Balance Sheet Components

Cash and Cash Equivalents

Cash and cash equivalents consisted of the following (in thousands):



	June 30, 2019		December 31, 2018
Cash	$	13,425	$	11,990
Money market funds	51,169		117,138
Commercial paper	2,498		—
Total cash and cash equivalents	$	67,092	$	129,128

Marketable Securities

Marketable securities consisted of the following (in thousands):



	June 30, 2019
Commercial paper	$	42,481
Treasury bills	4,991
U.S. government securities	14,970
Total marketable securities	$	62,442

For the three and six months ended June 30, 2019, the gross unrealized gains and losses on the Company’s marketable securities were immaterial. As of June 30, 2019, the Company considered any decreases in market value to be temporary in nature and did not consider any of the Company’s marketable securities to be other-than-temporarily impaired. As such, the Company did not record any impairment charges with respect to its marketable securities during the three and six months ended June 30, 2019.

Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):



	June 30, 2019			December 31, 2018
Computer equipment and software	$	3,750		$	3,189
Internal-use software and platform development	8,820			6,287
Leasehold improvements	10,433			5,783
Office furniture and fixtures	2,291			2,545
Total property and equipment	25,294			17,804
Less: accumulated depreciation	(6,087		)	(6,989		)
Property and equipment, net	$	19,207		$	10,815

For the three months ended June 30, 2019 and 2018, depreciation expense related to property and equipment was $0.6 million and $0.5 million, respectively. For the six months ended June 30, 2019 and 2018, depreciation expense related to property and equipment was $1.4 million and $0.9 million, respectively.

For the three months ended June 30, 2019 and 2018, the Company capitalized $1.4 million and $1.3 million of internal-use software and platform development costs, respectively. For the six months ended June 30, 2019 and 2018, the Company capitalized $2.5 million and $1.9 million of internal-use software and platform development costs, respectively.

Amortization expense related to the capitalized internal-use software and platform development costs was immaterial for the three and six months ended June 30, 2019. For the three and six months ended June 30, 2018, there was no amortization expense related to the internal-use software and platform development costs as the underlying assets had not been placed into service as of June 30, 2018.

Intangible Assets, Net

All of the Company’s identifiable intangible assets were acquired in March 2014 from the Elance-oDesk Combination. Intangible assets, net consisted of the following (in thousands):



	June 30, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trade names	$	2,293	$	2,293	$	—
User relationships	18,678		14,008		4,670
Developed technology	10,356		10,356		—
Domain names	529		529		—
Total	$	31,856	$	27,186	$	4,670



	December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trade names	$	2,293	$	2,293	$	—
User relationships	18,678		12,674		6,004
Developed technology	10,356		10,356		—
Domain names	529		529		—
Total	$	31,856	$	25,852	$	6,004

For each of the three and six months ended June 30, 2019 and 2018, amortization expense of intangible assets was $0.7 million and $1.3 million, respectively. Amortization expense is included in general and administrative expenses. As of June 30, 2019, the remaining useful life for user relationships was 1.8 years. As of December 31, 2018, the remaining useful life for user relationships was 2.3 years.

As of June 30, 2019, the estimated future amortization expense for the acquired intangible assets was as follows (in thousands):



	June 30, 2019
Remainder of 2019	$	1,334
2020	2,668
2021	668
Total estimated future amortization expense	$	4,670

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):



	June 30, 2019		December 31, 2018
Accrued compensation and related benefits	$	3,712	$	9,314
Accrued freelancer costs	799		2,465
Accrued indirect taxes	2,192		1,630
Accrued vendor expenses	11,150		6,002
Accrued payment processing fees	776		715
Other	503		822
Total accrued expenses and other current liabilities	$	19,132	$	20,948