KIND INVESTOR NOTICE

Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Nextdoor Holdings, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Case

Robbins Geller Rudman & Dowd LLP announces that purchasers of Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II (NYSE: KIND) publicly traded Class A common stock between July 6, 2021 and November 8, 2022, both dates inclusive (the “Class Period”), have until April 29, 2024 to seek appointment as lead plaintiff of the Nextdoor class action lawsuit. Captioned Adamo v. Nextdoor Holdings, Inc., No. 24-cv-01213 (N.D. Cal.), the Nextdoor class action lawsuit charges Nextdoor, certain of Nextdoor’s current as well as former top executive officers, Khosla Ventures LLC, and Khosla Ventures SPAC Sponsor II LLC with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Nextdoor class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-nextdoor-holdings-inc-f-k-a-khosla-ventu ...

You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [e-mail]. Lead plaintiff motions for the Nextdoor class action lawsuit must be filed with the court no later than April 29, 2024.

CASE ALLEGATIONS: Nextdoor operates a hyperlocal online social networking platform that connects neighbors, public agencies, and businesses via the internet. Nextdoor was created through the November 5, 2021 merger of a privately held company called Nextdoor, Inc. and a publicly traded special purpose acquisition company (SPAC or blank-check company), then called Khosla Ventures Acquisition Co. II (“KV Acquisition Co.”), with KV Acquisition Co. serving as the surviving entity and changing its name to Nextdoor Holdings, Inc. after the merger.

The Nextdoor class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Nextdoor’s financial results prior to the merger had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled forward demand for Nextdoor’s platform and cannibalized future advertising revenue growth; (ii) rather than being sustained, such growth trends had already begun reversing at the start of the Class Period; (iii) Nextdoor’s total addressable market was materially smaller than the 312 million households represented to investors; and (iv) by the start of the Class Period, Nextdoor’s most important market – the U.S. market – was already substantially saturated, impairing Nextdoor’s ability to monetize users and increase its average revenue per weekly active user (“ARPU”) or U.S. weekly active users (“WAUs”).