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How to buy Nextdoor stock when it goes public

Here's everything we know so far about the Nextdoor IPO.

Shannon Terrell
Shannon Terrell

Updated . What changed?

Fact checked

This neighborhood-oriented social network may be going public by IPO, direct listing or reverse merger. But nothing is set is stone and no word yet on its potential market, release date or share price.

What we know about the Nextdoor IPO

To be honest: not much. At least not yet. Most of what we know about Nextdoor’s potential listing is speculative — including how it plans to go public. The social network platform may file an IPO, direct listing or pursue a reverse merger with a blank-check SPAC.

Reports suggest Nextdoor is targeting a company valuation between $4 to $5 billion. According to PitchBook, it was worth $2.1 billion in 2019. To date, the platform has raised nearly $470 million.

We’ll continue to update this page as more information becomes available about Nextdoor’s IPO.

How to buy shares in Nextdoor when it goes public

Once Nextdoor goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.

  1. Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Nextdoor. Find the stock by name or ticker symbol. Research its history to confirm it's a solid investment against your financial goals.
  4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Nextdoor reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market's ups and downs. You may be able to buy a fractional share of Nextdoor, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of Nextdoor. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

Company history

Nextdoor was founded in 2011 and is headquartered in San Francisco, California. It operates as a social networking platform for neighborhoods: a place for community members to connect, share news, make recommendations and support local businesses. It makes money through sponsored ads, local business deals and neighborhood sponsorship from real estate agents and home service providers.

Today, 1 in 4 US neighborhoods use Nextdoor. The platform is available in 11 countries and connects over 268,000 neighborhoods around the world.

In March 2020, the platform’s daily active users rose 80% month-over-month as Nextdoor focused on safety updates and the support of elderly neighbors and small businesses. But it came under fire in the wake of the Black Lives Matter movement when it was discovered that local Nextdoor moderators were banning posts that used #blacklivesmatter.

In response to criticism that it failed to moderate the racial profiling present on its platform, Nextdoor released a statement in June 2020 to its millions of members. In the statement, Nextdoor’s CEO, Sarah Friar, condemned racism and outlined how Nextdoor plans to tighten community moderation and increase organizational diversity. It also released a new feature called a Kindness Reminder to help reduce abusive posts.

It’s impossible to predict how this, or other potential future scandals, could affect Nextdoor’s stock once it goes public. But scandals often lead to volatility, so it may be worth researching the company further to see how they’ve handled other sensitive issues.

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Nextdoor can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

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The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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