Stack Overflow sold to tech giant Prosus for $1.8 billion ↦
I hadn’t heard of Prosus prior to this announcement, so if you’re at all like me, this is for you:
Prosus invests globally across a range of online platforms focused on areas such as food delivery, classifieds and fintech. It also maintains a more than $200 billion holding in Tencent. Prosus’ parent company, Naspers Ltd., acquired the Tencent stake in 2001 for $34 million.
Turning $34 million into $200 billion is quite the feat. They’re a savvy bunch, if nothing else. Joel Spolsky also wrote about the acquisition on his blog, ensuring us that everything is going to be okay:
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.
I hope he’s right, but color me skeptical. Stack Overflow surely isn’t perfect as is, but it’d be a huge set back to the software world if it were to decline from here.
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