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Stack Overflow sold to Prosus for $1.8B

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Re: Stack Overflow sold to Prosus for $1.8B

#461
post #11

I always thought Microsoft would be a natural buyer given the tech stack and Microsoft's support for developers. Unrelated story, I have a day one Stack Overflow account. I don't remember how I found it but I'm sure it was posted on digg or slashdot or something at the time. I had a lot of posts in the first few years about some generally broad concepts, and completely inactive since. In spite of this, I am in the to…

Me too! My user id is 26 :P

Re: Stack Overflow sold to Prosus for $1.8B

#462
post #216
post #97

Earlier quoted context omitted.

I loved listening to the Stack Overflow podcast with Jeff and Joel. It was kinda crazy that they were doing a podcast like that while they (Jeff mostly) were building it and coming up with the name, etc. Still have all the mp3's somewhere. Edit: I'm in the top 2%. Most of my rep. comes from interest earned on questions/answers I posted very early on.

I think most of it is really down to the quality of the answers you've given combined with the vast amount of users on SO. I'm user 537XXXX with an account that can't be more than 8 years old but I did spend a solid 6 months actively posting detailed solutions to problems I ran into - ~50 in total. And some more general answers. Which has amounted to ~4.900 points. Which isn't _that_ much. Just 490 upvotes. Or 10 per…

It's also very much about timing. If you happen to write a popular answer at the time when interest in some particular tech is high for whatever reason, that gets a lot of views and upvotes early on. And once it has those upvotes, people looking for related answers later are more likely to stumble onto it.

I still get a steady rep trickle from a generic answer about WinRT back when Win8 was the hot new thing (or mess, depending on your outlook): https://stackoverflow.com/questions/7416826/how-does-windows... - but most upvotes there are from back when it was posted, and I doubt it would get anywhere as many if that answer was written today.

And sometimes, it's the tongue-in-cheek answers that score massive upvotes, like the famous one about using regex to parse HTML.

Re: Stack Overflow sold to Prosus for $1.8B

#463
post #292

Earlier quoted context omitted.

Possibly related: SO requires you reach some number of upvotes before you yourself can upvote. When I use SO and try to upvote a useful answer I'm always reminded that I don't have the privilege of upvoting.

I have given up on participating on SO because more often than not I am told I don't have enough reputation to do something (I don't know if it's commenting or giving an answer or giving an upvote but there are some questions for which answers are wrong or need some updates and I can't participate. So I just don't by default. I think I can't upvote on some stack and I find this weird).

I can't downvote your comment here on HN, presumably because I don't have enough reputation. And HN doesn't even tell me.

Re: Stack Overflow sold to Prosus for $1.8B

#464

While I'm happy for the people who made a lot of money in this transaction, I always read these announcements with a bit of angst. From a user point of view, I expect this to go like Reddit has, for example. Everyone building that value saw high use value, returns on their investment in the form of information they need, lean, easy to find, high signal to noise. Now there is a debt to be paid. The new owner needs to…

I dunno. Reddit seems like an example of a successful acquisition. Conde Nast managed not to destroy Reddit after buying it. But I agree with you overall. I'm a bit nervous too. Stack Overflow is so good, and its fate is now entirely in the hands of the purchaser. EDIT: In the other announcement post ( https://www.joelonsoftware.com/2021/06/02/kinda-a-big-announ... ): Today we’re pleased to announce that Stack Overfl…

> Conde Nast managed not to destroy Reddit after buying it.

I would have said the exact opposite. The Reddit community was destroyed. People no longer recommend Reddit for interesting discussions or speak excitedly about its communities. Conde Nast monetized and changed Reddit, recouping their investment, and now it's hard to find people who have good things to say about it.

Consider e.g. /r/darknetplan or similar topic focused subreddit a that were thriving in the early 2000s - all graveyards today. Those people are on Discord now.

Re: Stack Overflow sold to Prosus for $1.8B

#466
post #11

I always thought Microsoft would be a natural buyer given the tech stack and Microsoft's support for developers. Unrelated story, I have a day one Stack Overflow account. I don't remember how I found it but I'm sure it was posted on digg or slashdot or something at the time. I had a lot of posts in the first few years about some generally broad concepts, and completely inactive since. In spite of this, I am in the to…

Same for me. Day 1. I'm user 25 on the site as I listened to the podcast about them making it. Just for answering a few questions early I'm in the top 0.76% overall. https://stackoverflow.com/users/25/codingwithoutcomments

Ha, I'm user 26! So funny: https://stackoverflow.com/users/26/shawn

Re: Stack Overflow sold to Prosus for $1.8B

#467
One one hand, I'm glad that Stackoverflow is profitable. That someone is making money on it. On the other, I'm peeved that someone made two billion on all free content I and others created for no other gain than imaginary internet points. Without our work, SO wouldn't have been worth much. None of us can objectively claim to have been take advantage of... but still...

Re: Stack Overflow sold to Prosus for $1.8B

#468

I hadn't heard of Prosus or Naspers before this. Apparently Naspers owns 31.2% of Tencent. Time to revisit my assumptions with respect to how companies are owned.

Naspers' market cap is 98B, yet they own 31% of Tencent which is worth 775B - am I missing something? I'm aware of conglomerate discounts but I suspect there's something else going on here.

Most of what I read previously about this has to do with a lot of uncertainty about how the Nasper's stake in Tencent will eventually be taxed or how the value will be extracted, and a lot of uncertainty about South African business in general.

Note that Prosus, which is a subsidiary almost completely owned by Nasper (they have a small amount of public float), is worth close to $180 billion, which is much closer to the Tencent holding value. This reflects that people are much more confident of Dutch business than of South African business, and there probably is every right to be.

Re: Stack Overflow sold to Prosus for $1.8B

#469

Earlier quoted context omitted.

I dunno. Reddit seems like an example of a successful acquisition. Conde Nast managed not to destroy Reddit after buying it. But I agree with you overall. I'm a bit nervous too. Stack Overflow is so good, and its fate is now entirely in the hands of the purchaser. EDIT: In the other announcement post ( https://www.joelonsoftware.com/2021/06/02/kinda-a-big-announ... ): Today we’re pleased to announce that Stack Overfl…

>> The entire company is staying in place: we just have different owners now. I've been a part of a couple of these. This statement is somewhere on the spectrum of absolutely naive to willfully disingenuous. "Someone just paid 2 billion dollars to buy us, but they're not going to change anything, exert any influence or expect payback beyond what we've already been doing."

I read this differently -- I think there's a ceiling on just how much money SO will make, and the SO team has realized there's no future in which they are a company that makes $1B or so per year. Which is fine, but hard if you want to play in vc land or go public.

There definitely are companies that will buy something like this to operate it essentially as an annuity.

The risk to the employees there is if SO essentially becomes done and the owners want to put it in maintenance mode and operate it as a run-out.

Also, it's been 12 years. There's probably a bunch of employees that would like some liquidity.

Re: Stack Overflow sold to Prosus for $1.8B

#470
post #442

Recent discussion about their tech stack: https://stackoverflow.blog/2021/03/30/roberta-arcoverde-stac... Summary: simple as possible, maintainable, no micro-service hell - just a bunch of boxes serving with the cache and highly optimized SQL queries. Know your storage engine. This is yet another example that not getting bogged down in cargo cults, micro-services, and instead solving problems you have will result in…

You can bet your ass if one of these obscenely funded startup takes on the same problem, you are going to see all of that microservices, event sourcing, reactive patterns, service mesh jazz all over the place when they are dealing with like 100k users. And throw in the obligatory machine learning for intelligent ranking or some shit like that.
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