What Happened to Nextdoor Holdings?
Ticker: KINDSPAC Year: 2021Merger: 2021
Return
-82.0%
Current Price
$1.8
Peak Price
$17
Trust Size
$415M
Summary
Neighborhood social network went public via Khosla Ventures SPAC at $4.3B. Crashed 90% as advertising revenue growth stalled and user engagement disappointed.
What Happened
Nextdoor merged with Khosla Ventures Acquisition Corp II in November 2021. The hyper-local social network connects neighbors for recommendations, safety alerts, and local commerce. It had 33M weekly active users but struggled to monetize â local advertising is a brutally competitive market dominated by Google and Facebook. Revenue grew slowly while losses mounted. Stock crashed from $17 to under $2.
Key People
Timeline
2021-07
SPAC merger announced
2021-11
Merger completed
2022-06
Stock falls 70%
2023-03
Layoffs, cost cutting
2025-01
Stock under $2