Nextdoor Goes Public via SPAC Merger; Begins Trading Today

By Benzinga
Benzinga
Benzinga
November 8, 2021 Updated: November 8, 2021

The neighborhood network Nextdoor Inc. began trading from Nov. 8 following its special purpose acquisition company (SPAC) merger with Khosla Ventures Acquisition Co. II (KVSB).

The combined entity began trading on the NYSE under the symbol “KIND.”

Khosla valued Nextdoor at $4.3 billion, the Wall Street Journal reports.

Nextdoor connects neighbors to nearby neighbors, businesses, and public services, creating a highly engaged, hyperlocal network, building meaningful online and offline connections.

“Through the KVSB trust proceeds and the fully committed private placement, we raised $674 million that will help us to fund long-term growth at scale and enable our purpose of cultivating a kinder world where everyone has a neighborhood to rely on,” Nextdoor CEO Sarah Friar said. “We chose “KIND” as our NYSE ticker as kindness is core to Nextdoor’s purpose.

Nextdoor includes a feature similar to Meta Platforms Inc.’s Facebook Marketplace, where users can sell furniture, clothes, and other items directly to their neighbors.

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

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