Nextdoor (NYSE: 2021)

Nextdoor was founded around 2008 in San Francisco by Nirav Tolia, Sarah Leary, Prakash Janakiraman, and David Wiesen, building on hyperlocal-network concepts. Tolia, then an entrepreneur-in-residence at Benchmark Capital, pitched Benchmark on the idea in 2007-2008. The product publicly launched in the U.S. in October 2011 as a verified, address-based neighborhood social network. Tolia (previously co-founder/CEO of Epinions.com and COO of Shopping.com) served as founding CEO from 2008 to 2018. Nextdoor raised roughly $448 million in venture funding across eight-plus private rounds from 2008-2019, backed by Benchmark, Greylock Partners, Kleiner Perkins, Shasta Ventures, Comcast Ventures, Tiger Global, Redpoint Ventures, Insight Venture Partners, Bond Capital (Mary Meeker), and others, reaching a $2.1-2.2 billion private valuation by 2019. In October 2018, former Square CFO Sarah Friar became CEO, leading the company through international expansion and the transition to public markets. On July 6, 2021, Nextdoor announced it would go public via a SPAC merger with Khosla Ventures Acquisition Co. II at an implied pro forma equity value of approximately $4.3 billion. The merger closed on November 5, 2021, and Nextdoor Holdings began trading on the NYSE. As a newly public company, Nextdoor struggled with slowing user growth and mounting losses; it cut roughly 25% of its full-time staff in November 2023 alongside a CFO departure. In February 2024, Sarah Friar stepped down and co-founder Nirav Tolia returned as CEO, President, and Board Chair. Under Tolia's second tenure, Nextdoor reached Adjusted EBITDA profitability for the first time in company history in 2025 (full-year 2025 revenue of $258M). In July 2025 the company changed its ticker from KIND to NXDR to coincide with a major app redesign — introducing 'Faves,' an AI/LLM-powered recommendation feature, an integrated local News section, and real-time hyperlocal emergency alerts. As of Q2 2026, Nextdoor reported record Platform WAU of 22.9 million, $75M quarterly revenue (+15% YoY), with a market capitalization of roughly $835 million (July 2026).

Business model

Consumer internet / local advertising platform. Free to join for residents (identity-verified by address); monetized via local, national, and agency advertising plus paid tools for small businesses.

Primarily digital advertising (self-serve local ads, national brand advertising, agency/programmatic ads), plus 'Nextdoor for Business' pages and marketing tools.