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Jun 3, 2021

Stack Overflow sold to Prosus for $1.8 billion.
Stack Overflow announced they'll be acquired by Prosus, a European investment and holding company. Stack Overflow is the leading online community for software developers and has over 100M monthly visitors. Prosus is best known as the largest shareholder in Chinese internet and videogaming giant Tencent. They acquired the Tencent stake in 2001 for $34 million and it's now worth $200 billion 😲. The deal lets Stack Overflow continue as an independent site "with the exact same team in place that has been operating it, according to the exact same plan and the exact same business practices", and also mints 61 new millionaires. The Stack Overflow deal is Prosus’ first acquisition in the educational tech space but they do already owns stakes in two educational tech companies - Udemy and Codecademy. Link

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