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Stack Overflow Sold for Almost $2 Billion

Stack Overflow Sold for Almost $2 Billion

A social networking site that connects a large group of programmers – Stack Overflow has found a new owner. It’s Prosus, and the acquisition was $1.8 billion.

Stack Overflow has been sold to Prosus

The portal in question – Stack Overflow is undoubtedly one of the most popular websites among programmers (according to the Amazon Alexa rating, it is the 46th most visited website on the web). Its operation is based on a forum-like system where users ask questions related to software development – and others answer them.

It is a huge source of knowledgeWhich in the environment has already become a kind of symbol and often a source of memes.

The buyer of Stack Overflow is Prosus, which is not particularly recognizable in the American environment. However, the company is constantly investing in the international arena and, for example, among other things, owns 44.5% of the company’s shares. Tencent (Owner of Tencent Music Entertainment with 700 million active users).

Source of funds to buy Stack Overflow by Prosus ($1.8 billion) is likely to sell a 2% stake in Tencent for $14.6 billion.

What will change when Stack Overflow is sold?

Portal users will not notice any difference in how Stack Overflow works. The team that created it will remain unchanged – as will the practices related to business and marketing practices.

“The way you use our site (…) will not change in the coming weeks or months, and Stack Overflow’s goals and strategic priorities will remain the same.”
Stack Overflow CEO Prasanth Chandrasekar said about the deal.

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Let me know in the comments if you are using Stack Overflow.

Source: wsj.com