nextdoor founder net worth nextdoor founder net worth

Sign up Later on, in 2008, he became the CEO of Fanbase which he had co-founded. How Much Is The Founder Of Nextdoors Net Worth? Nextdoor is a great place to complain about a neighbors barking dog. hitType: 'event', But its also a hotbed for scammers, like a contractor who disappeared after the deposit was paid, an imposter who hired teenage assistants and botched a remodeling project, and a woman who stole a real nannys identity to dupe multiple families. Members of the council participate in quarterly conference calls with Nextdoor employees and receive at least one trip to the company's headquarters in San Francisco, with all expenses reimbursed by Nextdoor. It also reported accelerating average revenue per user, or ARPU, during the first and second quarters this year, Friar added. This social networking service was launched in October 2011. Its important to note that Nextdoor, like many sites, reassures users it will not share or sell your private information to anyone; however, the amount of data they receive is staggering. Checking the Better Business Bureau to see whether a local business has any outstanding issues can also help. The Marketplace is based on geographic location and no payments take place on the app. We are one of the worlds fastest growing Facebooks Neighborhoods section in its app is virtually a clone of Nextdoor. The contractors would perform a minimal, shoddy job, or none at all. The term may apply to companies or individuals, but is often used colloquially to refer to wealthy individuals. According to The New York Times, these discussions are "separated from [a user's regular] neighborhood feeds". Nirav started his career at Yahoo! The platform, created in 2011,allows users toorganize events, alert neighbors of danger and spread useful information such as business postings or pandemic-related news. In fact, Nirav Tolia was also known as the former CEO of Nextdoor before Sarah Friar. Get the most out of your neighbourhood with Nextdoor. February 1, 2023 February 3, 2023 Net Worth by Igor. Nirav currently serves as the CEO and Co-founder of Nextdoor, the private social network for neighborhoods that launched in October Personal Investments Number of Investments 10 Nirav Tolia has made 10 investments. [58], Since 2018, Nextdoor has partnered with Vote.org to launch an interactive Vote Map during elections that mark local poll locations and allow users to share whether they have voted or plan to vote. The day of the accident, Tolia, his wife and child were driving north on Highway 101 just south of San Francisco when their Sunday afternoon drive took a sharp turn, according to the civil suit. [33][34] "Founding" members of neighborhoods determine the name of the neighborhood and its boundaries, although Nextdoor retains the authority to change either of these. Nextdoor, founded in 2010, has raised more than $100 million in funding and counts Greylock, Kleiner Perkins and Google Ventures among its funders. The upcoming 'Shark Tank' episode will feature Tolia making his big debut on the popular show. 2014, the company launched GATE mock test series, SBI PO, mock test for aptitude, SBI clerk tests. The crash left Motley with two fractures in her left hand and neck and back injuries, the civil suit said. Nextdoor, a social media app for neighborhoods, plans to go public through a merger with a special purpose acquisition company in a deal worth $4.3 billion. available in 11 countries. [4] However, they don't verify the accuracy of submitted names and addresses. He founded this social networking service along with Prakash Janakiraman, David Wiesen, and Sarah Leary. Later on, he got into studying B.A. According to documents filed with the SEC, KVSB filed a registration statement with the SEC on October 1, 2021. pic.twitter.com/woKML2nLNm. Testbook established in 2013. Nirav Tolia is a rising entrepreneur who founded Nextdoor. Nirav was born in Odessa, Texas in the United States. Because of that, people may be less likely to use due diligence in researching contractors and caregivers, said Brandy Bauer, an associate director at the National Council on Aging. It's where communities come together to greet newcomers, exchange recommendations, and read the latest local news. Net Worth: $1.5 Million Salary: $0 Dollars Date of Birth: Aug 7, 1966 (56 years old) Place of Birth: Huntsville Gender: Male Profession: Entrepreneur, Businessperson, Internet Entrepreneur,. in English at Stanford University. Tolia drove away, and witnesses followed his car and took down his license plate number. [15] Nirav Tolia worked at Benchmark Capital as Entrepreneur in Residence at that time. Users can connect with their neighbors to complain about barking dogs, porch pirates, or lost kittens. The company has stated it "has no plans" to