Stack Overflow, the venerable programming Q&A site, has been acquired by Prosus N.V., Europe’s largest technology investment firm. According to a press release on Prosus’ website, the two companies entered into a definitive acquisition agreement yesterday.
Since 2008, the site has served as the first port of call for developers seeking answers to programming-related questions—and, eventually, questions about anything else, as the Stack Exchange network of sites expanded into categories such as culture, recreation, arts, science, and business.
The company behind Stack Overflow, which now serves over 100 million people monthly, has built a global company that supports a very engaged developer and technologist community over the last 13 years.
Because of the investment firm’s low public profile, Prosus is likely to be unfamiliar, particularly to Americans. Despite its European headquarters, Prosus invests globally; for example, it has the largest single stake in Tencent, a Chinese gaming and social media company.
Stack Overflow co-founder Joel Spolsky blogged about the acquisition, and Stack Overflow CEO Prasanth Chandrasekar made a more formal announcement.
According to both blog posts, the acquisition will have little to no impact on Stack Overflow’s day-to-day operations.
“How you use our site and products will remain unchanged in the coming weeks and months,” Chandrasekar explained, “just as our company’s goals and strategic priorities will remain unchanged.”
He further stated following the completion of this acquisition, we will have increased resources and support to expand our public platform and paid products, allowing us to significantly accelerate our global impact. And it could manifest as more rapid and robust international expansion, M&A opportunities, and deeper partnerships on Stack Overflow and within Stack Overflow for Teams.
Spolsky went on to say that Stack Overflow will continue to exist “Continue to operate independently, with the exact same team in place, following the exact same plan and business practises. There will be no major changes or awkward synergies’… the entire company will remain intact; we just have new owners.”
Source : Press Release