Before giving my thoughts on Nextdoor’s SPAC merger, I want to congratulate Denis, Stan, and the TradingView community for hitting the $3 billion valuation. I have been a proud member of TradingView for over 7 years, and the progress I have seen in their product is incredible!
Many of you who have been following me over the years know that I haven’t published anything for a while (over 2 years!). I have been more focused on long-term portfolio management, and the past few years have been an eye-opener and a steep learning curve. Ok, enough of me, let’s move to Nextdoor!
Back in July 2021, I was ready to make my next investment move. I have started researching tech companies with innovative products, a great team, and showed revenue growth. After a few weeks of shortlisting companies, I finally found the next company that met my investment criteria, and that was Nextdoor.
Here is a summary for those unfamiliar with Nextdoor: Nexdoor is a hyperlocal social networking service for neighborhoods. The company was founded in 2008 and launched in the United States in October 2011 and is currently available in 11 countries. Sarah Friar is the CEO of Nextdoor, and before Nextdoor, Sarah served as a chief financial officer at Square. Under Sarah’s leadership, the company launched its initial public offering in 2015 and added $30 billion in market capitalization.
The great part of Nextdoor’s product is its potential and advantage to disrupt other platforms because of its hyperlocal focus. Not only that, but the team also validated their business model in the united states. Nextdoor has 63 million registered users and generated $123M in 2020. With this SPAC merger, I think they will invest heavily in their product and expand to new markets.
I have a position because I love the vision and the team. However, please don’t take this is an investment advice.
That’s my thoughts, for now. Thanks for taking the time to read it. Congratulations again to the TradingView team for creating a platform where the world charts, chats, and trades markets.