News

: Nextdoor stock rockets 17% in first trading day since completing SPAC merger

0

Shares of Nextdoor Holdings Inc. rocketed Monday in their first day of trading since the company closed its merger with a special-purpose acquisition company.

The stock increased 17% in Monday’s session. Nextdoor
KIND,
+17.00%

recently merged with Khosla Ventures Acquisition Co. II in a transaction that saw $674 million in gross proceeds, including $270 million from a fully committed private investment in public equity (PIPE).

The company runs a platform that lets neighbors connect with one another about local matters. Nextdoor has a presence in 280,000 neighborhoods.

Nextdoor is due to report third-quarter results after Wednesday’s closing bell. The company previously disclosed that it expects to report $52.7 million in revenue for the quarter, up 66% from a year earlier. The company’s average revenue per weekly active user was up 38% to $1.61 in the quarter. Nextdoor had 33 million weekly active users in the quarter, up 20% from a year prior.

The Wall Street Journal: McDonald’s CEO apologizes for texts to Chicago mayor in which critics say he blamed shooting victims’ families

Previous article

Roblox soars as it reports that revenue doubled in third quarter

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News