accept political advertising. We're aware that some neighbors are having trouble accessing the Nextdoor platform. [60], The platform reports increased activity during disasters. Business data for Nextdoor Holdings, Inc.: This page was last edited on 3 March 2023, at 06:04. Nextdoor is a privately-held company based in San Francisco with backing from prominent investors including Benchmark, Shasta Ventures, Greylock Partners, Kleiner Perkins, Riverwood Capital, Bond, Axel Springer, Comcast Ventures, and others. Car Next Door had been operating independently since Uber's takeover, with co-founder Will Davies as chief executive, but the brand [Car Next Door] disappeared in early November, bringing to a close a journey that lasted 10 years since its beginnings in Sydney. Their latest investment was Series C - Palmetto Clean Technology on Feb 24, 2022, when Palmetto Clean Technology raised $375M. A Better Business Bureau study in 2018 found that people were more susceptible to losing money due to a home improvement scam compared to other types of scams, and especially if they were between the ages of 35 and 54. According to Bauer, this type of scam isnt unique to Nextdoor: The scammers [on Nextdoor] are simply using a 21st-century version of an old, effective tactic. Bauer explained that fraudsters are known to drive around neighborhoods looking for properties in need of repairs and offer homeowners affordable quotes for proposed work, then ask for payment up front. In October 2018, Square's former chief financial officer Sarah Friar became CEO, succeeding Tolia. Table of Contents. Ventures among its funders. Dont automatically trust referrals provided in a post, and dont feel pressured to commit to engaging services under a tight deadline, she said. [18] Dan Clancy (formerly of Google) joined Nextdoor in February 2014. [51] In a blog post, CEO Friar denounced "systemic racism in our nation" and pledged to provide its moderators with "resources and support". Nextdoor, the social network for neighbors, raises $18.6 million to help Americans stop bowling alone / Nextdoor, a private social network for neighbors, has raised $18.6 million to accelerate its . Shopping.com went public on Nasdaq in 2004, and eBay acquired it for $620 million the following year. [31], Typical platform uses include neighbors reporting on news and events in their "neighborhood" and members asking each other for local service-provider recommendations. The CEO of Nextdoor, the social network for local neighborhoods, plans to step down from his role after almost eight years. In this post, youll get to know whos the founder of Nextdoor. }); Theres a false sense of security on Nextdoor that, because these are people in your immediate community, they must be trustworthy. In October 2018, Square's former CFO- Sarah Friar was named as the CEO of Nextdoor. The entrepreneur is married to Megha Trivedi Tolia, and the couple shares three children together. What Does It Mean To Be Physically Healthy? }); On "Squawk on the Street," Friar said San Francisco-based Nextdoor will continue expanding into new territories, which in turn generates more content for the platform. Nirav Tolia is a Co-Founder of Nextdoor and was previously its Chief Executive Officer. Where neighbours borrow tools and sell couches. We help brands drive measurable outcomes by creating meaningful connections with a uniquely engaged, influential audience. Nirav also has a brother who is now a doctor. She lost control of the car, spun in front of Tolia's car and hit the center median. }); * We have an average household net worth of $3.7 million. Thus, thats all you need to know about the founder of Nextdoor. Here, he worked as an associate producer and surfer for 3 years. Nirav Tolia, one of Nextdoor's founders, emailed employees today that. Although Facebook doesnt own Nextdoor, it did launch its own similar app earlier this year. Facebook Neighborhoods is a dedicated space within the Facebook app designed to help you connect with your neighbors, participate in your local community and discover new places nearby, the company said in a May 5 blog post. [62] A National Oceanic and Atmospheric Administration partnership allows Nextdoor to send out local-community alerts during extreme weather incidents. [5] Nextdoor changed its user interface, saying the purpose was to make it harder for users to create race-based posts. Nextdoor.com has turned into Biased Based Platform running under the guise of "they respect everyone " but don't you dare voice an opinion. Nextdoor, a community of renters and homeowners in 237,000 neighborhoods across 10 countries, doesnt publish member numbers, but in 2017, former CEO Nirav Tolia told Adweek that the site has tens of millions of regular users. According to Quantcast, an estimated 4.1 million people visit the site every