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New Deal


Announced

Completed

Nextdoor went public via a SPAC merger with Khosla Ventures Acquisition II in a $4.3bn deal.

Financials

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Transaction Value£3,107m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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social networking service

hyperlocal social networking

Single Bidder

Acquisition

United States

Reverse Takeover

Private Equity

Friendly

Majority

Private

Online and Social Platforms

De-SPAC

Merger

Domestic

Completed

Synopsis

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Nextdoor, a hyperlocal social networking service for neighborhoods, went public via a SPAC merger with Khosla Ventures Acquisition II in a $4.3bn deal. The transaction included a $270m PIPE from T. Rowe Price, Baron Capital, Dragoneer, Soroban Capital, ARK Invest, ION Asset Management, Tiger Global and Hedosophia. "Nextdoor is a cutting-edge, category-defining company with tremendous growth potential. Importantly, their strong management team remains deeply committed to their purpose to cultivate a kinder world. We are proud to be listing on the NYSE under the ticker "KIND", and we look forward to continuing our partnership and accelerating Nextdoor's growth as a public company," Vinod Khosla, Khosla Ventures Managing Director.

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