Nextdoor Holdings Inc

Overview

Nextdoor is the essential neighborhood network. Neighbors, public agencies and businesses use Nextdoor to connect around local information that matters in more than 340,000 neighborhoods globally, across 11 countries.

The Nextdoor platform fosters discussion focused on real-world utility and discovery, enables instant distribution of timely local information, and ensures trust and authenticity. This unique combination drives genuine, high-intent engagement, and helps neighborhoods thrive both online and in the real world.

Through innovative technology, a focus on relevant content, and a proprietary advertising platform, Nextdoor helps create vibrant communities while empowering businesses of all sizes to reach highly engaged audiences.

As of December 31, 2024, Nextdoor had more than 100 million Verified Neighbors,1 46 million Weekly Active Users (WAU) and reached 1 in 3 households in the United States.

Our Platform and Our Users

Nextdoor’s platform is used by neighbors, businesses, and public agencies in 11 different countries to foster stronger, more engaged communities. Neighbors use Nextdoor to stay informed on local news, events, and relevant discussions, discover and support local businesses, and exchange goods and services. Businesses leverage Nextdoor to connect with these engaged communities through Business Pages and targeted advertising, while public agencies rely on the platform to share real-time updates, critical alerts, and pertinent information.

On Nextdoor, neighbors, business, and public agencies engage through various features designed to strengthen local connections. The Feed delivers a dynamic, personalized stream of local posts, photos, discussions, and community updates tailored to each user. Our Search function bridges neighbors with businesses and resources, enabling users to discover local services, leave recommendations, and follow their favorite businesses, which we call Faves. With For Sale & Free neighbors can buy, sell, or donate items or offer services like dog walking.

Underpinning the Nextdoor platform is a rich local data set, including event details, recommendations, and insights into the interests and behaviors of neighbors and neighborhoods. This data powers Nextdoor’s unique local knowledge graph, enabling businesses to craft targeted advertising strategies while delivering relevant and engaging content to neighbors.

With continually improving artificial intelligence (AI) and machine learning (ML) capabilities, Nextdoor improves the relevance and timeliness of notifications, provides proximate and personalized local content, optimizes ad creation and delivery, and fosters meaningful community engagement. By seamlessly connecting neighbors, businesses, and public agencies, Nextdoor strengthens the social fabric of communities and brings local connections to life.

In 2024, we announced our NEXT initiative, a longer-term effort to transform our product into an essential local application that can enrich the lives of neighbors everywhere. NEXT aims to keep users informed through better local content, safe through timely and relevant alerts, and connected through the sharing of recommendations and collective wisdom.

Our Advertising Solutions

Nextdoor offers a comprehensive suite of advertising solutions designed to deliver exceptional value for businesses of all sizes. Our Nextdoor Ads Platform empowers businesses to connect with their local communities, build brand awareness, drive customer engagement, and generate measurable results. To help businesses achieve these goals, we provide a wide range of key features and benefits:

•Hyperlocal Targeting: Powered by our first-party data, Nextdoor’s unique neighborhood-level targeting capabilities enable advertisers to reach the right customers at the right time, ensuring their campaigns reach the most relevant audience and drive maximum impact.

•Diverse Ad Formats: We offer a variety of engaging ad formats, including sponsored posts, lead generation forms, native display ads, and video ads to cater to different marketing objectives and creative strategies.

1 Verified Neighbors are individuals who have joined Nextdoor and completed the verification process for their account.

•Brand Safety and Trust: Nextdoor maintains a safe and trustworthy environment for both users and advertisers. We have implemented strict brand safety measures and partner with independent third-party verification providers to ensure brand suitability and protect against fraud.

Ad Auction and Delivery

Nextdoor’s ad auction system prioritizes ad relevance, quality, and user experience. Our algorithms analyze various factors, including user interests, demographics and historical behavior, to select the most appropriate ads for each individual user. This ensures that ads are engaging, informative, and enhance the overall user experience.

Measurement and Attribution

Our comprehensive measurement and attribution tools give advertisers the insight they need to assess campaign effectiveness. With conversion tracking, advertisers can measure the impact of their ads on key performance indicators, such as website visits, lead generation, and online sales. We also offer advanced attribution modeling to help advertisers understand the customer journey and optimize their marketing spend.

