares withheld for taxes 5 — — (5) 80.98 Exercised/Vested — (3) 14.32 (7) 83.12 Canceled 3 — 95.93 (3) 101.58 Balances as of December 31, 2022 108 22 $ 23.41 34 $ 77.07 (1) There were no options or RSUs that were granted from the Assumed Equity Incentive Plan for the year ended December 31, 2021. Number of Weighted- Weighted- Aggregate Options outstanding as of December 31, 2021 24 $ 19.69 3.66 $ 3,555 Options exercisable as of December 31, 2021 21 13.28 2.90 3,207 Options outstanding as of December 31, 2022 22 23.41 2.78 1,432 Options exercisable as of December 31, 2022 20 17.01 2.27 1,380 During the years ended December 31, 2020, 2021, and 2022, the weighted-average fair value of stock options granted under the Plans was $15.42, $96.50, and $79.75 per share, respectively. During the years ended December 31, 2020, 2021, and 2022, the aggregate intrinsic value of stock options exercised was $476.0 million, $2,824.9 million, and $326.0 million, respectively, and the total grant-date fair value of stock options that vested was $44.4 million, $45.9 million, and $45.0 million, respectively. As of December 31, 2022, there was $78.0 million, of total unrecognized compensation cost related to stock option awards granted under the Plans. The unrecognized cost as of December 31, 2022 is expected to be recognized over a weighted-average period of 2.58 years. Restricted Stock Awards The Company has granted RSAs to certain continuing employees, primarily in connection with acquisitions. Vesting of this stock is primarily dependent on a service-based vesting condition that generally becomes satisfied over a period of four years. The Company has the right to repurchase or cancel shares for which the vesting condition is not satisfied. Unvested RSAs as of December 31, 2020, 2021, and 2022 was 0.7 million, 0.6 million, and 0.4 million shares, respectively, with weighted-average grant-date fair value of $62.33, $62.32, and $62.33 per share, respectively. Activities related to the Company’s RSAs were not material for the years ended December 31, 2020, 2021, and 2022. Restricted Stock Units RSUs are measured at the fair market value of the underlying stock at the grant date and the expense is recognized over the requisite service period. The service-based vesting condition for these awards is generally satisfied over four years. 2020 Employee Stock Purchase Plan In December 2020, the Company’s board of directors adopted the ESPP. The maximum number of shares of Class A common stock authorized for sale under the ESPP is equal to the sum of (i) 4.0 million shares of Class A common stock and (ii) an annual increase on the first day of each year beginning in 2022 and ending in 2030, equal to the lesser of (a) 1% of shares of Class A common stock (on an as converted basis) on the last day immediately preceding year and (b) such number of shares of common stock as determined by the board of directors; provided, however, that no more than 89.8 million shares may be issued under the ESPP. As of December 31, 2021 and 2022, the Company had reserved 3.0 million and 8.9 million shares for future issuance under the ESPP. The Company estimates the fair value of shares to be issued under the ESPP based on a combination of options valued using the Black-Scholes option-pricing model. The Company recorded stock-based compensation expense related to the ESPP of $105.9 million and $32.6 million for the years ended December 31, 2021, and 2022, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company has commitments including purchase obligations for web-hosting services and other commitments for brand marketing. The following table presents these non-cancelable commitments and obligations as of December 31, 2022 (in millions): Total Less than 1 to 3 years 3 to 5 years More than Purchase obligations $ 1,068 $ 137 $ 517 $ 414 $ — Other commitments 232 37 76 79 40 Total $ 1,300 $ 174 $ 593 $ 493 $ 40 Purchase commitments include amounts related to the Company’s commercial agreement with a data hosting services provider, pursuant to which the Company committed to spend an aggregate of at least $941.7 million for vendor services through 2027. Extenuating Circumstances Policy In March 2020, the Company applied its extenuating circumstances policy to cancellations resulting from COVID-19. That policy provides customers with greater flexibility to cancel reservations that are disrupted by epidemics, natural disasters, and other emergencies. Specifically, accommodation bookings made by guests on or before March 14, 2020 have so far been covered by the policy and may be canceled before check-in. To support Hosts impacted by elevated guest cancellations under that policy, the Company committed up to $250 million for Hosts, and had a remaining reserve balance of $33.9 million as of December 31, 2022. The reservations eligible for this $250 million Host program were defined as reservations made on or before March 14, 2020 with a check-in date between March 14, 2020 and May 31, 2020. For these reservations, eligible Hosts are entitled to receive 25% of the amount they would have received from guests under the Host’s cancellation policies. These payments are accounted for as consideration paid to a customer and as such, primarily result in a reduction to revenue. Under this policy, the Company recorded payments, primarily to Hosts, excluding Superhosts, of $205.1 million, $5.6 million and $2.9 million for the years ended December 31, 2020, 2021, and 2022, respectively, in its consolidated statement of operations. Lodging Tax Obligations and Other Non-Income Tax Matters Some states and localities in the United States and elsewhere in the world impose transient occupancy or lodging accommodations taxes (“Lodging Taxes”) on the use or occupancy of lodging accommodations or other traveler services. As of December 31, 2022, the Company collects and remits Lodging Taxes in approximately 32,000 jurisdictions on behalf of its Hosts. Such Lodging Taxes are generally remitted to tax jurisdictions within a 30 to 90-day period following the end of each month. Income Taxes, for further discussion on other tax matters. Legal and Regulatory Matters Regulatory Matters Intellectual Property The Company has been and is currently subject to claims relating to intellectual property, including alleged patent infringement. Adverse results in such lawsuits may include awards of substantial monetary damages, costly royalty or licensing agreements, or orders preventing the Company from offering certain features, functionalities, products, or services, and may also cause the Company to change its business practices or require development of non-infringing products or technologies, which could result in a loss of revenue or otherwise harm its business. To date, the Company has not incurred any material costs as a result of such cases and has not recorded any material liabilities in its consolidated financial statements related to such matters. Litigation and Other Legal Proceedings The Company is currently involved in, and may in the future be involved in, legal proceedings, claims, and government investigations in the ordinary course of business. These include proceedings, claims, and investigations relating to, among other things, regulatory matters, commercial matters, intellectual property, competition, tax, employment, pricing, discrimination, consumer rights, personal injury, and property rights. The Australian Competition and Consumer Commission (“ACCC”) commenced proceedings against Airbnb, Inc. and Airbnb Ireland UC alleging that Airbnb has breached the Australian Consumer Law by making false and misleading representations, because certain users were shown prices and charged in U.S. dollars versus Australian dollars. The Company disputes the allegations of the ACCC. Depending on the nature of the proceeding, claim, or investigation, the Company may be subject to monetary damage awards, fines, penalties, and/or injunctive orders. Furthermore, the outcome of these matters could materially adversely affect the Company’s business, results of operations, and financial condition. The outcomes of legal proceedings, claims, and government investigations are inherently unpredictable and subject to significant judgment to determine the likelihood and amount of loss related to such matters. While it is not possible to determine the outcomes, the Company believes based on its current knowledge that the resolution of all such pending matters will not, either individually or in the aggregate, have a material adverse effect on the Company’s business, results of operations, financial condition, or cash flows. Host Protections The Company offers AirCover coverage, which includes but is not limited to, the Company’s Host Damage Protection program that provides protection of up to $3.0 million for direct physical loss or damage to a Host’s covered property caused by guests during a confirmed booking and when the Host and guest are unable to resolve the dispute. The Company retains risk and also maintains insurance from third parties on a per claim basis to protect the Company’s financial exposure under this program. In addition, through third-party insurers and self-insurance mechanisms, including a wholly-owned captive insurance subsidiary created during the year ended December 31, 2019, the Company provides insurance coverage for third-party bodily injury or property damage liability claims that occur during a stay. The Company’s Host Liability Insurance and Experiences Liability Insurance consists of a commercial general liability policy, with Hosts and the Company as named insureds and landlords of Hosts as additional insureds. The Host Liability Insurance and Experiences Liability Insurance provides primary coverage for up to $1.0 million per occurrence, subject to a $1.0 million cap per listing location, and includes various market standard conditions, limitations, and exclusions. Indemnifications The Company has entered into indemnification agreements with certain of its employees, officers and directors. The indemnification agreements and the Company’s Amended and Restated Bylaws (the “Bylaws”) require the Company to indemnify its directors and officers and those employees who have entered into indemnification agreements to the fullest extent not prohibited by Delaware law. Subject to certain limitations, the indemnification agreements and Bylaws also require the Company to advance expenses incurred by its directors and officers and those employees who have entered into indemnification agreements. No demands have been made upon the Company to provide indemnification or advancement under the indemnification agreements or the Bylaws, and thus, there are no indemnification or advancement claims that the Company is aware of that could have a material adverse effect on the Company’s business, results of operations, financial condition, or cash flows.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The domestic and foreign components of income (loss) before income taxes were as follows (in millions): Year Ended December 31, 2020 2021 2022 Domestic $ (4,510) $ (390) $ 1,820 Foreign (172) 90 169 Income (loss) before income taxes $ (4,682) $ (300) $ 1,989 The components of the provision for (benefit from) income taxes were as follows (in millions): Year Ended December 31, 2020 2021 2022 Current Federal $ (91) $ 5 $ 19 State (1) 2 10 Foreign 15 34 68 Total current provision for (benefit from) income taxes (77) 41 97 Deferred Federal — — — State — — — Foreign (20) 11 (1) Total deferred provision for (benefit from) income taxes (20) 11 (1) Total provision for (benefit from) income taxes $ (97) $ 52 $ 96 The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate: Year Ended December 31, 2020 2021 2022 Expected income tax expense at federal statutory rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefits — (0.7) 0.4 Foreign tax rate differential (0.5) (5.1) 1.0 Stock-based compensation 7.1 282.4 (6.9) Deferred tax impacts of restructuring 6.5 (9.7) — Other statutorily non-deductible expenses (0.3) (1.1) 0.3 Non-deductible warrant revaluations (3.9) (20.4) (0.1) Research and development credits 4.3 51.0 (4.7) Uncertain tax positions—prior year positions (0.1) (3.1) 0.1 Uncertain tax positions—current year positions (0.2) (1.0) 0.8 US tax on foreign income, net of allowable credits and deductions — — 0.7 Foreign-derived intangible income deduction — — (1.9) Other 0.3 1.3 0.1 Change in valuation allowance (32.1) (331.9) (6.0) Effective tax rate 2.1 % (17.3) % 4.8 % For the year ended December 31, 2020, the difference in the Company’s effective tax rate and the U.S. federal statutory tax rate was primarily due to the Company’s tax impact of restructuring and the IPO, and the Company’s full valuation allowance on its U.S. deferred tax assets. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted by the United States on March 27, 2020. The CARES Act contains certain tax provisions, including provisions that retroactively and/or temporarily suspend or relax in certain respects the application of certain provisions in the Act, such as the limitations on the deduction of net operating losses and interest. For the year ended December 31, 2020, the Company recorded a benefit of $95.6 million related to the carryback of its 2020 net operating loss. For the year ended December 31, 2021, the difference in the Company’s effective tax rate and the U.S. federal statutory tax rate was primarily due to the jurisdictional mix of earnings, excess tax benefits related to stock-based compensation, and the Company’s full valuation allowance on its U.S. deferred tax assets. For the year ended December 31, 2022, the difference in the Company’s effective tax rate and the U.S. federal statutory tax rate was primarily due to excess tax benefits related to stock-based compensation, research and development credits, and the Company’s full valuation allowance on its U.S. deferred tax assets. The components of deferred tax assets and liabilities consisted of the following (in millions): December 31, 2021 2022 Deferred tax assets: Net operating loss carryforwards $ 1,988 $ 1,539 Tax credit carryforwards 568 664 Accruals and reserves 106 123 Non-income tax accruals 65 68 Stock-based compensation 157 111 Operating lease liabilities 87 73 Intangible assets 210 188 Capitalized research and development costs — 413 Other 155 37 Gross deferred tax assets 3,336 3,216 Valuation allowance (3,264) (3,166) Total deferred tax assets 72 50 Deferred tax liabilities: Property and equipment basis differences (8) (9) Operating lease assets (49) (23) Other — (2) Total deferred tax liabilities (57) (34) Total net deferred tax assets $ 15 $ 16 For the year ended December 31, 2021, the increase in the Company’s valuation allowance compared to the prior year was primarily due to the 2021 net operating loss, an increase in tax credits generated, and business interest expenses subject to limitation. For the year ended December 31, 2022, the decrease in the Company’s valuation allowance compared to the prior year was primarily due to the utilization of net operating losses, business interest deductions subject to limitation in prior years, and stock-based compensation deductions, partially offset by capitalized research and development costs under Section 174. In determining the need for a valuation allowance, the Company weighs both positive and negative evidence in the various jurisdictions in which it operates to determine whether it is more likely than not that its deferred tax assets are recoverable. The Company regularly assesses all available evidence, including cumulative historic losses and forecasted earnings. Due to cumulative losses in the U.S. during the prior three years, including tax deductible stock compensation, and based on all available positive and negative evidence, the Company does not believe it is more likely than not that its U.S. deferred tax assets will be realized as of December 31, 2022. Accordingly, a full valuation allowance has been established in the United States, and no deferred tax assets and related tax benefit have been recognized in the financial statements. However, given the Company’s current earnings and anticipated future earnings, the Company believes that there is a reasonable possibility that sufficient positive evidence may become available in a future period to allow the Company to reach a conclusion that the U.S. valuation allowance will no longer be needed. Release of the valuation allowance would result in the recognition of material U.S. federal and state deferred tax assets and a corresponding decrease to income tax expense in the period the release is recorded. The exact timing and amount of the valuation allowance release are subject to change on the basis of the level of sustained U.S. profitability that the Company is able to actually achieve, as well as the amount of tax deductible stock compensation dependent upon the Company’s publicly traded share price, foreign currency movements, and macroeconomic conditions, among other factors. There is no valuation allowance in certain foreign jurisdictions in which it is more likely than not that deferred tax assets will be realized. The Company’s policy with respect to its undistributed foreign subsidiaries’ earnings is to consider those earnings to be indefinitely reinvested. The Company has not provided for the tax effect, if any, of limited outside basis differences of its foreign subsidiaries. The determination of the future tax consequences of the remittance of these earnings is not practicable. As of December 31, 2021 and 2022, the Company had net operating loss carryforwards for federal income tax purposes of $8.8 billion and $6.8 billion, respectively. Certain of the Company’s federal net operating loss carryforwards will expire, if not utilized, beginning in 2031. As of December 31, 2021 and 2022, the Company had federal research and development tax credit carryforwards of $491.2 million and $578.5 million, respectively. The research and development tax credits will expire beginning in 2038 if not utilized. As of December 31, 2021 and 2022, the Company had net operating loss carryforwards for state income tax purposes of $5.5 billion and $4.8 billion, respectively. Certain of the Company’s state net operating loss carryforwards will expire, if not utilized, beginning in 2025. As of December 31, 2021 and 2022, the Company had state research and development carryforwards and enterprise zone tax credit carryforwards of $338.1 million and $402.1 million, respectively. The research and development tax credits do not expire, and the enterprise zone tax credits will expire, if not utilized, beginning in 2023. The Tax Reform Act of 1986 and similar California legislation impose substantial restrictions on the utilization of net operating losses and tax credit carryforwards in the event that there is a change in ownership as provided by Section 382 of the Internal Revenue Code and similar state provisions. Such a limitation could result in the expiration of the net operating loss carryforwards and tax credits before utilization, which could result in increased future tax liabilities. A reconciliation of the beginning and ending amount of the Company’s total gross unrecognized tax benefits was as follows (in millions): Year Ended December 31, 2020 2021 2022 Balance at beginning of year $ 337 $ 508 $ 597 Gross increases related to prior year tax positions 2 14 7 Gross decreases related to prior year tax positions (6) (2) (2) Gross increases related to current year tax positions 196 85 60 Reductions due to settlements with taxing authorities (21) (1) (7) Reduction due to lapse in statute of limitations — (7) (5) Balance at end of year $ 508 $ 597 $ 650 The Company is in various stages of examination in connection with its ongoing tax audits globally, and it is difficult to determine when these examinations will be settled. The Company believes that an adequate provision has been recorded for any adjustments that may result from tax audits. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company’s tax audits are resolved in a manner not consistent with management’s expectations, the Company may be required to record an adjustment to the provision for (benefit from) income taxes in the period such resolution occurs. Changes in tax laws, regulations, administrative practices, principles, and interpretations may impact the Company’s tax contingencies. The timing of the resolution of income tax examinations is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ from the amounts accrued. It is reasonably possible that within the next twelve months the Company may experience an increase or decrease in its unrecognized tax benefits as a result of additional assessments by various tax authorities, possibly reach resolution of income tax examinations in one or more jurisdictions, or lapses of the statute of limitations. However, an estimate of the range of the reasonably possible change in the next twelve months cannot be made. As of December 31, 2022, $209.6 million of unrecognized tax benefits represents the amount that would, if recognized, impact the Company’s effective income tax rate. In accordance with the Company’s accounting policy, it recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for (benefit from) income taxes. The Company’s accrual for interest and penalties was $58.7 million and $65.8 million as of December 31, 2021 and 2022, respectively. The Company’s significant tax jurisdictions include the United States, California, and Ireland. The Company is currently under examination for income taxes by the Internal Revenue Service (“IRS”) for the 2013, 2016, 2017, and 2018 tax years. The primary issue under examination in the 2013 audit is the valuation of the Company’s international intellectual property which was sold to a subsidiary in 2013. In the year ended December 31, 2019, new information became available which required the Company to remeasure its reserve for unrecognized tax benefits. The Company recorded additional tax expense of $196.4 million during the year ended December 31, 2019. In December 2020, the Company received a Notice of Proposed Adjustment (“NOPA”) from the IRS which proposes an increase to the Company’s U.S. taxable income that could result in additional income tax expense and cash liability of $1.3 billion, plus penalties and interest, which exceeds its current reserve recorded in its consolidated financial statements by more than $1.0 billion. The Company disagrees with the proposed adjustment and intends to vigorously contest it. In February 2021, the Company submitted a protest to the IRS describing its disagreement with the proposed agreement and requesting the case be transferred to the IRS Independent Office of Appeals (“IRS Appeals”). In December 2021, the Company received a rebuttal from the IRS with the same proposed adjustments that were in the NOPA. In January 2022, the Company entered into an administrative dispute process with IRS Appeals. The Company will continue to pursue all available remedies to resolve this dispute, including petitioning the U.S. Tax Court (“Tax Court”) for redetermination if an acceptable outcome cannot be reached with IRS Appeals, and if necessary, appealing the Tax Court’s decision to the appropriate appellate court. The Company believes that adequate amounts have been reserved for any adjustments that may ultimately result from these examinations. If the IRS prevails in the assessment of additional tax due based on its position and such tax and related interest and penalties, if any, exceeds the Company’s current reserves, such outcome could have a material adverse impact on the Company’s financial position and results of operations, and any assessment of additional tax could require a significant cash payment and have a material adverse impact on the Company’s cash flow. On July 27, 2015, the United States Tax Court (the “Tax Court”) issued an opinion in Altera Corp. v. Commissioner (the “Tax Court Opinion”), which concluded that related parties in a cost sharing arrangement are not required to share expenses related to stock-based compensation. The Tax Court Opinion was appealed by the Commissioner to the Ninth Circuit Court of Appeals (the “Ninth Circuit”). On June 7, 2019, the Ninth Circuit issued an opinion (the “Ninth Circuit Opinion”) that reversed the Tax Court Opinion. On July 22, 2019, Altera Corp. filed a petition for a rehearing before the full Ninth Circuit. On November 12, 2019, the Ninth Circuit denied Altera Corp.’s petition for rehearing its case. The Company accordingly recognized tax expense of $26.6 million related to changes in uncertain tax positions during the year ended December 31, 2019. The Company reversed this expense entirely during the year ended December 31, 2020 due to the carryback of its 2020 net operating loss as allowable under the CARES Act. The Company’s 2008 to 2022 tax years remain subject to examination in the United States and California due to tax attributes and statutes of limitations, and its 2018 to 2022 tax years remain subject to examination in Ireland. There are other ongoing audits in various other jurisdictions that are not material to the Company’s financial statements. The Company remains subject to possible examination in various other jurisdictions that are not expected to result in material tax adjustments. On August 16, 2022, the Inflation Reduction Act (the “IRA”) was signed into law in the United States. Among other changes, the IRA introduced a corporate minimum tax on certain corporations with average adjusted financial statement income over a three-tax year period in excess of $1 billion and an excise tax on certain stock repurchases by certain covered corporations for taxable years beginning after December 31, 2022. While the corporate minimum tax law change has no immediate effect and is not expected to have a material adverse effect on the Company’s results of operations going forward, the Company will continue to evaluate its impact as further information becomes available.

