By all commonly held standards in Silicon Valley, Nextdoor is a success story — the local social network is valued at more than $1 billion and expects to be used by 90 percent of U.S. neighborhoods by the end of this year. But the company wouldn’t exist if not for a failure and a poem.
Speaking on the latest episode of Recode Decode, Nextdoor CEO Nirav Tolia recalled how he and his co-founder Sarah Leary initially developed Fanbase, an almanac of pro and college athletes, which Benchmark’s Bill Gurley invested in. But after a couple of years, the company fizzled and they went back to Gurley for a “humbling, embarrassing” conversation about failure.
[ Re/code ]