Go-to-Market Approach

Nextdoor offers tailored solutions designed to meet the diverse needs and objectives of advertisers. Our go-to-market approach combines the power of our self-serve ads platform with the expertise of a dedicated global sales team. This hybrid approach allows us to cater to businesses of all sizes, from small local advertisers to large global brands.

Our self-serve platform empowers advertisers to independently manage campaigns with ease, offering tools for targeting, customization, and performance tracking. For advertisers with more complex needs, our global sales force delivers personalized support throughout the marketing lifecycle, including campaign planning, optimization, and performance analysis. Strategically positioned across markets, our sales team focuses on attracting and retaining advertisers while driving measurable outcomes across all ad products.

A Community First Approach

Nextdoor continually innovates to facilitate productive neighborhood conversations. We establish clear Community Guidelines, and use a combination of human moderators and advanced technology to cultivate civility and strengthen neighborhood ties.

To ensure authenticity, Nextdoor requires users to sign up using their real names and addresses, creating a network of real people. Businesses undergo a similar verification process to establish trust. Upon joining, new users accept our Neighbor Pledge, which introduces Community Guidelines and reinforces personal accountability.

As neighbors engage with the platform, a blend of human moderators and AI-driven solutions helps maintain a positive and productive environment. Tools like the Kindness Reminder and Constructive Conversations Reminders encourage respectful dialogue by analyzing tone and suggesting constructive edits. Generative AI tools further empower neighbors by helping them draft posts that inspire positive community engagement or revise comments on posts to align with Community Guidelines.

Local context is integral to our approach, which is why volunteer community reviewers are a core component of our moderation framework. Equipped with specialized tools, these active neighbors help enforce Community Guidelines in their neighborhoods. Reports of specific types of content, such as misinformation or discriminatory remarks, are handled by Nextdoor’s operations staff to ensure consistent enforcement of our standards and policies.

Technology and Innovation

Our continued investments in technology are dedicated to enhancing the products we offer to neighbors, business, and public agencies. At the core of our strategy is the use of AI and machine learning to deliver increasingly valuable experiences to neighbors and improving reach and performance to advertisers. By leveraging our unique data set, we have developed AI-powered features that personalize content distribution, increasing relevance and making posts more engaging and useful. We are also further investing in our proprietary ad platform to enhance advertising solutions for businesses of all sizes. This supports our goals of delivering greater advertiser value, reducing advertiser effort, and empowering businesses to thrive on Nextdoor. By prioritizing usefulness, trust, innovation, and customer value, Nextdoor is transforming the way people and businesses connect with neighborhoods worldwide.

Intellectual Property

Our intellectual property and core technological innovations are integral components of our business. To establish and protect our intellectual property, proprietary rights and brand, we rely on a combination of federal, state, and common-law rights in the United States and the rights under the laws of other countries, patents, trademarks, copyrights, domain name, trade secrets, including know-how, license agreements, confidentiality procedures, non-disclosure agreements with third parties, employee disclosure, and invention assignment agreements, and other contractual rights.

We own a trademark portfolio, including registered trademarks and applications in the United States and other countries, for the marks NEXTDOOR,, and. We have registered domain names that we use in or relate to our business, such as the <nextdoor.com> domain name and country code top level domain name equivalents. As of December 31, 2024, we had 10 issued patents in the United States. We cannot assure you that any of our patent applications will result in the issuance of a patent or whether the examination process will require us to narrow our claims. Additionally, our current and future patents, trademarks, and other intellectual property or other proprietary rights may be contested, circumvented or found unenforceable or invalid. We may not be able to obtain or maintain sufficient protection for or successfully enforce our intellectual property. We license content, technology, and other intellectual property from our partners, and rely on our license agreements with those partners to use the intellectual property. Third parties may assert claims related to intellectual property rights against our partners or us.

For additional information, please see the section entitled “Risk Factors — Risks Related to Intellectual Property.”

Talent Management and Development

Our Culture and Core Values

Community is at the heart of Nextdoor and our community of employees is the heart of the company. We are committed to attracting and retaining top talent by fostering an environment that promotes career growth and development. Our people practices are anchored in three core values:

•Build for community;

•Raise the bar; and

•Act like an owner.

We support these values and our workforce with competitive compensation, comprehensive benefits, and initiatives. By living these principles, we empower our people to thrive and contribute to the success of Nextdoor.

As of December 31, 2024, we had 546 employees in the United States and in our international locations in Canada, the United Kingdom, and France.