Net Income (Loss) per Share

Net Income (Loss) per Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net Income (Loss) per Share The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the years indicated (in millions, except per share amounts): Year Ended December 31, 2020 2021 2022 Net income (loss) $ (4,585) $ (352) $ 1,893 Add: convertible notes interest expense, net of tax — — 4 Net income (loss) - diluted $ (4,585) $ (352) $ 1,897 Weighted-average shares in computing net income (loss) per share attributable to Class A and Class B common stockholders: Basic 284 616 637 Effect of dilutive securities — — 43 Diluted 284 616 680 Net income (loss) per share attributable to Class A and Class B common stockholders: Basic $ (16.12) $ (0.57) $ 2.97 Diluted $ (16.12) $ (0.57) $ 2.79 The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to 20 votes per share. Each share of Class B common stock is convertible into a share of Class A common stock voluntarily at any time by the holder, and automatically upon certain events. The Class A common stock has no conversion rights. As the liquidation and dividend rights are identical for Class A and Class B common stock, the undistributed earnings are allocated on a proportional basis and the resulting net loss per share attributable to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. There were no preferred dividends declared or accumulated for the years ended December 31, 2020, 2021, and 2022. As of December 31, 2020, 2021, and 2022, RSUs to be settled in 12.0 million, 9.6 million, and 9.6 million, respectively, shares of Class A common stock were excluded from the table below because they are subject to market conditions that were not achieved as of such date. As of December 31, 2020 and 2021, 0.5 million shares of RSAs were excluded from the table below because they are subject to performance conditions that were not achieved as of such date. As of December 31, 2022, 0.3 million shares of RSAs were excluded from the table below because they are subject to performance conditions that were not achieved as of such date. The 2026 Notes issued in March 2021 are deemed to be anti-dilutive under the if-converted method for the year ended December 31, 2021. Refer to Note 9, Debt , for further information on the 2026 Notes. Additionally, the following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in millions): Year Ended December 31, 2020 2021 2022 2026 Notes (1) — 11 — Warrants 8 8 — Escrow shares 1 — — Stock options 41 24 1 RSUs 36 26 9 ESPP 1 1 — Total 87 70 10

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit Plan The Company maintains a 401(k) defined contribution benefit plan that covers substantially all of its domestic employees. The plan allows U.S. employees to make voluntary pre-tax contributions in certain investments at the discretion of the employee, up to maximum annual contribution subject to Internal Revenue Code limitations. The Company matched a portion of employee contributions totaling $22.4 million, $19.1 million, and $23.4 million for the years ended December 31, 2020, 2021, and 2022, respectively. Both employee contributions and the Company’s matching contributions are fully vested upon contribution.

Geographic Information

Geographic Information	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Geographic Information	Geographic Information The following table sets forth the breakdown of revenue by geography, determined based on the location of the Host’s listing (in millions): Year Ended December 31, 2020 2021 2022 United States $ 1,649 $ 2,996 $ 3,890 International (1) 1,729 2,996 4,509 Total revenue $ 3,378 $ 5,992 $ 8,399 (1) No individual international country represented 10% or more of the Company’s total revenue for years ended December 31, 2020, 2021, and 2022. The following table sets forth the breakdown of long-lived assets based on geography (in millions): December 31, 2021 2022 United States $ 330 $ 203 Ireland 57 36 Other international 42 20 Total long-lived assets $ 429 $ 259 Tangible long-lived assets as of December 31, 2021 and 2022 consisted of property and equipment and operating lease ROU assets. Long-lived assets attributed to the United States, Ireland, and other international geographies are based upon the country in which the asset is located.

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the year ended December 31, 2020, the Company experienced significant economic challenges associated with a severe decline in bookings, resulting primarily from COVID-19 and overall global travel restrictions. To address these impacts, in May 2020, the Company’s management approved a restructuring plan to realign the Company’s business and strategic priorities based on the current market and economic conditions as a result of COVID-19. This worldwide restructuring plan included a 25% reduction in the number of full-time employees, or approximately 1,800 employees, as well as a reduction in the contingent workforce and amendments to certain commercial agreements. These restructuring expenses are included in the Company’s consolidated statements of operations, and unpaid amounts are included in accrued expenses and other current liabilities on its consolidated balance sheets. The cumulative restructuring charges as of December 31, 2022 was $353.3 million, for which the majority of these restructuring actions were completed in 2020. As of December 31, 2022, the restructuring liabilities were not material. For the year ended December 31, 2020, the Company incurred $151.4 million in restructuring charges, of which $103.8 million was related to severance and other employee costs, $35.8 million was related to lease impairments, and $11.8 million was primarily related to contract amendments and terminations. For the year ended December 31, 2021, the Company incurred $112.8 million in restructuring charges, including $75.3 million related to impairments of operating lease ROU assets and $37.2 million related to impairments of leasehold improvements. In 2022, the Company shifted to a remote work model, allowing its employees to work from anywhere in the country they currently work. The shift to a remote work model was in direct response to the change in how employees work due to the impact of COVID-19. As a result, for the year ended December 31, 2022, the Company recorded restructuring charges of $89.1 million, which include $80.5 million relating to an impairment of both domestic and international operating lease ROU assets, and $8.4 million of related leasehold improvements.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsAn individual who served as an executive officer of the Company through March 1, 2020, also served as a director of a payment processing vendor. The Company is party to a merchant agreement with the vendor whereby the Company earns transaction fees and incentives for offering its services to its customers in certain markets and satisfying certain base requirements pursuant to the agreement. The Company applies the transaction fees and incentives received to partially offset the merchant fees charged by the vendor. On March 1, 2020, this individual ceased as an employee of the Company and was appointed to the Company’s board of directors. Net expense with this vendor was $210.9 million for the year ended December 31, 2020, and was included in cost of revenue in the consolidated statements of operations.

Schedule II_Valuation and Quali

Schedule II—Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II—Valuation and Qualifying Accounts	Schedule II—Valuation and Qualifying Accounts The tables below detail the activity of the customer receivable reserve, insurance liability, and the valuation allowance on deferred tax assets for the years ended December 31, 2020, 2021, and 2022 (in millions): Balance at Charged to Charges Balance at Customer Receivable Reserve Year Ended December 31, 2020 $ 51 $ 108 $ (68) $ 91 Year Ended December 31, 2021 $ 91 $ 27 $ (87) $ 31 Year Ended December 31, 2022 $ 31 $ 49 $ (41) $ 39 Balance at Additions for Changes in Net Payments Balance at Insurance Liability Year Ended December 31, 2020 $ 73 $ 98 $ (21) $ (99) $ 51 Year Ended December 31, 2021 $ 51 $ 85 $ 1 $ (90) $ 47 Year Ended December 31, 2022 $ 47 $ 140 $ (5) $ (121) $ 61 Balance at Charged Charged to Balance at Valuation Allowance on Deferred Tax Assets Year Ended December 31, 2020 $ 1,024 $ 1,029 $ — $ 2,053 Year Ended December 31, 2021 $ 2,053 $ 1,211 $ — $ 3,264 Year Ended December 31, 2022 $ 3,264 $ (98) $ — $ 3,166

