BARRONS - Nextdoor Holdings stock is rising in late trading after the locally focused social network posted better-than-expected fourth-quarter results. For the quarter, Nextdoor reported revenue of $53.3M, down 10% from a year ago, but above the company's guidance range of $50M to $52M, and ahead of the Street consensus estimate of $50.8M, as a slowing advertising market continued to take a toll on the business.
48 posts categorized "Nextdoor"
Nextdoor Stock Is Rising. Earnings Topped Guidance Despite Soft Ad Market
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Nextdoor's Plan for Catching New Release Troubles Early on
THENEWSTACK - Nextdoor built an App Release Anomaly Detection tool that stops client-side regressions before they have a severe impact on the application. Nextdoor employs a phased rollout strategy for its weekly mobile releases. Initial users are limited to a new version to ensure safe and scalable deployments. Nextdoor started using "difference-in-differences" analysis to identify app session decline 10 days earlier than week-over-week figures.
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Nextdoor Kicks off 'Neighborhood Give Back'
ADWEEK - Neighborhood social network Nextdoor kicked off its first-ever "Neighborhood Give Back" initiative, aimed at uniting neighbors around the common goal of helping others and driving action both online and in real life. Nextdoor also teamed up with Feeding America, the largest hunger-relief organization in the US, to encourage neighbors to leverage the application's Sell for Good feature to support efforts led by Feeding America.
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Nextdoor Adds Targeting Options for Public Agencies to Its Ad Platform
ADWEEK - Neighborhood social network Nextdoor added targeting options to its ad platform in the U.S. with the aim of enabling public agencies to easily engage with people in specific neighborhoods or across multiple markets, depending on their needs. The new campaign management tool built into Nextdoor's ad platform makes it easy for those agencies to target local neighborhoods or people across multiple markets, and options include increased reach, message amplification and specialized targeting.
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Nextdoor and Vote.org Partner to Increase Voter Turnout for US Midterms
TECH CRUNCH - Nextdoor is partnering with Vote.org to encourage people to participate in the U.S. midterm elections this November. The app will encourage users to verify their voter registration status and find their polling place. Leading up to election day on Nov 8, the social network will identify polling locations and encourage neighbors to help each other get to the polls by carpooling or walking together.
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Nextdoor's CEO Sarah Friar Is Opening Doors for Smaller Businesses
TIME - Sarah Friar, CEO of Nextdoor Holdings, takes a somewhat Pollyannaish view of how the neighborhood social networking platform will fare during the next downturn. Nextdoor makes money from ads and sponsored content. Nearly 1 in 3 U.S. households uses the free app to find plumbers, sell stuff, or complain about neighbors.
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Nextdoor Posts 19% YoY Revenue Growth in Q2 2022
ADWEEK - Neighborhood social network Nextdoor reported revenue of $55M in Q2 2022, up 19% from the same period last year. The platform's 36.9M WAUs were up 26%. International weekly active users rose 51% YoY, led by Canada and Europe, particularly the U.K.
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Nextdoor Teams up With Verizon on the Big Neighborhood MeetUp
ADWEEK - Neighborhood social network Nextdoor teamed up with Verizon on The Big Neighborhood MeetUp, a monthlong call to action in honor of Neighbor Month in September and part of Verizon's #ACallForKindness campaign, aimed at encouraging people to recognize and build vital relationships with those nearby and to showcase the power of kindness. The two companies will host #BigNeighborhoodMeetUp events in four cities such as Chicago; Houston; Oakland, Calif.; and Raleigh, N.C. A fifth #BigNeighborhoodMeetUp event will be held in New York in October to coincide with Advertising Week NYC.
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Nextdoor Celebrates the Best Neighbors in America With the Nextdoor 100
FORBES - Last month, the hyperlocal social networking platform, Nextdoor, revealed the winners of the Nextdoor 100, a nationwide celebration of the best neighbors. Unlike other award programs, this 'for neighbors, by neighbors' celebration shines a light on the people who make a difference in everyday lives, but don't get the recognition they deserve. ~46K entries poured in from communities across America. While the stories are as varied as the individuals, the common theme was acts of kindness, big and small, that help creates neighborhoods everyone can rely on. These first-ever Nextdoor 100 honorees include neighbors, small business owners, and local organizations who are making a difference in their neighborhoods.
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Nextdoor Will Remind Users to Keep Conversations 'Constructive' and 'Empathetic'
ENGADGET - Neighborhood social network Nextdoor is introducing a new feature that will remind users to keep conversations "constructive" when the app detects that a particular thread may be likely to turn negative or overly contentious. The feature uses machine learning to detect when a conversation between neighbors may be close to becoming problematic, looking at factors like the rate of comments coming in as well as whether the people active in a thread have been reported in the past.
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Self-Service Platform Nextdoor Ads Moves Into the Neighborhood
ADWEEK - Neighborhood social network Nextdoor is revamping its advertising offerings with the self-serve campaign-management platform Nextdoor Ads launch. Nextdoor Ads features a guided user interface that takes advertisers through a five-step process: Select a goal, build their ad, choose their audience, set their budget, and publish the ad. The social network continues to sharpen its focus on local SMBs. It will roll out fully across the U.S. in the coming weeks, with more countries onboarded later.
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Is Nextdoor a Friend in Need or a Vigilante Nightmare?
THE GUARDIAN - Nextdoor is now used in ~250K neighborhoods in 11 countries worldwide. Yet there is a body of opinion that sees Nextdoor as weaponizing curtain-twitching. These opponents suggest that instead of creating community cohesion, it fosters animosity and division. Nextdoor has been accused of racial profiling in America and creating an atmosphere of "paranoid hysteria." But at the same time, the weight of participating voices can be misleading and distorting, as each person adds unverifiable anecdotes and contributes to what can sometimes seem like a vigilante clamor. In Q4, the total revenue was $59M, up ~50% YoY, and a public offering realized a cash balance of ~$700M.
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Nextdoor Beats Expectations in First Earnings Report Since IPO
TECH CRUNCH - In the Q4 of 2021, Nextdoor recorded revenues of $59.3M, up 47.9% from its year-ago tally of $40.1M. However, the company also had an expensive quarter, with operating costs of $88.6M, up sharply from a year-ago mark of $55.5M, leading to a larger net loss of $29.3M in the quarter, up from $14.9M in Q4 2020. Investors had expected Nextdoor to report $55.4M in revenue in Q4 2021, per Yahoo Finance data. The company beat that mark.
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Nextdoor Says Communities' Self-moderation Works
AXIOS - Over the past year, Nextdoor says that ~233K community volunteers worldwide voted on whether to take action on at least one piece of the reported content. Nextdoor says that the median time to remove reported content was 4.6 hours. As for government requests, Nextdoor said it received 18 U.S. subpoenas 11 search warrants and provided content related to two child safety reports.
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Nextdoor Revamps With New Profiles, Feed, and More Community-building Features
TECH CRUNCH - Neighborhood social network Nextdoor rolls out features that better align its product with its larger vision. The company launches new user profiles that allow people to introduce themselves with a photo, short bio, and preferred pronouns. Another "Neighbors You May Know" feature will also recommend people users may want to connect with, based on proximity, connections you have in common, on-platform interactions, or personal contacts. The "Connect" feature, which is Nextdoor's version of "friending" someone, will help to form the basis for the new type of social network Nextdoor is creating. The app's layout, navigation, and main feed are being redesigned with these new features in mind.
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