Nextdoor, Inc. executed a Letter of intent to acquire Khosla Ventures Acquisition Co. II (NasdaqCM:KVSB) from Khosla Ventures SPAC Sponsor II LLC, Millennium Management LLC, Farallon Capital Partners, L.P., a fund of Farallon Capital Management, L.L.C. and others in a reverse merger transaction for $3 billion on May 27, 2021. Nextdoor, Inc. entered into a definitive agreement to acquire Khosla Ventures Acquisition Co. II (NasdaqCM:KVSB) Khosla Ventures SPAC Sponsor II LLC, Millennium Management LLC, Farallon Capital Partners, L.P., a fund of Farallon Capital Management, L.L.C. and others in a reverse merger transaction on July 6, 2021. The transaction has an expected pro forma equity value of approximately $4.3 billion. As part of the agreement, Nextdoor would become a publicly listed company and upon closing of the proposed transaction, the combined company will be listed under the ticker symbol “KIND”. Khosla Ventures Acquisition Co. II and Nextdoor, Inc., intent to list the Class A common stock of Nextdoor Holdings, Inc. on the New York Stock Exchange (“NYSE”) upon closing of the proposed business combination transaction. Upon closing of the proposed transaction, KVSB will de-list from the Nasdaq and the Class A common stock of Nextdoor Holdings, Inc. will begin trading on the NYSE under the ticker symbol “KIND”. The listing on the NYSE will be subject to application by KVSB and Nextdoor to list the shares on the NYSE and approval by the NYSE of such application. Concurrently with the consummation of the transaction, additional investors have committed to purchase shares of Class A common stock of KVSB at $10.00 per share in a private placement (the “PIPE”) to occur concurrently with the proposed business combination. Approximately $416 million in cash held in the KVSB trust account, together with the approximately $270 million in PIPE proceeds, excluding transaction expenses, will be used to support new and existing growth initiatives. As of October 18, 2021, KVSB had 52,767,100 shares of KVSB common stock issued and outstanding, which includes the 10,000,000 founder shares held by the Sponsor (including KVSB's independent directors), 1,132,688 private placement shares and 41,634,412 public shares. As of Ocypber 21, 2021, the Special Meeting of Stockholders to vote on the approval and adoption of KVSB's business combination agreement with Nextdoor, Inc., will be held via live telecast on November 2, 2021 at 11:00 a.m. ET. The transaction is expected to raise at least $363.3 million from KVSB trust proceeds (after giving effect to preliminary redemption elections, which may be withdrawn, representing approximately 13% of the trust account), and $270 million from a fully committed common stock private placement (PIPE), resulting in total gross proceeds of at least $633.3 million. KVSB shares closed at $10.23 per share on October 29, 2021, and stockholders who elected to redeem will receive approximately $10.00 per share.

Following the merger, Nextdoor Chief Executive Officer Sarah Friar, Co-Founders Nirav Tolia, Sarah Leary and Prakash Janakiraman, and founding investor Bill Gurley will each contribute a portion of their personal ownership in Nextdoor to form and sustainably fund the Nextdoor Kind Foundation, a nonprofit foundation dedicated to helping neighbors rejuvenate their neighborhoods through targeted grants. Nextdoor's management team led by Chief Executive Officer Sarah Friar and Chief Financial Officer Mike Doyle will continue to lead Nextdoor following the transaction. The Merger Agreement is subject to the satisfaction or waiver of certain customary closing conditions, including, among others, (i) approval of the Transactions and related matters by KVSB's stockholders and equity holders of the Nextdoor Parties, (ii) the effectiveness of the Registration Statement of which this proxy statement/prospectus forms a part, (iii) the receipt of certain regulatory approvals (including, but not limited to, approval for listing on Nasdaq of the shares of New Nextdoor Class A common stock issuable upon the conversion of New Nextdoor Class B common stock to be issued in connection with the Merger and related transactions and the expiration or early termination of the waiting period or periods under the HSR Act), (iv) that KVSB has at least $5,000,001 of net tangible assets upon Closing and (v) the absence of any injunctions and other customary closing conditions. The transaction has been unanimously approved by the Boards of Directors of Nextdoor and KVSB. Khosla Ventures shareholder approved the transaction on November 2, 2021. The transaction is expected to close in the fourth quarter of 2021. As of November 2, 2021, the transaction is expected to close on November 5, 2021. As of October 29, 2021, Khosla Ventures Acquisition Co., a special purpose acquisition company sponsored by an affiliate of Khosla Ventures, LLC announced that it will voluntarily transfer the listing of its Class A common stock from the Nasdaq Capital Market to the New York Stock Exchange in connection with, and upon the closing of, the previously announced business combination with Nextdoor, Inc. the neighborhood network. The shares of Class A common stock of the post-business combination company, to be renamed Nextdoor Holdings, Inc., will trade under the stock symbol “KIND”. KVSB's Class A common stock will continue to trade on the Nasdaq until the closing of the Business Combination. Nextdoor Holdings, Inc. shares are expected to trade on the New York Stock Exchange on November 8, 2021.

Morgan Stanley & Co. LLC and Evercore Group L.L.C. are serving as joint-lead financial advisors to Nextdoor and placement agents to institutional investors for the PIPE to KVSB. Goldman Sachs & Co. LLC is serving as exclusive financial advisor to KVSB. Cynthia Hess, Ethan Skerry, Ran Ben-Tzur, Katherine Duncan and Michael Pilo, Christopher Novak, Sydney Pahren; Shawn Lampron, Jonathan Millard, Helen Christakos; and William Skinner of Fenwick & West LLP served as legal counsel to Nextdoor. Jim Morrone, Michelle Gross, Kirt Switzer, Julie Crisp, Aryeh Zuber, Elizabeth Richards, Betty Pang, Patrick English, Ryan Maierson, Sarah Axtell, Brian D. Paulson and Luke Bergstrom of Latham & Watkins LLP is acting as legal counsels to KVSB. Simpson Thacher & Bartlett LLP is acting as legal counsel to Morgan Stanley and Evercore as placement agents to institutional investors to KVSB. Continental Stock Transfer & Trust Company acted as transfer agent to KVSB.

Nextdoor, Inc. completed the acquisition of Khosla Ventures Acquisition Co. II (NasdaqCM:KVSB) from Khosla Ventures SPAC Sponsor II LLC, Millennium Management LLC, Farallon Capital Partners, L.P., a fund of Farallon Capital Management, L.L.C. and others in a reverse merger transaction on November 5, 2021. The combined company is expected to start trading on The New York Stock Exchange on November 8, 2021 under the new ticker symbol "KIND" for Nextdoor Class A common stock. Citigroup Global Markets Inc. acted as financial advisor to Khosla Ventures Acquisition Co. II. The deferred transaction costs will be charged to stockholders' equity upon the completion of the Transactions. Deferred transaction costs as of September 30, 2021 were $4.6 million. There were no deferred transaction costs recorded as of December 31, 2020.