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Nextdoor Surges in Public Market Debut After SPAC Merger

  • Stock rose 40% in first hour of trading before being halted
  • CEO wants Nextdoor to go global, add business accounts
Bloomberg business news
Nextdoor CEO Focused on Growth as Shares Surge in Public Debut

Investors gave Nextdoor Holdings Inc. a warm welcome to the public markets neighborhood. Shares of the localized social networking company surged 40% in its first hour of trading.

Nextdoor began trading Monday on the New York Stock Exchange under the ticker KIND after merging with the special purpose acquisition company Khosla Ventures Acquisition Co. II. The shares were temporarily halted and resumed trading with gains of more than 30% over the SPAC’s Friday closing price.