month. document.querySelector("#adunit").addEventListener('click',function(){ } The cloud storage provider went public in March 2018, with shares jumping more than 35% on its first day.. Catch him in the Tank during Season 13! Nextdoor Inc. is merging with a special-purpose acquisition company to go public in a deal valuing the social-media network at roughly $4.3 billion. Nextdoor founder Nirav Tolia listed his San Francisco home for $25 million. Nextdoor has made co-founder and former CEO Tolia a very wealthy man. All Rights Reserved. The tech mogul was born in 1973 in Texas to an Indian immigrant couple. This story is part of Protect Your Parents From the Internet Week. Currently, Nextdoor is available in 11 countries. Former RadiumOne CEO Gurbaksh Chahal was ousted amid a flurry of angry blog posts after he pleaded guilty to a reduced charge of misdemeanor domestic violence for abusing his girlfriend. Quick info about Anupam Mittal (Shaadi.com founder and Shark Tank India Judge) Once the merger is complete, Nextdoor will be a public company owned by its shareholders. During CO's 2021 Big Week for Small Business, Jeanette Mulvey, editor-in-chief, spoke with Prakash Janakiraman, co-founder and chief architect of Nextdoor, to discuss how small businesses can better connect with and serve their local community. Try A Different OS, Get Vaccinated? Neighbors around the world turn to Nextdoor daily to receive trusted information, give and get help, get things done, and build real-world connections with those nearby neighbors, businesses, and public services. ", "Nextdoor Free Finds Will Let You Quickly Find Free Stuff In Your Neighborhood", "Nextdoor is bringing the neighborhood online", "How Nextdoor Addressed Racial Profiling on Its Platform", "Social Network Nextdoor Moves To Block Racial Profiling Online", "For Nextdoor, Eliminating Racism Is No Quick Fix", "Racial Profiling Is Still A Problem On Nextdoor", "The Record: Thursday, Feb 25, Full Show", "Some Nextdoor Moderators Are Furious With The Company's Backing Of Black Lives Matter", "People On Nextdoor Say The Platform Censored Their "Black Lives Matter" Posts", "Nextdoor tells community leads to allow Black Lives Matter discussions after expos", "Nextdoor Removes App's 'Forward to Police' Feature; The change came after many users accused the platform of deleting posts related to Black Lives Matter and not tamping down on racial profiling", "Nextdoor's Cozy Relationship With Government Officials", "Nextdoor Is Quietly Getting The Cops Involved: Report", "Local governments embrace Nextdoor as communication tool amid coronavirus", "Nextdoor and Walmart partner on a new neighborly assistance program", "Walmart and Nextdoor team up with new 'Neighbors Helping Neighbors' program amid coronavirus", "Neighborhood social network Nextdoor is both a lifeline and a hub of anxiety", "Nextdoor's vote map helps neighbors get out the vote", "Nextdoor Is Betting a Social Network Can Still Be a Platform for Politics", "Nextdoor helps neighbors connect during Harvey", "FEMA Emergency Messaging to Start on Nextdoor App =", "The Role of Social Media in Disaster Recovery Following Hurricane Harvey", "Website sends letters with Watertown woman's name, but not her permission", "Mosman Park residents 'inundated with spam' after signing up to Nextdoor app", "Nextdoor neighborhood app sends letters on its users' behalf", "Nextdoor Raises $75M Funding Round, Easily One of Gov Tech's Largest Deals of the Year", "Nextdoor raised about $75 million to connect neighbors", "How Nextdoor is using verified location data to quietly build a big ads business", "Neighborhood social network Nextdoor raises $123 million at $2.1 billion valuation", "Nextdoor to go public in $4.3 billion SPAC merger as CEO looks toward expansion", https://en.wikipedia.org/w/index.php?title=Nextdoor&oldid=1142580617, Australia, Canada, Denmark, France, Germany, Italy, Netherlands, Spain, Sweden, UK, US. Ive been the CEO of three different companies in Silicon Valley, he told one pair of entrepreneurs. Tolia's net worth is estimated at $50 million,. Continue with Facebook. The tech mogul was born in 1973 in Texas to an Indian immigrant couple. In fact, on his Instagram page, Nirav has posted several photos and videos of his sons. People may receive compensation for some links to products and services on this website. if(document.querySelector("#ads")){ Facebook originally made Neighborhoods available in Canada with plans to roll it out to select U.S. cities eventually. Tolia and his family are temporarily . [Read: How 3 Tech Startups Are Monetizing the Pandemic-Fueled 'Buy Local' Movement] In other words, the parents who once warned us of the dangers that lurked online cyberbullies, porn, hackers are the very ones most likely to fall for these kinds of scams. Attorneys for the woman who crashed