Nextdoor Promotes Michael Kiernan to Permanent CRO
Portfolio - People | Jan 16, 2025 | Aim Group
Michael Kiernan has been promoted to the permanent role of Chief Revenue Officer (CRO) at Nextdoor, following a successful interim period that began in May 2024. Kiernan stepped in as a replacement for Heidi Anderson, who exited the company amid a significant executive reshuffle. With 15 years of experience in go-to-market roles, including positions at X (formerly Twitter), Turn, Yahoo!, and BrightRoll, Kiernan originally joined Nextdoor in 2018 and made notable progress within the company. His key responsibilities as CRO include leading sales, account management, and ad operations. Under his oversight, the Nextdoor Ads Platform aims to leverage first-party data for locally personalized ad targeting. His appointment, announced by CEO Nirav Tolia, marks a stabilizing moment for the company, which has faced considerable turnover, replacing nine out of ten leadership positions. Despite posting four consecutive quarters of losses in 2023, Nextdoor's recent financial performance indicates a turnaround, with Q3 2024 showing a double-digit revenue increase and the company's smallest net loss since going public, attributed to operational efficiencies introduced by Tolia's renewed leadership. Nextdoor's core competency lies in targeted advertising, maintaining a free classified section to bolster user engagement and traffic.
Sectors
- Tech and Internet Services
- Advertising
Geography
- United States – Nextdoor is based in the United States, and its executive changes and financial results are discussed in the context of the U.S. market.
Industry
- Tech and Internet Services – The article centers on Nextdoor, a neighborhood networking app company involved in targeted advertising, which falls under the tech and Internet services sector.
- Advertising – Nextdoor's business model hinges on targeted advertising, using first-party data to tailor ads, thus categorizing it within the advertising industry.
Financials
- 15 million – The net loss reported by Nextdoor for the Q3 2024, which is the company's smallest since going public.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nextdoor | Company | Target Company | A neighborhood networking app company that focuses on locally targeted advertising and has recently undergone significant executive changes. |
| Michael Kiernan | Person | Individual | He is the newly appointed permanent Chief Revenue Officer of Nextdoor, having held various leadership roles in the industry. |
| Heidi Anderson | Person | Former Executive | The former Chief Revenue Officer of Nextdoor, who left the company in May. |
| Nirav Tolia | Person | CEO | The co-founder and CEO of Nextdoor, who returned to the leadership position to guide the firm through operational challenges. |
| Sarah Friar | Person | Former CEO | Former CEO of Nextdoor, now serving as CFO of OpenAI. |