Stack Overflow

Stack Overflow is a forum for developers ON and IT professionals founded in 2008, which allows you to exchange knowledge in a Q&A format, in particular programmers exchange code and solve problems with software development. The founders of the service are Joel Spolsky (author of the planning program Trello) and Jeff Atwood (one of the developers). Microsoft Excel Approximately 100 million users visit Stack Overflow every month, a quarter of whom copy material from the site. The service makes money by advertising technology products and companies.

The company also receives income from the Stack Overflow for Teams collaboration service. Developers use this service to discuss technical issues on program projects, and company IT departments use it to exchange responses to typical support requests.

History

2023:28% staff cut

On October 16, 2023, the popular Stack Overflow platform, which is a programming Q&A system, reported staff reductions. The staff will be reduced by more than a quarter - by 28%. The company associates this with macroeconomic pressure and the need to change the operating structure in order to ensure profitability.

The reorganization was announced by Stack Overflow CEO Prashanth Chandrasekar. Stack Overflow is a critical industry knowledge base for millions of developers and technologists around the world, he said. The company is committed to introducing innovations including artificial intelligence and machine learning technologies. However, in the current market environment, changes are needed that will ensure the success of Stack Overflow in the long term.

Stack Overflow reports staff cuts

This year [2023], we have taken many steps to reduce costs. The changes were carried out in such a way as to have a minimal impact on our employees. Unfortunately, these measures were not enough, and we made an extremely difficult decision to reduce the company's staff by about 28%, Chandrasekar said.

Stack Overflow employed more than 500 people as of the end of 2022. Thus, layoffs can affect 140 employees. The company says the organizational changes will affect various divisions, including the support team. In 2024, Stack Overflow intends to focus the main efforts on the further development of its products. The company notes that business is influenced not only by economic factors, but also by market trends, in particular, the rapid development of generative AI platforms. In such an environment, the new corporate structure is designed to ensure maximum efficiency.^[1]

2021: Prosus bought Stack Overflow for $1.8 billion

In early June 2021, the Dutch investment company Prosus announced the purchase of a large Q&A service for Stack Overflow programmers. The deal is estimated at $1.8 billion.

Prosus acquired Stack Overflow

We are pleased to announce today that Stack Overflow is joining Prosus. Prosus is an investment and holding company, meaning Stack Overflow will continue to operate independently, with the same team that worked previously, under the same plan and exactly the same business practice. Don't expect major changes or inappropriate "synergy." Stack Overflow's business will continue to focus on reach and relevance, as well as Stack Overflow for Teams, "said Stack Overflow co-founder Joel Spolsky.[2]

Notes