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company has changed its presentation from thousands to millions and, as a result, any necessary rounding adjustments have been made to prior period disclosed amounts.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries and variable interest entities (“VIE”) in which the Company is the primary beneficiary in accordance with consolidation accounting guidance. All intercompany transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company regularly evaluates its estimates, including those related to bad debt reserves, fair value of investments, useful lives of long-lived assets and intangible assets, valuation of goodwill and intangible assets from acquisitions, contingent liabilities, insurance reserves, revenue recognition, valuation of common stock, stock-based compensation, and income and non-income taxes, among others. Actual results could differ materially from these estimates. As the impact of the coronavirus disease (“COVID-19”) pandemic and the challenging macroeconomic conditions, including inflation and rising interest rates, and potential decreased consumer spending, continues to evolve, estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require increased judgment. These estimates and assumptions may change in future periods and will be recognized in the consolidated financial statements as new events occur and additional information becomes known. To the extent the Company’s actual results differ materially from those estimates and assumptions, the Company’s future consolidated financial statements could be affected.
Segment Information	Segment Information Operating segments are defined as components of an entity for which discrete financial information is available and is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in making decisions regarding resource allocation and performance assessment. The Company’s CODM is its Chief Executive Officer. The Company has determined it has one operating and reportable segment as the CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance.
Cash and Cash Equivalents	Cash and Cash EquivalentsCash and cash equivalents are held in checking and interest-bearing accounts and consist of cash and highly-liquid securities with an original maturity of 90 days or less.
Marketable Securities	Marketable Securities The Company considers all highly-liquid investments with original maturities of greater than 90 days to be marketable securities. The Company determines the appropriate classification of its investments in marketable securities at the time of purchase. As the Company views these investments as available to support current operations, it accounts for these debt securities as available-for-sale and classifies them as short-term assets on its consolidated balance sheets. The Company determines realized gains or losses on the sale of equity and debt securities on a specific identification method. Unrealized gains and non-credit related losses on available-for-sale debt securities are reported as a component of accumulated other comprehensive income (loss) in stockholders’ equity (deficit). Realized gains and losses and impairments are reported within other income (expense), net in the consolidated statements of operations. The assessment for impairment takes into account the severity and duration of the decline in value, adverse changes in the market or industry of the investee, the Company’s intent to sell the security, and whether it is more likely than not that it will be required to sell the security before recovery of the amortized cost basis. The Company’s marketable equity securities with readily determinable fair values are measured at fair value on a recurring basis with changes in fair value recognized within other income (expense), net in the consolidated statements of operations.
Non-Marketable Investments	Non-Marketable Investments Non-marketable investments consist of debt and equity investments in privately-held companies, which are classified as other assets, noncurrent on the consolidated balance sheets. The Company classifies its non-marketable investments that meet the definition of a debt security as available-for-sale. The accounting policy for debt securities classified as available-for-sale is described above. The Company’s non-marketable equity investments are accounted for using either the equity method of accounting or as equity investments without readily determinable fair values under the measurement alternative. The Company uses the equity method if it has the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. For investments accounted for using the equity method, the Company’s proportionate share of its equity interest in the net income (loss) and other comprehensive income (loss) of these companies is recorded in the consolidated statements of operations within other income (expense), net. The carrying amount of the investment in equity interests is adjusted to reflect the Company’s interest in the investee’s net income or loss and any impairments and is classified in other assets, noncurrent on the consolidated balance sheets. Equity investments for which the Company is not able to exercise significant influence over the investee and for which fair value is not readily determinable are accounted for using the measurement alternative. Such investments are carried at cost, less any impairments, and are adjusted for subsequent observable price changes obtained from orderly transactions for identical or similar investments issued by the same investee. This election is reassessed each reporting period to determine whether non-marketable equity securities have a readily
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company applies fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements. The authoritative guidance on fair value measurements establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. This hierarchy requires the Company to use observable market data when available and to minimize the use of unobservable inputs when determining fair value. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Financial instruments measured and disclosed at fair value are classified and disclosed based on the observability of inputs used in the determination of fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Observable inputs other than Level 1 prices, such as quoted prices in less active markets or model-derived valuations that are observable either directly or indirectly. Level 3: Unobservable inputs in which there is little or no market data that are significant to the fair value of the assets or liabilities. The carrying amount of the Company’s financial instruments, including cash equivalents, funds receivable and amounts held on behalf of customers, accounts payable, accrued liabilities, funds payable and amounts payable to customers, and unearned fees approximate their respective fair values because of their short maturities. Level 2 Valuation Techniques Financial instruments classified as Level 2 within the Company’s fair value hierarchy are valued on the basis of prices from an orderly transaction between market participants provided by reputable dealers or pricing services. Prices of these securities are obtained through independent, third-party pricing services and include market quotations that may include both observable and unobservable inputs. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices and market transactions in comparable investments, and various relationships between investments. The Company’s foreign exchange derivative instruments are valued using pricing models that take into account the contract terms, as well as multiple inputs where applicable, such as interest rate yield curves and currency rates. Level 3 Valuation Techniques Financial instruments classified as Level 3 within the Company’s fair value hierarchy consist primarily of a derivative warrant liability relating to the warrants issued in conjunction with the second lien loan discussed in Note 9, Debt
Internal-Use Software	Internal-Use Software The Company capitalizes certain costs in connection with obtaining or developing software for internal use. Amortization of such costs begins when the project is substantially complete and ready for its intended use. Capitalized software development costs are classified as
Property and Equipment	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization on property and equipment is calculated using the straight-line method over the estimated useful lives indicated below: Asset Category Period Computer equipment 5 years Computer software and capitalized internal-use software 1.5 to 3 years Office furniture and equipment 5 years Buildings 25 to 40 years Leasehold improvements Lesser of estimated useful life or remaining lease term
Leases	Leases The Company determines whether an arrangement is or contains a lease at inception. Operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease ROU assets represent the Company’s right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs, lease incentives, and impairment of operating lease assets. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company has real estate and equipment lease agreements that contain lease and non-lease components, which are accounted for as a single lease component. The Company’s leases often contain rent escalations over the lease term. The Company recognizes expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives, primarily used to fund leasehold improvements, are recognized when earned and reduce the Company’s right-of-use asset related to the lease. These are amortized through the right-of-use asset as reductions of expense over the lease term. The Company’s lease agreements may contain variable costs such as common area maintenance, operating expenses, or other costs. Variable lease costs are expensed as incurred on the consolidated statements of operations. The Company’s lease agreements generally do not contain any residual value guarantees or restrictive covenants. For substantially all leases with an initial non-cancelable lease term of less than one year and no option to purchase, the Company elected not to recognize the lease on its Consolidated Balance Sheets and instead recognize rent payments on a straight-line basis over the lease term within operating expense on its Consolidated Statements of Operations.
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. The Company has one reporting unit. The Company tests goodwill for impairment at least annually in the fourth quarter, or whenever events or changes in circumstances indicate that goodwill might be impaired. The Company uses a two-step process to assess the realizability of goodwill. The first step, Step 0, is a qualitative assessment that analyzes current economic indicators associated with a particular reporting unit. For example, the Company analyzes changes in economic, market and industry conditions, business strategy, cost factors, and financial performance, among others, to determine if there would be a significant decline to the fair value of a reporting unit. A qualitative assessment also includes analyzing the excess fair value of a reporting unit over its carrying value from impairment assessments performed in previous years. If the qualitative assessment indicates a stable or improved fair value, no further testing is required. If a qualitative assessment indicates that a significant decline to fair value of a reporting unit is more likely than not, or if a reporting unit’s fair value has historically been closer to its carrying value, the Company will proceed to Step 1 testing where the Company calculates the fair value of a reporting unit. If Step 1 indicates that the carrying value of a reporting unit is in excess of its fair value, the Company will record an impairment equal to the amount by which a reporting unit’s carrying value exceeds its fair value.
Intangible Assets	Intangible Assets Intangible assets are amortized on a straight-line basis over the estimated useful lives ranging from one
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets that are held and used by the Company are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Determination of recoverability of long-lived assets is based on an estimate of the undiscounted cash flows resulting from the use of the asset and its eventual disposition. If the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third-party independent appraisals, as necessary. Any impairments to ROU assets, leasehold improvements, or other assets as a result of a sublease, abandonment, or other similar factor are recorded as an operating expense. Similar to other long-lived assets, management tests ROU assets for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. For ROU assets, such circumstances may include subleases that do not fully recover the costs of the associated leases or a decision to abandon the use of all or part of an asset. For the years ended December 31, 2020 and 2021, the Company recorded $35.8 million and $112.5 million, respectively, of long-lived asset impairment charges within restructuring charges in the consolidated statement of operations. For the year ended December 31, 2022, the Company recorded $91.4 million of long-lived asset impairment, of which $88.9 million was recorded within restructuring charges and the remainder within general and administrative, in the consolidated statements of operations.
Revenue Recognition	Revenue Recognition The Company generates substantially all of its revenue from facilitating guest stays at accommodations offered by Hosts on the Company’s platform. The Company considers both Hosts and guests to be its customers. The customers agree to the Company’s Terms of Service (“ToS”) to use the Company’s platform. Upon confirmation of a booking made by a guest, the Host agrees to provide the use of the property. At such time, the Host and guest also agree upon the applicable booking value as well as Host fees and guest fees (collectively “service fees”). The Company charges service fees in exchange for certain activities, including the use of the Company’s platform, customer support, and payment processing activities. These activities are not distinct from each other and are not separate performance obligations. As a result, the Company’s single performance obligation is to facilitate a stay, which occurs upon the completion of a check-in event (a “check-in”). The Company recognizes revenue upon check-in as its performance obligation is satisfied upon check-in and the Company has the right to receive payment for the fulfillment of the performance obligation. The Company charges service fees to its customers as a percentage of the value of the booking, excluding taxes. The Company collects both the booking value from the guest on behalf of the Host and the applicable guest fees owed to the Company using the guest’s pre-authorized payment method. After check-in, the Company disburses the booking value to the Host, less the fees due from the Host to the Company. The Company’s ToS stipulates that a Host may cancel a confirmed booking at any time up to check-in. Therefore, the Company determined that for accounting purposes, each booking is a separate contract with the Host and guest, and the contracts are not enforceable until check-in. Since an enforceable contract for accounting purposes is not established until check-in, there were no partially satisfied or unsatisfied performance obligations as of December 31, 2021 and 2022. The service fees collected from customers prior to check-in are recorded as unearned fees. Unearned fees are not considered contract balances because they are subject to refund in the event of a cancellation. Guest stays of at least 28 nights are considered long-term stays. The Company charges service fees to facilitate long-term stays on a monthly basis. Such stays are generally cancelable with a 30 days advance notice for no significant penalty. Accordingly, long-term stays are treated as month-to-month contracts; each month is a separate contract with the Host and guest, and the contracts are not enforceable until check-in for the initial month as well as subsequent monthly extensions. The Company’s performance obligation for long-term stays is the same as that for short-term stays. The Company recognizes revenue for the first month upon check-in, similar to short-term stays, and recognizes revenue for any subsequent months upon each month’s anniversary from initial check-in date. The Company evaluates the presentation of revenue on a gross versus net basis based on whether or not it is the principal (gross) or the agent (net) in the transaction. As part of the evaluation, the Company considers whether it controls the right to use the property before control is transferred. Indicators of control that the Company considers include whether the Company is primarily responsible for fulfilling the promise associated with the rental of the property, whether it has inventory risk associated with the property, and whether it has discretion in establishing the prices for the property. The Company determined that it does not control the right to use the properties either before or after completion of its service. Accordingly, the Company has concluded that it is acting in an agent capacity and revenue is presented net reflecting the service fees received from Hosts and guests to facilitate a stay. The Company has elected to recognize the incremental costs of obtaining a contract, including the costs of certain referrer fees, as an expense when incurred as the amortization period of the asset that the Company otherwise would have recognized is one year or less. The Company has no significant financing components in its contracts with customers. Incentive Programs The Company encourages the use of its platform and attracts new customers through its incentive programs. Under the Company’s referral program, the referring party (the “referrer”) earns a coupon when the new guest or Host (the “referee”) completes their first stay on the Company’s platform. Incentives earned by customers for referring new customers are paid in exchange for a distinct service and are accounted for as customer acquisition costs. The Company records the incentive as a liability at the time the incentive is earned by the referrer with the corresponding charge recorded to sales and marketing expense in the same way the Company accounts for other marketing services from third-party vendors. Any amounts paid in excess of the fair value of the referral service received are recorded as a reduction of revenue. Fair value of the service is established using amounts paid to vendors for similar services. Customer referral coupon credits generally expire within one year from issuance and the Company estimates the redemption rates using its historical experience. As of December 31, 2021 and 2022, the referral coupon liability was not material. Through marketing promotions, the Company issues customer coupon credits to encourage the use of its platform. After a customer redeems such incentives, the Company records a reduction to revenue at the date it records the corresponding revenue transaction, as the Company does not receive a distinct good or service in exchange for the customer incentive payment. Refunds In certain instances, the Company issues refunds to customers as part of its customer support activities in the form of cash or credits to be applied toward a future booking. There is no legal obligation to issue such refunds to Hosts or guests on behalf of its customers. The Company accounts for refunds, net of any recoveries, as variable consideration, which results in a reduction to revenue. The Company reduces the transaction price by the estimated amount of the payments by applying the most likely outcome method based on known facts and circumstances and historical experience. The estimate for variable consideration was not material as of December 31, 2021 and 2022.
Payments to Customers	Payments to Customers The Company makes payments to customers as part of its referral programs and marketing promotions, collectively referred to as the Company’s incentive programs, and refund activities. The payments are generally in the form of coupon credits to be applied toward future bookings or as cash refunds.
Funds Receivable and Funds Payable	Funds Receivable and Funds Payable Funds receivable and amounts held on behalf of customers represent cash received or in-transit from guests via third-party credit card processors and other payment methods, which the Company remits for payment to the Hosts following check-in. This cash and related receivable represent the total amount due to Hosts, and as such, a liability for the same amount is recorded to funds payable and amounts payable to customers. The Company records guest payments, net of service fees, as funds receivable and amounts held on behalf of customers with a corresponding amount in funds payable and amounts payable to customers when cash is received in advance of check-in. Host and guest fees are recorded as cash with a corresponding amount in unearned fees. For certain bookings, a guest may opt to pay a percentage of the total amount due when the booking is confirmed, with the remaining balance due prior to the stay occurring (the “Pay Less Upfront Program”). Under the Pay Less Upfront Program, when the Company receives the first installment payment from the guest upon confirmation of the booking, the Company records the first installment payment as funds receivable and amounts held on behalf of customers with a corresponding amount in funds payable and amounts payable to customers, net of the Host and guest fees. The full value of the service fees is recorded as cash and cash equivalents and unearned fees upon receipt of the first installment payment to represent what the Company expects to be recognized as revenue if the underlying booking is not canceled. Upon receipt of the second installment, such payment amounts are also recorded as funds receivable and amounts held on behalf of customers with a corresponding amount in funds payable and amounts payable to customers.
Bad Debt	Bad Debt The Company generally collects funds related to bookings from guests on behalf of Hosts prior to check-in. However, in limited circumstances the Company disburses funds to a Host or a guest on behalf of a counterparty guest or Host prior to collecting such amounts from the counterparty. Such uncollected balances generally arise from the timing of payments and collections related to a dispute resolution between the guest and Host or certain alterations to stays and are included in prepaids and other current assets on the consolidated balance sheets. The Company records a customer receivable allowance for credit losses for funds that may never be collected. The Company estimated its exposure to balances deemed to be uncollectible based on factors including known facts and circumstances, historical experience, reasonable and supportable forecasts of economic conditions, and the age of the uncollected
Cost of Revenue	Cost of RevenueCost of revenue primarily consists of payment processing charges, including merchant fees and chargebacks, costs associated with third-party data centers used to host the Company’s platform, and amortization of internally developed software and acquired technology.
Operations and Support	Operations and Support Operations and support costs primarily consist of personnel-related expenses and third-party service provider fees associated with customer support provided via phone, email, and chat to Hosts and guests, customer relations costs, which include refunds and credits related to customer satisfaction and expenses associated with the Company’s Host protection programs, and allocated costs for facilities and information technology. These costs are expensed as incurred.
Product Development	Product Development Product development costs primarily consist of personnel-related expenses and third-party service provider fees incurred in connection with the development of the Company’s platform and new products as well as the improvement of existing products, and allocated costs for facilities and information technology. These costs are expensed as incurred.
Sales and Marketing	Sales and Marketing Sales and marketing costs primarily consist of performance and brand marketing, personnel-related expenses, including those related to field operations, portions of referral incentives and coupons, policy and communications, and allocated costs for facilities and information technology. These costs are expensed as incurred. Advertising expenses were $176.0 million, $542.1 million, and $786.1 million for the years ended December 31, 2020, 2021, and 2022, respectively.
General and Administrative	General and Administrative General and administrative costs primarily consist of personnel-related expenses for executive management and administrative functions, including finance and accounting, legal, and human resources, as well as general corporate and director and officer insurance. General and administrative costs also include certain professional services fees, allocated costs for facilities and information technology expenses, indirect taxes including lodging taxes where the Company may be held jointly liable with Hosts for collecting and remitting such taxes, and bad debt expense. These costs are expensed as incurred.
Restructuring Charges	Restructuring Charges Costs and liabilities associated with management-approved restructuring activities are recognized when they are incurred. One-time employee termination costs are recognized at the time of communication to employees, unless future service is required, in which case the costs are recognized ratably over the future service period. Ongoing employee termination benefits are recognized as a liability when it is probable that a liability exists and the amount is reasonably estimable. Restructuring charges are recognized as an operating expense within the consolidated statements of operations and related liabilities are recorded within accrued expenses and other liabilities on the consolidated balance sheets. The Company periodically evaluates and, if necessary, adjusts its estimates based on currently available information.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax law in effect for the years in which the temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized. In determining the need for a valuation allowance, the Company weighs both positive and negative evidence in the various jurisdictions in which it operates to determine whether it is more likely than not that its deferred tax assets are recoverable. The Company regularly assesses all available evidence, including cumulative historic losses, forecasted earnings, if carryback is permitted under the law, carryforward periods, and prudent and feasible tax planning strategies.
Foreign Currency	Foreign Currency The Company’s reporting currency is the U.S. dollar. The Company determines the functional currency for each of its foreign subsidiaries by reviewing their operations and currencies used in their primary economic environments. Assets and liabilities for foreign subsidiaries with functional currency other than U.S. dollar are translated into U.S. dollars at the rate of exchange existing at the balance sheet date. Statements of operations amounts are translated at average exchange rates for the period. Translation gains and losses are recorded in accumulated other comprehensive income (loss) as a component of stockholders’ equity (deficit). No material amounts were reclassified from accumulated other comprehensive income (loss) for the years ended December 31, 2020, 2021, and 2022. Remeasurement gains and losses are included in other income (expense), net in the consolidated statements of operations. Monetary assets and liabilities are remeasured at the exchange rate on the balance sheet date and nonmonetary assets and liabilities are measured at historical exchange rates. As of December 31, 2021, and 2022, the Company had a cumulative translation gain of $2.8 million and $12.9 million, respectively. Total net realized and unrealized gains (losses) on foreign currency transactions and balances totaled $31.5 million, $(5.1) million, and $29.5 million for the years ended December 31, 2020, 2021, and 2022, respectively.
Derivatives Instruments	Derivative Instruments The Company enters into financial derivative instruments, consisting of foreign currency contracts to mitigate its exposure to the impact of movements in currency exchange rates on its transactional balances denominated in currencies other than the functional currency. The Company does not use derivatives for trading or speculative purposes. Derivative instruments are recognized in the consolidated balance sheets at fair value. Gains and losses resulting from changes in the fair value of derivative instruments that are not designated as hedging instruments for accounting purposes are recognized in other income (expense), net in the consolidated statements of operations in the period that the changes occur.
Share Repurchase	Share RepurchaseShare repurchases may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, or accelerated share repurchase transactions, or by any combination of such methods. Share repurchases are recorded at settlement date. When shares are retired, the value of repurchased shares is deducted from stockholders’ equity through capital with the excess over par value recorded to accumulated deficit.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense primarily relates to restricted stock units (“RSUs”), restricted stock awards (“RSAs”), stock options, and the Employee Stock Purchase Plan (“ESPP”). RSUs and RSAs are measured at the fair market value of the underlying stock at the grant date and the expense is recognized over the requisite service period. The fair value of stock options and ESPP shares are estimated on the date of grant using the Black-Scholes option pricing model to determine the fair value of stock options on the date of grant. The Company estimates the expected term of stock options granted based on the simplified method and estimates the volatility of its common stock on the date of grant based on the average historical stock price volatility of comparable publicly-traded companies. The simplified method calculates the expected term as the mid-point between the weighted-average time to vesting and the contractual maturity. The simplified method is used as the Company does not have sufficient historical data regarding stock option exercises. The contractual term of the Company’s stock options is ten years. The Company accounts for forfeitures as they occur. The benefits of tax deductions in excess of recognized compensation costs are recognized in the income statement as a discrete item when an option exercise or a vesting and release of shares occurs.
Net Income (Loss) Per Share Attributable to Common Stockholders	Net Income (Loss) Per Share Attributable to Common Stockholders The Company applies the two-class method when computing net income (loss) per share attributable to common stockholders when shares are issued that meet the definition of a participating security. The two-class method determines net income (loss) per share for each class of common stock and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires earnings available to common stockholders for the period to be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all earnings for the period had been distributed. The Company’s previously outstanding redeemable convertible preferred stock was a participating security as the holders of such shares participated in dividends but did not contractually participate in the Company’s losses.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) reflects gains and losses that are recorded as a component of stockholders’ equity and are excluded from net loss. Other comprehensive income (loss) consists of foreign currency translation adjustments related to consolidation of foreign entities and unrealized gains (losses) on securities classified as available-for-sale.
Contingencies	Contingencies The Company is subject to legal proceedings and claims that arise in the ordinary course of business. The Company accrues for losses associated with legal claims when such losses are probable and can be reasonably estimated. These accruals are adjusted as additional information becomes available or circumstances change.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards In May 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-04, Earnings Per Share (Topic 260), Debt - Modifications and Extinguishments (Topic 470-50), Compensation - Stock Compensation (Topic 718), and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40) , which clarifies existing guidance for freestanding written call options which are equity classified and remain so after they are modified or exchanged in order to reduce diversity in practice. The standard is effective for public entities in fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. The Company adopted the standard during the first quarter of 2022, which did not have an impact on the Company's consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815) , which clarifies the guidance on fair value hedge accounting of interest rate risk for portfolios of financial assets. The standard is effective for public entities in fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted on any date on or after the issuance of ASU 2017-12. The Company does not expect the adoption of the new guidance will have a material impact on the Company’s consolidated financial statements. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies the guidance of equity securities that are subject to a contractual sale restriction as well as includes specific disclosure requirements for such equity securities. The standard is effective for public entities in fiscal years beginning after December 15, 2023, including interim periods within those fiscal years and will be applied prospectively. The Company does not expect the adoption of the new guidance will have a material impact on the Company’s consolidated financial statements. There are other new accounting pronouncements issued by the FASB that the Company has adopted or will adopt, as applicable, and the Company does not believe any of these accounting pronouncements have had, or will have, a material impact on its consolidated financial statements or disclosures.
Prior Period Reclassifications	Prior Period Reclassifications Certain immaterial amounts in prior periods have been reclassified to conform with current period presentation.
Revision of Previously Issued Financial Statements	Revision of Previously Issued Financial StatementsThe consolidated statements of cash flows for years ended December 31, 2020, and 2021 has been revised to correct for errors identified by management during the preparation of the financial statements for the three months ended March 31, 2022. The errors overstated cash flows from operating activities by $111.0 million and understated the cash flows from financing activities by $111.0 million for the year ended December 31, 2020, and understated cash flows from operating activities by $123.0 million and overstated the cash flows from financing activities by $123.0 million for the year ended December 31, 2021. Management has determined that these errors did not result in the previously issued financial statements being materially misstated. These errors primarily related to the timing of tax payments from the net settlement of equity awards at the initial public offering in December 2020. In particular, in 2020, the Company reported $1.7 billion of cash used in financing activities to cover taxes paid related to the net share settlement of its equity awards that vested upon the initial public offering. However, approximately $123.0 million of this amount was actually remitted to taxing authorities in foreign jurisdictions during 2021. This had no impact on the Company’s consolidated financial statements outside of the presentation in the consolidated statements of cash flow and did not affect the consolidated balance sheets, consolidated statements of operations, or consolidated statements of stockholders’ equity.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of Depreciation and Amortization on Property and Equipment	Depreciation and amortization on property and equipment is calculated using the straight-line method over the estimated useful lives indicated below: Asset Category Period Computer equipment 5 years Computer software and capitalized internal-use software 1.5 to 3 years Office furniture and equipment 5 years Buildings 25 to 40 years Leasehold improvements Lesser of estimated useful life or remaining lease term Property and equipment, net, consisted of the following (in millions): December 31, 2021 2022 Computer software and capitalized internal-use software $ 175 $ 164 Leasehold improvements 214 152 Computer equipment 57 32 Office furniture and equipment 43 23 Buildings and land 17 17 Construction in progress 30 45 Total 536 433 Less: Accumulated depreciation and amortization (379) (312) Total property and equipment, net $ 157 $ 121