were quick to point out the contradiction that the head of Nextdoor would drive away from a crash scene. All Rights Reserved. Ask Wikipedia", "What Petty Nextdoor Posts Reveal About America", "Start or join a neighborhood social network with Nextdoor", "How are Nextdoor neighborhoods created? [26] Tolia subsequently retained his seat as a member of the company board of directors. ga('ads.send', { While Mark Cuban, Kevin O'Leary, Lori Greiner, Robert Herjavec, Barbara Corcoran, and Daymond John are the regular Sharks on the show, every season a roster of select guest Sharks are roped in to make things more interesting. He didn't call 911, he said, because he was "in shock" and had seen other drivers indicate that they would call authorities. Tolia, "impatient to overtake a slower vehicle in front of him," swerved his BMW X5 SUV from into the lane to his right and almost hit executive recruiter Patrice Motley's Honda Del Sol coupe, in which she had a passenger and her Bichon Frise, the suit said. Fanbase was an online crowd-sourced almanac of professional and college athletes. Tolia's car never hit Motley's, but when he swerved about a third of the way into her lane, she honked at him and was forced to swerve as well, authorities said. "[16], As of February2014[update], Nextdoor had 80 to 100 employees. document.querySelector("#google_image_div").addEventListener('click',function(){ In 2022, the social network is expecting to make over $250 million in revenue. [Nextdoor] has not only the strong network effects but very strong local online-offline effects, which are very, very rare," Khosla added, while expressing confidence in the company's metrics and future potential growth. Compare KIND With Other Stocks From: To: Zoom: Apr Jul Oct 2022 Apr Jul Oct 2023 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 $2.0 $2.2 $2.4 $2.6 KIND Market Capitalization (Billions of Dollars) Apr Jul Oct 2022 Apr Jul Oct 2023 [8][9][10][11][12] Nextdoor has always had rules governing what members can publish on the site but is dependent on local volunteers to enforce the guidelines without bias. Nirav was born in Odessa, Texas in the United States. Where the organization is headquartered (e.g. Nextdoor, a social media app for neighborhoods, plans to go public through a merger with a special purpose acquisition company in a deal worth $4.3 billion. if(document.querySelector("#adunit")){ This created a trusted environment for members to interact with people, whom they knew were actually verified neighbors of theirs. You may opt-out by. Vice President, Product and Marketing for Shopping.com, eBay (formerly Shopping.com), Entrepreneur in Residence, Benchmark Capital, Co-Founder and Vice President, Product and Marketing, Fanbase, Scale - Royalty-free vector illustrations. Silicon Valley veteran Nirav Tolia made his Shark Tank debut in the ABC reality series Oct. 29 episode. According to the FBI, seniors are more attractive to con artists because they are most likely to have a nest egg, to own their home, and/or to have excellent credit.. Wealth History. These public agencies collect and present voter-education information, such as voting locations and voter registration deadlines. Current holders of Nextdoor stock options will receive 3.1047 shares of the new publicly traded Nextdoor for each share they own of Old Nextdoor common stock, according to documents filed with the SEC. Prior to Nextdoor, Nirav was Co-Founder and Chief Executive Officer of both Fanbase and Epinions. To allow users to invite other neighbors to join the service, they went beyond just email or SMS, by also including the option to send postcards in the mail, or distribute flyers. In July 2018, then-CEO co-founder Tolia announced plans to retire as chief executive officer (CEO),[25] stating that he intended to become chair of the company's board following the transition. But Niravs brothers name has not been revealed. Nirav Tolia is a rising entrepreneur who founded Nextdoor. FAN. You can keep on reading if you are interested to know more about the founder of Nextdoor. Billed as the worlds largest local social network, Nextdoor spread to more than 220,000 neighborhoods worldwide, including 90 percent of neighborhoods in the U.S. In July 2018, Tolia announced his plans to retire from his position as CEO and take on an active chairman role on the companys board. The service does, however allow separate forums just for political discussions. [21], In February 2017, Nextdoor acquired the UK local social network service Streetlife in a "multimillion pound deal". In his debuting match, he performs an excellent inning and helps to guide the staff to a good whole of 158 runs. When the next CEO is selected, I will become Chair of the Board where I will continue doing whatever I can to help us succeed," he added. Sean Rad is an American