Nextdoor Raises $21.6M to Build Social Network for Neighborhoods
Nextdoor, the social network targeting the 'hyper-local' market, announced Tuesday that it has raised $21.6 million in it's latest round of funding. Led by veteran Greylock Partner venture capitalist David Sze, Nextdoor is trying to build the next big social network for neighbors, block-by-block. Currently Nextdoor has more than 8,000 neighborhoods in the U.S., and members are posting over 500,000 messages daily about lost dogs, babysitters, referrals for local dentists, doctors, plumbers, as well as garage sales, civic minded activities and setting up local community watch programs.
Sze told the LA Times that, "Every social network on Earth pitches me and I say no to nearly every single one of them." Sze, who was also an early investor in Facebook and LinkedIn, says he thinks Nextdoor, "has all the hallmarks of being the next great massively valued social network."
"I was fortunate enough to be involved in the early growth years at both LinkedIn and Facebook and have seen how the seemingly simple act of connecting people can lead to major change in the world and create seminal independent companies," said Sze. "Nextdoor is uniquely positioned to become the social network for your neighborhood and Greylock is honored to lead this round of funding at such a pivotal time for the company."
Users are required to provide a real name and address to sign-up, and information is only visible to others in the neighborhood. Once signed-up, whether starting a new neighborhood, or responding to an invite by someone you know in your existing neighborhood, users can then see block-by-block, who is on the service. Clicking on a specific residence will bring up information about who lives there, along with other information that is self-disclosed.Continued on the next page