Neighbourhood App Nextdoor Goes to the Stock Exchange in New York

The American neighbourhood app Nextdoor goes on the stock exchange in New York. The company, which has also been active in the Netherlands since 2016, hopes to find investors to grow further.

 

This can be done by developing new products, recruiting more people and expanding into new areas.

Nextdoor brings neighbours and businesses together on a small scale, for example, within a neighbourhood or village. In the United States, the app is said to be used by one in three households to build contacts, share reliable information and offer or request help.

The IPO will take place through a merger with the US Nasdaq listed Khosla Ventures Acquisition II. This is a ‘spac’, a stock exchange fund specially set up to invest in other companies or make acquisitions. The transaction is expected to close in the fourth quarter of this year.

The neighbourhood app was discredited in the US last year because the platform would also be used a lot by users to spread racist messages. Nextdoor released a feature in April that recognizes discriminatory language and warns users about it.