02
August
2021
|
19:00
Europe/Amsterdam

Prosus closes acquisition of Stack Overflow for US$1.8 Billion

New York – August 2nd, 2021 – Prosus N.V. ("Prosus"), a global consumer internet group and one of the largest technology investors in the world, announced today that it has finalised its acquisition of Stack Overflow, a leading knowledge-sharing platform for the global community of developers and technologists, for US$1.8 billion. The transaction successfully cleared regulatory approval and fulfilled customary closing conditions.

Larry Illg, CEO of EdTech at Prosus, said, “We are thrilled to finalise the acquisition of Stack Overflow and begin working with the team to help accelerate Stack Overflow’s growth ambitions, with a particular focus on reaching a wider international community. We also look forward to helping their Stack Overflow for Teams product to expand and to position Stack Overflow at the centre of product and technology development within major enterprises globally. There is a lot we can do together, and we are excited to be working with Prashanth and his team now as a part of Prosus.”

Stack Overflow’s CEO, Prashanth Chandrasekar, said, “Sharing and discovering knowledge on our large public and private platforms gets developers and technologists the answers they need when they need them, unlocking innovation and accelerating the development of the world's next-generation technologies. The acquisition by Prosus enables Stack Overflow to scale and nurture our foundational global public community and continue to build and rapidly scale products that empower the world to develop technology smarter and faster. We are excited to be joining the Prosus family and furthering our global impact.”

Over the last 13+ years, Stack Overflow has built a global company and a highly engaged developer and technologist community that serves more than 100 million people every month, making it one of the 50 most popular websites in the world. Founded in 2008 as an open community-based question and answer website for developers, the company has expanded to include Stack Overflow for Teams, a leading knowledge sharing and collaboration solution trusted by thousands of the top enterprises around the world. Stack Overflow for Teams and their extensive community content have become a necessity to enterprises, having a meaningful impact on their product and technology development.

Prosus has built a significant presence on the enterprise side with a focus on the future of workplace learning. Prosus reaches 90% of the Fortune 100 across its corporate learning companies including Stack Overflow, Skillsoft, Udemy and Codecademy.

About Stack Overflow

Stack Overflow empowers the world to develop technology faster through shared knowledge. More than 100 million people visit Stack Overflow every month making it one of the 50 most-visited websites in the world. Stack Overflow’s products include the market-leading SaaS knowledge sharing and collaboration platform, Stack Overflow for Teams, in addition to Stack Overflow Reach & Relevance, which is focused on advertising. Organisations such as Bloomberg, Microsoft, Expensify, Zapier, and more partner with Stack Overflow to help them centralise information, increase efficiency, and build faster. Founded in 2008, Stack Overflow is headquartered in New York.

Press contacts:

Prosus - Jill Williams, Business Operations and Communications: [email protected]

Stack Overflow- Khalid El Khatib, Marketing & Communications: [email protected]

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About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities. 

The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors in markets including India, Russia, and Brazil. Through its ventures team, Prosus invests in areas including health, logistics, blockchain, and social commerce. Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to improve people’s everyday lives.

Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including 99minutos, Avito, Brainly, BUX, BYJU'S, Bykea, Codecademy, DappRadar, DeHaat, dott, ElasticRun, eMAG, Eruditus, Flink, GoodHabitz, Honor, iFood, Klar, LazyPay, letgo, Meesho, Movile, Oda, OLX, PayU, Quick Ride, Red Dot Payment, Remitly, Republic, Shipper, SimilarWeb, Skillsoft, SoloLearn, Swiggy, Udemy, Urban Company and Wolt.

Hundreds of millions of people have made the platforms of Prosus’s associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent, Mail.ru, Trip.com Group Limited, and DeliveryHero.

Today, Prosus companies and associates help improve the lives of more than 2 billion users globally. 

Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and secondary listings on the Johannesburg Stock Exchange (XJSE:PRX) and a2X Markets (PRX.AJ). Prosus is majority-owned by Naspers.

For more information, please visit www.prosus.com.

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

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