Learn how to invest in Nextdoor stock. Open an account with an online stock broker such as M1 Finance to buy Khosla Ventures Acquisition Co. II (KVSB) stock today, which is in the process of acquiring Nextdoor through a SPAC merger.
Nextdoor stock will eventually trade under the symbol “KIND” when the deal closes later in 2021.
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Latest Nextdoor Stock IPO News
07/06/2021: Nextdoor to become a publicly-traded company through SPAC merger with Khosla Ventures Acquisition Co. II
05/05/2021: Facebook launches Neighborhoods, a Nextdoor clone
10/16/2020: Nextdoor Is Said to Eye Public Listing, $5 Billion Valuation
09/10/2019: Nextdoor adds new funding, closes growth round at $170M with $2.1B valuation
What is Nextdoor?
Nextdoor is a “hyperlocal” private social network platform where neighbors connect online.
It’s more local than Facebook and safer to transact than Craig’s List. Members must register with their real names and addresses.
Communication in the app is by neighborhood, and the user controls the communication radius.
The app helps people find professional services and contractors by asking neighbors for recommendations.
Nextdoor can also be used to track down missing pets, borrow tools, or sell unwanted furniture.
Members in my neighborhood often talk about annoyances such as local crime, disputed coyote sightings, airplane noise, speeders, and disrespectful neighbors.
Nextdoor is a San Francisco-based company founded in 2008.
This video is an example of how some users may utilize the network:
Is Nextdoor Stock Publicly Traded?
Not yet. However, the company is set to complete SPAC merger with Khosla Ventures Acquisition Co. II (KVSB) as announced on July 6th, 2021.
The current shareholders include founders, early investors (venture capital firms), and employees.
You can find a current list of Nextdoor investors at Crunchbase.
Nextdoor has raised at least $450 million in private financing since its founding.
Prominent venture capital investors include Kleiner Perkins, Benchmark, Tiger Global, Greylock Partners, Shasta Ventures, Riverwood Capital, and Bond.
When is the Nextdoor IPO Date?
It looks like there will not be a traditional IPO for Nextdoor.
The company announced it will come public via SPAC merger with Khosla Ventures Acquisition Co. II (KVSB). The deal is expected to finalize later in 2021.
Bloomberg reported in October 2020 that the company was considering multiple IPO options and planning to go public in 2021.
The company was considering a traditional IPO, direct listing IPO, and SPAC (special purpose acquisition company) merger.
One source told Bloomberg:
Nextdoor has rebuffed approaches from some special purpose acquisition companies to pursue growth, which has accelerated as a result of the pandemic.
Bookmark this page for the latest Nextdoor SPAC news.
Will There be a Nextdoor SPAC Acquisition?
YES!
A SPAC is a special purpose acquisition company, also known as a blank check company. They are shell companies designed to help established businesses go public without a traditional IPO.
The SPAC company merges with the established company and takes on the established company’s name. It’s also known as a reverse merger.
SPACs have become popular recently after Virgin Galactic, Lordstown Motors, and Nikola used them to become publicly traded companies.
So many SPACs have gone public in the past 12 months that it’s likely Nextdoor receives pitches each week.
This could put Nextdoor in a strong position to go public via a SPAC, considering it’s a well-established social media startup.
At a $5+ billion valuation, as suggested by Bloomberg reporting, Nextdoor is large enough to maintain its options and focus on growth before worrying about shareholders.
Using a SPAC to go public allows the company to skip the complicated and expensive IPO process.
Not all companies are ready to IPO, making SPACs an attractive alternative to an IPO where the company can still raise new funds.
However, the more established a company is, the more resources it can hire to facilitate the traditional IPO process.
When early investors and employees need liquidity, and the company generates more significant revenue, the company will decide on the best way to go public — a traditional IPO, direct IPO, or SPAC merger.
What is the Nextdoor Stock Price?
Since Nextdoor is not publicly traded on a stock exchange, there is no Nextdoor stock price yet.
However, below is the Khosla Ventures Acquisition Co. II (KVSB) stock price which will eventually merge with Nextdoor:
What is the Nextdoor Stock Symbol? Nextdoor Ticker?
Nextdoor has not yet submitted public filings to the SEC, but will complete a SPAC merger with Khosla Ventures Acquisition Co. II (KVSB).
You can own KVSB now to eventually own Nextdoor stock.
When the deal closes, the Nextdoor stock symbol will change to “KIND”, according to the press release.
NEXT and DOOR are both taken.
Will Nextdoor Stock be a Motley Fool Stock Advisor Recommendation?
We won’t know until after the IPO if Nextdoor will be a Motley Fool Stock Advisor recommendation. However, Nextdoor fits the mold of high-growth, disruptive business models that the Fool typically recommends.
Other social media companies have enjoyed previous Fool recommendations, including Facebook, Twitter, and Pinterest.
Nextdoor will undoubtedly be on their radar once public.
Fool newsletter subscribers are notoriously long-term-minded and rarely sell, meaning the stock price will continue to rise.
Nextdoor may also receive a recommendation by the Motley Fool Rule Breakers (Rule Breakers review) newsletter or other premium services.
Both services have handily beaten the broader market since the early 2000s.
Read this Motley Fool Stock Advisor review to learn about the stock selection methodology and about how you can participate in excellent returns.
Stock Advisor is currently half-off at just $99 for an annual subscription.
Can you Invest in Nextdoor Stock Today? Yes (sort of).
Nextdoor has announced that it will become a public company through a SPAC merger with Khosla Ventures Acquisition Co. II (KVSB).
You can buy KVSB stock today to own Nextdoor stock. However, you won’t officially own shares in the company until the deal closes later in 2021.
Best Brokers to Buy Nextdoor Stock
What is the best online brokerage for buying Nextdoor stock?
If you want to attempt to participate in IPOs, TradeStation and Webull are the best low-minimum investment IPO brokers for investors with assets under $100,000.
See the complete list of best brokers for IPO investing here.
Joining a broker that offers access to IPOs does not guarantee a share allocation, especially in high-demand IPOs. You are probably better off waiting for the company to start trading after the IPO.
Long-term buy and hold investors may prefer a broker not as geared toward frequent trading.
As an individual investor, you’ll want to open an account with a commission-free online broker. That way, you’ll invest most of your money instead of waste it on fees.
I’m a big fan of the online brokerage M1 Finance. M1 Finance is a reliable and robust, no-fee online broker for beginner to advanced investors.
As your investing skills and portfolio mature, M1 is one of the best platforms to scale.
Investing in stocks is 100% free on the platform. They also offer an integrated checking account and low borrowing rates. Read my complete M1 Finance review here.
The platform is more intuitive than old-school brokers because it’s built on a modern technology platform. You create portfolio “pies” that contain all the stocks and ETFs you want to own and in what percentages. Add Nextdoor stock to your portfolio pie once it begins trading.
M1 Finance does not offer IPO access. But it’s my favorite for long-term investing, which is my preferred strategy for disruptive IPO companies.
Where can I find the Nextdoor S-1 Filing?
Nextdoor will not have an S-1 filing because it will become a public company through a SPAC merger.
You can find a real-time SEC feed of the latest IPO filings from other companies on the recent S-1 filings page.
* Disclosure: The web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long TSLA, ABNB, FB, TWTR, BYND, PINS.