Khosla Ventures Acquisition Co II

Khosla Ventures Acquisition Co. II was a special purpose acquisition company (SPAC) incorporated in 2021 and based in Menlo Park, California. Formed by the venture capital firm Khosla Ventures, its management team included founder Vinod Khosla, CEO Samir Kaul, and CFO/COO Peter Buckland. The company was established to effect a merger, asset acquisition, or other business combination with a technology-focused company with large market opportunities and proprietary technology.

The company filed for a $400 million initial public offering (IPO) in February 2021 and began trading on the Nasdaq under the ticker symbol "KVSB" on March 24, 2021. The business model was that of a blank check company, raising capital through its IPO to finance the acquisition of a private company, thereby taking it public. This SPAC was one of several launched by Khosla Ventures around the same time.

On July 6, 2021, Khosla Ventures Acquisition Co. II announced a definitive agreement to merge with Nextdoor, Inc., a neighborhood-focused social media platform. The deal, which valued Nextdoor at a pro forma equity value of approximately $4.3 billion, was approved by the SPAC's stockholders on November 2, 2021. The business combination was completed on November 5, 2021. Following the merger, the combined entity was renamed Nextdoor Holdings, Inc. and began trading on the New York Stock Exchange under the ticker symbol "KIND" on November 8, 2021. The transaction raised approximately $674 million in gross proceeds to fund Nextdoor's growth initiatives.

Keywords: special purpose acquisition company, SPAC, blank check company, Khosla Ventures, Nextdoor, KVSB, technology acquisition, reverse merger, public offering, capital investment, Vinod Khosla, Samir Kaul, business combination, PIPE financing, venture capital, social network merger, IPO, Nasdaq, NYSE, de-SPAC