(Agence Ecofin) – After raising $ 85 million in July 2020, Stack Overflow, 13 years of existence and more than 100 million visitors per month, will soon be integrated into Prosus’ business portfolio. This subsidiary of South African Naspers paid around $ 1.8 billion for this takeover.
(Ecofin Agency) – Prosus, the subsidiary of Africa’s best-valued South African company Naspers, has offered to buy Stack Overflow, one of the world’s 50 most popular websites, for approximately $ 1.8 billion. and which receives more than 100 million visitors each month.
Prosus, one of the world’s leading technology investors with stakes in companies such as Tencent, PayU, Brainly and Udemy, will help accelerate Stack Overflow’s growth ambitions with a focus on growing its community to the international.
Big news! Stack Overflow is excited to be joining the Prosus family of companies, propelling us into our next phase of growth. Cheers to the future of workplace collaboration and learning! https://t.co/ENHi6pIfza pic.twitter.com/CWpq1LjyAz
— Stack Overflow (@StackOverflow) June 2, 2021
The website created in 2008 in New York by developers Joël Spolsky and Jeff Atwood is a knowledge-sharing platform that allows developers and other professionals to improve their coding performance.
“As a business operator in over 90 countries, we understand the needs of technologists and developers, especially in high growth markets. […] Technological training has become the most important and dynamic segment of learning and development in companies ”, commented Larry Illg, Managing Director of Educational Technology (EdTech) at Prosus. And to add: “In addition to further developing its community in the markets, we want to help Stack Overflow teams grow within organizations to seize an underserved opportunity to transform their technology learning and collaboration.”
In 13 years of existence, Stack Overflow has raised funding totaling $ 153 million. In July 2020, it had raised $ 85 million in E financing to accelerate its activities.
This process is expected to be finalized in the third quarter of 2021. Stack Overflow will thus have more resources and support to develop its platform, its products and accelerate its global impact.
“It could look like faster and more robust international expansion, mergers and acquisitions opportunities and deeper partnerships on our main platforms,” Stack Overflow CEO Prashanth Chandrasekar (pictured) said