More than 75% of households in the United States use the Nextdoor app and web platform to connect with their neighbors. Now, Nextdoor is planning to expand its useful platform internationally in the near future, with its eyes set on India.
That vision is still just a gleam in the eyes of Nirav Tolia, Indian Amerian founder and CEO of Nextdoor. In an interview June 10 — timed so that he could put his three young sons down for an afternoon nap — the San Francisco, the California-based entrepreneur told India-West: “We’re excited about India as a potential market.”
“It’s no time soon, so we don’t have a defined vision of India, besides knowing that it is a critical market for us,” he said.
Tolia, 45, launched Nextdoor in the U.S. in 2011, with co-founders Sarah Leary, Prakash Janakiraman and David Wiesen. The company is considered a tech unicorn with a market valuation of $1.5 billion, following a Series E financing round last December.
In 2015, Nextdoor made headlines with a valuation at $1.1 billion, without any revenue. The company has since added two revenue sources: currently, 5,000 realtors have purchased a monthly subscription to post real estate listings — targeted to the user’s neighborhood — to the platform.
Revenue is also based on in-feed advertising; 500 advertisers from many different industries have purchased the ads, according to Tolia.
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