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Local Social Net Nextdoor Nabs $18M

Nextdoor, a social network for neighborhoods, has raised $18.6 million -- from Benchmark Capital, DAG Ventures, Greylock Partners and Shasta Ventures, among other investors -- at a reported valuation of more than $100 million. Since Nextdoor opened to the public last fall, the site has grown to more than 3,600 neighborhoods in the U.S., roughly doubling in size every three months, Nirav Tolia, Nextdoor co-founder and CEO tells Bloomberg. Currently, connecting users based on geographical proximity is not one of Facebook’s strong suites -- a fact that Nextdoor is obviously trying to exploit.

Read the whole story at Bloomberg »

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