Stack Overflow, Now Stack Exchange, Raises $12 M.

The fast growing Q&A network Stack Overflow has decided to take a new name along with its just announced $12 million B round. 

From now on its Stack Exchange, a nod to the diverse portfolio of sites that have grown out of the original community of computer programers. 

“We were pretty sure that given the current market conditions, we could easily raise a big pile of new Unicorn-bucks without losing control of the company,” wrote co-founder Joel Spolsky. “We made a few phone calls, took a few meetings, I flew to London and Boston, and hey presto, we sold another $12 million worth of the company to some great investors.”

That’s a bit of tounge in cheek banter on the current state of venture capital. The Observer has learned that SE still has plenty of money left over from its last round of funding. But with all the indicators pointing in the right direction now seemed like a good time for SE to bank for a rainy day. 

Answers are piling up about cooking, photography, even bike repair. In Area 51, where SE incubates new topics, firearms and music theory are closing in on public beta. 

Given that Silicon Valley Q&A site Quora has a valuation of $300 million — and SE is bigger, faster growing and well capitalized — some pundits are wondering if New York has a potential powerhouse on its hands. 

bpopper [a]t | @benpopper

Stack Overflow, Now Stack Exchange, Raises $12 M.