USD	2020	2021	2022	2023	2024	2025	2026
Revenues	3.4b	6.0b	8.4b	9.9b	11.0b	12.2b	13.4b
% growth	(30 %)	77 %	40 %	18 %	11 %	10 %	10 %
EBITDA	(4.2b)	389m	2.2b	2.2b	3.9b	4.4b	5.0b
% EBITDA margin	(125 %)	6 %	26 %	22 %	35 %	36 %	37 %
Profit	(4.6b)	(352m)	1.9b	4.8b	2.7b	2.9b	3.4b
% profit margin	(136 %)	(6 %)	23 %	48 %	24 %	24 %	25 %
EV / revenue	24.4x	16.3x	5.5x	8.0x	5.9x	5.2x	4.4x
EV / EBITDA	-19.5x	252.0x	21.3x	35.5x	16.6x	14.4x	11.9x
R&D budget	2.8b	1.4b	1.5b	1.7b	-	-	-
R&D % of revenue	81 %	24 %	18 %	17 %	-	-	-

Source: Dealroom estimates

Date	Investors	Amount	Round
-	Bond Bull Partners Band of Angels Pegasus Tech Ventures Allied Venture Partners G Squared Eniac Ventures 137 Ventures Granite Ventures CBC Capital Shervin Pishevar K2 Global Stipple Ventures Management MetaProp NYC Section Partners Adit Ventures ACE and Company University Growth Fund DCVC ICONIQ Growth Ali Capital A_Capital Real Ventures Catalus Capital MicroVentures Global Space Ventures FJ Labs Quiet Capital MSA Capital Green Sands Equity EQUIAM AirCare BnB Solutions LLC Klaus Hommels Kjøller Slow Ventures Aaron Krane Axel Springer Digital Ventures	N/A	-
Jan 2009	Y Combinator	$20.0k	Seed
Apr 2009	Sequoia Capital Y Ventures	$600k Valuation: $2.4m	Seed
Nov 2010	Greylock Partners SV Angel Sequoia Capital Keith Rabois Ashton Kutcher Elad Gil Jeremy Stoppelman Y Ventures	$7.2m Valuation: $70.0m	Series A
Jul 2011	Oliver Jung General Catalyst Partners Andreessen Horowitz DST Global Ashton Kutcher Jeff Bezos Tuesday Capital	$112m Valuation: $1.3b	Series B
Feb 2012	Axel Springer	N/A	-
Feb 2013	Acequia Capital Craft Ventures	N/A	Convertible
Oct 2013	Sequoia Capital Founders Fund Ashton Kutcher Tuesday Capital	$200m Valuation: $2.9b	Series C
Apr 2014	TPG Andreessen Horowitz Sequoia Capital Dragoneer Investment Group ACME Capital	$475m Valuation: $10.5b	Series D
Jun 2015	General Atlantic Tiger Global Horizons Ventures Kleiner Perkins Sequoia Capital Wellington Management Temasek Notable Capital Fidelity Investments Baillie Gifford Hillhouse Capital Groupe Arnault T. Rowe Price	$1.5b Valuation: $25.5b	Series E
Nov 2015	FirstMark Capital	N/A Valuation: €25.5b	Series E
Jun 2016	Citi Morgan Stanley Brand Capital JP Morgan JPMorgan Chase & Co	$1.0b	Debt
Sep 2016	Technology Crossover Ventures CapitalG	$555m Valuation: $30.0b	Series F
Mar 2017	Technology Crossover Ventures Andreessen Horowitz Sequoia Capital Jeff Jordan Alfred Lin Bracket Capital	$448m Valuation: $31.0b	Series F
Sep 2017	K3 ventures	N/A	Secondary
Jan 2018	Mighty Capital	N/A	-
Sep 2018	Manhattan Venture Partners	N/A	Secondary
Jan 2019	N/A	N/A	-
Aug 2019	Asas Capital	N/A	Secondary
Dec 2019	N/A	N/A	-
Apr 2020	Blackstone Silver Lake Partners BlackRock Fidelity Investments Oaktree Capital Management Eaton Vance Management Apollo Global Management Glade Brook Capital Partners TPG Sixth Street Partners Benefit Street Partners T. Rowe Price Blue Owl Capital	$500m	Debt
Apr 2020	Blackstone Silver Lake Partners BlackRock Fidelity Investments Oaktree Capital Management Eaton Vance Management Apollo Global Management Glade Brook Capital Partners TPG Sixth Street Partners Benefit Street Partners T. Rowe Price Blue Owl Capital	$500m Valuation: $18.0b 3.7x EV/LTM Revenues -62.6x EV/LTM EBITDA	Growth Equity VC
Dec 2020	N/A	$3.7b Valuation: $47.0b 9.8x EV/LTM Revenues -163.4x EV/LTM EBITDA	IPO
Total Funding		$3.8b