When online developer community Stack Overflow brought on its new CEO, Prashant Chandrasekar, on board in November last year he had no plans of raising fresh funds for the company before 2021. As coronavirus brought on dramatic changes across the globe, Stack Overflow had to review its plan.
Stack Overflow’s public question and answer platform, also has job listings for developers looking for new projects. Developers can use it to re-skill themselves, find out what programming languages are in demand and network with other developers to up their game.
“India is a big user base for us and it’s untapped in the context of our Team’s product. Almost entirely India’s association today is with the largest number of users,” Prashant Chandrasekar told Business Insider in an interview.
He believes India will be “huge powerhouse for software development for companies in the west.” Be part of Business Insider’s Global Trends Festival scheduled for October 19 to October 23 this year to get more insights into Chandrasekar’s vision on how technology can accelerate India’s development and employment.
In July 2020, at the peak of the pandemic, the company raised $85 million and brought on a new investor, Silver Lake Waterman. The fresh funds will almost entirely be focused on boosting Stack Overflow for Teams, Chandrasekhar revealed..
As the monthly sign ups on its public platform and Teams product jumped from 150,000 on average in 2019 to 260,000 in April — staying well above 200,000 in the months that followed — investors pinged, and Stack Overflow answered.
The public platform is free for use but Stack Overflow for Teams is a paid product. It’s a knowledge management software for developers to ask questions and find answers— the key to Chandrasekar’s strategy to rapidly transform Stack Overflow into a software-as-a-Service (SaaS) company.
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