Supplemental Financial Statem_2

Supplemental Financial Statement Information (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	The following table reconciles cash, cash equivalents, and restricted cash reported on the Company’s consolidated balance sheets to the total amount presented in the consolidated statements of cash flows (in millions): December 31, 2021 2022 Cash and cash equivalents $ 6,067 $ 7,378 Cash and cash equivalents included in funds receivable and amounts held on behalf of customers 3,645 4,708 Restricted cash included in prepaids and other current assets 15 17 Total cash, cash equivalents, and restricted cash presented in the consolidated statements of cash flows $ 9,727 $ 12,103 The following tables summarize the amortized cost, gross unrealized gains and losses, and fair value of the Company’s available-for-sale debt securities aggregated by investment category (in millions): December 31, 2021 Classification as of December 31, 2021 Amortized Gross Gross Total Cash and Marketable Other Certificates of deposit $ 395 $ — $ — $ 395 $ 31 $ 364 $ — Government bonds (1) 1 — — 1 — 1 — Commercial paper 1,157 — — 1,157 164 993 — Corporate debt securities 918 — (3) 915 42 863 10 Mortgage-backed and asset-backed securities 34 — — 34 — 34 — Total $ 2,505 $ — $ (3) $ 2,502 $ 237 $ 2,255 $ 10 (1) Includes U.S. government and government agency debt securities December 31, 2022 Classification as of December 31, 2022 Amortized Gross Gross Total Cash and Marketable Other Certificates of deposit $ 599 $ — $ — $ 599 $ 26 $ 573 $ — Government bonds (1) 115 — — 115 32 83 — Commercial paper 901 — — 901 327 574 — Corporate debt securities 1,046 1 (16) 1,031 68 959 4 Mortgage-backed and asset-backed securities 37 — (3) 34 — 34 — Total $ 2,698 $ 1 $ (19) $ 2,680 $ 453 $ 2,223 $ 4 (1) Includes U.S. government and government agency debt securities
Schedule of Restricted Cash	The following table reconciles cash, cash equivalents, and restricted cash reported on the Company’s consolidated balance sheets to the total amount presented in the consolidated statements of cash flows (in millions): December 31, 2021 2022 Cash and cash equivalents $ 6,067 $ 7,378 Cash and cash equivalents included in funds receivable and amounts held on behalf of customers 3,645 4,708 Restricted cash included in prepaids and other current assets 15 17 Total cash, cash equivalents, and restricted cash presented in the consolidated statements of cash flows $ 9,727 $ 12,103
Accrued Expenses And Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following (in millions): December 31, 2021 2022 Indirect taxes payable $ 310 $ 418 Compensation and employee benefits 416 380 Indirect tax reserves 183 206 Gift card liability 98 141 Other 552 672 Total accrued expenses and other current liabilities $ 1,559 $ 1,817
Payments Made To Customers	The following table summarizes total payments made to customers (in millions): Year Ended December 31, 2020 2021 2022 Reductions to revenue $ 384 $ 156 $ 284 Charges to operations and support 83 69 88 Charges to sales and marketing expense 57 47 60 Total payments made to customers $ 524 $ 272 $ 432

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Cash and Cash Equivalents	The following table reconciles cash, cash equivalents, and restricted cash reported on the Company’s consolidated balance sheets to the total amount presented in the consolidated statements of cash flows (in millions): December 31, 2021 2022 Cash and cash equivalents $ 6,067 $ 7,378 Cash and cash equivalents included in funds receivable and amounts held on behalf of customers 3,645 4,708 Restricted cash included in prepaids and other current assets 15 17 Total cash, cash equivalents, and restricted cash presented in the consolidated statements of cash flows $ 9,727 $ 12,103 The following tables summarize the amortized cost, gross unrealized gains and losses, and fair value of the Company’s available-for-sale debt securities aggregated by investment category (in millions): December 31, 2021 Classification as of December 31, 2021 Amortized Gross Gross Total Cash and Marketable Other Certificates of deposit $ 395 $ — $ — $ 395 $ 31 $ 364 $ — Government bonds (1) 1 — — 1 — 1 — Commercial paper 1,157 — — 1,157 164 993 — Corporate debt securities 918 — (3) 915 42 863 10 Mortgage-backed and asset-backed securities 34 — — 34 — 34 — Total $ 2,505 $ — $ (3) $ 2,502 $ 237 $ 2,255 $ 10 (1) Includes U.S. government and government agency debt securities December 31, 2022 Classification as of December 31, 2022 Amortized Gross Gross Total Cash and Marketable Other Certificates of deposit $ 599 $ — $ — $ 599 $ 26 $ 573 $ — Government bonds (1) 115 — — 115 32 83 — Commercial paper 901 — — 901 327 574 — Corporate debt securities 1,046 1 (16) 1,031 68 959 4 Mortgage-backed and asset-backed securities 37 — (3) 34 — 34 — Total $ 2,698 $ 1 $ (19) $ 2,680 $ 453 $ 2,223 $ 4 (1) Includes U.S. government and government agency debt securities
Debt Securities, Available-for-sale	The following tables summarize the amortized cost, gross unrealized gains and losses, and fair value of the Company’s available-for-sale debt securities aggregated by investment category (in millions): December 31, 2021 Classification as of December 31, 2021 Amortized Gross Gross Total Cash and Marketable Other Certificates of deposit $ 395 $ — $ — $ 395 $ 31 $ 364 $ — Government bonds (1) 1 — — 1 — 1 — Commercial paper 1,157 — — 1,157 164 993 — Corporate debt securities 918 — (3) 915 42 863 10 Mortgage-backed and asset-backed securities 34 — — 34 — 34 — Total $ 2,505 $ — $ (3) $ 2,502 $ 237 $ 2,255 $ 10 (1) Includes U.S. government and government agency debt securities December 31, 2022 Classification as of December 31, 2022 Amortized Gross Gross Total Cash and Marketable Other Certificates of deposit $ 599 $ — $ — $ 599 $ 26 $ 573 $ — Government bonds (1) 115 — — 115 32 83 — Commercial paper 901 — — 901 327 574 — Corporate debt securities 1,046 1 (16) 1,031 68 959 4 Mortgage-backed and asset-backed securities 37 — (3) 34 — 34 — Total $ 2,698 $ 1 $ (19) $ 2,680 $ 453 $ 2,223 $ 4 (1) Includes U.S. government and government agency debt securities
Contractual Maturities of the Available-for-Sale Debt Securities	The following table summarizes the contractual maturities of the Company’s available-for-sale debt securities (in millions): December 31, 2022 Amortized Estimated Due within one year $ 2,238 $ 2,236 Due in one year to five years 435 422 Due within five to ten years 22 19 Due beyond ten years 3 3 Total $ 2,698 $ 2,680

