Nextdoor Holdings (KIND) is a social networking platform for local communities. The platform allows residents of a neighborhood to connect and communicate with each other, share information about local events, and exchange recommendations for local services. The platform is designed to be a private and secure online community for each neighborhood, accessible only to verified residents. Nextdoor was founded in 2008 and is headquartered in San Francisco, California. In 2021, the company became a public company through a merger with SPAC Social Capital Hedosophia Holdings Corp. V and began trading on the New York Stock Exchange under the ticker symbol “KIND.”
as of February 7, 2023
Nextdoor spends way too much on research and development. That expense alone is 68% of gross profit, which stands at 83%. In other words, Nextdoor needs new management because it should be profitable. Market capitalization around $900 million, with a net cash position approaching $550 million, investors are really paying just $250 million for the entire business. That is roughly 1.1 times annual revenue or 0.40 times tangible book value. Someone is going to figure this one out and there’s plenty of runway before the company does.
