Early Facebook And LinkedIn Investor David Sze ... - Business Insider

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David Sze was cofounder of Brience and is now a partner at Greylock.

Greylock Partners' David Sze has made some very good investment decisions. He wrote early checks to Facebook, Pandora and LinkedIn.

But he just wrote his biggest startup check yet. Sze gave Nextdoor, a social network for neighborhoods, $15 million on behalf of Greylock, which led the startup's $21.6 million round of financing.

Sze tells Bloomberg that Nextdoors' membership growth reminds him of the early LinkedIn days.

Nextdoor has yet to generate revenue, but it plans to go after local advertising dollars, which many entrepreneurs have tried and failed to capture. It's up and running in 8,000 US neighborhoods, more than double its reach in July. Bloomberg says 500,000 messages are exchanged daily over Nextdoor.

"It has all the hallmarks of being the next great massively valued social network,? Sze said. ?I see every social network that comes out. I?ve sorted through all of them and passed on most of them.?

Nextdoor hasn't disclosed membership numbers but ComScore data shows 140,000 people visited the site last month. The company's internal analytics are likely higher, but it still seems like a small amount of users to snag so much money. The two-year-old company has nearly 40 employees and it was co-founded by?Nirav Tolia.

Source: http://www.businessinsider.com/investor-david-sze-writes-his-biggest-startup-check-yet-to-nextdoor-2013-3

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