Users of the neighborhood app Nextdoor were also denied access just a few days after the Instagram and Facebook outages that left billions without social media access. The outages caused many questions among users and the public.
Is this the cause of the outages? Are Nextdoor and Facebook-owned like Instagram or WhatsApp?
Nextdoor who owns it?
Facebook does not own Nextdoor. Nextdoor, which is currently owned privately by its founders Prakash Janakiraman and Sarah Leary, is currently owned by Nirav Tolia. In July, the company announced that it would merge with SPAC Khosla Ventures Acquisition Co II.
It is possible that the Nextdoor SPAC merger will take place soon. According to documents filed with SEC, KVSB submitted a registration statement with SEC on October 1, 2021. Nextdoor will become a public company once the merger is completed.
Nextdoor is valued at approximately $4.3 billion. According to documents filed with SEC, current holders of Nextdoor stock options receive 3.1047 shares in the new publicly traded Nextdoor. For each share of Old Nextdoor common stock they own, this is according to the documents.
The Khosla SPAC currently trades on Nasdaq as the ticker symbol KVSB. After the transaction is complete, the combined company will trade under the ticker sign KIND.
Facebook has a Nextdoor competitor called Neighborhoods.
While Facebook does not own Nextdoor, it launched its own app earlier in the year. The Neighborhoods section of Facebook’s app is almost identical to Nextdoor. You can communicate with your neighbors to complain about barking dogs or porch pirates or lost kittens.
“Facebook Neighborhoods” is a special space in the Facebook app that allows you to connect with your neighbors, take part in your local community, and discover new places near you,” the company stated in a May 5, blog post.
Facebook initially made Neighborhoods available for Canadians, with plans to expand it to select U.S. towns.
Tolia, Nextdoor’s CEO, retired in July 2018. He passed the reins to former Square CFO Friar. He remains on the company’s Board of Directors.
Tolia said that Nextdoor’s future was bright in an email to Nextdoor employees about his decision to retire. “We have never been better placed to reach our full potential as a company and force for good in this world.”
Nextdoor: How do you purchase stock?
After the merger between Nextdoor, the KVSB blank check company has been completed, shares can be purchased through any traditional or online broker. The ticker symbol “KIND” will be used to trade the company on Nasdaq.