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value	The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis (in millions): December 31, 2021 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 1,923 $ — $ — $ 1,923 Certificates of deposit 31 — — 31 Commercial paper — 164 — 164 Corporate debt securities — 42 — 42 1,954 206 — 2,160 Marketable securities: Certificates of deposit 364 — — 364 Government bonds (1) — 1 — 1 Commercial paper — 993 — 993 Corporate debt securities — 863 — 863 Mortgage-backed and asset-backed securities — 34 — 34 364 1,891 — 2,255 Funds receivable and amounts held on behalf of customers: Money market funds 466 — — 466 Prepaids and other current assets: Foreign exchange derivative assets — 26 — 26 Other assets, noncurrent: Corporate debt securities — — 10 10 Total assets at fair value $ 2,784 $ 2,123 $ 10 $ 4,917 Liabilities Accrued expenses and other current liabilities: Foreign exchange derivative liabilities $ — $ 10 $ — $ 10 Total liabilities at fair value $ — $ 10 $ — $ 10 (1) Includes U.S. government and government agency debt securities December 31, 2022 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 2,326 $ — $ — $ 2,326 Certificates of deposit 26 — — 26 Government bonds (1) — 32 — 32 Commercial paper — 327 — 327 Corporate debt securities — 68 — 68 2,352 427 — 2,779 Marketable securities: Certificates of deposit 573 — — 573 Government bonds (1) — 83 — 83 Commercial paper — 574 — 574 Corporate debt securities — 959 — 959 Mortgage-backed and asset-backed securities — 34 — 34 Marketable equity securities 1 — — 1 574 1,650 — 2,224 Funds receivable and amounts held on behalf of customers: Money market funds 501 — — 501 Prepaids and other current assets: Foreign exchange derivative assets — 14 — 14 Other assets, noncurrent: Corporate debt securities — — 4 4 Total assets at fair value $ 3,427 $ 2,091 $ 4 $ 5,522 Liabilities Accrued expenses and other current liabilities: Foreign exchange derivative liabilities $ — $ 31 $ — $ 31 Total liabilities at fair value $ — $ 31 $ — $ 31 (1) Includes U.S. government and government agency debt securities
Schedule of Fair Value Assets Measured on Recurring Basis, Rollforward	The following table presents additional information about investments that are measured at fair value for which the Company has utilized Level 3 inputs to determine fair value (in millions): December 31, 2021 2022 Derivative Other Other Balance, beginning of year $ 985 $ 11 $ 10 Reclassifications to equity (1,277) — — Total realized and unrealized gains (losses): Included in earnings 292 — — Included in other comprehensive income (loss) — (1) (6) Balance, end of year $ — $ 10 $ 4 Changes in unrealized gains or losses included in other comprehensive income (loss) related to investments held at the reporting date $ — $ (1) $ (6)
Schedule of Fair Value Liabilities Measured on Recurring Basis, Rollforward	The following table presents additional information about investments that are measured at fair value for which the Company has utilized Level 3 inputs to determine fair value (in millions): December 31, 2021 2022 Derivative Other Other Balance, beginning of year $ 985 $ 11 $ 10 Reclassifications to equity (1,277) — — Total realized and unrealized gains (losses): Included in earnings 292 — — Included in other comprehensive income (loss) — (1) (6) Balance, end of year $ — $ 10 $ 4 Changes in unrealized gains or losses included in other comprehensive income (loss) related to investments held at the reporting date $ — $ (1) $ (6)

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Identifiable intangible assets consisted of the following (in millions): December 31, 2021 December 31, 2022 Gross Carrying Amount (1) Accumulated Amortization (1) Net Gross Carrying Amount (1) Accumulated Amortization (1) Net Listing relationships $ 43 $ (16) $ 27 $ 35 $ (13) $ 22 Trade names 33 (18) 15 33 (25) 8 Developed technology 23 (21) 2 — — — Customer contacts 4 (4) — — — — Other 10 (2) 8 9 (5) 4 Total intangible assets $ 113 $ (61) $ 52 $ 77 $ (43) $ 34 (1) Excludes write off of intangible assets that have been fully amortized.
Schedule of Estimated Amortization Expense for Intangible Assets	Estimated future amortization expense for intangible assets as of December 31, 2022 was as follows (in millions): Year Ending December 31, Amount 2023 $ 11 2024 6 2025 5 2026 4 2027 4 Thereafter 4 Total future amortization expense $ 34
Schedule of Goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2022 were as follows (in millions): Amount Balance as of December 31, 2020 $ 656 Foreign currency translation adjustments (3) Balance as of December 31, 2021 653 Foreign currency translation adjustments (3) Balance as of December 31, 2022 $ 650

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Depreciation and Amortization on Property and Equipment	Depreciation and amortization on property and equipment is calculated using the straight-line method over the estimated useful lives indicated below: Asset Category Period Computer equipment 5 years Computer software and capitalized internal-use software 1.5 to 3 years Office furniture and equipment 5 years Buildings 25 to 40 years Leasehold improvements Lesser of estimated useful life or remaining lease term Property and equipment, net, consisted of the following (in millions): December 31, 2021 2022 Computer software and capitalized internal-use software $ 175 $ 164 Leasehold improvements 214 152 Computer equipment 57 32 Office furniture and equipment 43 23 Buildings and land 17 17 Construction in progress 30 45 Total 536 433 Less: Accumulated depreciation and amortization (379) (312) Total property and equipment, net $ 157 $ 121

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lease, Cost	The components of lease cost were as follows (in millions): Year Ended December 31, 2020 2021 2022 Operating lease cost (1) $ 91 $ 83 $ 77 Short-term lease cost (1) 1 3 2 Variable lease cost (1) 12 14 17 Lease cost, net (2) $ 104 $ 100 $ 96 (1) Classified within operations and support, product development, sales and marketing, and general and administrative expenses in the consolidated statements of operations. (2) Lease costs do not include lease impairments due to restructuring. Refer to Note 17, Restructuring , for additional information. Supplemental disclosures of cash flow information related to operating lease liabilities were as follows (in millions): Year Ended December 31, 2020 2021 2022 Cash paid for operating leases $ 63 $ 92 $ 102 Net impact of non-cash changes to right-of-use assets related to modifications and reassessments of operating leases 103 18 (5) Lease term and discount rate were as follows: December 31, 2021 2022 Weighted-average remaining lease term (years) 7.2 6.0 Weighted-average discount rate 6.8 % 7.0 %
Maturities of Lease Liabilities	Maturities of lease liabilities (excluding short-term leases) were as follows as of December 31, 2022 (in millions): Year Ending December 31, Amount 2023 $ 81 2024 53 2025 87 2026 79 2027 31 Thereafter 128 Total lease payments 459 Less: Imputed interest (105) Present value of lease liabilities 354 Less: Current portion of lease liabilities (59) Total long-term lease liabilities $ 295

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The following table summarizes the Company’s outstanding debt (in millions, except percentages)): As of Effective Interest Rate As of Effective Interest Rate Convertible senior notes due March 2026 $ 2,000 0.2 % $ 2,000 0.2 % Less: Unamortized debt discount and debt issuance costs (17) (13) Total long-term debt $ 1,983 $ 1,987

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Stock-based Compensation Expense	The following table summarizes total stock-based compensation expense (in millions): Year Ended December 31, 2020 2021 2022 Operations and support $ 144 $ 49 $ 63 Product development 1,880 545 548 Sales and marketing 435 100 114 General and administrative 544 205 205 Stock-based compensation expense $ 3,003 $ 899 $ 930
Schedule of Fair Value Assumptions of Options Granted	The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option-pricing model using the range of assumptions in the following table: Year Ended December 31, 2020 2021 2022 Expected term (years) 5.1 - 8.0 8.0 6.1 Risk-free interest rate 0.5% - 1.5% 1.1% - 1.5% 0.3% - 2.2% Expected volatility 39.1% - 43.6% 44.2% - 44.9% 48.6% - 58.4% Expected dividend yield — — —
Summary of Option Activity	A summary of stock option and RSU activity under the Plans was as follows (in millions, except per share amounts): Outstanding Stock Options Outstanding Restricted Stock Units Shares Number of Weighted- Number of Weighted- Balances as of December 31, 2020 86 41 $ 12.48 48 $ 40.01 Granted (1) (10) 1 191.08 9 181.15 Shares withheld for taxes 1 — — (1) 66.99 Exercised/Vested — (18) 7.77 (15) 57.05 Canceled 4 — 56.69 (4) 64.32 Balances as of December 31, 2021 81 24 19.69 37 61.22 Granted (13) 1 161.70 12 135.09 Increase in shares available for grant 32 — — — — Shares withheld for taxes 5 — — (5) 80.98 Exercised/Vested — (3) 14.32 (7) 83.12 Canceled 3 — 95.93 (3) 101.58 Balances as of December 31, 2022 108 22 $ 23.41 34 $ 77.07 (1) There were no options or RSUs that were granted from the Assumed Equity Incentive Plan for the year ended December 31, 2021. Number of Weighted- Weighted- Aggregate Options outstanding as of December 31, 2021 24 $ 19.69 3.66 $ 3,555 Options exercisable as of December 31, 2021 21 13.28 2.90 3,207 Options outstanding as of December 31, 2022 22 23.41 2.78 1,432 Options exercisable as of December 31, 2022 20 17.01 2.27 1,380
Summary of RSU Activity	A summary of stock option and RSU activity under the Plans was as follows (in millions, except per share amounts): Outstanding Stock Options Outstanding Restricted Stock Units Shares Number of Weighted- Number of Weighted- Balances as of December 31, 2020 86 41 $ 12.48 48 $ 40.01 Granted (1) (10) 1 191.08 9 181.15 Shares withheld for taxes 1 — — (1) 66.99 Exercised/Vested — (18) 7.77 (15) 57.05 Canceled 4 — 56.69 (4) 64.32 Balances as of December 31, 2021 81 24 19.69 37 61.22 Granted (13) 1 161.70 12 135.09 Increase in shares available for grant 32 — — — — Shares withheld for taxes 5 — — (5) 80.98 Exercised/Vested — (3) 14.32 (7) 83.12 Canceled 3 — 95.93 (3) 101.58 Balances as of December 31, 2022 108 22 $ 23.41 34 $ 77.07 (1) There were no options or RSUs that were granted from the Assumed Equity Incentive Plan for the year ended December 31, 2021. Number of Weighted- Weighted- Aggregate Options outstanding as of December 31, 2021 24 $ 19.69 3.66 $ 3,555 Options exercisable as of December 31, 2021 21 13.28 2.90 3,207 Options outstanding as of December 31, 2022 22 23.41 2.78 1,432 Options exercisable as of December 31, 2022 20 17.01 2.27 1,380

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Commitments, Purchase Obligations and Other Commitments	The Company has commitments including purchase obligations for web-hosting services and other commitments for brand marketing. The following table presents these non-cancelable commitments and obligations as of December 31, 2022 (in millions): Total Less than 1 to 3 years 3 to 5 years More than Purchase obligations $ 1,068 $ 137 $ 517 $ 414 $ — Other commitments 232 37 76 79 40 Total $ 1,300 $ 174 $ 593 $ 493 $ 40

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) before Income Tax, Domestic and Foreign	The domestic and foreign components of income (loss) before income taxes were as follows (in millions): Year Ended December 31, 2020 2021 2022 Domestic $ (4,510) $ (390) $ 1,820 Foreign (172) 90 169 Income (loss) before income taxes $ (4,682) $ (300) $ 1,989
Schedule of Components of Income Tax Expense (Benefit)	The components of the provision for (benefit from) income taxes were as follows (in millions): Year Ended December 31, 2020 2021 2022 Current Federal $ (91) $ 5 $ 19 State (1) 2 10 Foreign 15 34 68 Total current provision for (benefit from) income taxes (77) 41 97 Deferred Federal — — — State — — — Foreign (20) 11 (1) Total deferred provision for (benefit from) income taxes (20) 11 (1) Total provision for (benefit from) income taxes $ (97) $ 52 $ 96
Schedule of Effective Income Tax Rate Reconciliation	The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate: Year Ended December 31, 2020 2021 2022 Expected income tax expense at federal statutory rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefits — (0.7) 0.4 Foreign tax rate differential (0.5) (5.1) 1.0 Stock-based compensation 7.1 282.4 (6.9) Deferred tax impacts of restructuring 6.5 (9.7) — Other statutorily non-deductible expenses (0.3) (1.1) 0.3 Non-deductible warrant revaluations (3.9) (20.4) (0.1) Research and development credits 4.3 51.0 (4.7) Uncertain tax positions—prior year positions (0.1) (3.1) 0.1 Uncertain tax positions—current year positions (0.2) (1.0) 0.8 US tax on foreign income, net of allowable credits and deductions — — 0.7 Foreign-derived intangible income deduction — — (1.9) Other 0.3 1.3 0.1 Change in valuation allowance (32.1) (331.9) (6.0) Effective tax rate 2.1 % (17.3) % 4.8 %
Schedule of Deferred Tax Assets and Liabilities	The components of deferred tax assets and liabilities consisted of the following (in millions): December 31, 2021 2022 Deferred tax assets: Net operating loss carryforwards $ 1,988 $ 1,539 Tax credit carryforwards 568 664 Accruals and reserves 106 123 Non-income tax accruals 65 68 Stock-based compensation 157 111 Operating lease liabilities 87 73 Intangible assets 210 188 Capitalized research and development costs — 413 Other 155 37 Gross deferred tax assets 3,336 3,216 Valuation allowance (3,264) (3,166) Total deferred tax assets 72 50 Deferred tax liabilities: Property and equipment basis differences (8) (9) Operating lease assets (49) (23) Other — (2) Total deferred tax liabilities (57) (34) Total net deferred tax assets $ 15 $ 16
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amount of the Company’s total gross unrecognized tax benefits was as follows (in millions): Year Ended December 31, 2020 2021 2022 Balance at beginning of year $ 337 $ 508 $ 597 Gross increases related to prior year tax positions 2 14 7 Gross decreases related to prior year tax positions (6) (2) (2) Gross increases related to current year tax positions 196 85 60 Reductions due to settlements with taxing authorities (21) (1) (7) Reduction due to lapse in statute of limitations — (7) (5) Balance at end of year $ 508 $ 597 $ 650

