Khosla Ventures Acquisition Co II up on $4.3 bln deal to take Nextdoor public

Nextdoor Holdings

06/07/2021 13:51

** Shares of special purpose acquisition company (SPAC)
 KVSB.O , backed by venture capitalist Vinod Khosla's eponymous
investment fund, up 3.4% at $10.25 premarket
    ** Stock set to open at over 1-month high
    ** SPAC to take Nextdoor, a social network that connects
neighbors, public in a $4.3 bln deal  urn:newsml:reuters.com:*:nL3N2OI2N8
    ** Nextdoor to use funds received from the deal to speed up
growth plans, including hiring and expanding into new
territories
    ** San Francisco-based Nextdoor generates revenue through
advertisements from large businesses, local home service experts
and others 
    ** KVSB went public in a $400 mln IPO in March   

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))