Stack Overflow, the global knowledge-sharing platform for developers. Is set to be acquired for $1,8 billion by Prosus, the global internet consumer company that was born out of South Africa’s Naspers unbundling its non-South African assets and investments. Stack Overflow has stated that, as soon as the acquisition is complete, it intends to turn its platform into an invaluable resource for developers and technologists everywhere.
For Prosus, the acquisition plays a role in its global EdTech strategy as well as the consumer internet investment company believing that it can help Stack Overflow accelerate global growth as well as scale the company’s Teams product to enterprises globally.
“We are delighted to be welcoming Stack Overflow to the Prosus family as we increasingly focus on the future of workplace learning. Learning of any kind typically begins with a question and their platform is critically important for global developers when they have questions about their work. There is an opportunity to connect more deeply with their community through our other education platforms to further fulfill their learning needs," said Larry Illg, CEO of EdTech at Prosus.
Stack Overflow's global ambitions
Stack Overflow is one of the 50 most popular websites in the world. The company has built a knowledge platform with a global reach and a highly engaged developer and technologist community over the last 13+ years.
Stack Overflow now serves more than 100 million people across the world every month.
"Once this acquisition is complete, we will have more resources and support to grow our public platform and paid products, and we can accelerate our global impact tremendously. This might look like more rapid and robust international expansion, M&A opportunities, and deeper partnerships both on Stack Overflow and within Stack Overflow for Teams. Our intention is for our public platform to be an invaluable resource for developers and technologists everywhere and for our SaaS collaboration and knowledge management platform, Stack Overflow for Teams, to reach thousands more global enterprises, allowing them to accelerate product innovation and increase productivity by unlocking institutional knowledge," said Prashanth Chandrasekar, CEO of Stack Overflow, in a statement announcing the acquisition by Prosus.
Focus on EdTech
EdTech is a priority focus area for Prosus as the company has continued to invest in companies that help to democratize access to quality education around the world.
Prosus entered the EdTech market in 2016 with investments in Brainly, Codecademy and Udemy, and has continued to expand its investments in the sector since then, with the portfolio now also including BYJU’s, Eruditus, Skillsoft, SoloLearn and now Stack Overflow.
“With enduring skills shortages and ever-evolving needs within technology organizations, technology training has emerged as the largest and fastest growing segment of corporate learning and development. As an operator of businesses across 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," said Illg.
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