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Related Party Transactions
3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Transactions with USAA
USAA is a large stockholder in the Company and was the Company’s most significant affinity marketing partner. At the time that the Company entered into arrangements with USAA to operate its Auto Buying Program, USAA met the definition of a related party. In February 2020, the Company entered into a short-term agreement to extend its partnership with USAA
Federal Savings Bank (“USAA FSB”) to continue to power the USAA Car Buying Service through September 30, 2020. USAA FSB paid the Company a $20 million transition services fee that was earned over the term of the agreement. Revenue share from USAA FSB to the Company remained the same as it was under the previous agreement except that amounts earned after March 1, 2020 were settled net of the transaction service fee. For the three months ended March 31, 2020, the Company recognized revenue of $1.7 million and recorded sales and marketing expense of $2.0 million related to service arrangements entered into with USAA. At March 31, 2021 and December 31, 2020 the Company had no amounts due to or from USAA.
Transactions with Accu-Trade
During the first quarter of 2019, the Company became a 20% owner of Accu-Trade and accounts for the investment using the equity method, as the Company has significant influence over the investee. The Company had amounts due to Accu-Trade included in accounts payable at March 31, 2021 and December 31, 2020 of $1.0 million and $0.9 million, respectively. The Company recognized contra-revenue of $0.3 million and $0.4 million and cost of revenue of $1.2 million and $0.3 million for the three months ended March 31, 2021 and 2020, respectively, related to a software and data licensing agreement entered into with Accu-Trade.