Neighborhood social network Nextdoor is going public: it’s capitalizing on “local media”
![_"This is definitely going on Nextdoor" [Caspar Benson via GettyImages]_](https://cdn.robinhood.com/static_content/mwphzyq69oso/en-US/assets/files/2uZpftInYXq33NQppRLlY6_1_GettyImages-108914656.jpg)
Has anyone seen my tabby cat?... When Tabitha's missing, a Facebook post won't help — so you turn to Nextdoor. The hyper-local social networking app allows you to chat with neighbors, exchange recs, and get the scoop on local news. Like: your fave mailman just retired, and that "earthquake" you felt was actually just you. People seek advice on everything from babysitters, to laundromats, to borrowing BBQ grills.
- Nextdoor is going public through a SPAC merger that values it at $4.3B, nearly double its 2019 valuation. The 10-year-old company will raise nearly $700M.
- KIND: Nextdoor's future ticker combats perceptions about its chatrooms, like "Trina, can you take out your stupid trash before 2 am.”
- $$$: Nextdoor makes most of its money from ads for local businesses and real estate brokers. Two big trends in its favor: business reopenings and the housing boom.
Giving away my extra TP rolls... Too kind. Nextdoor thrived during the pandemic, as people flocked to the app for info about Covid, testing/vax sites, and local biz closures. Now:
- Nearly one in three households in the US use the Nextdoor app.
- 275K+ neighborhoods across 11 countries are on Nextdoor.
- Facebook is trying to Zuck Nextdoor with a copycat called “Neighborhoods.”
OG social has become too antisocial... Most of the time: You're scrolling photos of random influencers and meme accounts, and barely interacting with your 1K followers. On FB, you're flooded with notifications about people you haven't seen since 5th grade. People are seeking real community post-pandemic, but big social networks have become too big. Tight-knit communities and real-life connections help Nextdoor users feel closer — call it "local media."