{"id":28579,"date":"2025-01-15T11:58:47","date_gmt":"2025-01-15T11:58:47","guid":{"rendered":"https:\/\/peraltafinancing.com\/advertising\/nextdoor-names-new-cro-as-part-of-broader-turnaround\/"},"modified":"2025-01-15T11:58:47","modified_gmt":"2025-01-15T11:58:47","slug":"nextdoor-names-new-cro-as-part-of-broader-turnaround","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=28579","title":{"rendered":"Nextdoor Names New CRO as Part of Broader Turnaround"},"content":{"rendered":"


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The social platform<\/a> Nextdoor named executive Michael Kiernan as its new chief revenue officer on Wednesday, part of a broader bid from the company to reinvent itself and its advertising business under refreshed leadership.<\/p>\n

Kiernan, who first joined Nextdoor in 2018, has served as CRO on an interim basis since April. In his newly official capacity, Kiernan will oversee teams responsible for sales, client services, and operations.<\/p>\n

\u201cMeeting your customers where they are has never been more important, and Nextdoor has a tremendous opportunity to continue providing differentiated advertising value,\u201d Kiernan said. \u201cIt is a privilege to join the leadership team at Nextdoor at a pivotal moment for the company.\u201d\u00a0<\/p>\n

The appointment comes after the return of chief executive Nirav Tolia, who rejoined Nextdoor as CEO and a member of the board in May 2024. Tolia cofounded Nextdoor in 2010 and served as its first CEO until December 2018.\u00a0<\/p>\n

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When Tolia returned, he replaced then-CEO Sarah Friar, who led the company through the pandemic and took it public via a special purpose acquisition company in November 2021. Friar is now the chief financial officer at OpenAI.\u00a0<\/p>\n

In conjunction with Tolia\u2019s return, Nextdoor also parted ways with its then-CRO and chief marketing officer, Heidi Andersen. After partnering with executive search firm Daversa to fill the role, the company chose instead to elevate Kiernan as an internal candidate.<\/p>\n

Together, Kiernan and Tolia have set about reinventing the 15-year-old company, a process that involves reimagining its content offering, technology platform, and advertising strategy.\u00a0<\/p>\n

To support the effort, the company also hired a new chief design officer, Georg Petschnigg, in November. Before joining Nextdoor, Petschnigg most recently served as the head of product design at The New York Times, where he led the redesign of its flagship mobile app.<\/p>\n

In its latest earnings report in November, the company reported a loss of $15 million on quarterly revenues of $66 million. Its revenues, which come almost exclusively from advertising, rose 17% year over year, and its net loss shrunk by $23 million. It has roughly 46 million weekly active users and more than 88 million registered users.<\/p>\n

The turnaround Nextdoor<\/strong><\/h4>\n

The company began its turnaround initiative, called NEXT, in April. It\u00a0focuses on three core elements, according to Tolia: surfacing more high-quality content, organizing information more intuitively, and new design.<\/p>\n

To help realize those goals, the company has taken a number of steps. First, it has worked to build out its proprietary adtech stack, which has enabled it to operate more efficiently and offer clients improved features such as enhanced targeting and measurement.\u00a0Native technology also improves the quality of ad products the company can offer, enhancing its overall design.<\/p>\n

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In April 2022, Nextdoor unveiled its self-service ad platform<\/a>, Nextdoor Ads, which now generates 50% of its total ad revenue, according to Kiernan. Although the company has not yet finished building out its proprietary stack, around 85% of its business already runs on the new platform.<\/p>\n

Second, the company is now welcoming third-party and professional content creators to create profiles on the platform and organic content, according to Tolia. This marks a departure from Nextdoor\u2019s original content strategy, which relied almost exclusively on user-generated content.<\/p>\n

But the company, like other social platforms, has shifted its strategy to reflect the fact that users often welcome relevant content from people they do not know.\u00a0<\/p>\n

For Nextdoor, this means introducing content from publishers, such as local news organizations or affinity titles like Eater, according to Tolia. For publishers, whose social distribution has dwindled in recent years, the additional reach could prove a welcome change.<\/p>\n

\u201cThere are a bunch of people in your community that provide you helpful information\u2014whether or not you know them,\u201d Tolia said.\u00a0<\/p>\n

To illustrate, he pointed to the recent Los Angeles fires<\/a>, during which accurate information from local news sources and service providers has proven invaluable in helping residents navigate the situation.<\/p>\n

Finally, the company hopes to increase its utility to small businesses, which currently make up roughly one-third of Nextdoor\u2019s advertising business. The remaining two-thirds are split equally between enterprise brands and mid-market companies, according to Kiernan.<\/p>\n

It hopes to entice small business owners to advertise more by making it easier for them to build local audiences, reducing the friction needed for them to publish content and buy ads.<\/p>\n

\u201cNow that we are bringing more professional content into the feed, that has forced us to rethink our pitch to advertisers,\u201d Kiernan said. \u201cAs NEXT begins to land, that will open the door for us to do more with small businesses as neighbors.\u201d<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

The social platform Nextdoor named executive Michael Kiernan as its new chief revenue officer on Wednesday, part of a broader bid from the company to reinvent itself and its advertising business under refreshed leadership. Kiernan, who first joined Nextdoor in 2018, has served as CRO on an interim basis since April. In his newly official […]<\/p>\n","protected":false},"author":1,"featured_media":28580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12023],"tags":[13190,19437,19435,4125,19436,3341,10909,19438],"dealstore":[],"offerexpiration":[],"class_list":["post-28579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advertising","tag-broader","tag-cro","tag-media-news","tag-names","tag-nextdoor","tag-part","tag-platforms","tag-turnaround"],"yoast_head":"\nNextdoor Names New CRO as Part of Broader Turnaround - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=28579\" \/>\n<link rel=\"next\" href=\"https:\/\/fivemor.com\/?p=28579&page=2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nextdoor Names New CRO as Part of Broader Turnaround - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"The social platform Nextdoor named executive Michael Kiernan as its new chief revenue officer on Wednesday, part of a broader bid from the company to reinvent itself and its advertising business under refreshed leadership. 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