Stack Overflow Secures $12M Series B Funding and Officially Changes Company Name to Stack Exchange

NEW YORK--(BUSINESS WIRE)--Stack Overflow, Inc., a leading creator of community-driven expert Q&A sites, today announced it has closed a $12 million Series B funding round led by Index Ventures, with additional participation by Spark Capital and Union Square Ventures. The funds will be used to support the company?s phenomenal growth since it launched the Stack Exchange network in August 2010.

?Today?s funding, coupled with the meteoric organic growth Stack Exchange has experienced over the last six months, is a true vote of confidence from the VC and Internet communities that we are on the right path and filling a distinct need?

In conjunction with the funding, the company announced that it has officially changed its name to Stack Exchange, Inc. to better reflect its new strategic focus on developing its network of community-driven expert Q&A sites. The funds will also be used to explore and develop new offerings and revenue streams, such as the recently re-launched Stack Overflow Careers 2.0 job search and recruitment site.

?Today?s funding, coupled with the meteoric organic growth Stack Exchange has experienced over the last six months, is a true vote of confidence from the VC and Internet communities that we are on the right path and filling a distinct need,? said Joel Spolsky, CEO of Stack Exchange. ?The Stack Exchange model of focusing on high quality questions and expert answers, and fostering organic community growth, is both desirable and sustainable. And each new site that our members launch creates incredible new opportunities to capture and share expert knowledge, which improves the quality of information available online for everyone.?

Illustrating the company?s incredible growth, Stack Exchange has reached the following milestones:

• Since launching the Stack Exchange in August 2010, the network has grown from three IT-centric Q&A sites to 45 sites spanning a growing number of topics including cooking, photography, physics, English language and usage, and more.
• The network has grown over 60% since August to nearly 20 Million unique monthly visitors in February.
• With nearly 95 million page views in February, Alexa ranks StackOverflow.com the 126th largest site in terms of traffic.
• The network has nearly 800,000 registered users.
• Our Careers site lets employers search more than 23,000 great developers.

To facilitate Stack Exchange?s continued growth and development, the company also announced that Neil Rimer co-founder and Partner at Index Ventures; and Anil Dash, a prolific blogger, serial entrepreneur and long-time advisor to Stack Exchange and many other start-ups; has joined its Board of Directors. Bijan Sabet of Spark Capital also joins the Board as an observer.

?Stack Exchange is a stand-out among some noteworthy companies in a very exciting space. We have rarely seen sites that engage a community as deeply as Stack Overflow. We believe that Stack Exchange?s singular focus on building very high-quality, community-driven Q&A sites is a winning strategy,? said Neil Rimer, co-founder and Partner at Index Ventures. ?Stack Exchange is disrupting and reshaping the way human knowledge is digitized, organized, prioritized and shared online. I?m really looking forward to joining Stack Exchange?s Board and helping to shape the future of this exciting company.?

About Stack Exchange

Headquartered in New York City, Stack Exchange is a fast-growing network of question and answer sites covering a diverse range of topics from software programming and cooking to photography and personal finance. Founded in 2008, co-founders Jeff Atwood and Joel Spolsky brought together millions of computer programmers from around the world to help each other with detailed technical questions. Based on Stack Overflow?s success, the company expanded and launched the Stack Exchange Network in August 2010. Stack Exchange currently consists of 45 sites and has more than 19 million unique monthly visitors ? and growing. To date, the company has raised more than $18 million from Union Square Ventures, Index Capital and Spark Capital. For more information, please visit www.stackexchange.com.