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Convertible Preferred Stock
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Convertible Preferred Stock

8. Convertible Preferred Stock

As of December 31, 2019, the Company had 33,645,447 shares of convertible preferred stock (“Convertible Preferred Stock), authorized, issued and outstanding, of which 20,000,000 shares were designated as Series A convertible preferred stock (“Series A Preferred”); 7,592,830 shares were designated as Series B convertible preferred stock (“Series B Preferred”); and 6,052,617 shares were designated as Series C convertible preferred stock (“Series C Preferred”). The Company’s Series A Preferred, Series B Preferred and Series C Preferred were issued at $1.00, $3.03 and $4.56 per share, respectively.

In May 2020, the Company authorized 15,313,382 shares of Series D convertible preferred stock (“Series D Preferred”) and 8,973,261 shares of Series D-1 convertible preferred stock (“Series D-1 Preferred”). In May 2020 the Company entered into a stock purchase agreement with certain investors and issued 15,313,382 shares of Series D Preferred for net proceeds of $106,631. In October 2020, the Company issued 8,973,261 shares of Series D-1 Preferred at a purchase price of $11.98 per share for aggregate net proceeds of $107,485.

In connection with the Company’s IPO, all shares of its convertible preferred stock converted into 57,932,090 shares of common stock.

As of December 31, 2020 the Company has 10,000,000 shares of preferred stock authorized.  No shares of preferred stock have been issued.