Nextdoor is a neighborhood social network that has become an essential tool for local communities in recent years. Founded in 2010, the platform allows neighbors to connect with each other and share useful information about their neighborhood, from restaurant recommendations to local news.
One of their goals is to cultivate a kinder world, where everyone has a neighborhood they can trust, by offering tools that allow you to receive trusted information, give and receive help, get things done, and make real-world connections with the people you care about. .
Today, Nextdoor is trusted by neighbors in more than 305,000 neighborhoods around the world, including the US (1 in 3 US homes), the UK (1 in 4 UK homes), Germany, France, the Netherlands, Italy, Spain, Sweden, Denmark, Australia and Canada, with many more to come.
Business model
One of the reasons for Nextdoor’s success is its business model. The platform generates revenue through local advertising by offering marketing tools for businesses, allowing them to easily and easily create ads on the platform. By targeting local communities, advertising on Nextdoor is highly effective and engaging for local businesses looking to reach a specific audience in their catchment area.
In Spain it does not yet monetize, so we will not find advertising within the platform.
Financial results
In financial terms, Nextdoor has had mixed results in recent years. In 2021, the company became a listed company on the New York Stock Exchange, after merging with a special purpose acquisition company (SPAC). In its most recent financial report, Nextdoor reported a net loss of $137.916 million for the year 2022. However, the company also reported a 36% increase in revenue over the previous year.
Sarah Friar, CEO of Nextdoor, told us:
In Q4 2022, Weekly Active Users (WAUs) grew 11% year-over-year and 4% quarter-over-quarter, reflecting the usefulness, community, and enduring value Nextdoor provides to neighbors and businesses everywhere. the sizes. With a strong team and more than $580 million in cash and investments on our balance sheet, we are well positioned to execute our product strategy to support WAU growth, revenue growth and margin expansion in 2023.
News
Nextdoor has been working on new functions and features to improve the experience for its users. One of the most notable is the function «neighborhood help“, which allows users to request and offer help in their community, such as pet sitting or help with shopping. This function became especially relevant again during the COVID-19 pandemic, when many neighbors needed help making purchases or receiving medicines.
Another of Nextdoor’s new features is the “Coshare links“, which allows users to share links to websites and news relevant to their community. This feature helps users stay informed about what’s happening in their neighborhood and also allows local businesses to share important information with their audience.
Nextdoor’s medium and long-term goal is to continue growing. The company is also working to improve the quality of information shared on your platformto ensure that users have access to accurate and relevant information about their community.
Link: en.nextdoor.com.