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Stack Overflow closes Series B financing round.

TELECOMWORLDWIRE-March 9, 2011-Stack Overflow closes Series B financing round(C)1994-2011 M2 COMMUNICATIONS

Community-driven expert Q&A sites creator Stack Overflow Inc announced on Wednesday that it has closed a USD12m Series B funding round led by Index Ventures, with additional participation by Spark Capital and Union Square Ventures.

The company said that the funds will be used to support its growth since it launched the Stack Exchange network in August 2010.

The funds will also be used to develop new offerings and revenue streams, such as the recently re-launched Stack Overflow Careers 2.0 job search and recruitment site.

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 company also announced that Neil Rimer, co-founder and partner at Index Ventures; and Anil Dash, a blogger, entrepreneur and long-time advisor to Stack Exchange; have joined its board of directors. Bijan Sabet of Spark Capital also joins the board as an observer.

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Comment:Stack Overflow closes Series B financing round.
Article Type:Brief article
Geographic Code:1USA
Date:Mar 9, 2011
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