$18.6 million of funding changes the outlook for NextDoor. Their product facilitates local communities to create much needed neighborly communication.
In a rush of ideas, the company has attracted serious interest and funding from companies such as DAG Ventures, Greylock Partners, Pinnacle Invest Group, Shasta Ventures, Benchmark Capital and Allen & Company.
As often seen, many start-up social networking companies can initially struggle, however, with NextDoor already being used in 3500 communities within the United States, this is no fledgling company.
NextDoor acts as a portal through neighbors to involve the community to share information, this can be from local rents or sales of all descriptions from real estate to cars or bikes, on to communities like crimes, lost pets and much, much more.
The next door for NextDoor, that many thought would be too far, is the city. Will this business model for the company that looks for further expansion than just the local community be successful?
Competition is rife in the market with OhSoWe and DeHood, but the market likes what it sees.
The company was founded in 2010 with a long-term view. NextDoor looks to make money by working with local businesses and adds ‘special offers’ on top.
One of the more interesting developments to come out of the rise of social media is the fact that people are networked in totally different ways than in previous generations. The church group, bowling league, and volunteer club of yesteryear are now Facebook, Twitter, and Pinterest. The upside of that is that far-flung friends and relatives can stay connected like never before. The downside is that people don’t know their next-door neighbors anymore. NextDoor aims to bridge that gap by being a private social network for neighbors.