In a blog post Prosus NV, announced the great announcement that they have acquired Stack Overflow an online community for software developers, in what is seen as the e-commerce and technology giant's first direct purchase in the educational technology space. The purchase was agreed for $ 1.8 billion dollars.
Prosus is an international group specialized in consumer Internet. The group focuses on building businesses in the areas of online classifieds, food delivery, payments and financial technology, as well as educational technology in markets such as India, Russia and Brazil.
Prosus is investing heavily now that e-commerce, which ranges from food delivery to job training, is on the rise due to the corona pandemic. The company also has money for it. It sold shares of Chinese internet giant Tencent Holding for $ 14.600 billion earlier this year, quadrupling its cash supply.
Thanks to your entrepreneurship team, Prosus invests in areas such as healthcare, logistics, blockchain, and social commerce. In its active search for new opportunities and partnerships, the company invests globally in markets with long-term growth potential.
“Today we are pleased to announce that Stack Overflow joins Prosus, an investment company, Stack Overflow will continue to operate independently, with exactly the same team. Don't expect to see major changes or 'awkward synergies,' "said JOEL SPOLSKY. “The Stack Overflow business will remain the same. The whole business remains in place: now we just have different owners, ”he said. Joel Spolsky Chairman of the Board of Stack Overflow, Glitch and HASH
Stack Overflow CEO Prashanth Chandrasekar said:
“We are delighted to join the Prosus family, which takes us into a new phase of growth and allows us to expand and accelerate the impact of Stack Overflow around the world. Prosus' experience in community development and maintenance, especially in a global context, will make our public platform even more valuable in helping developers and technologists learn and grow. ” “With Prosus focused on the future of the workplace, the partnership will enable our SaaS collaboration product, Stack Overflow for Teams, to reach thousands of companies around the world.
“With persistent skills shortages and the changing needs of technology companies, technology training has become the largest and most dynamic segment of training and business development. As a commercial operator in more than 90 countries, we understand the needs of technologists and developers, especially in high-growth markets. In addition to continuing to expand their community in markets we know well, we want to help Stack Overflow teams grow within companies to respond to a neglected opportunity, ”he continued.
Spolsky even reassured his community by commenting on the following:
“Stack Overflow will continue to operate independently, with exactly the same team that operated it, following the exact same plan and business practices. Don't expect to see big changes or uncomfortable "synergies." (…) The whole business stands still: now we have different owners « .
Continue explaining that this purchase is the best thing that can happen to your platform. First, because Stack Overflow will remain "Independent" and second because it will have "A lot of money to develop, offer new functions and improve old ones".
A point of view shared by Prashanth Chandrasekar, current CEO of Stack Overflow, who explains in his press release: “The way you use our site and our products will not change in the coming weeks or months, as will the goals. And our company's strategic priorities remain the same. "
Finally It is mentioned that access to the Stack Overflow website will continue to be free and that will remain unchanged. If you want to know more about the note, you can check the original announcement on the Prosus blog at the following link.