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Income (Loss) per Share of Common Stock	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the years indicated (in millions, except per share amounts): Year Ended December 31, 2020 2021 2022 Net income (loss) $ (4,585) $ (352) $ 1,893 Add: convertible notes interest expense, net of tax — — 4 Net income (loss) - diluted $ (4,585) $ (352) $ 1,897 Weighted-average shares in computing net income (loss) per share attributable to Class A and Class B common stockholders: Basic 284 616 637 Effect of dilutive securities — — 43 Diluted 284 616 680 Net income (loss) per share attributable to Class A and Class B common stockholders: Basic $ (16.12) $ (0.57) $ 2.97 Diluted $ (16.12) $ (0.57) $ 2.79
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Additionally, the following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in millions): Year Ended December 31, 2020 2021 2022 2026 Notes (1) — 11 — Warrants 8 8 — Escrow shares 1 — — Stock options 41 24 1 RSUs 36 26 9 ESPP 1 1 — Total 87 70 10

Geographic Information (Tables)

Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Revenue by Geography	The following table sets forth the breakdown of revenue by geography, determined based on the location of the Host’s listing (in millions): Year Ended December 31, 2020 2021 2022 United States $ 1,649 $ 2,996 $ 3,890 International (1) 1,729 2,996 4,509 Total revenue $ 3,378 $ 5,992 $ 8,399
Long-lived Assets by Geographic Areas	The following table sets forth the breakdown of long-lived assets based on geography (in millions): December 31, 2021 2022 United States $ 330 $ 203 Ireland 57 36 Other international 42 20 Total long-lived assets $ 429 $ 259

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, shares in Millions			12 Months Ended			32 Months Ended
	Dec. 14, 2020 USD ($) $ / shares shares	Oct. 26, 2020	Dec. 31, 2022 USD ($) segment reportingUnit shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2022 USD ($) shares	Nov. 30, 2020 shares	Dec. 31, 2019 shares
Subsidiary, Sale of Stock [Line Items]
Stock split, conversion ratio		0.5
Temporary equity outstanding (in shares) | shares			0	0	0	0		240
Stock-based compensation expense			$ 930,000,000	$ 899,000,000	$ 3,003,000,000
Shares withheld for tax withholding obligation (in shares) | shares	24.2
Taxes paid related to net share settlement of equity awards	$ 1,600,000,000		$ 607,000,000	177,000,000	1,527,000,000
Common stock authorized (in shares) | shares	4,700
Number of operating segments | segment			1
Number of reportable segments | segment			1
Number of reporting units | reportingUnit			1
Intangible asset impairment			$ 91,400,000	112,500,000	35,800,000
Impairment of long-lived assets			91,000,000	113,000,000	36,000,000
Restructuring charges			$ 89,100,000	112,800,000	151,400,000	$ 353,300,000
Number of days, long-term stay, minimum			28 days
Advance notice period required for cancellation			30 days
Bad debt expense			$ 49,000,000	27,300,000	107,700,000
Advertising expense			786,100,000	542,100,000	176,000,000
Reclassified from accumulated other comprehensive income (loss)			0	0	0
Cumulative translation gain			12,900,000	2,800,000		$ 12,900,000
Net realized and unrealized gains (losses) on foreign currency transactions and balances			$ 29,500,000	(5,100,000)	31,500,000
Award contractual term			10 years
Overstatement (understatement) in cash flows from operating activities			$ 3,430,000,000	2,313,000,000	(740,000,000)
Overstatement (understatement) in cash flows from financing activities			(689,000,000)	1,308,000,000	3,051,000,000
Domestic And Foreign Tax Authority
Subsidiary, Sale of Stock [Line Items]
Taxes paid related to net share settlement of equity awards					1,700,000,000
Intangible Assets
Subsidiary, Sale of Stock [Line Items]
Restructuring charges			$ 88,900,000
Revision of Prior Period, Adjustment
Subsidiary, Sale of Stock [Line Items]
Overstatement (understatement) in cash flows from operating activities				(123,000,000)	111,000,000
Overstatement (understatement) in cash flows from financing activities				123,000,000	$ (111,000,000)
Revision of Prior Period, Adjustment | Foreign Tax Authority
Subsidiary, Sale of Stock [Line Items]
Taxes paid related to net share settlement of equity awards				$ 123,000,000
Minimum
Subsidiary, Sale of Stock [Line Items]
Intangible assets, estimated useful life			1 year
Maximum
Subsidiary, Sale of Stock [Line Items]
Intangible assets, estimated useful life			10 years
Performance Shares
Subsidiary, Sale of Stock [Line Items]
Stock-based compensation expense	$ 2,800,000,000
Common Class A
Subsidiary, Sale of Stock [Line Items]
Sale of stock, aggregate net proceeds	$ 3,700,000,000
Common stock authorized (in shares) | shares	2,000		2,000			2,000
Common stock issued (in shares) | shares			408			408
Common Class A | Discounts And Commissions
Subsidiary, Sale of Stock [Line Items]
Stock issuance costs	$ 79,300,000
Common Class A | Offering Expense
Subsidiary, Sale of Stock [Line Items]
Stock issuance costs	$ 9,800,000
Common Class A | IPO
Subsidiary, Sale of Stock [Line Items]
Sale of stock (in shares) | shares	50
Sale of stock (in USD per share) | $ / shares	$ 68
Common Class A | Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Sale of stock (in shares) | shares	5
Sale of stock (in USD per share) | $ / shares	$ 68
Redeemable convertible preferred stock
Subsidiary, Sale of Stock [Line Items]
Temporary equity outstanding (in shares) | shares	239.6
Common Class B
Subsidiary, Sale of Stock [Line Items]
Conversion of convertible securities (in shares) | shares	240.9
Common stock authorized (in shares) | shares	710		710			710
Common stock issued (in shares) | shares			223			223
Series C redeemable convertible preferred stock
Subsidiary, Sale of Stock [Line Items]
Conversion of convertible securities (in shares) | shares	1.3
Common Class C
Subsidiary, Sale of Stock [Line Items]
Common stock authorized (in shares) | shares	2,000		2,000			2,000
Common stock issued (in shares) | shares			0			0
Common Class H
Subsidiary, Sale of Stock [Line Items]
Common stock authorized (in shares) | shares	26		26			26
Common stock issued (in shares) | shares			9			9	9.2

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Computer software and capitalized internal-use software | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	1 year 6 months
Computer software and capitalized internal-use software | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	25 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	40 years

Supplemental Financial Statem_3

Supplemental Financial Statement Information - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 7,378	$ 6,067
Cash and cash equivalents included in funds receivable and amounts held on behalf of customers	4,708	3,645
Restricted cash included in prepaids and other current assets	17	15
Total cash, cash equivalents, and restricted cash presented in the consolidated statements of cash flows	$ 12,103	$ 9,727	$ 7,668	$ 5,143

Supplemental Financial Statem_4

Supplemental Financial Statement Information - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Indirect taxes payable	$ 418	$ 310
Compensation and employee benefits	380	416
Indirect tax reserves	206	183
Gift card liability	141	98
Other	672	552
Total accrued expenses and other current liabilities	$ 1,817	$ 1,559

Supplemental Financial Statem_5

Supplemental Financial Statement Information - Payments to Customers (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total payments made to customers	$ 432	$ 272	$ 524
Reductions to revenue
Disaggregation of Revenue [Line Items]
Total payments made to customers	284	156	384
Charges to operations and support
Disaggregation of Revenue [Line Items]
Total payments made to customers	88	69	83
Charges to sales and marketing expense
Disaggregation of Revenue [Line Items]
Total payments made to customers	$ 60	$ 47	$ 57

Investments - Schedule of Debt

Investments - Schedule of Debt Securities Available-for-Sale (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Certificates of deposit, Amortized Cost	$ 7,378	$ 6,067
Total, Amortized Cost	2,698	2,505
Gross Unrealized Gains	1	0
Gross Unrealized Losses	(19)	(3)
Total, Estimated Fair Value	2,680	2,502
Cash and Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Total, Estimated Fair Value	453	237
Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Total, Estimated Fair Value	2,223	2,255
Other Assets, Noncurrent
Debt Securities, Available-for-sale [Line Items]
Total, Estimated Fair Value	4	10
Government bonds
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Amortized Cost	115	1
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Available-for-sale debt securities, Total Estimated Fair Value	115	1
Government bonds | Cash and Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	32	0
Government bonds | Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	83	1
Government bonds | Other Assets, Noncurrent
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	0	0
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Amortized Cost	901	1,157
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Available-for-sale debt securities, Total Estimated Fair Value	901	1,157
Commercial paper | Cash and Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	327	164
Commercial paper | Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	574	993
Commercial paper | Other Assets, Noncurrent
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	0	0
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Amortized Cost	1,046	918
Gross Unrealized Gains	1	0
Gross Unrealized Losses	(16)	(3)
Available-for-sale debt securities, Total Estimated Fair Value	1,031	915
Corporate debt securities | Cash and Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	68	42
Corporate debt securities | Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	959	863
Corporate debt securities | Other Assets, Noncurrent
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	4	10
Mortgage-backed and asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Amortized Cost	37	34
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(3)	0
Available-for-sale debt securities, Total Estimated Fair Value	34	34
Mortgage-backed and asset-backed securities | Cash and Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	0	0
Mortgage-backed and asset-backed securities | Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	34	34
Mortgage-backed and asset-backed securities | Other Assets, Noncurrent
Debt Securities, Available-for-sale [Line Items]
Available-for-sale debt securities, Total Estimated Fair Value	0	0
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Certificates of deposit, Amortized Cost	599	395
Certificate of deposit, Total Estimated Fair Value	599	395
Certificates of deposit | Cash and Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Certificate of deposit, Total Estimated Fair Value	26	31
Certificates of deposit | Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Certificate of deposit, Total Estimated Fair Value	573	364
Certificates of deposit | Other Assets, Noncurrent
Debt Securities, Available-for-sale [Line Items]
Certificate of deposit, Total Estimated Fair Value	$ 0	$ 0

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Allowance for credit loss, available-for-sale debt securities	$ 0	$ 0
Debt securities in an unrealized loss position	748,300,000	801,500,000
Debt securities, unrealized loss	19,400,000	3,500,000
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss	92,300,000	0
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer	12,900,000
Unrealized gain (loss) on marketable equity securities	0	0	$ (21,700,000)
Realized loss on marketable equity securities		13,400,000
Equity securities without readily determinable fair value, carrying value	75,000,000	75,000,000
Impairment of investments	0	3,100,000	53,100,000
Cumulative impairment of investments	56,200,000	56,200,000
Carrying value of equity method investments	13,800,000	17,400,000
Loss from equity method investments	5,400,000	3,500,000	8,200,000
Impairment in equity method investments	$ 0	$ 0	$ 29,000,000

Investments - Schedule of Contr

Investments - Schedule of Contractual Maturities of Available-for-Sale Debt Securities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Amortized Cost
Due within one year	$ 2,238
Due in one year to five years	435
Due within five to ten years	22
Due beyond ten years	3
Total, Amortized Cost	2,698	$ 2,505
Estimated Fair Value
Due within one year	2,236
Due in one year to five years	422
Due within five to ten years	19
Due beyond ten years	3
Total, Estimated Fair Value	$ 2,680	$ 2,502

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Government bonds
Assets, Fair Value Disclosure [Abstract]
Marketable securities	$ 115	$ 1
Government bonds | Other assets, noncurrent
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Corporate debt securities
Assets, Fair Value Disclosure [Abstract]
Marketable securities	1,031	915
Corporate debt securities | Other assets, noncurrent
Assets, Fair Value Disclosure [Abstract]
Marketable securities	4	10
Mortgage-backed and asset-backed securities
Assets, Fair Value Disclosure [Abstract]
Marketable securities	34	34
Mortgage-backed and asset-backed securities | Other assets, noncurrent
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Certificates of deposit
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	599	395
Certificates of deposit | Other assets, noncurrent
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Fair value, recurring
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	2,779	2,160
Marketable securities		2,255
Marketable securities	2,224
Total assets at fair value	5,522	4,917
Liabilities, Fair Value Disclosure [Abstract]
Total liabilities at fair value	31	10
Fair value, recurring | Foreign exchange derivative assets
Liabilities, Fair Value Disclosure [Abstract]
Derivative liabilities	31	10
Fair value, recurring | Prepaids and other current assets | Foreign exchange derivative assets
Assets, Fair Value Disclosure [Abstract]
Other assets	14	26
Fair value, recurring | Certificates of deposit
Assets, Fair Value Disclosure [Abstract]
Marketable securities	573	364
Fair value, recurring | Government bonds
Assets, Fair Value Disclosure [Abstract]
Marketable securities	83	1
Fair value, recurring | Commercial paper
Assets, Fair Value Disclosure [Abstract]
Marketable securities	574	993
Fair value, recurring | Corporate debt securities
Assets, Fair Value Disclosure [Abstract]
Marketable securities	959	863
Fair value, recurring | Corporate debt securities | Other assets, noncurrent
Assets, Fair Value Disclosure [Abstract]
Other assets	4	10
Fair value, recurring | Mortgage-backed and asset-backed securities
Assets, Fair Value Disclosure [Abstract]
Marketable securities	34	34
Fair value, recurring | Marketable equity securities
Assets, Fair Value Disclosure [Abstract]
Marketable equity securities	1
Fair value, recurring | Money market funds
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	2,326	1,923
Funds receivable and amounts held on behalf of customers	501	466
Fair value, recurring | Certificates of deposit
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	26	31
Fair value, recurring | Government bonds
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	32
Fair value, recurring | Commercial paper
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	327	164
Fair value, recurring | Corporate debt securities
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	68	42
Fair value, recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	2,352	1,954
Marketable securities		364
Marketable securities	574
Total assets at fair value	3,427	2,784
Liabilities, Fair Value Disclosure [Abstract]
Total liabilities at fair value	0	0
Fair value, recurring | Level 1 | Foreign exchange derivative assets
Liabilities, Fair Value Disclosure [Abstract]
Derivative liabilities	0	0
Fair value, recurring | Level 1 | Prepaids and other current assets | Foreign exchange derivative assets
Assets, Fair Value Disclosure [Abstract]
Other assets	0	0
Fair value, recurring | Level 1 | Certificates of deposit
Assets, Fair Value Disclosure [Abstract]
Marketable securities	573	364
Fair value, recurring | Level 1 | Government bonds
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Fair value, recurring | Level 1 | Commercial paper
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Fair value, recurring | Level 1 | Corporate debt securities
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Fair value, recurring | Level 1 | Corporate debt securities | Other assets, noncurrent
Assets, Fair Value Disclosure [Abstract]
Other assets	0	0
Fair value, recurring | Level 1 | Mortgage-backed and asset-backed securities
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Fair value, recurring | Level 1 | Marketable equity securities
Assets, Fair Value Disclosure [Abstract]
Marketable equity securities	1
Fair value, recurring | Level 1 | Money market funds
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	2,326	1,923
Funds receivable and amounts held on behalf of customers	501	466
Fair value, recurring | Level 1 | Certificates of deposit
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	26	31
Fair value, recurring | Level 1 | Government bonds
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0
Fair value, recurring | Level 1 | Commercial paper
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Fair value, recurring | Level 1 | Corporate debt securities
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Fair value, recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	427	206
Marketable securities		1,891
Marketable securities	1,650
Total assets at fair value	2,091	2,123
Liabilities, Fair Value Disclosure [Abstract]
Total liabilities at fair value	31	10
Fair value, recurring | Level 2 | Foreign exchange derivative assets
Liabilities, Fair Value Disclosure [Abstract]
Derivative liabilities	31	10
Fair value, recurring | Level 2 | Prepaids and other current assets | Foreign exchange derivative assets
Assets, Fair Value Disclosure [Abstract]
Other assets	14	26
Fair value, recurring | Level 2 | Certificates of deposit
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Fair value, recurring | Level 2 | Government bonds
Assets, Fair Value Disclosure [Abstract]
Marketable securities	83	1
Fair value, recurring | Level 2 | Commercial paper
Assets, Fair Value Disclosure [Abstract]
Marketable securities	574	993
Fair value, recurring | Level 2 | Corporate debt securities
Assets, Fair Value Disclosure [Abstract]
Marketable securities	959	863
Fair value, recurring | Level 2 | Corporate debt securities | Other assets, noncurrent
Assets, Fair Value Disclosure [Abstract]
Other assets	0	0
Fair value, recurring | Level 2 | Mortgage-backed and asset-backed securities
Assets, Fair Value Disclosure [Abstract]
Marketable securities	34	34
Fair value, recurring | Level 2 | Marketable equity securities
Assets, Fair Value Disclosure [Abstract]
Marketable equity securities	0
Fair value, recurring | Level 2 | Money market funds
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Funds receivable and amounts held on behalf of customers	0	0
Fair value, recurring | Level 2 | Certificates of deposit
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Fair value, recurring | Level 2 | Government bonds
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	32
Fair value, recurring | Level 2 | Commercial paper
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	327	164
Fair value, recurring | Level 2 | Corporate debt securities
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	68	42
Fair value, recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Marketable securities		0
Marketable securities	0
Total assets at fair value	4	10
Liabilities, Fair Value Disclosure [Abstract]
Total liabilities at fair value	0	0
Fair value, recurring | Level 3 | Foreign exchange derivative assets
Liabilities, Fair Value Disclosure [Abstract]
Derivative liabilities	0	0
Fair value, recurring | Level 3 | Prepaids and other current assets | Foreign exchange derivative assets
Assets, Fair Value Disclosure [Abstract]
Other assets	0	0
Fair value, recurring | Level 3 | Certificates of deposit
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Fair value, recurring | Level 3 | Government bonds
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Fair value, recurring | Level 3 | Commercial paper
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Fair value, recurring | Level 3 | Corporate debt securities
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Fair value, recurring | Level 3 | Corporate debt securities | Other assets, noncurrent
Assets, Fair Value Disclosure [Abstract]
Other assets	4	10
Fair value, recurring | Level 3 | Mortgage-backed and asset-backed securities
Assets, Fair Value Disclosure [Abstract]
Marketable securities	0	0
Fair value, recurring | Level 3 | Marketable equity securities
Assets, Fair Value Disclosure [Abstract]
Marketable equity securities	0
Fair value, recurring | Level 3 | Money market funds
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Funds receivable and amounts held on behalf of customers	0	0
Fair value, recurring | Level 3 | Certificates of deposit
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Fair value, recurring | Level 3 | Government bonds
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0
Fair value, recurring | Level 3 | Commercial paper
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Fair value, recurring | Level 3 | Corporate debt securities
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	$ 0	$ 0