Talent Acquisition, Development and Retention

At Nextdoor, we prioritize the acquisition, development, and retention of talent at all levels of the organization. Our hiring managers, in partnership with the Talent Acquisition team, focus on recruiting the best people with a long-term vision for success. Each new hire undergoes a comprehensive, standardized process with a strong emphasis on behavioral-based interviewing, ensuring we select individuals who align with our values and goals.

Through our People Business Partner team, we invest in continuous development of our employees, offering resources that support career growth. We facilitate company-wide performance feedback and promotion cycles, along with employee recognition initiatives like our “Nextdoor Values Awards”. Our learning and development programs are designed to onboard new hires effectively and provide ongoing opportunities for skills development and compliance training.

To foster an environment where employees feel engaged, valued, and heard, we actively seek and respond to their feedback through surveys, one-on-one interactions, and “All Hands” meetings that bring the entire company together. By maintaining open lines of communication, we stay attuned to our employees’ needs, ensuring we continue to evolve as an employer of choice for both current and future team members.

Compensation, Benefits and Perks

We provide employees with competitive compensation packages designed to meet the diverse needs of our employees. In addition to base salaries, equity awards, and sales commissions for certain employees, these programs (which vary by country and region) include a 401(k) Plan with a company match, healthcare, vision, and dental insurance benefits, health savings and flexible spending accounts, flexible paid time off, and parental leave, and other benefits tailored to the specific needs of our employees such as family forming, caregiving and mental health resources. We also support and encourage our employees to give back to our communities by giving each employee “Volunteer Time Off” to dedicate to the causes that matter most to them.

Inclusion and Belonging

We strive to create a dynamic, inclusive environment that supports and values employees with a wide range of experiences and perspectives. Our Employee Resource Groups help foster a sense of community, strengthen connections, and contribute to a workplace where every employee feels valued.

People Operations

Our ongoing investments in technology platforms continue to help automate and customize the employee journey. Our People Operations team plays a key role in managing every stage of the employee experience, from onboarding to offboarding, and supporting the hybrid work environment that blends in-person and remote collaboration. They also provide valuable assistance in navigating the complexities of HR administration, including benefits, leave programs, and internal processes like job changes and promotions, ensuring a seamless and supportive experience for all employees.

Competition

We compete in almost every aspect of our business with companies that provide a variety of internet products, services, content, and online advertising. In addition, aspects of our platform compete with other products and services, including home services, classifieds, real estate, recommendations and search engines. Of these companies, we most directly compete with social media companies that offer local products to advertisers and users, including large companies such as Meta (including through Facebook and Instagram), Alphabet (including through Google), and other companies that provide home services, classifieds, real estate, recommendations, and search engines. As we introduce new products, as our platform evolves, or as other companies introduce new products and services, we may become subject to additional competition in other countries.

We compete with other companies to attract, engage, and retain users and their time and attention. We also compete with other companies to attract and retain advertisers, which depends on our reach and ability to deliver a strong return on investment. Finally, we compete to attract and retain highly talented individuals, particularly software engineers, designers, and product managers.

For additional information, see the section entitled “Risk Factors — Our business is highly competitive. Competition presents an ongoing threat to the success of our business.”

Government Regulation

We are subject to many U.S. federal and state and foreign laws, regulations, and industry standards that involve matters central to our business, including laws and regulations that involve data privacy, security and protection, intellectual property (including copyright and patent laws), content regulation, rights of publicity, advertising, marketing, health and safety, competition, protection of minors, age verification, consumer protection, taxation, anti-bribery, anti-money laundering and corruption, telecommunications, AI and machine learning, and securities. Our business may also be affected by the adoption of any new or existing laws or regulations or changes in laws or regulations that would adversely affect the growth, popularity or use of the internet; significantly restrict or impose conditions on our ability to collect, store, augment, analyze, use and share data; augment consumer notice or consent requirements before a company can utilize cookies or other tracking technologies; or increase the liability of content platforms like us. These laws and regulations are constantly evolving and may be interpreted, applied, created, or amended, in a manner that could harm our business.

