Nextdoor Goes Public Via SPAC Merger; Begins Trading Today

  • The neighborhood network Nextdoor, Inc KIND will begin trading from November 8 following its special purpose acquisition company (SPAC) merger with Khosla Ventures Acquisition Co II KVSB.
  • The combined entity will begin 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 FB Facebook Marketplace, where users can sell furniture, clothes, and other items directly to their neighbors.
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