Liquidity and Capital Resources General As of September 30, 2021, our principal source of liquidity was cash and cash equivalents totaling $597.7 million, which was held for working capital purposes, as well as the available balance of our revolving line of credit, described further below. We have financed our operations primarily through sales of our equity securities in our completed IPO, conversions of our redeemable preferred stock, payments received from customers, and borrowings under our credit facility. On March 19, 2021, we completed our IPO in which we issued and sold 20,700,000 shares of our Class A common stock at the public offering price of $25.00 per share. We received net proceeds of approximately $485.5 million after deducting underwriting discounts and commissions. We believe our existing cash and cash equivalents and amounts available under our outstanding credit facility will be sufficient to support our working capital and capital expenditure requirements for at least the next twelve months. Our future capital requirements will depend on many factors, including but not limited to our obligation to repay any balance under our credit facility if we were to borrow against the facility in the future, our platform revenue growth rate, receivable and payable cycles, the timing and extent of investments in research and development, sales and marketing, and general and administrative. Credit Facility In May 2012, we entered into a Loan and Security Agreement with Pacific Western Bank (formerly Square 1), or the Loan Agreement, for a revolving line of credit with a maturity date of May 15, 2013. Since the original agreement, we have executed subsequent amendments to extend the maturity date until February 2022. Advances under the Formula Line bear interest equal to the greater of (A) 0.20% above Pacific Western Bank’s prime rate then in effect; or (B) 4.50%. Advances under the Non-Formula Line bear interest equal to the greater of (A) 0.75% above Pacific Western Bank’s prime rate then in effect; or (B) 5.00%. Interest is due and payable monthly in arrears. We may prepay advances under the credit facility in whole or in part at any time without premium or penalty, and the credit facility matures on February 11, 2022. As of September 30, 2021, there were no outstanding borrowings. The interest rate applicable on any outstanding balance as of December 31, 2020 was 5.00%. Our obligations under the Loan Agreement are secured by substantially all of our assets. In April 2021, we amended the Loan Agreement and exercised our option to increase our available line of credit from $25.0 million to $35.0 million, or the First Amendment. Additionally, we amended our minimum EBITDA and minimum net revenue covenants which reset each annual period. On May 6, 2021, we issued a letter of credit to DoorDash, Inc., or DoorDash, in the amount of $25.0 million in connection with our Restated Delivery Network Agreement. The First Amendment contains various affirmative and negative covenants and we were in compliance with these covenants as of September 30, 2021. See Note 12 to the notes to our condensed financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for further details. In August 2021, we further amended the Loan Agreement to maintain the lesser of at least $75.0 million or an amount equal to 50% of all of our cash deposits with any bank and to extend certain reporting requirements from 30 to 45 days after each quarter end. The foregoing description of the material terms of the Second Amendment does not purport to be complete and is subject to, and is qualified in its entirety by, reference to the full terms of the Second Amendment, which we have filed as an exhibit to this Quarterly Report on Form 10-Q. We refer to the Loan Agreement as amended by the First Amendment and the Second Amendment as the Amended Loan Agreement. We currently have $8.6 million available under the revolving line of credit due to our outstanding $25.0 million letter of credit to DoorDash and our outstanding $1.4 million letter of credit on the lease of our headquarters. As of September 30, 2021, we had no outstanding borrowings under the line of credit. As of September 30, 2021, no amounts have been drawn against any of our letters of credit. The Amended Loan Agreement contains customary affirmative and negative covenants, including covenants that require Pacific Western Bank’s consent to, among other things, merge or consolidate or acquire assets outside the ordinary course of business, make investments, incur additional indebtedness or guarantee indebtedness of others, pay dividends and redeem and repurchase our capital stock, enter into transactions with affiliates outside the ordinary course of business and create liens on our assets. We are also required to comply with certain minimum EBITDA and minimum revenue covenants. 40