Small print.
Wide open.

Table of Contents

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third-party  data  published  about  us  or  other  companies  in  our  industry,  whether  or  not  such  data  is 
accurate;

announcements by us or our competitors of new models, platforms, or applications;

the public’s reaction to our press releases, other public announcements, and filings with the SEC;

fluctuations in the trading volume of shares of our Class A common stock or the size of our public float;

short selling of our Class A common stock or related derivative securities;

actual or anticipated changes or fluctuations in our results of operations;

actual  or  anticipated  developments  in  our  business,  our  competitors’  businesses,  or  the  competitive 
landscape generally;

changes in the anticipated future size or growth rate of our addressable markets;

our issuance of shares of our Class A common stock, including as a result of the conversion of our Class 
N common stock in connection with certain transfers;

litigation or regulatory action involving us, our industry, or both, or investigations by regulators into 
our operations or those of our competitors;

developments or disputes concerning our intellectual property or other proprietary rights;

announced  or  completed  acquisitions  of  businesses  or  technologies,  or  similar  strategic  transactions, 
by us or our competitors;

new  laws  or  regulations  or  new  interpretations  of  existing  laws  or  regulations  applicable  to  our 
business;

regulatory  enforcement  actions  or  other  governmental  efforts  affecting  our  models,  platform,  and 
applications;

changes in accounting standards, policies, guidelines, interpretations, or principles;

• major catastrophic events such as war, incidents of terrorism, pandemics, or responses to such events;

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any additions or departures of founders, board members, management, or key personnel; and

general economic conditions and slow or negative growth of our markets.

In  addition,  if  the  market  for  technology  stocks  or  the  stock  market  in  general  experiences  a  loss  of  investor 
confidence, the market price of our Class A common stock may decline for reasons unrelated to our business, 
financial condition, or results of operations. The market price of our Class A common stock may also decline in 
reaction  to  events  that  affect  other  companies  in  our  industry  even  if  these  events  do  not  directly  affect  us. 
Accordingly, we cannot assure you of the liquidity of any trading market, your ability to sell your shares of our 
Class A common stock when desired, or the prices that you may obtain for your shares of our Class A common 
stock.

In the past, stockholders have initiated securities class action lawsuits against companies following periods of 
stock price volatility. If the market price of our Class A common stock is volatile, we may become the target of 
securities  litigation.  Such  litigation  may  subject  us  to  substantial  costs,  divert  resources  and  management’s 
attention, and adversely affect our business, financial condition, and results of operations.

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