Chart of the Week: Craigslist vs. Nextdoor Growth
Earlier this month, neighborhood-based social network site Nextdoor announced a new $75 million funding round, bringing their valuation up to $1.5 billion. According to TechCrunch, CEO Nirav Tolia reported that the service was being used in 160,000 neighborhoods in the U.S., the UK, and the Netherlands as of this past June. With ambitions to become to go-to platform for neighborhoods and neighbors in 85% of the U.S. market by the end of 2017, how does Nextdoor stack up to Craigslist, the hyperlocal classifieds stalwart? Verto Analytics took a look at user numbers and engagement rates (among U.S. adults, ages 18 and older) for both properties.
Nextdoor vs. Craigslist: A Numbers Game
Originally created as a San Francisco-area e-mail newsletter before expanding to a website in 1996, Craigslist’s spartan, utilitarian website has remained largely unchanged over the past 20 years. Even after expanding outside the Bay Area in 2000 (the website now hosts more than 700 metro/city sites across 70 countries, according to their factsheet), Craigslist has never released an app, although they recently started allowing cryptocurrency transactions.
So how does Nextdoor compare to Craigslist? Founded in 2011, Nextdoor has never publicly disclosed its user numbers, but Verto Analytics data shows that age matters: Craigslist still has a larger monthly unique user base, although Nextdoor has been enjoying steady growth over the past six months: in November 2017, Nextdoor had 22 million monthly unique users, an impressive 38% increase over the 15.9 million monthly unique users it had in May 2017. Craigslist has a less volatile growth rate, but still maintains a healthy lead, with 37 million monthly unique users in November 2017 (however, that represents a dip from its summer figures, when the website peaked at 45 million monthly unique users in August 2017).
A look at user engagement also reveals a dramatic difference between the two properties: while Nextdoor’s 18% stickiness (the measure that Verto uses to assess user engagement, by comparing daily users to monthly users) is slightly higher than Craigslist’s 15%, the average user spends far more time on Craigslist: in November, the average time spent per user was neatly 1 hour 8 minutes on Craigslist, compared to just 22.5 minutes on Nextdoor.