In what is being billed as a “multi-million pound” acquisition, San Francisco-headquartered Nextdoor is purchasing the “assets” of U. K. local social network Streetlife .
The deal, of which further details are scarce, will see Streetlife’s 1.5 million registered users invited to sign up to Nextdoor’s fairly recently-launched U. K. version, before Streetlife itself shutters. “No member data will be transferred without the explicit approval of a Streetlife member,” say the two companies.
Furthermore, I understand that the acquisition is for cash and certainly less than £10 million, while Streetlife’s employees are not transitioning over to Nextdoor as part of the deal.
In a call earlier this week, Streetlife founder Matthew Boyes, who is staying on to advise during the handover, assured me that staff are being well looked after regards the sale. “Nobody in the office is crying,” he says.
