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Facebook Building Neighborhood Feature as Nextdoor Eyes IPO

  • Product for local connections is being tested in Canada now
  • Nextdoor is considering options, including a public offering
Bloomberg business news
Why Nextdoor Chose to Go Public via SPAC
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Facebook Inc. is building a feature for users of its social network to connect with their neighbors, a push toward more intimate interactions that treads on the idea behind rival Nextdoor Inc., which is considering a public offering.

Screenshots of Facebook’s new feature, which is currently being tested, were shared on Twitter Tuesday by Matt Navarra, a social media consultant. The images show a product called Neighborhoods, where users can enter their address and complete a unique “neighbourhood profile.” A Facebook spokeswoman confirmed the company is testing the feature in one market: Calgary. The screen grabs show the software using the Canadian English spelling of its name.