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Venture Capital Startups

Nextdoor Valued at $2 Billion With New Financing

Nextdoor, a social media platform that connects neighbors, announced $123 million in new funding led by private equity firm Riverwood Capital on Tuesday. The new financing, which also included contributions from existing investors Benchmark, Tiger Global and Kleiner Perkins, values the company at $2 billion, reports the Wall Street Journal.

Benchmark partner Bill Gurley said in an interview with the Wall Street Journal that investors are enthusiastic about the social media startup in large part because of its chief executive officer, Sarah Friar, who joined Nextdoor from Square late last year. “Sarah Friar may be one of the best CEOS that the Valley’s ever seen,” he said. “CEOs are usually good at a few things but not the full package.”

Ms. Friar said in a blog post that the company plans to expand globally, with the network launching its platform to neighborhoods in both Denmark and Sweden this week.

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