Afrigather Based on South African web firm Naspers’ H12022 monetary outcomes which had been launched yesterday, developer knowledge-sharing platform Stack Overflow recorded a 33% income progress within the six-month reporting interval which ended 30 September 2022.
Naspers-owned Prosus acquired Stack Overflow in June 2021 for $1.8 billion, a deal each firms described as mutually-beneficial. Stack Overflow might use Prosus’ assets to scale its product providing whereas Prosus seen Stack Overflow as the perfect funding for his or her concentrate on the way forward for office studying and collaboration.
After the acquisition, Prosus CEO of EdTech Larry Illg remarked, “We’re thrilled to finalise the acquisition of Stack Overflow and start working with the staff to assist speed up Stack Overflow’s progress ambitions, with a specific concentrate on reaching a wider worldwide group. We additionally look ahead to serving to their Stack Overflow for Groups product to broaden and to place Stack Overflow on the centre of product and expertise growth inside main enterprises globally.”
Based on Naspers’ monetary outcomes, Stack Overflow’s whole variety of bookings grew by 53% in the course of the reporting interval, with income rising organically by 33%, to $45 million. This progress, in keeping with Naspers, was pushed by Stack Overflow for Groups, which allows organisations to construct their very own inner communities on prime of the open platform.
By the top of the reporting interval, Stack Overflow for Teams had 1,262 paying groups, producing an annual recurring income of US$50m, in keeping with the monetary outcomes
General, Naspers’ edtech portfolio, which contains 11 investments together with platforms corresponding to Stack Overflow, Skillsoft, Udemy and BYJU’s, noticed revenues rising by 38% to $334 million, with $178 million in buying and selling losses.
