Nextdoor Has Struck a Chord in Neighborhoods: Leary

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Oct. 29 (Bloomberg) -- Nextdoor co-founder Sarah Leary discusses the company's expansion plans and growth potential with Emily Chang on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

Cofounder.

You guys were not even looking for money, they came knocking on your door?

We were not out looking.

Instead, we had people come to us.

We were evaluating, can they add value?

We were blown away.

Some of the best investors out there.

One of the best investors in all of silicon valley can help us grow and build the company and scale it to the next level.

Another person who has seen great companies like linkedin and facebook, we felt like this was a unique opportunity.

Are you saying -- we are focusing on building a great product.

International is something that is in our sites.

We are enhancing our product development.

Was taking additional money, do you put additional pressure on yourself to have a bigger exit?

We feel this is a huge and meaningful opportunity and we want to see it through to its full potential.

This is following through on that and making sure we put ourselves in a position where we capitalize on this opportunity.

Let's talk about growth.

What numbers can you give me?

A year ago, we had 5500 neighborhoods across the country.

Fast forward to our two-year anniversary, last saturday, and we are at over 22,000 neighborhoods across the country.

We are seeing massive penetration in some of the major cities.

You guys have some cool halloween masks -- halloween maps.

In my neighborhood in san francisco, there are not a lot of people on nextdoor.

I did not see very many houses.

How do you tackle neighborhoods like that?

But there are some neighborhoods that have struggled over the years -- there are some neighborhoods that have struggled over the years.

Those move over to nextdoor pretty gradually.

Most neighborhoods across the country do not have any form of communication.

20% of americans do not know a single neighbor by name.

29% only know a few.

The vast majority of americans have no way to communicate with their neighbors.

Nextdoor fills that need.

We think we have struck a chord.

You guys are not focused on making money.

But you have talked about a local advertising product.

When might we see you guys start to hunker down?

We will look at that probably in the next year or so.

We are focused on building out the user experience and making it something every neighborhood in the country is using.

We think there is a big opportunity to tap into the local businesses and connecting them with local residents.

It has triggered talk of whether there is a bubble.

How would you respond to that?

Are we back in a bubble where investors are flocking to hot companies?

I do not want to speculate on other peoples valuations.

We have the most savviest investors.

These are people who do their due diligence.

One of the best analysts in the internet industry, they did their homework.

We feel like they invested in us because they want to be a part of building something great.

Congratulations, great to have you here on the show.

It is time for the bwest byte,

This text has been automatically generated. It may not be 100% accurate.

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