Nirav Tolia humorously acknowledges the ambitious $1 billion target set for Nextdoor's advertising business, admitting that the company is still far from this goal.
Tolia emphasizes the necessity to continuously deliver value to users, suggesting that a better product is essential to attract more advertisers and reach their revenue potential.
The ongoing initiative, dubbed "NEXT," aims to transform Nextdoor's user experience, focusing on creating more value for its user base rather than altering the platform's core identity.
Nextdoor users generally engage with the platform for specific needs, meaning the service experiences sporadic use; improving this experience is critical for the company's growth.
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