Well, Nextdoor and NXDR had an interesting couple of days.
Yesterday, NXDR closed at $2.44. Today, ahead of the quarterly earnings report, the stock was trading at $2.12. That's a drop of more than 13%.
Then came the earnings report.
The results were pretty much what I expected: a smaller loss, but still a loss; increases in Weekly Active Users (WAU), revenue, and adjusted EBITDA.
The numbers had some positives. But there was something missing.
A dividend for shareholders.
More activity, more revenue, but what about the shareholders?
Let's look at the situation.
Weekly Active Users are increasing. Revenue is increasing. The company's losses are getting smaller. Adjusted EBITDA is improving.
Management can point to all of that as progress.
But what does the average investor get out of it?
I have to wonder whether Nirav and the rest of the C-suite team will be rewarded with bonuses for the quarter's performance. I don't know their compensation arrangements or bonus results, but shareholders should be able to understand executive compensation.
And if the leadership team is being rewarded for improving performance, why shouldn't the people who have invested in the company see some benefit?
Why not a dividend?
Now, I understand that dividends aren't automatic. Companies have to consider profitability, cash flow, capital needs, and future investment before deciding whether to distribute money to shareholders.
But it's a fair question: At what point does improved performance translate into a tangible return for the average investor?
If WAU is up, revenue is up, losses are narrowing, and management is celebrating progress, shouldn't shareholders eventually get to share in the rewards?
The average Joe is putting money into the company, too.
Who actually creates the content that brings people to Nextdoor?
I want to revisit something I've raised before: Should social media platforms compensate the people who create the content that drives traffic to their sites?
Think about what Nextdoor is without its users.
No one posts about a lost dog. No one asks for a plumber recommendation. No one shares a neighborhood event, a local warning, a community announcement, or a funny observation about the neighbors.
What happens?
People have fewer reasons to visit.
If people stop visiting, advertisers have fewer reasons to spend money on the platform. And if advertisers pull back, revenue is affected.
The content is the fuel that keeps these platforms moving.
Yet the people creating that content generally aren't compensated for the value they help generate.
I'm not suggesting every person who posts a neighborhood update should receive a paycheck. A thoughtful model, clear eligibility, and a way to measure meaningful contributions would be needed.
But it's worth asking whether platforms should share a portion of the value generated by the people who keep their communities active.
The platform provides the technology. Advertisers provide the money. But users provide much of the content and activity that attract the audience in the first place.
Why shouldn't we reconsider that relationship?
Thank you, Nirav, for not answering my email
And now, let's get to Day 144.
Last week, I sent another email to Nextdoor leadership. Once again, no response.
So I'd like to thank Nirav Tolia, Jacob Chavis, and the rest of the Nextdoor C-suite.
Thank you for not answering my emails.
Thank you for not engaging in the conversation.
Thank you for giving me plenty of material to write about.
While waiting for a response, I learned something I didn't know much about before: building a website and attracting an audience.
Not a social media platform. A website.
My own website.
From barely 200 visitors to 9,400 unique visits
Two months ago, NielFlamm.com was getting barely 200 unique visits a month.
Today, as of this blog post, the site has reached 9,400 unique visits.
That's a significant change, and it didn't happen by accident.
I've been learning about:
Search Engine Optimization (SEO)
Writing titles that encourage people to click
Creating effective meta descriptions
Unique visitors and page views
Bounce rates and visitor behavior
Writing content that resonates with people
Keeping content relevant and timely
Understanding what brings visitors to a website
I've also learned that simply publishing something isn't enough. You have to think about the audience, the subject, how people find your content, and whether what you're writing gives them a reason to stay and explore.
I've been experimenting, learning, adjusting, and publishing.
And here's the interesting part: I'm doing this as someone who started out with very little knowledge of how to create a website, attract visitors, or build an audience that could eventually support advertising.
I'm still learning. I have plenty more to figure out.
But going from barely 200 unique visits a month to 9,400 is something worth celebrating.
Nextdoor reports a 14% increase in Weekly Active Users. That's a meaningful metric for a social platform.
My website is measuring something different: people finding and visiting content I've created independently.
I'm not comparing the two metrics as if they're interchangeable. They're not. But I am demonstrating that an individual can build an audience by creating relevant content, learning how search works, and consistently giving people something worth reading.
And I'm doing it without a multimillion-dollar platform behind me.
The irony isn't lost on me
I've spent months asking Nextdoor questions about transparency, moderation, research, advertising, customer experience, and the value it delivers to users and small businesses.
I've asked for information. I've offered feedback. I've invited conversation.
The response? Silence.
But that silence has pushed me to learn new skills, build my own website, improve my content, and develop an audience.
I started this case study because I had questions about Nextdoor.
Now, I have a growing website, a better understanding of digital marketing, and a much clearer picture of what it takes to attract visitors online.
And I'm not finished.
So, thank you, Nextdoor
Nirav Tolia, Jacob Chavis, and the rest of the Nextdoor leadership team:
Thank you for ignoring me and giving me content to host on my own site.
You may not want to engage with my questions, but you've certainly given me plenty to write about.
NXDR may have had a rough day in the market, and the latest earnings report may give management some positive talking points. But the questions about shareholder value, user-generated content, transparency, and accountability aren't going away.
Meanwhile, I'll keep learning, publishing, and growing NielFlamm.com.
Day 144. You didn't answer my email. But you helped me build an audience.
Who knew?
