Benzinga | Nov 8, 2021 10:05AM EST

Nextdoor Goes Public Via SPAC Merger; Begins Trading Today

* The neighborhood network Nextdoor, Inc (NYSE:KIND) will begin trading from November 8 following its special purpose acquisition company (SPAC) merger with Khosla Ventures Acquisition Co II (NASDAQ:KVSB).

* The combined entity will begin trading on the NYSE under the symbol "KIND."

* Khosla valued Nextdoor at $4.3 billion, the Wall Street Journal reports.

* Nextdoor connects neighbors to nearby neighbors, businesses, and public services, creating a highly engaged, hyperlocal network, building meaningful online and offline connections.

* "Through the KVSB trust proceeds and the fully committed private placement, we raised $674 million that will help us to fund long-term growth at scale and enable our purpose of cultivating a kinder world where everyone has a neighborhood to rely on," Nextdoor CEO Sarah Friar said. "We chose "KIND" as our NYSE ticker as kindness is core to Nextdoor's purpose.

* Nextdoor includes a feature similar to Meta Platforms Inc's (NASDAQ:FB) Facebook Marketplace, where users can sell furniture, clothes, and other items directly to their neighbors.