Nextdoor Surges in Trading Debut

Shares in Nextdoor Inc. surged Monday in their first day of trading as the free social-networking app aimed at connecting local neighborhoods began life as a public company.

The San Francisco-based company that was founded a decade ago made its name helping people scout locally for dog walkers or gripe about neighbors. During the height of the pandemic, with people stuck at home, users took to the platform to check on and stay connected with their neighbors. User numbers shot up to 58 million last year from 48 million in 2019. They grew to 63 million by mid-2021.