Prosus NV (“Prosus”), a global Internet consumer group and one of the world’s largest technology investors, announced that it has signed a definitive agreement to acquire Stack Overflow, a leading knowledge-sharing platform for the global community.
As one of the 50 most popular websites in the world, it has established a global company and a highly engaged community of developers and technicians in the past 13 years or more and now serves more than 100 million people, all over the world every month.
Founded in 2008, the company is a community-based open question and answer site for the developer community. It has now been expanded to include Stack Overflow for Teams, a leading collaboration and knowledge management solution developed by thousands of companies around the world trust.
Stack Overflow for Teams and its extensive community content has become a necessity for the company, which has had a significant impact on the development of its products and technology.
Stack Overflow is deeply involved in its community and is a valuable tool for technology-centric collaboration and learning. More than 85% of learning-centric communities visit the platform every week, accessing more than 52 million questions and answers.
There is a new question every 14 seconds on Stack Overflow. Since the platform was established, developers and technicians who have accessed the platform have received more than 50 billion help.
With its experience in expanding communities in global high-growth markets, Prosus can help accelerate Stack Overflow’s ambitious growth, with a special focus on reaching a wider international community, while further expanding the company’s Teams products to position Stack Overflow as the center of the world’s leading company Product and technology development.
Prosus will cover 90% of the Fortune 100 of all its corporate learning companies, including Stack Overflow, Skillsoft, Udemy, and Codecademy.
Larry Illg, CEO of Prosus EdTech, said:
“We are very happy to welcome Stack Overflow to the Prosus family while paying more and more attention to the future of workplace learning. Any type of learning usually starts with a problem. When in doubt at work, your platform is very important to them.”
The opportunity to connect with your community more deeply through our other educational platforms to further meet your learning needs. With the continuous skill shortage and changing needs in the organization, technical training has become the largest and fastest-growing part of business learning and development.
As a business operator in more than 90 countries/regions, we understand the needs of technicians and developers, especially in high-growth markets. In addition to further expanding their communities in the markets we are familiar with, we also hope to help the Stack Overflow team expand within the company to solve an overlooked opportunity and turn their learning and collaboration into Technology.
Stack Overflow CEO Prashanth Chandrasekar said:
“We are very happy to join the Prosus family, which brings us into a new phase of growth and allows us to expand and accelerate Stack Overflow’s global impact. Prosus’s expertise, continuous development, and nurturing of the community, especially on a global scale, will make our public platform more valuable in helping developers and technicians learn and grow. “
Given that Prosus is focused on the future of the workplace, their partnership will enable our market-leading SaaS collaboration product Stack Overflow for Teams to reach more global companies, enabling them to accelerate product innovation and increase productivity. Through the release of institutional knowledge”.
It is expected to be closed in the third quarter of 2021 and subject to regulatory approval and customary closing conditions.