We rely on a variety of statutory and common-law frameworks and defenses relevant to the content available on the Nextdoor platform, including the Digital Millennium Copyright Act (the “DMCA”), the Communications Decency Act (“CDA”) and the fair-use doctrine in the United States, and the Electronic Commerce Directive in the European Union. However, each of these statutes is subject to uncertain or evolving judicial interpretation and regulatory and legislative amendments. For example, in the United States, laws such as the CDA, which have previously been interpreted to provide substantial protection to interactive computer service providers, have seen Supreme Court challenges and there have been legislative efforts to curtail the CDA’s protections. These efforts could expose us to lawsuits in which we could incur significant costs and could seriously harm our business. In addition, various countries around the world have adopted legislation, including the Digital Services Act (the “DSA”) in the European Union, the Online Safety Act 2021 in Australia, and the Online Safety Act in the United Kingdom, that may impose additional obligations or liability on us associated with content uploaded by users to our platform.

We collect, store, use, share, and otherwise process data, some of which contains personal information. We are therefore subject to U.S. (federal, state, local) and foreign laws and regulations regarding data privacy, security, and protection, which encompass the processing of personal information from users, employees, and business partners. These laws include, but are not limited to, the European Union’s General Data Protection Regulation (“EU GDPR”), the United Kingdom’s General Data Protection Regulation (“UK GDPR”), Canada’s Personal Information Protection and Electronic Documents Act (“PIPEDA”), Australia’s Privacy Act 1988 and the Australian Privacy Principles (“APPs”), and the California Consumer Privacy Act (“CCPA”) along with similar privacy laws enacted in other U.S. states. There are also a number of legislative proposals pending before the U.S. Congress, various state legislatures and foreign governments concerning content regulation and data protection that could affect us. These and other laws and regulations that may be enacted, or new interpretations of existing laws and regulations, may require us to modify our data processing practices and content moderation policies and incur substantial costs in order to comply.

The costs of complying with these laws and regulations, which in some cases can be enforced by private parties in addition to government entities, are high and likely to increase in the future, particularly as the degree of regulation increases, our business grows and our geographic scope expands. Further, the impact of these laws and regulations may disproportionately affect our business in comparison to our peers in the technology sector with greater resources. Any failure on our part to comply with these laws and regulations may subject us to significant liabilities or penalties, or otherwise adversely affect our business, financial condition or operating results. Further, it is possible that certain governments may seek to block or limit our products or otherwise impose other restrictions that may affect the accessibility or usability of any or all our products for an extended period of time or indefinitely.

We communicate with lawmakers and regulators in the countries and regions in which we do business. We have a dedicated policy team that monitors legal and regulatory developments and works with policymakers and regulators around the world to help ensure that our perspective is heard in matters of importance to us.

For additional information, see the section entitled “Risk Factors — Risks Related to Legal and Regulatory Matters.”

Corporate Information

Our principal executive offices are located at 420 Taylor Street, San Francisco, California 94102 and our telephone number is (415) 344-0333. Our website address is https://www.nextdoor.com. The information contained on, or that can be accessed through, our website is not incorporated by reference into, and is not a part of, this Annual Report. Investors should not rely on any such information in deciding whether to purchase our Class A common stock.

Nextdoor, the Nextdoor logo, and other registered or common law trade names, trademarks, or service marks of Nextdoor appearing in this Annual Report are the property of Nextdoor. This Annual Report contains additional trade names, trademarks, and service marks of other companies that are the property of their respective owners. We do not intend our use or display of other companies’ trade names, trademarks, or service marks to imply a relationship with, or endorsement or sponsorship of us by, these other companies. Solely for convenience, our trademarks and tradenames referred to in this Annual Report appear without the ® and ™ symbols, but those references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights, or the right of the applicable licensor, to these trademarks and tradenames.

Available Information

Our reports filed with or furnished to the SEC pursuant to Sections 13(a) and 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), are available, free of charge, on our Investor Relations website at https://investors.nextdoor.com/ as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. The SEC maintains a website at http://www.sec.gov that contains reports, proxy and information statements, and other information regarding us and other companies that file materials with the SEC electronically. Copies of our reports on Form 10-K, Forms 10-Q, and Forms 8-K, and amendments to those reports may also be obtained, free of charge, electronically through our Investor Relations website located at the web address appearing above as soon as reasonably practicable after we file such material with, or furnish it to, the SEC. We use our Investor Relations website as a means of disclosing material information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, and public conference calls and webcasts.

The content of our websites and information that we may post on or provide to online and social media channels and information that can be accessed through our websites or these online and social media channels are not incorporated by reference into this Annual Report or in any other report or document we file with the SEC, and any references to our websites or these online and social media channels are intended to be inactive textual references only.