Pros
Employees really care about the future of Nextdoor as a product, company and mission. It's a hard working, motivated team and it's a really great work environment. My colleagues are collaborative, creative, fun-loving and passionate about what they're doing. We have a beautiful office, pretty competitive benefits like free healthcare, commuter, 401k (especially for a pre-revenue company), a fun culture, and an amazing product and mission. It's been a really incredible experience so far with a ton of opportunity. Several people have moved up and around the organization successfully and it's a dynamic, growing company with lots to do.
Cons
There's certainly a strong expectation to do what it takes for the job and the company ("act like an owner" is a core value). Whether it's going outside of the responsibilities of your job, or having to do the "necessary" vs. the "favorite" project. With that said I think it's a smart move and that the company is being careful about their resources, versus frivolous.