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Nextdoor’s Nirav Tolia Thinks He Can Turn Things Around With AI; He Has a Lot Riding On It
In a candid conversation, Nextdoor CEO Nirav Tolia expressed his determination to transform the social network into a valuable platform that can attract and retain users. However, he acknowledged that this goal will not be easy, especially since the company is currently below $3 billion in market capitalization.
Tolia revealed that many institutional investors are barred from investing in companies of such scale due to their size restrictions. As a result, Nextdoor must slowly but surely attract more long-term investors and build a strong track record before they can consider expanding their investor base.
He emphasized the importance of proving the value of the company’s product by focusing on improving its user experience through AI-powered technology. This approach is crucial for attracting advertisers who will in turn drive revenue growth, ultimately leading to better financial metrics.
Tolia’s comments underscore the significant challenges he faces in transforming Nextdoor into a successful and sustainable business model.
Source: techcrunch.com
