we will hear from next-door ceo sarah friar. that's next.nd, as we head to a commercial break, look at this chart. u.s. traded shares of weibo ending tuesday are up almost 7% after jumping almost 40% at the top of the day. this came after a report that said the state investor or in talks to take the company private. a statement denied that report. this is bloomberg. ♪ caroline: next-door is the latest company to go viral. the social media app will merge with a company created by a venture-capital billionaire. it is valued at $50 billion. we spoke with nextdoor's ceo. >> next-door is already in one and three households in the united states. we are primed and ready for growth. what these proceeds do our, number one, they let us continue to grow new neighbors onto the platform. it allows us to keep adding personalization, so when you come as a neighbor it feels like home. it's a place where you want to meet the people around you. and we want to keep investing for businesses. small, local businesses that strive in local communities, but also our

i don't know i don't know i guess because i'm doing it sarah friar here, being nextdoor's ceo this is had sarah on last week. congratulations to both of you >> thank you so much, jim. thanks, david, for having us on this morning >> all right sarah, ei'll go right to it. you know my wife, lisa, starts every morning, every single morning with nextdoor. she's not alone. today, she would have been met with a story about a baby robin that fell out of a nest. believe it or not, that would be something she'd immediately mention to me. honestly, right then then a gray station wagon, subaru parked on huntington street yes. rear-view mirror window smashed by truck but, and this is why i bring this up, second item, sarah, an ad for optimum $35 a month. is that where the money is going to be, sarah >> yeah. i mean, you're exactly right, jim. we're thrilled this morning to be announcing the go public with the coastal venture spac it is going to bring in a lot of proceeds, $686 million of gross proceeds and a real bluechip set of investors where are we going to invest number one is to keep growing