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 Teams up With Verizon on the Big Neighborhood MeetUp
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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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The Home Depot Sponsors Nextdoor's Cheer Map
ADWEEK - The Cheer Map from neighborhood social network Nextdoor is back, with The Home Depot sponsoring the initiative this year. The interactive local guide to each area's best holiday décor will also feature the retailer's nearby locations.
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Nextdoor Completes Move to Go Public
WALL STREET JOURNAL - Shares in Nextdoor surged on their first trading day as the free social-networking app aimed at connecting local neighborhoods began life as a public company. User numbers grew to 63M by mid-2021. Nextdoor shares, trading under the ticker KIND, rose as high as $18.59 in morning trading; more recently, the stock was up 39% to $15.43. Shares of the Khosla SPAC ended trading at $11.12 on Friday.
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Nextdoor App Launches Halloween Version
3 NEWS - The neighborhood social networking site Nextdoor launches its annual Halloween treat map. It's urging people to use the map to share their plans for the holiday. This year, they partnered with Reese's brand to guarantee more treats than tricks.
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Nextdoor to Go Public in SPAC Deal Valued at $4.3B
BLOOMBERG - July 7 - Nextdoor will go public through a special purpose acquisition company in a deal expected to value the local social network at $4.3B. The San Francisco-based company will merge with Khosla Ventures Acquisition Co. II, a blank-check vehicle created by the venture capital firm of billionaire Vinod Khosla. The transaction will generate proceeds of $686M. It's expected to close in Q4.
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Nextdoor Vaccine Map Rolls out Across US
ADWEEK - June 25 - Neighborhood social network Nextdoor teamed up with grocery chain Albertsons and pharmaceutical company and Covid-19 vaccine provider Moderna on the Nextdoor Vaccine Map, available across the U.S. The map will help people on Nextdoor input their ZIP code, locate nearby vaccine availability, schedule appointments, and learn more about the vaccine via information from the Centers for Disease Control and Prevention.
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Nextdoor IPO: Information to Know Before Investing
INVESTMENT U - June 18 - The Nextdoor IPO is coming sometime this year. Nextdoor is a neighborhood-based social networking platform. The company is privately held and based in San Francisco. Nextdoor is currently available in ~300K neighborhoods across 11 countries. Users can exchange information, recommendations, and advice with others in their neighborhood. Nextdoor's total number of active users increased more than 80% MoM. The company has raised ~$450M from investors. Nextdoor was worth ~$2.2B after the company's last round of funding in Sep 2019. The company is rumored to seek a $4-5B valuation when going public. But this hasn't been officially confirmed.
by Aimee Bohn
See full article at Investment U
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The Next Big Social Network: Nextdoor
AXIOS - June 15 - Nextdoor, the neighborhood social network has seen explosive growth over the past two years as homebound users became more fixated on what was happening on a hyper-local level. Last year, the number of daily active users increased ~50% YOY. Worldwide app downloads peaked in mid-2019, with ~3.4M downloads. The U.S. makes up ~80% of its mobile app market. Nextdoor also operates in Canada and 10 European countries, including the U.K., Sweden, Spain, Germany, and France.
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