Nextdoor

How it happened

Nextdoor is a hyperlocal social network connecting neighbors and local communities, valued at ~$5B when it listed via SPAC in 2021. After going public, weak user growth and broader pressure on consumer-internet stocks drove a steep market-cap decline; it now trades around $0.6B (NXDR), roughly 88% below its peak. Glassdoor reviews from the post-IPO years track morale sliding with the share price: employees said their stock grants had lost most of their value, pointed to a late-2023 round that cut about a quarter of staff, and described friction over a return-to-office mandate and product and ad-revenue strategies that were repeatedly reshuffled.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.