As you may have seen in the news this morning, Prosus (AEX:PRX) has announced its intention to acquire Stack Overflow for 1.8 billion dollars. This is tremendously exciting news for our employees, our customers, our community members, and for our shareholders, and I will share a bit more about what it all means in this post.
Prosus is one of the world’s leading technology investors with stakes in companies such as Tencent, Brainly, BYJU’s, Codecademy, OLX, PayU, Remitly and Udemy. Their massive scale and reach improves the lives of around a fifth of the world’s population. Prosus’s mission is to build leading companies that empower and enrich communities, as demonstrated by the many community-focused and EdTech companies they work with. This makes Prosus the perfect company to acquire Stack Overflow, and Stack Overflow the ideal investment in their focus on the future of workplace learning and collaboration. It allows us to continue to operate as an independent company with our current team and with the backing of a global technology powerhouse.
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.
Prosus is a long-term investor and loves what our company and community have built over these last 13+ years. They are impressed by the SaaS transformation the company has been on since the launch of Stack Overflow for Teams and especially over the last two years. Prosus recognizes our platform’s tremendous potential for impact and they are excited to launch and accelerate our next phase of growth.
How you use our site and our products will not change in the coming weeks or months, just as our company’s goals and strategic priorities remain the same. As the acquisition is finalized, and we continue to partner with Prosus, I will keep you all posted through my regular quarterly blog posts and Teresa Dietrich, our Chief Product and Technology Officer, will do the same in her quarterly community blog posts.
I want to conclude by thanking all of you for your contributions over the years. Whether you asked or answered a question on our site or simply copy and pasted code, whether you once found a job on Stack Overflow or you’re one of the hundreds of thousands of users of Stack Overflow for Teams. We could not have achieved this milestone without you.
This milestone is just the beginning. Since 2008, our public platform has helped developers and technologists over 50 billion times. That’s just us getting started, and I can’t wait to continue to update you on what’s next.Tags: announcement, company, prosus, stack overflow