This Week in Startups
Tech Earnings Breakdown: $UBER, $LYFT, $KIND with TechCrunch's Alex Wilhelm | E1845
Nov 11, 2023
In this engaging discussion, Alex Wilhelm, Senior Editor at TechCrunch and expert on tech finance, joins to dissect the latest earnings from Uber, Lyft, and Nextdoor. He breaks down Uber's journey to profitability and contrasts it with Lyft's struggles. The conversation also delves into WeWork's failed model and evaluates the shifting career landscape as AI continues to advance. Expect insights on financial strategies, market dynamics, and the evolving startup ecosystem, sprinkled with humor and sharp analysis!
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Quick takeaways
- Nextdoor is facing financial struggles due to stagnant revenue growth, and should explore new revenue streams to sustain its business.
- Proximity to the transaction and scale are crucial for success in the advertising industry, which poses challenges for Nextdoor.
Deep dives
Financial Struggles and Advertising Challenges for Nextdoor
Nextdoor, the social app that connects neighbors, is facing financial struggles as its revenue growth remains stagnant. Despite a weekly user increase of 6%, the company's advertising business is not generating significant profits. Nextdoor announced a 25% reduction in staff in an attempt to cut costs. However, the company's current enterprise value is low, leading to doubts about its potential for growth. Analysts suggest that Nextdoor should explore new revenue streams, such as implementing a subscription model for vendors or expanding into local news, to sustain its business and drive profitability.
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