Fair Value Measurements and F_4

Fair Value Measurements and Financial Instruments - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis, Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Derivative Warrant Liability
Reclassifications to equity		$ (1,277)
Other Assets, Noncurrent
Other Assets, Noncurrent
Balance, beginning of year	$ 10	11
Included in earnings	0	0
Included in other comprehensive income (loss)	(6)	(1)
Balance, end of year	4	10
Changes in unrealized gains or losses included in other comprehensive income (loss) related to investments held at the reporting date	(6)	(1)
Warrant
Derivative Warrant Liability
Balance, beginning of year	$ 0	985
Reclassifications to equity		(1,277)
Included in earnings		292
Included in other comprehensive income (loss)		0
Balance, end of year		0
Changes in unrealized gains or losses included in other comprehensive income (loss) related to investments held at the reporting date		$ 0

Fair Value Measurements and F_5

Fair Value Measurements and Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of warrant liability		$ 0	$ 292	$ 869
Reclassification of derivative warrant liability to equity			1,277
Potential effects of rights of set-off associated with derivative asset contracts		10.7	10.3
Potential effects of rights of set-off associated with derivative liabilities contracts		10.7	10.3
Derivative asset, fair value after offset		3.2	15.6
Derivative liability, fair value after offset		20.5
Foreign exchange derivative assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gain on foreign exchange derivative assets and liabilities		92	19.3	(21.7)
Net unrealized gain (loss) on foreign exchange derivative assets and liabilities		(32.9)	35.4	$ (24.6)
Foreign exchange derivative assets | Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange derivative assets		14	25.9
Derivative liabilities		31.2	10.3
Aggregate notional amount of foreign exchange derivative assets and liabilities		$ 2,400	$ 2,400
Class A Common Stock Warrants | Second lien loan due July 2025 | Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of warrant liability	$ 292
Reclassification of derivative warrant liability to equity	$ 1,300

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Schedule of Acquired Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 77	$ 113
Accumulated Amortization	(43)	(61)
Net Carrying Value	34	52
Listing relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	35	43
Accumulated Amortization	(13)	(16)
Net Carrying Value	22	27
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	33	33
Accumulated Amortization	(25)	(18)
Net Carrying Value	8	15
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0	23
Accumulated Amortization	0	(21)
Net Carrying Value	0	2
Customer contacts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0	4
Accumulated Amortization	0	(4)
Net Carrying Value	0	0
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	9	10
Accumulated Amortization	(5)	(2)
Net Carrying Value	$ 4	$ 8

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 19.1	$ 23.7	$ 36.2

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Estimated Amortization Expense for Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 11
2024	6
2025	5
2026	4
2027	4
Thereafter	4
Net Carrying Value	$ 34	$ 52

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Changes in the carrying amount of goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 653	$ 656
Foreign currency translation adjustments	(3)	(3)
Goodwill, ending balance	$ 650	$ 653

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation and amortization	$ (312)	$ (379)
Total property and equipment, net	121	157
Depreciable Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	433	536
Computer software and capitalized internal-use software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	164	175
Total property and equipment, net	8.6	21
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	152	214
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	32	57
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	23	43
Buildings and land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	17	17
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 45	$ 30

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 42.6	$ 85.6	$ 67.2
Property and equipment, net	121	157
Computer software and capitalized internal-use software
Property, Plant and Equipment [Line Items]
Amortization	27.6	66.3	$ 22.5
Property and equipment, net	$ 8.6	$ 21

Leases - Narrative (Details)

Leases - Narrative (Details)	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease, renewal term	10 years
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	16 years

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 77	$ 83	$ 91
Short-term lease cost	2	3	1
Variable lease cost	17	14	12
Lease cost, net	$ 96	$ 100	$ 104

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Cash paid for operating leases	$ 102	$ 92	$ 63
Net impact of non-cash changes to right-of-use assets related to modifications and reassessments of operating leases	$ (5)	$ 18	$ 103

Leases - Summary of Lease Term

Leases - Summary of Lease Term and Discount Rate (Details)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted-average remaining lease term (years)	6 years	7 years 2 months 12 days
Weighted-average discount rate	7%	6.80%

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	$ 81
2024	53
2025	87
2026	79
2027	31
Thereafter	128
Total lease payments	459
Less: Imputed interest	(105)
Present value of lease liabilities	354
Less: Current portion of lease liabilities	(59)	$ (63)
Total long-term lease liabilities	$ 295	$ 372

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Less: Unamortized debt discount and debt issuance costs	$ (13)	$ (17)
Total long-term debt	1,987	1,983
Convertible senior notes due March 2026 | Senior Notes
Debt Instrument [Line Items]
Total debt	$ 2,000	$ 2,000
Effective Interest Rate	0.20%	0.20%

Debt - Narrative (Details)

Debt - Narrative (Details)				1 Months Ended			3 Months Ended	12 Months Ended
	Oct. 31, 2022 USD ($)	Mar. 08, 2021 USD ($) $ / shares	Mar. 03, 2021 USD ($) $ / shares	Mar. 31, 2021 USD ($)	Nov. 30, 2020 USD ($)	Apr. 30, 2020 USD ($) $ / shares shares	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Capped calls, transaction costs			$ 100,200,000
Principal repayment of long-term debt								$ 0	$ 1,995,000,000	$ 5,000,000
Loss from extinguishment of debt								0	377,000,000	0
Early redemption premiums								0	213,000,000	0
Change in fair value of warrant liability								0	292,000,000	869,000,000
Reclassification of derivative warrant liability to equity									1,277,000,000
Common Class A
Debt Instrument [Line Items]
Capped call, initial cap price (in USD per share) | $ / shares			$ 360.80
Premium of reported share price			100%
Share price (in USD per share) | $ / shares			$ 180.40
Senior Notes Due 2026 | Common Class A
Debt Instrument [Line Items]
Convertible debt, conversion ratio		0.0034645
Convertible debt, conversion price (in USD per share) | $ / shares		$ 288.64
2020 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term					5 years
Initial borrowing capacity					$ 500,000,000
Commitment fee percentage					0.15%
2022 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term	5 years
Initial borrowing capacity	$ 1,000,000,000
Borrowings outstanding, amount drawn								0
2022 Credit Facility | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest Rate Scenario One
Debt Instrument [Line Items]
Variable rate floor	0%
2022 Credit Facility | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest Rate Scenario Two
Debt Instrument [Line Items]
Basis spread on variable rate	1%
2022 Credit Facility | Revolving Credit Facility | Fed Funds Effective Rate Overnight Index Swap Rate | Interest Rate Scenario Two
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
2022 Credit Facility | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.10%
2022 Credit Facility | Revolving Credit Facility | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest Rate Scenario One
Debt Instrument [Line Items]
Basis spread on variable rate	1%
2022 Credit Facility | Revolving Credit Facility | Minimum | Base Rate | Interest Rate Scenario Two
Debt Instrument [Line Items]
Basis spread on variable rate	0%
2022 Credit Facility | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.20%
2022 Credit Facility | Revolving Credit Facility | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest Rate Scenario One
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
2022 Credit Facility | Revolving Credit Facility | Maximum | Base Rate | Interest Rate Scenario Two
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Convertible Debt | Senior Notes Due 2026
Debt Instrument [Line Items]
Aggregate principle amount		$ 2,000,000,000
Interest rate		0%
Proceeds from debt issuance, net		$ 1,979,200,000
Redemption price (percent)		100%
Debt issuance costs		$ 20,800,000
Interest expense								4,200,000	3,400,000
Debt, fair value								1,700,000,000
Secured Debt
Debt Instrument [Line Items]
Principal repayment of long-term debt				$ 1,995,000,000
Loss from extinguishment of debt				377,200,000
Write-off of unamortized debt discount and deferred debt issuance costs				164,300,000
Secured Debt | Redemption Premiums
Debt Instrument [Line Items]
Early redemption premiums				212,900,000
Secured Debt | Third Party Costs
Debt Instrument [Line Items]
Early redemption premiums				$ 100,000
Secured Debt | First lien loan due April 2025
Debt Instrument [Line Items]
Aggregate principle amount						$ 1,000,000,000
Proceeds from debt issuance, net						961,400,000
Debt issuance costs						$ 38,600,000
Interest expense									41,300,000
Periodic payment, percentage of principal amount						0.25%
Secured Debt | Second lien loan due July 2025
Debt Instrument [Line Items]
Aggregate principle amount						$ 1,000,000,000
Proceeds from debt issuance, net						967,500,000
Debt issuance costs						$ 32,500,000
Interest expense									41,300,000
Secured Debt | Second lien loan due July 2025 | Class A Common Stock Warrants
Debt Instrument [Line Items]
Shares called by warrants (in shares) | shares						7,934,794
Exercise price of warrants (in USD per share) | $ / shares						$ 28.355
Warrants, fair value						$ 116,600,000				$ 985,200,000
Change in fair value of warrant liability							$ 292,000,000
Reclassification of derivative warrant liability to equity							$ 1,300,000,000
Line of Credit | 2020 Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 200,000,000
Borrowings outstanding									$ 15,900,000
Line of Credit | 2022 Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 200,000,000
Borrowings outstanding								$ 28,500,000

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) vote $ / shares shares	Aug. 02, 2022 USD ($)	Dec. 14, 2020 shares	Apr. 30, 2020 $ / shares shares
Class of Stock [Line Items]
Common stock authorized (in shares)			4,700,000,000
Common stock, par value (in USD per share) | $ / shares	$ 0.0001
Stock repurchase program, authorized amount | $		$ 2,000
Stock repurchased and retired (in shares)	13,800,000
Stock repurchased and retired | $	$ 1,500
Remaining authorized repurchase amount | $	$ 500
Class A Common Stock Warrants | Second lien loan due July 2025 | Secured Debt
Class of Stock [Line Items]
Shares called by warrants (in shares)				7,934,794
Exercise price of warrants (in USD per share) | $ / shares				$ 28.355
Common Class A
Class of Stock [Line Items]
Common stock authorized (in shares)	2,000,000,000		2,000,000,000
Common stock, par value (in USD per share) | $ / shares	$ 0.0001
Votes per common share | vote	1
Common Class B
Class of Stock [Line Items]
Common stock authorized (in shares)	710,000,000		710,000,000
Common stock, par value (in USD per share) | $ / shares	$ 0.0001
Votes per common share | vote	20
Terms of conversion, percentage of common stockholders consenting to conversion, minimum	80%
Terms of conversion, period after IPO	20 years
Common Class C
Class of Stock [Line Items]
Common stock authorized (in shares)	2,000,000,000		2,000,000,000
Votes per common share | vote	0
Common Class H
Class of Stock [Line Items]
Common stock authorized (in shares)	26,000,000		26,000,000
Votes per common share | vote	0

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 930	$ 899	$ 3,003
Operations and support
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	63	49	144
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	548	545	1,880
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	114	100	435
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 205	$ 205	$ 544

