What is Nirav Tolia's net worth? 'Shark Tank' guest pleaded guilty in hit and run case
Nirav Tolia is the co-founder and former CEO of Nextdoor, a hyperlocal social networking platform for neighborhoods
ABC's award-winning show - 'Shark Tank' is every budding entrepreneur's dream platform. 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. The entrepreneurs pitch their unique business plans to Sharks, trying to convince them to invest in their idea. 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.
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. Season 13's guest Sharks include Nirav Tolia, Kevin Hart, Peter Jones, Emma Grede and returning guest Shark Daniel Lubetzky. The upcoming 'Shark Tank' episode will feature Tolia making his big debut on the popular show. If you're curious to know more about him and his net worth, then we got you covered.
Who is Nirav Tolia?
Nirav Tolia is the co-founder and former CEO of Nextdoor, a hyperlocal social networking platform for neighborhoods. The tech mogul was born in 1973 in Texas to an Indian immigrant couple. Tolia attended Stanford University, where he majored in English Literature.
He kicked off his career by working at Yahoo! before the entrepreneurial bug bit him. Tolia went on to co-found Epinions, a website that featured product reviews from users. He served as the company's CEO and later COO, when it was acquired by Shopping.com. The company eventually went public and was later acquired by eBay. Following the success of his first business venture, Tolia and his friends founded Nextdoor in 2008. The hyperlocal networking platform is currently available in 11 countries. Users of Nextdoor are required to submit their real names and addresses to the website; posts made to the website are available only to other Nextdoor members living in the same neighborhood.
In July 2018, Tolia announced his plans to retire from his position as CEO and take on an “active” chairman role on the company’s board. In an e-mail to Nextdoor's employees, Tolia wrote, "Just over eight years ago, I was blessed to be part of a group of seven friends who conceived of the idea behind Nextdoor. We were a tight-knit, ambitious group of co-founders who believed deeply in the power of community and dedicated ourselves to helping neighbors everywhere create stronger, safer, happier places to call home." "Yet as Nextdoor evolves, the role of the CEO needs to evolve as well. The size of our footprint is growing larger and our organization is growing more complex. The time is right to find the next CEO for Nextdoor. With our board of directors, I will be leading the search to recruit a proven operator who can take our company to the next level. We will take our time to find the right person, so this process will likely take several months. During that period, I will continue to lead as CEO. 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.
In October 2018, Square's former CFO- Sarah Friar was named as the CEO of Nextdoor. Tolia currently retains his seat on Nextdoor's board of directors.
Nirav Tolia's hit and run case
In May 2014, Tolia was charged with felony hit-and-run for allegedly fleeing a crash on Highway 101 in Brisbane, California that left a woman named Patrice Motley injured. 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." "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.
Tolia's charge was later reduced to a misdemeanor hit and run causing injury for the crash. He pleaded no contest and was sentenced immediately to 30 days in county jail and a $239 fine. He however served 30 days of community service in lieu of jail time. "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. "And his description of what occurred ... He didn't know he had a duty to call in, as opposed to someone who said, 'I knew I screwed up and was trying to get away.'"
Nirav Tolia's net worth
Tolia's net worth has been estimated to be around $50 million, according to Apumone. The outlet also added that Tolia's main source of revenue are his businesses. The entrepreneur is married to Megha Trivedi Tolia, and the couple shares three children together.
‘Shark Tank’ Season 13 Episode 4 airs on ABC on October 29, 2021, at 8 pm ET. Catch the latest episode featuring products like Soapen, The Magic 5, Tabby, and 54 Thrones.
Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.