The private social neighborhood app for you and your neighbors.”

We are Nextdoor. We are simply you and your neighbors, together.

Founded: 2010 in San Francisco, USA

Category: Social Networking

Primary office: San Francisco, CA (USA)

Core technical team: San Francisco, USA

Status: Private

Employees: 450 (est.)

Amount raised: $455.2 million (9 rounds – September 2019)

OVERVIEW

  • Online service platform that provides a secured and private social networking opportunities for everyone within a specific area, allowing them to stay up to date with what is going on in their neighborhood and surroundings
  • Neighbors can easily locate and share local news or information and recommend trustworthy services ranging from handiworks/repairs, babysitting to real estate and business promotions
  • It also allows city government, police department and agencies to connect and directly communicate with members of community – share city updates, emergency alerts, safety updates- enabling a more secured and inter-connected community

 

PERFORMANCE METRICS

  • Valuation – $2.1 billion (2019)
  • Revenue – $62.5 million est. (2019)

 

ACHIEVEMENTS

  • Globally supports over 250,000 neighborhoods
  • Available in 10 countries across 3 continents (and counting)
  • 2 million monthly web visits
  • 40 million business recommendations completed through platform (2019)
  • Achieved $1 billion valuation prior to securing revenue

Sells

  • Nextdoor for Business – sponsored ads and promotions to community members
  • Verified location data for targeted and personalized offerings/advertisements
  • Nextdoor for Public Service – Direct engagement with community members for police, government, agencies, etc

Channels

  • Online and Mobile user-friendly Interface
  • Partnership with City Government, Police Dept, Real Estate Agents, Business Owners & Enterprises
  • Multi-sided platform and highly targeted online adverts (as part of community stream)

Competencies

  • Female founder led, CEO – Sarah Friar
  • Secured and encrypted Private Network.
  • Leadership team consist of former executives/employees at Google, Twitter, Yahoo, Square & Amazon

Resources

Assets

  • Address and Postal Code Verification for reliability and security – verified identities
  • Partners with Oracle & Live Ramp to provide third party targeting data
  • Scalable platform servicing over 250,000 neighborhoods

Processes

  • Online and Mobile app-enabled platforms (including Web, iOS, Android)
  • Multiple Address verification methods – Postcard, Geo-location, Referral
  • Private Network – Neighborhood groups restricted to only community members
  • Community guidelines and moderation processes to ensure inclusiveness and civility in virtual interactions
  • Focus on privacy with increasing processes to mitigate racial profiling
  • CRM ingestion and lookalike modelling

Priorities

  • Improve targeting and personalization for increased service offerings
  • Increase synchronized and friction-free ads for all stakeholders
  • Improve security, respect and privacy around connections and interactions
  • Increase profitability; have been experimenting with monetization approaches

Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely

  1. Increase value by arranging and directing a community comprised of groups that are external and internal to the company and connect everything needed to scale.
  2. Develop and sell products that address a problem, job to be done or a need that is shared by a large and growing number of individuals and organizations in various regions to increase sales.
  3. Increase sales by applying big-data analytics to produce information about users, suppliers and customers
  4. Continuously improve the user interfaces and applications that directly influence the entirety of the customer experience including personalized content and quality messaging to increase sales
  5. Increase profitability by improving links, interactions and shared purpose with local organizations in each region the company operates
  6. Increase market share by applying digital technology to brand, market, sell, and service customers more cost-effectively than competitors
  7. Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace

References

Azevedo, M. 2019. Nextdoor raises $123 million at $2.1 billion valuation to grow globally. [online]. Crunchbase News. https://news.crunchbase.com/news/nextdoor-raises-123m-at-2-1b-valuation-to-grow-globally/

Crunchbase. 2019. Nextdoor. https://www.crunchbase.com/organization/nextdoor#section-funding-rounds

Flynn, K. 2018. How Nextdoor is using verified location data to quietly build a big ads business. [online]. Digiday.  https://digiday.com/marketing/nextdoor-ads-verified-homeowners/

Nextdoor website. https://www.nextdoor.com

Owler. 2019. Nextdoor. https://www.owler.com/company/nextdoor


Contributors

  • Yinka Olanrewaju-Olawepo
  • Dan Craigen