Nextdoor Board Discusses Replacing CEO Friar or Selling Company

Board members at the struggling local networking site Nextdoor have been debating the company’s future, including whether to bring in a new CEO or to find a buyer, a person familiar with the matter said. Investment firm Qatalyst has approached companies about their interest, said two people familiar with the matter.

Among the options that have been discussed is the replacement of CEO Sarah Friar with co-founder Nirav Tolia, who served as CEO between 2010 and 2018. A Nextdoor spokesperson declined to comment. UPDATE: Nextdoor on Friday announced that Friar would, in fact, step down and be succeeded by Tolia.