Stack Overflow, which is based in New York, operates a q-and-a website used by software developers, financial professionals and marketers that may require coding skills. In April, Stack Overflow.com saw more than 290 million total monthly visits, according to SimilarWeb. In addition to its tech community functions, it includes a powerful job board that’s used widely for tech developers.
The acquisition of Stack Overflow strengthens Prosus’ investments in educational technology companies and it also reflects a changing landscape as major businesses transform to supportpolicies and distributed teams across different regions.
The Stack Overflow deal is Prosus’ first outright acquisition in the educational tech space. Prosus already owns stakes in two educational tech companies — Udemy and Codecademy. It is set to make an investment in Skillsoft, a publisher of training software used by businesses.
The transaction is expected to close by Q3 of 2021 and is subject to regulatory approval and customary closing conditions.
“We are delighted to be welcoming Stack Overflow to the Prosus family as we increasingly focus on the future of workplace learning. Learning of any kind typically begins with a question and their platform is critically important for global developers when they have questions about their work. There is an opportunity to connect more deeply with their community through our other education platforms to further fulfill their learning needs,” Larry Illg, CEO of edtech at Prosus, said in the news release.