entrepreneur and co-founder of Tinder, the online dating app. Nextdoor connects neighbors and to everything nearby: Local businesses, services, news updates, recommendations, and stuff for sale from the people down the block. Continue with Apple. [36] A study on the role of social media in disaster recovery following Hurricane Harvey revealed that communities active on Nextdoor were more likely to recover at a rate faster than communities that were less active. let gads_event; He was born on 1973 in Odessa (Texas) to an Indian parents who moved to U.S in 1970. Representatives of the American Civil Liberties Union and the Electronic Frontier Foundation expressed concerns about the lack of transparency associated with Nextdoor's use of non-disclosure agreements. [6] During the George Floyd protests, many members of the National Leads Forum a community of Nextdoor moderators criticized Nextdoor's support of the Black Lives Matter movement and expressed a preference for All Lives Matter, a slogan that signifies opposition to BLM. [73], National Oceanic and Atmospheric Administration, "US SEC: 2022 Form 10-K Nextdoor Holdings, Inc", "Nextdoor offers online forum for neighborhoods", "Website Meant to Connect Neighbors Hears Complaints of Racial Profiling", "Nextdoor is next: Why the social network of systemic racism is ripe for change", "Inside Nextdoor's Karen Problem; Can Nextdoor really be a social network for communities if black people don't feel safe on it? gads_event = event; ", "Nextdoor and NOAA Partner to Better Prepare Americans for Severe Weather", "Tensions in Scaling-up Community Social Media: A Multi-Neighborhood Study of Nextdoor", Conference on Human Factors in Computing Systems, "Is It Better to Use Nextdoor or Facebook Marketplace? [41][5] In 2016, Nextdoor announced that users would be asked to submit identifying characteristics other than race when posting warnings about individuals or events in the neighborhood. Catch the latest episode featuring products like Soapen, The Magic 5, Tabby, and 54 Thrones.Missed an episode? In Westminster, Colorado, 72-year-old Pam Ruffin was looking to repair her fence and contacted a company named Eagle Eye Fence, which multiple users on Nextdoor recommended, according to a report by ABC 7. According to a report in Forbes, Tolia "merged suddenly into another lane on 101 just south of San Francisco and caused a woman to lose control of her car and spin into the center median, injuring her hand and neck." History. The couple together has three sons. He pleaded no contest and was sentenced immediately to 30 days in county jail and a $239 fine. Thats the kind of problem that Ive solved over the last 20 years., Investor, co-founder and former CEO of Nextdoor, co-founder and former CEO of Epinions. Friar, who served as Square's chief financial officer from 2012 to 2018, said that last year Nextdoor saw its daily active users grow by 50%. Leary and Tolia even debated on giving the money back, since they didn't know what else they could pivot to. As the hit show not only helps these entrepreneurs with raising capital but also gives them an opportunity to be mentored by some of the best Venture Capitalists/ investors in the world- aka Sharks. We know older adults in particular were raised to be neighborly and trusting, she explained. Tolia is set to appear in San Mateo County Superior Court for the criminal charge on May 28. founder of the social networking service Nextdoor, has a new . Know To Start A Natural Skin Care Routine, Advantages And Disadvantages Of Watercolor Tattoos. . In fact, Nirav Tolia was also known as the former CEO of Nextdoor before Sarah Friar. Nextdoor co-founder Nirav Tolia has a net worth of $50 million. According to The Atlantic, "Seattle Mayor Ed Murray derided an atmosphere of 'paranoid hysteria' he'd witnessed on the message boards of some of Seattle's more upscale neighborhoods. Engage neighbors when and where it matters most. Once they found the ways in which neighbors were finding value in these interactions, they were able to replicate at scale. We want to hear from you. Round Zero is an entertainment company. The merger values Nextdoor at about $4.3 billion. Yahoo helped Nirav to gain a lot of experience. [56] Walmart locations and store hours were placed on a Help Map where users could post to offer help to others in their neighborhoods. Over here, he worked as the vice president of marketing and business development till 2000. ARK Investment Management and Soroban Captial Partners LP are one of the most recent investors of Nextdoors. "It's going to bring in a lot of. The Fishers Police Department in Indiana was forced to warn residents of a car sale scam on Nextdoor. Notifications can be turned off anytime from browser settings. San Mateo County District Attorney Steve Wagstaffe told Forbes that his office filed