Nextdoor CEO Wants to Help Local Businesses Thrive



tell us about next or what it is and maybe what's unique about it relative to maybe other social networks like Facebook sure so next door we are all about local we're founded on trust so it is your neighbors we have verified that those are the people living around you from there we want to be able to do three things we want to keep you informed but what's going on in your neighborhood we want to help you get connected remember that's most people don't know their neighbors so it's a huge problem that we're trying to solve and the third has helped you get things done everything from help me find a babysitter help me find the best plumber help me find a great event to go to this weekend we're there to make sure that anything you want to do in a hyperlocal fashion gets done on next-door okay how big is next-door in terms of members or cities or neighborhoods sure so today we're about 240 240,000 neighborhoods across ten countries so the great thing I see with next-door is there's not a community in the world that doesn't want to create stronger safer communities so today we are in the US but we also resonate very well in countries like the UK the Netherlands Australia other European countries but frankly the world's our oyster right there you can go anywhere North Korea when you name it there still will be a mom maybe looking to find other moms you might find a senior that's lonely that wants to meet other seniors everybody's tap or faucet breaks down at some point real life they need the plumber so we view it as a really open-ended opportunity so in the business side your company recently had a capital raise of about a hundred twenty three million dollars a nice evaluation 2.1 billion to talk to us about that raise and kind of what the use of proceeds are for absolutely so we were delighted with that fundraise it was one of the first things I wanted to do coming in as a new CEO is always just to make sure that you have the right balance sheet to do everything else that you want to get done the round itself as you noted two point 1 billion dollars 123 million raised a very nice mixture of new investors coming in so Riverwoods capital led it but also current investors to folks like benchmark capital and kleiner perkins um in terms of what we want to do with it really three things the first is to continue to drive growth so we continue to have global aspirations so it's helped let's go country-by-country second area is engagement so once we have neighbors on the platform how do we keep creating more utility the way you do that is you hire more engineers they build more great products and they cost a lot of money I'm higher and the third area that we are digging into is this power of local business so also one of my passions in life clearly coming from where I was before is what can you do to help local businesses thrive and we know that when they thrive communities thrive and so we're better putting a big push into how do we bring local small businesses onto the platform – one of the big issues I think that's getting probably more play over the last several years particulars social media platforms has been a privacy so for next door I know there's been some issues about you know what information is shared between neighbors is there some profiling going on in neighborhoods how do you deal with the content that goes on your platform sure so it's a great question and I think it is absolutely something we as platforms have to make sure we're being very proactive about I started by saying we're founded on trust so we actually do a lot to verify that you live in that house in that neighborhood I would call it almost a very friction full onboarding process I'm very on Silicon Valley because of that it's not a bot it's not a made-up person it truly is your neighbor second thing that we do is that once you're on the platform it is your name and your address that's seen so it never makes everyone their best selves clearly when people are passionate about particular topics that can get contentious sometimes but by having your name there we think it makes you your better self and then I think the third piece where you were going with things like racial profiling we use a lot of design and we've worked with a lot of academics over time to really help as people make a post help them really get into you know the front part of their brain where you're truly thinking and we spend a lot of time talking about kindness that ultimately kind posts kindness in your neighbor gate that's what builds social capital great

2 Comments

  1. Disappointed this wasn't a Sarah Friar and Sarah Frier one-on-one interview entitled 'Friar N Frier' but that's how my 2019 has been going..

    July 12, 2019
    Reply
  2. Storm Shadow said:

    If you believe a single word of this "we want to help small business" then you're gullible

    July 12, 2019
    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *