A social media system that connects people today living in the exact neighborhoods declared a SPAC merger to help fund growth programs.
The SPAC Deal: Nextdoor declared a deal with Khosla Ventures Acquisition Co. II that values the enterprise at a professional forma fairness value of $four.three billion.
A PIPE of $270 million for the merger includes investments from T. Rowe Rate, Baron Money, Dragoneer, Tiger World wide, Hedosophia, and ARK Spend.
Shares of Nextdoor will trade with the ticker Sort soon after the merger is concluded.
Community KVSB shareholders will have 9.seven% of the new enterprise with PIPE buyers possessing 6.three%.
About Nextdoor: With a mission of connecting neighbors, Nextdoor offers a system for neighbors to join with businesses, general public providers, and people today living nearby.
Nextdoor is applied in about 275,000 neighborhoods globally. The enterprise has about 27 million weekly energetic consumers, according to its presentation.