Its top line increased 49% in 2020 compared to 2019.

Roughly 55% to 65% of Facebook’s $84 billion in advertising revenue comes from small businesses, reckons Pivotal Research. The competition extends to Nextdoor’s revenue-providers. Facebook may not have originality on its side, but it does have an annual sales and marketing budget of around $10 billion. In May, Mark Zuckerberg’s firm rolled out “Neighborhoods,” designed to help people connect with folks nearby. Facebook is richer, more popular and is already targeting Nextdoor dwellers.

Nextdoor, though, has the opposite problem. Special purpose acquisition companies like Khosla Ventures have injected capital into many oddball ideas and products that don’t even exist yet. Rowe Price and Silicon Valley investor Bill Gurley.

Nextdoor has also managed to lure some big financial names into its neck of the woods, including fund manager T. In the United States, about one out of every three households turn to the site and it counts 60 million verified users around the world, just under half of whom visit once a week. It’s also, sadly, vulnerable to being bulldozed by Facebook (FB.O).įounded in 2011, the company led by former Square (SQ.N) executive Sarah Friar aims to be a hub for information about yard sales, missing pets, restaurant hot spots and crime. What Nextdoor is trying to build – an online community that unites, helps and enhances the places where its users live – is admirable. The neighborhood social network is merging with a blank-check firm sponsored by Khosla Ventures in a deal that values it at $4.3 billion. NEW YORK, July 6 (Reuters Breakingviews) - Nextdoor is trying to keep up with Joneses.

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