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Dec. 14, 2020	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Class of Stock [Line Items]
Stock-based compensation expense			$ 930	$ 899	$ 3,003
Stock-based compensation arrangement, tax benefit			$ 19	$ 35.6	$ 39.9
Options exercisable (in shares)			20,000,000	21,000,000
Options excisable (in USD per share)			$ 17.01	$ 13.28
Weighted-average fair value of options granted (in USD per share)			$ 79.75	$ 96.50	$ 15.42
Aggregate intrinsic value of options exercised			$ 326	$ 2,824.9	$ 476
Grant date fair value of options vested			45	45.9	44.4
Unrecognized compensation cost related to stock option awards granted			$ 78
Weighted-average period expected to recognize compensation expense			2 years 6 months 29 days
Proceeds from the issuance of common stock under employee stock purchase plan			$ 48	$ 51	$ 0
2018 Plan
Class of Stock [Line Items]
Additional shares authorized (in shares)						13,200,000
2018 Plan | Common Class B
Class of Stock [Line Items]
Shares authorized (in shares)						50,000,000
Assumed Equity Incentive Plan | Common Class A
Class of Stock [Line Items]
Options exercisable (in shares)				98,093
Options excisable (in USD per share)				$ 22.67
2020 Plan | Common Class A
Class of Stock [Line Items]
Shares authorized (in shares)		62,069,613			62,069,613
Annual increase in number of shares authorized (percent)					5%
Maximum shares issuable (in shares)					371,212,920
Performance Shares
Class of Stock [Line Items]
Stock-based compensation expense	$ 2,800
RSAs
Class of Stock [Line Items]
Vesting term			4 years
Issued and outstanding (in shares)		700,000	400,000	600,000	700,000
Unvested RSAs, weighted-average grant-date fair value (in usd per share)		$ 62.33	$ 62.33	$ 62.32	$ 62.33
RSAs | Assumed Equity Incentive Plan
Class of Stock [Line Items]
Issued (in shares)				3,512
RSUs
Class of Stock [Line Items]
Issued (in shares)			12,000,000	9,000,000
Vesting term			4 years
Issued and outstanding (in shares)		48,000,000	34,000,000	37,000,000	48,000,000
Unvested RSAs, weighted-average grant-date fair value (in usd per share)		$ 40.01	$ 77.07	$ 61.22	$ 40.01
Employee Stock Purchase Plan | 2020 Employee Stock Purchase Plan
Class of Stock [Line Items]
Stock-based compensation expense			$ 32.6	$ 105.9
Maximum shares issuable (in shares)		89,800,000
Shares available for future issuance (in shares)			8,900,000	3,000,000
Proceeds from the issuance of common stock under employee stock purchase plan			$ 47.5	$ 50.6
Employee Stock Purchase Plan | 2020 Employee Stock Purchase Plan | Common Class A
Class of Stock [Line Items]
Shares authorized (in shares)		4,000,000			4,000,000
Annual increase in number of shares authorized (percent)		1%
ESPP shares purchased during period (in shares)			500,000	900,000
Average price of ESPP shares purchased (in USD per share)			$ 95.90	$ 59.11

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	6 years 1 month 6 days	8 years
Risk-free interest rate, minimum	0.30%	1.10%	0.50%
Risk-free interest rate, maximum	2.20%	1.50%	1.50%
Expected volatility, minimum	48.60%	44.20%	39.10%
Expected volatility, maximum	58.40%	44.90%	43.60%
Expected dividend yield	0%	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)			5 years 1 month 6 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)			8 years

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Option and RSU Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Shares Available for Grant
Balances at beginning of period (in shares)	81	86
Granted (in shares)	(13)	(10)
Increase in shares available for grant (in shares)	32
Shares withheld for taxes (in shares)	5	1
Exercised/Vested (in shares)	0	0
Canceled (in shares)	3	4
Balances at end of period (in shares)	108	81
Number of Shares
Balances at beginning of period (in shares)	24	41
Granted (in shares)	1	1
Increase in shares available for grant (in shares)	0
Shares withheld for taxes (in shares)	0	0
Exercised/Vested (in shares)	(3)	(18)
Canceled (in shares)	0	0
Balances at end of period (in shares)	22	24
Weighted- Average Exercise Price
Balances at beginning of period (in USD per share)	$ 19.69	$ 12.48
Granted (in USD per share)	161.70	191.08
Increase in shares available for grant (in USD per share)	0
Shares withheld for taxes (in USD per share)	0	0
Exercised/Vested (in USD per share)	14.32	7.77
Canceled (in USD per share)	95.93	56.69
Balances at end of period (in USD per share)	$ 23.41	$ 19.69
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options outstanding (in shares)	22	24
Options exercisable (in shares)	20	21
Options outstanding (in USD per share)	$ 23.41	$ 19.69
Options excisable (in USD per share)	$ 17.01	$ 13.28
Options outstanding, weighted-average remaining contractual life (in years)	2 years 9 months 10 days	3 years 7 months 28 days
Options exercisable, weighted-average remaining contractual life (in years)	2 years 3 months 7 days	2 years 10 months 24 days
Options outstanding, aggregate intrinsic value	$ 1,432	$ 3,555
Options exercisable, aggregate intrinsic value	$ 1,380	$ 3,207
RSUs
Number of Shares
Balances at beginning of period (in shares)	37	48
Granted (in shares)	12	9
Increase in shares available for grant (in shares)	0
Shares withheld for taxes (in shares)	(5)	(1)
Exercised/Vested (in shares)	(7)	(15)
Canceled (in shares)	(3)	(4)
Balances at end of period (in shares)	34	37
Weighted- Average Grant Date Fair Value
Balances at beginning of period (in usd per share)	$ 61.22	$ 40.01
Granted (in USD per share)	135.09	181.15
Increase in shares available for grant (in USD per share)	0
Shares withheld for taxes (in USD per share)	80.98	66.99
Exercised/Vested (in USD per share)	83.12	57.05
Canceled (in USD per share)	101.58	64.32
Balances at end of period (in usd per share)	$ 77.07	$ 61.22

Commitments and Contingencies -

Commitments and Contingencies - Schedule of commitments including purchase obligations and other commitments (Details) $ in Millions	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligations, Total	$ 1,068
Purchase obligations, Less than 1 year	137
Purchase obligations, 1 to 3 years	517
Purchase obligations, 3 to 5 years	414
Purchase obligations, More than 5 years	0
Other Commitments, Total	232
Other commitments, Less than 1 year	37
Other commitments, 1 to 3 years	76
Other commitments, 3 to 5 years	79
Other commitments, More than 5 years	40
Purchase obligations and other commitments	1,300
Purchase obligations and other commitments, Less than 1 year	174
Purchase obligations and other commitments, 1 to 3 years	593
Purchase obligations and other commitments, 3 to 5 years	493
Purchase obligations and other commitments, More than 5 years	$ 40

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) jurisdiction	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)
Other Commitments [Line Items]
Commitment to spend amount	$ 941.7
Commitments to hosts, extenuating circumstances policy				$ 250
Commitments, extenuating circumstances reserve remaining balance	33.9
Amount receivable, eligible hosts, extenuating circumstances policy (in percentage)				0.25
Extenuating circumstances policy, consideration paid to customers	$ 2.9	$ 5.6	$ 205.1
Number of jurisdictions where Company has lodging tax obligations | jurisdiction	32,000
Obligation to remit lodging taxes	$ 250.6	180.8
Accrued obligations on lodging taxes	70.6	57.3
Income tax expense (benefit)	96	52	(97)
Host guarantee program, maximum	3
Primary coverage, host protection insurance program	1
Host protection insurance program, maximum per listing location	1
Hosts' withholding tax obligations
Other Commitments [Line Items]
Income tax expense (benefit)	10.3	(10.1)	$ 16.3
Tax liabilities	134.6	124.2
Employee benefits and employment taxes
Other Commitments [Line Items]
Tax liabilities	$ 32.6	$ 33.6
Minimum
Other Commitments [Line Items]
Remitting period for lodging taxes	30 days
Loss contingency, estimate of possible loss	$ 250
Maximum
Other Commitments [Line Items]
Remitting period for lodging taxes	90 days
Loss contingency, estimate of possible loss	$ 280

Income Taxes - Domestic and For

Income Taxes - Domestic and Foreign Components of Income (Loss) before Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ 1,820	$ (390)	$ (4,510)
Foreign	169	90	(172)
Income (loss) before income taxes	$ 1,989	$ (300)	$ (4,682)

Income Taxes - Components of th

Income Taxes - Components of the Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current
Federal	$ 19	$ 5	$ (91)
State	10	2	(1)
Foreign	68	34	15
Total current provision for (benefit from) income taxes	97	41	(77)
Deferred
Federal	0	0	0
State	0	0	0
Foreign	(1)	11	(20)
Total deferred provision for (benefit from) income taxes	(1)	11	(20)
Total provision for (benefit from) income taxes	$ 96	$ 52	$ (97)

Income Taxes - Effective Tax Ra

Income Taxes - Effective Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Expected income tax expense at federal statutory rate	21%	21%	21%
State taxes, net of federal benefits	0.40%	(0.70%)	0%
Foreign tax rate differential	1%	(5.10%)	(0.50%)
Stock-based compensation	(6.90%)	282.40%	7.10%
Deferred tax impacts of restructuring	0%	(9.70%)	6.50%
Other statutorily non-deductible expenses	0.30%	(1.10%)	(0.30%)
Non-deductible warrant revaluations	(0.10%)	(20.40%)	(3.90%)
Research and development credits	(4.70%)	51%	4.30%
Uncertain tax positions—prior year positions	0.10%	(3.10%)	(0.10%)
Uncertain tax positions—current year positions	0.80%	(1.00%)	(0.20%)
US tax on foreign income, net of allowable credits and deductions	0.70%	0%	0%
Foreign-derived intangible income deduction	(1.90%)	0%	0%
Other	0.10%	1.30%	0.30%
Change in valuation allowance	(6.00%)	(331.90%)	(32.10%)
Effective tax rate	4.80%	(17.30%)	2.10%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
benefit related to carryback of net operating loss		$ 95.6
Federal net operating loss carryforwards				$ 6,800	$ 8,800
Federal research and development tax credit carryforwards				578.5	491.2
State net operating loss carryforwards				4,800	5,500
State research and development and enterprise zone tax credit carryfowards				402.1	338.1
Unrecognized tax benefits that would impact effective tax rate				209.6
Unrecognized tax benefits, income tax penalties and interest accrued				$ 65.8	$ 58.7
Tax adjustments, settlements, and unusual provisions			$ 196.4
Income tax expense, uncertain tax positions			$ 26.6
Internal Revenue Service (IRS)
Operating Loss Carryforwards [Line Items]
Income tax examination, additional income tax expense and cash liability	$ 1,300
Income tax examination, amount of estimate of possible loss which exceeds reserves	$ 1,000

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 1,539	$ 1,988
Tax credit carryforwards	664	568
Accruals and reserves	123	106
Non-income tax accruals	68	65
Stock-based compensation	111	157
Operating lease liabilities	73	87
Intangible assets	188	210
Capitalized research and development costs	413	0
Other	37	155
Gross deferred tax assets	3,216	3,336
Valuation allowance	(3,166)	(3,264)
Total deferred tax assets	50	72
Deferred tax liabilities:
Property and equipment basis differences	(9)	(8)
Operating lease assets	(23)	(49)
Other	(2)	0
Total deferred tax liabilities	(34)	(57)
Total net deferred tax assets	$ 16	$ 15

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 597	$ 508	$ 337
Gross increases related to prior year tax positions	7	14	2
Gross decreases related to prior year tax positions	(2)	(2)	(6)
Gross increases related to current year tax positions	60	85	196
Reductions due to settlements with taxing authorities	(7)	(1)	(21)
Reduction due to lapse in statute of limitations	(5)	(7)	0
Balance at end of year	$ 650	$ 597	$ 508

Net Income (Loss) per Share - C

Net Income (Loss) per Share - Computation of Basic and Diluted Net Income (Loss) per Share and Common Stock (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 1,893	$ (352)	$ (4,585)
Add: convertible notes interest expense, net of tax	4	0	0
Net income (loss) - diluted	$ 1,897	$ (352)	$ (4,585)
Weighted-average shares in computing net income (loss) per share attributable to Class A and Class B common stockholders, basic (in shares)	637	616	284
Weighted-average shares in computing net income (loss) per share attributable to Class A and Class B common stockholders, effect of dilutive securities (in shares)	43	0	0
Weighted-average shares in computing net income (loss) per share attributable to Class A and Class B common stockholders, diluted (in shares)	680	616	284
Net income (loss) per share attributable to Class A and Class B common stockholders, basic (in USD per share)	$ 2.97	$ (0.57)	$ (16.12)
Net income (loss) per share attributable to Class A and Class B common stockholders, diluted (in USD per share)	$ 2.79	$ (0.57)	$ (16.12)

Net Income (Loss) per Share - N

Net Income (Loss) per Share - Narrative (Details) shares in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) vote shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares
Class of Stock [Line Items]
Preferred stock dividends declared | $	$ 0	$ 0	$ 0
Preferred stock dividends accumulated | $	$ 0	$ 0	$ 0
RSAs
Class of Stock [Line Items]
Shares subject to performance conditions (in shares) | shares	0.3	0.5	0.5
Common Class A
Class of Stock [Line Items]
Votes per common share | vote	1
Common Class A | RSUs
Class of Stock [Line Items]
Shares subject to performance conditions (in shares) | shares	9.6	9.6	12
Common Class B
Class of Stock [Line Items]
Votes per common share | vote	20

Net Income (Loss) per Share - S

Net Income (Loss) per Share - Schedule of securities with antidilutive effect (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	10	70	87
2026 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	11.1	0
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	8	8
Escrow shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	0	1
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1	24	41
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	9	26	36
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	1	1

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Defined contribution plan, employer matching contribution	$ 23.4	$ 19.1	$ 22.4

Geographic Information - Schedu

Geographic Information - Schedule of revenue by geography (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 8,399	$ 5,992	$ 3,378
United States
Disaggregation of Revenue [Line Items]
Revenue	3,890	2,996	1,649
International
Disaggregation of Revenue [Line Items]
Revenue	$ 4,509	$ 2,996	$ 1,729

Geographic Information - Sche_2

Geographic Information - Schedule of long-lived assets by geography (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 259	$ 429
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	203	330
Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	36	57
Other international
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 20	$ 42

Restructuring (Details)

Restructuring (Details) $ in Millions	1 Months Ended	12 Months Ended			32 Months Ended
	May 31, 2020 employee	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring, reduction in full-time employees | employee	1,800
Restructuring charges		$ 89.1	$ 112.8	$ 151.4	$ 353.3
Restructuring liabilities		0			$ 0
Impairment of long-lived assets		80.5	75.3	35.8
Impairment of leasehold		$ 8.4	$ 37.2
Contract termination
Restructuring Cost and Reserve [Line Items]
Reduction in full-time employees (in percentage)	25%
Restructuring charges				11.8
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 103.8

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Payment processing fees | Payment processing vendor
Related Party Transaction [Line Items]
Expense transactions with related party	$ 210.9

Schedule II_Valuation and Qua_2

Schedule II—Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Customer Receivable Reserve
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 31	$ 91	$ 51
Charged to Expenses	49	27	108
Charges Utilized/ Write-Offs	(41)	(87)	(68)
Balance at End of Year	39	31	91
Insurance Liability
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	47	51	73
Charged to Expenses	140	85	98
Changes in Estimates for Prior Periods	(5)	1	(21)
Charges Utilized/ Write-Offs	(121)	(90)	(99)
Balance at End of Year	61	47	51
Valuation Allowance on Deferred Tax Assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	3,264	2,053	1,024
Charged to Expenses	(98)	1,211	1,029
Charged to Other Accounts	0	0	0
Balance at End of Year	$ 3,166	$ 3,264	$ 2,053