the charge against Tolia on Tuesday, the same day attorneys filed a parallel civil suit from the woman he struck, claiming negligent driving and infliction of emotional distress. This post originally appeared on the Nextdoor Engineering blog and was written by Sean Bromage . },false) About 29 investors funded Nextdoor. eventCategory: event.slot.getSlotElementId(), Co-founder & CEO Feb 2019 - Present4 years 2 months Greater Seattle Area Executive Chairman & Co-Founder Sep 2010 - Feb 20198 years 6 months Co-founder & CEO Dec 2004 - Sep 20105 years 10. For additional information and images: nextdoor.com/newsroom. Later on, he became the CEO of the company in 2003. The deal was fake. [59], The company exchanges services with government agencies such as the California Secretary of State's office and the District of Columbia Board of Elections. Nextdoor, which was included in CNBC's Disruptor 50 companies in 2015, gets an implied valuation of $4.3 billion through the SPAC deal. 2023 CNBC LLC. Yes, Nextdoor is now part of the Facebook Audience Network i.e. The listing agent is Malin Giddings of Compass, who deals a lot in the upwards-of-$10-million market around Pacific Heights . [32] "Neighborhood" borders were initially established with Maponics, a provider of geographical information. This networking company is based in San Francisco, California. When a California Highway Patrol officer found Tolia at his Pacific Heights home around 7 p.m. that day, he said he did not see Motley's car hit the median and kept driving instead of stopping because he was "shaken," according to the CHP report. Click here if viewing. eventCategory: event.slot.getSlotElementId(), [5][6][7] As a platform, it also has been accused of operating as fear-based media,[vague] serving interests of real estate, private security, and police;[specify] reaffirming social and racial biases,[specify] and spreading alleged conspiracy theories such as the stolen election conspiracy theory and COVID-19 misinformation. These Sharks then decide whether they want to invest in the idea or not, considering they have to invest their own personal money, there is plenty of drama in store. We will take our time to find the right person, so this process will likely take several months. "It's ironic that the CEO of a company that is holding itself out as trying to promote neighborliness, crime watch and things like that flees the scene of an accident that he caused and doesn't bother to call 911 or stay around to exchange information or see if he caused any injuries," said the woman's attorney, Joseph Brent to SF Gate. Early investors included Benchmark Capital, Shasta Ventures, and Rich Barton. Offers may be subject to change without notice. Nearly 6 percent have a net worth of over $10 million. eventAction: 'click_image_ads' Tolia attended Stanford University, where he majored in English Literature. Nextdoor was created to change that., In 2010, Sarah Leary and Nirav Tolia created a prototype for the app. After graduating from Stanford University with a B.A. Of course, some of our cohorts have accumulated much more. if(document.querySelector("#google_image_div")){ According to online reports, Tolias net worth is upwards of $50 million. }); The company eventually went public and was later acquired by eBay. [7] Subsequently, Nextdoor discontinued its "forward to police" feature, which had, since 2016, let users send posts directly to local law enforcement. [20] On June 12, 2014, Tolia pled no contest and served 30 days of community service in lieu of jail time. }); Niravs father was an ophthalmologist and his mother was a gynecologist. New to Nextdoor? In July 2021, when Nextdoor announced its plans to go public with a merger with the SPAC Khosla Ventures Acquisition Co. II, the company also announced that it was launching the nonprofit Nextdoor Kind Foundation. "His defense attorneys gave us a full background on what this guy is, what he's done, how he's a pretty community-oriented person, and that's something," San Mateo County District Attorney Steve Wagstaffe explained. She never saw them again. Brands and their agencies turn to Nextdoor to: Reach real neighbors based on their interests and location. The neighborhood network. One Madison County, Alabama, couple put a notice for their lost cat on Nextdoor, as well as on Craigslist and in Facebook groups. Head of product and. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Daymond John's Net Worth (Updated 2023) Last Updated on February 3, 2023. The founder of Nextdoor is Nirav Toila. In October 2011, Nextdoor launched nationally, and with rising popularity, they raised $18 million from multiple investors in July 2012. What is Nirav Tolia's net worth? The increases for ARPU are driven by growing member engagement on the platform and more sophisticated ad tech platforms, Friar said.