I
N D KIND JOINING ME NOW IS
SARAH FRIAR CEO OF NEXT DOOR
AND SARAH WHY IS NEXT DOOR
GOING PUBLIC. THE A SPECK IN
NOT THE TRADITIONAL I P O RAP.
>> SHIRT SO FIRST OF ALL WHY GO
PUBLIC NUMBER ONE WE THINK WE
RAISE MONEY RIGHT NOW WE CAN
REALLY
DEPLOY IT AND IN I AFFECTED WHY
BEEN GROWING AT
ITS MEMBERS. LET ME TAKE YOU TO
THE PANDEMIC KANSAS WITH 15%
YOU'RE THE AIR LAST YEAR SECOND
WE'RE READY TO BE A PUBLIC
COMPANY. THIS BEFORE THE NEXT
TORY DEAFENING READY TO RUN
THAT'S NOT WHAT THE FIRE AND
THEN 3RD AND FINALLY AS THE
MARKET READY FOR US AND WHAT WE
FOUND THIS CONTEST OF THE
MARKET BOTH AS THE SUSPECT THAT
THE MARKET WAS SAYING YES WE'VE
SEEN THAT
IN THIS OUTCOME OF US BACK SO I
THINK GREAT VALUATION PRICE
CERTAINTY RIGHT NOW THE DEAL
GETTING TO WORK WITH A PARTNER
IT BRINGS MORE THAN JUST
CAPITAL TO THE TABLE.
>> I KNOW IF YOU NOTICE THERE
SAYS ONE OUT OF 3 HOUSEHOLDS IN
THE U.S. USE NEXT DOOR IT'S
FAIRLY BIG WHAT ARE YOU
PLANNING TO TRY TO GROW BAT.
IT WORLD WHILE A GLOBAL SCALE.
>> YES SO TODAY WE'RE IN
11 COUNTRIES AND WHAT WE SEE IN
THE U.S. IS NETWORK NEXTDOOR IS
TRULY NETWORK BUSINESS. THE
MORE PEOPLE THAT JOINED THE
PLATFORM, THE RICH SURE THE
CONTENT BOOK. MORE ENGAGED
MEMBERS ARE AND SO GROWTH BIG
APPS ROAD. SO WE KNOW FIRST OF
ALL THERE'S JUST STILL QUITE
A RUNWAY. IN THE U.S. AS I SAY
EVERYONE IS A NEIGHBOR I WOULD
LIKE THAT TO BE ALL HOUSEHOLDS.
I DECIDE THE U.S. WE'RE
BEGINNING TO BUILD IN
MANY COUNTRIES. UK WHERE IN ONE
IN 6 HOUSEHOLDS. WE KNOW TO
BRING THAT UP TO USE ONLY ONE
IN 3 CANADA IS OUR YOUNGEST
COUNTRY AND OUR THATS JUST
ROLLING SPEED INCREDIBLE TO SEE
COMEDIAN NEIGHBORS USING THE
PLATFORM
TO PLAY RIGHT NOW IF THEY THEY
LOOK FOR VACCINES.
AND OF COURSE WE WANT TO TAKE
THIS GLOBAL NEXT DOOR SHOULD BE
A GLOBAL PLATFORM.
WE KNOW WE RESONATES ACROSS THE
WORLD AND SO IT'S
REALLY MORE AP A WHEN NOT AN
APP THAT WE TAKE THE WHOLE
PLATFORM TO A GLOBAL STAGE.
NOW GROWING IS JUST ONE
PORTION BUT.
>> YOU KNOW USER ENGAGEMENT IS
MASSIVE HOW ARE YOU TACKLING
THAT.
>> COURSE WHEN PEOPLE COME NEXT
HOUR WE NEED TO MAKE SURE THAT
WE DO THE JOB THAT THEY'RE
LOOKING FOR THAT MOMENT
IN TIME SOMETIMES IT'S A REALLY
HIGH QUALITY MOMENT, RIGHT
THERE COMING TO LOOK FOR
SOMETHING LIKE A
LOCAL PLUMBER. MAYBE WHY THAT
MOVE TO A NEW NEIGHBORHOOD AND
THEY WANT TO KNOW THE BEST
PLAYGROUND FOR THEIR KIDS.
SOMETIMES THEY COME BECAUSE
THEY'RE LOOKING FOR TRUSTED
INFORMATION AND SO WE WORK A
LOT WITH PUBLIC AGENCIES YOU
KNOW FROM THE LOCAL FIRE
DEPARTMENT ALL THE WAY UP TO
FEMA GETS THAT A LOT OF WORK
THIS WEEKEND DOWN
IN FLORIDA 4 TO PLAY WITH THE
TROPICAL STORM POTENTIALLY
HURRICANE COMING IN, BUT THEN
BECOMES ALSO GREAT COMMUNITY
THAT'S A BIG PART OF OUR
PURPOSE EXPIRE TICKER IS KIND
BECAUSE WHEN PEOPLE COME THEY
CREATE CONNECTIONS ONLINE.
BUT TAKE IT INTO THE OFFLINE
WORLD WE THINK THAT'S
INCREDIBLY IMPORTANT TO
STRENGTHEN NEIGHBORHOODS TO
MAKE NEIGHBORHOODS RESILIENT
AND IT'S A BIG PART OF OUR
PURPOSE.
