One of the world’s largest technological investors Prosus today announced the final agreement on the acquisition of Stack Overflow, a leading company in the field of information technologies for $ 1.8 billion.
Stack Overflov, one of the 50 most popular websites in the world, for the age of 13 created a global company and actively participated in the community of developers and technologists, serving more than 10 million people around the world.
Recall that in 2008 this resource was founded as an open website of questions and answers for the developer community.
Now Stack Overflow for Teams, thousands of leading companies trust the decision for working together and transferring knowledge between users, thanks to which the resource has a significant impact on the development of products and technologies.
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More than 85 percent of the learning-oriented developer community visit the platform every week.
Every 14 seconds, new questions appear on the resource. For all time visitors to the site received the help of more than 50 billion times.
Stack Overflow had earlier released a statement informing its users that they will have to pay $89.99 (pre-order-special $39.99) to continue to use its copy-paste features.
Stack Overflow’s CEO, Prashanth Chandrasekar, said, “We are excited to be joining the Prosus family, which catapults us into a new phase of growth and allows us to expand and accelerate Stack Overflow’s impact around the world.
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Prosus’s expertise growing and nurturing communities, especially in a global context, will make our public platform even more invaluable in helping developers and technologists learn and grow.
Given Prosus’s focus on the future of the workplace, their partnership will allow our market leading SaaS collaboration product, Stack Overflow for Teams, to reach thousands more global enterprises, allowing them to accelerate product innovation and increase productivity by unlocking institutional knowledge.”
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The transaction is expected to close by Q3 of 2021 and is subject to regulatory approval and customary closing conditions.