Naspers-controlled Internet investment firm Prosus has agreed to acquire Stack Overflow, a platform used by software developers, for US$1.8-billion (about R24.4-billion).
According to Prosus, Stack Overflow, which was founded in 2008, has a global developer and technologist community using its platform. It serves more than 100 million people every month.
“Stack Overflow has deep engagement within its community and is an invaluable tool for tech-focused collaboration and learning,” the group said in a statement. “Over 85% of its learning-focused community visits the platform every week to access more than 52 million questions and answers.”
There is a new question posted on Stack Overflow every 14 seconds, and developers and technologists visiting the platform have been helped over 50 billion times since its inception.
“With expertise in scaling communities in high-growth markets globally, Prosus can help accelerate Stack Overflow’s growth ambitions, with a particular focus on reaching a wider international community, while also further scaling the company’s Teams product to position Stack Overflow at the centre of product and technology development within major enterprises globally,” Prosus said.
Scaling
Larry Illg, CEO of education technology at Prosus, said: “With enduring skills shortages and ever-evolving needs within technology organisations, technology training has emerged as the largest and fastest-growing segment of corporate learning and development.
“As an operator of businesses across more than 90 countries, we understand the needs of technologists and developers, particularly in high-growth markets. In addition to further scaling its community in the markets we know well, we want to help Stack Overflow Teams to expand within enterprises to address an underserved opportunity to transform their technology learning and collaboration,” Illg said.
The transaction is expected to close in the third quarter. — © 2021 NewsCentral Media