>> AND OTHERS ALSO BIG THING AS
PRIVACY SO HOW ARE YOU DEALING
WITH YOU KNOW PRIVACY RACIAL
PROFILING AND I KNOW THAT'S A
BIG ISSUE SO HOW ARE YOU
DEALING
WITH THAT.
>> YES SO AT ITS CORE NEXT
DOOR'S FOUNDED INTEREST.
SO UNLIKE OTHER TOP WARMS WE
VERIFY WE CONFIRM THAT YOUR
REAL NEIGHBOR, A REAL ADDRESS
WE ASK YOU TO USE YOUR
REAL NAME. AND THESE ARE REAL
PICTURES SO WE THINK THAT
STARTS THAT MOMENT OF
ACCOUNTABILITY AND OF COURSE
IN LOCAL. IT IS HARDER TO BE
REALLY TOXIC BECAUSE THOSE ARE
PEOPLE YOU'RE GOING TO BUMP
INTO YOU MAY BE ON THE SIDE OF
YOUR KID'S
SOCCER GAME. SECOND WE DO USE
TECHNOLOGY TO SLOW PEOPLE DOWN
SO WE'VE BEEN WILLING TO MAKE
TRADEOFFS ON ENGAGEMENT TO MAKE
SURE THAT CONVERSATIONS THEY
RESPECT WELL SO WE DO THINGS
LIKE KINDNESS REMINDER
WORKING WITH BEHAVIORAL
SCIENTISTS OUT OF STANFORD WE
RECOGNIZE THAT IF YOU SLOW
PEOPLE DOWN AND REMIND THEM
THAT AND THIS
IS IMPORTANT. THEY ACTUALLY
TYPICALLY WILL ACT BETTER THEY
STILL HAVE THOSE TOUGH
CONVERSATIONS. THAT'S IMPORTANT
RIGHT NEXT DOOR IS NOT A POP
UP ALL YOU'RE WITH YOUR
NEIGHBORS, YOU
CAN PACK. BUT WANT YOU TO DO IT
IN A WAY WHERE YOU'RE BEING
RESPECTFUL AND ROUGHLY
REMEMBERING HOW TO BE KIND EVEN
TOUGHER FROM A MODERATION
PERSPECTIVE, HE'S A LOT OF
LOCAL MODERATORS BECAUSE WE
THINK THE LOCAL CONTACT IS
INCREDIBLY IMPORTANT.
>> FRANCE BEING A VOCAL ON NEXT
DOOR, IT'S HUGE FOR LOCAL
BUSINESSES AND ADVERTISING ARE
YOU DOUBLING DOWN ON THAT
WHAT'S GOING
ON THERE.
>> YES THE THE LAST COUPLE
YEARS WE REALLY DUG
INTO BUSINESSES OVERALL BUT AS
USE THAT LOCAL BUSINESSES AND
LOCAL BUSINESSES CAN GO FOR
LITERALLY THE WAL-MARTS OF THE
WORLD, THE CBS MCDONNELL.
ALL THE WAY DOWN THE KIND OF
MOMENT UP SHOP ON THE CORNER
COFFEE SHOP. THE LOCAL PLUMBER
RIGHT THERE'S A LOT THAT GOES
ON AROUND YOUR HOME, IF YOU
JUST TAKE STOCK OF IT.
AND IN FACT THINGS LIKE NEW
MOVERS NEXT DOOR IS THE BEST
PLATFORM FOR A NEW LIVER TO GET
ANOTHER NEIGHBORHOOD. WIND IS
LOCAL PEOPLE THAT WILL HELP
THEM GET THEIR HOUSE UP AND
GOING. SO YES WE'VE BEEN
INVESTING IN MAKING SURE THAT
LOCAL BUSINESSES COMPOSED TO
THE PLATFORM. THEY CAN DO A
LOCAL DEAL THEY CAN SPONSOR
PART OF THE NEWS FEEDS. THOSE
ARE WHAT WE
CAN MONETIZE BUT IT'S HOW THOSE
BUSINESSES GET TO THEIR MOST
IMPORTANT CUSTOMERS THE PEOPLE
CAN LITERALLY WALK IN THE DOOR
SPEND MONEY TO PUT THEIR
BUSINESS ON A GREAT TRUMP AND
LASTLY WHAT ARE YOU LOOKING
FORWARD.
>> MOST HAS THE LISTING
APPROACHES.
>> SO I THINK YOU KNOW FOR US
IT'S A MILESTONE IT'S ACTUALLY
NOT THE DESTINATION SO I DON'T
KNOW IF I'M LOOKING FORWARD TO
SOMETHING ABOUT
THE LISTING CHRIS I I TO BRING
IN THOSE PROCEEDS FRED,
686 MILLION OF GROSS PROCEEDS
BECAUSE THAT BIG FUEL TO THE
FIRE FOR NEXT OR
WHAT WE PROVEN THAT WE ARE A
BUSINESS MODEL WHERE PEOPLE
WANT TO COME PROVIDE SIDE UNTIL
A T WE'VE SEEN IN OUR GROWTH
THROUGH THE LAST COUPLE OF
YEARS. NOW IS DEFINITELY THE
TIME TO ADD OXYGEN