FOSSA, an open-source compliance and security platform, has recently acquired StackShare, a popular developer community platform. StackShare is known for providing a space for developers to discuss and share the tools they use to build applications, ranging from front-end JavaScript frameworks to cloud providers for specific tasks.
Yonas Beshawred, the solo founder of StackShare, created the platform to address the challenge of choosing the right technologies for web application development. The company raised $12 million from investors and had significant user numbers before the acquisition by FOSSA, which is valued at over $100 million and provides governance for third-party code, including open-source licenses.
Kevin Wang, founder and CEO of FOSSA, emphasized the importance of better visibility and management of developer tools within organizations, which led to the acquisition of StackShare. Beshawred will join FOSSA as the head of product, and the terms of the deal, though undisclosed, were mutually satisfactory.
The acquisition process, according to Beshawred, was akin to fundraising, relying on a compelling story, metrics, and a strong team for success. He expressed gratitude for the support from various individuals, particularly from the Black community, underscoring the need for more diversity in investing in the developer tools and enterprise space.
