What is 'Stack Overflow', and why did Prosus (Naspers) pay R24.5 billion for it?
Naspers-owned Prosus is buying Stack Overflow for $1.8 billion
Stack Overflow is a question-and-answer website for professional and enthusiast programmers
The website has 100 million users
Stack Overflow is not yet profitable
Prosus – the company that holds the international assets of Naspers - is buying programming Q&A website Stack Overflow for $1.8 billion (about R24.5 billion).
“Today we’re pleased to announce that Stack Overflow is joining Prosus,” wrote Stack Overflow co-founder Joel Spolsky on his blog.
“Prosus is an investment and holding company, which means that the most important part of this announcement is that Stack Overflow will continue to operate independently, with the exact same team in place that has been operating it, according to the exact same plan and the exact same business practices.
“Don’t expect to see major changes or awkward ‘synergies’.
“The business of Stack Overflow will continue to focus on Reach and Relevance, and Stack Overflow for Teams.
“The entire company is staying in place: we just have different owners now.”
The Money Show’s Bruce Whitfield asked Siboniso Nxumalo (a portfolio manager at Old Mutual Investment Group) why the tech giant is paying $1.8 billion for Stack Overflow (scroll up to listen to the interview).
It’s a bit like Google for nerds… It’s got about 100 million users. It doesn’t make money… so we don’t know what it’s worth… This could go global…Siboniso Nxumalo, portfolio manager - Old Mutual Investment Group
You get platforms like this, when someone’s stuck… They get immediate, high-quality answers…Siboniso Nxumalo, portfolio manager - Old Mutual Investment Group
Recruiters can find people…Siboniso Nxumalo, portfolio manager - Old Mutual Investment Group
This article first appeared on CapeTalk : What is 'Stack Overflow', and why did Prosus (Naspers) pay R24.5 billion for it?
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