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Tech investment firm Prosus NV today said that it will pay $1.8 billion to acquire Stack Overflow, a hugely popular website for developers that boasts more than 100 million users.
Stack Overflow is operated by Stack Exchange Inc., a venture-backed startup that has raised more than $150 million from investors including Andreessen Horowitz and Index Ventures. The deal will also see Prosus obtain Stack Overflow for Teams, a cloud-based collaboration service that the startup operates alongside its website.
Prosus is a publicly traded unit of South African internet giant Naspers Ltd. that invests in tech firms. It has a more than $200 billion stake in Chinese technology giant Tencent Holdings Ltd. and partially or fully owns companies across a wide variety of segments ranging from food delivery to payment processing. Prosus says the companies in its portfolios have more than 1.5 billion users across dozens of countries worldwide.