Nextdoor ‘Antidote to the Metaverse’

“We are the antidote to the metaverse,” says Ms. Friar. “I am very concerned that we are all ‘behind the glass’ because all of our research points to the fact that when people lose this human interaction, it is bad for our mental health, and even our physical health.” feel really let down by technology, for example they don’t understand ‘newfangled stuff’, there are whole groups in our society that are really getting socially isolated, so we have to be careful.” The CEO added that Nextdoor — which runs an app that connects people to their neighbors — has always been a proponent of new technology in general. Ms. Friar is a former CFO of Square, where she worked closely with CEO Jack Dorsey, and is currently she is a board member at Slack and Walmart. “I will always look for the big platform shifts, because they create opportunities, and there are really interesting things you could do with augmented reality and neighborhoods. Maybe it’s glasses, maybe it’s your watch, but there are some interesting things we thought about internally to make a neighborhood even more dynamic.” Nextdoor listed this month on the New York Stock Exchange through a special acquisition company (SPAC) backed by Khosla Ventures, giving it a valuation of $4.3 billion ($5.95 billion), while shares rose 17 under the ticker KIND. percent on their first day of trading.She describes going public as “taking up the gauntlet,” Ms. Friar says that listing through a SPAC — also known as a “blank check” company — rather than a direct listing made Nextdoor “In our company I always think that the sooner you can get started the better,” she says. “And we wanted to work with real blue chip investors and in Khosla’s case it was a perfect fit. I’ve worked with (Vinod Khosla) at Square for seven years and he’s an incredible long-term thinker and a really good balance to the market who can often be 90-day thinkers. “SPACs definitely have a reputation problem and I don’t know if we’re going to be the exception that proves the rule or if we’re just an example for quality companies that this is another route to consider.” Nextdoor is now used by one in three US households, Ms Friar says, and one in 10 Sydney households, with 96 percent of Australian households located in a neighborhood that is active on the Nextdoor platform. The market is now approaching density for Nextdoor, which will focus on aggressive local growth after listing. “We want our members to be active, not just passive, and Australians are good at that, by the way,” she says. connections, local connections, and if you join the platform now, the chances that you already know the people there are significantly increased.” We know everyone is a neighbor and we’re making a lot of investments in Australia, and some new countries too intrude.”

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