Stack Overflow, a platform for developers, on Tuesday said about 15 per cent of the visits on its public platform are from India, and Bengaluru accounts for the largest share of its global user base.
Stack Overflow, which has formed a strategic partnership with Times Bridge to bring its 'Stack Overflow for Teams' to the Indian market, said it is hopeful of converting many Indian developers and technologists to be customers of the new product being launched here.
Times Bridge is the global investment and partnership arm of the Times Group.
"With over 3 million software developers working in India, it's the largest market for developers after the US. India also has the highest number of Stack Overflow's public platform users, but we have no teams customers in the region," Stack
Overflow Chief Executive Officer Prashanth Chandrasekar told PTI.
The Times Bridge team will help promote and sell 'Teams' to India's large number of rapidly growing enterprises and the developers and technologists working in India, he added.
Times Bridge will also be Stack Overflow's sales partner in India and will introduce the Teams product to enterprises across sectors, including IT/ITES, Consumer Tech, Telecom, BFSI, and Consultancies among others.
"Over 100 million people visit our public platform every month...Traffic from India represents approximately 15 per cent of that number; and Bengaluru, India is the city with the highest number of Stack Overflow users in the world...we hope to convert many of the Indian developers and technologists who know and love Stack Overflow to be customers of Stack Overflow for Teams," Chandrasekar said.
He, however, declined to comment on revenue targets from the Indian market.
Stack Overflow employs close to 300 people. The company generated $70 million in revenue in 2019 and the 'Teams' product is rapidly growing (doubled in 2019). Stack Overflow has over two lakh paid users.
The company, which has raised a total funding of $153 million, had announced its series E round of $85 million in July that saw participation from Times Bridge. This was led by GIC with participation from Silver Lake Waterman and existing investors Andreessen Horowitz, Index Ventures, Spark Capital, and Union Square Ventures (USV).
Chandrasekar said the partnership with Times Bridge will enable Stack Overflow to launch, scale and expand its reach in India.
The SaaS market in India is growing at 30 per cent CAGR, having touched $3.5 billion in revenue by financial year 2020, the company said citing Nasscom data. PTI SR SHW SHW