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Bitbucket is one of the largest code hosting solutions out there. Supported by Atlassian and used by millions, it uses both Git and Mercurial.
SpecsUpdate
Pros
Pro Free unlimited private repositories for small teams
Bitbucket offers unlimited private repositories for free, as long as the number of members in a team is not larger than 5. In other words, it does not charge for each number of private repository, instead it charges by the number of team members.
Pro Allows importing existing repositories
BitBucket has a feature which allows users to import an existing repository that has been hosted elsewhere.
The process is very simple, either a service is selected from a dropdown menu and then a repo can be chosen and the URL for a repository can be added in the specified field. Once that's done, the repository is now uploade into BitBucket and can be edited, forked and compared to other repos hosted there.
Pro Unlimited contributors for private repositories for students/educators
Atlassian offers student licenses for both students and educators for Atlassian products that will be used in a classroom setting for education. This includes BitBucket, which means that students and teachers can have unlimited private repositories with and unlimited number of contributors.
Pro Backed by a trustable company that has proved it's worth
BitBucket is developed and maintained by Atlassian, which is not an unknown venture, especially for developers. Atlassian has a great number of other products used by million of users worldwide, including JIRA, HipChat, Confluence and Stash.
Cons
Con Not as stable as github
Users have experienced several half a day downtimes, almost every month. True, github is down once in a while, but when GitHub is down complaints breaks loose on Twitter, TechCrunch, and other major media outlets. For the past 5 years github has been down only three times, and two of these times they were attacked by major adversaries.
Recommendations
Comments
Out of Date Pros + Cons
Con No code search
There is currently no way to search for source code inside BitBucket repositories through their website. The only way to search is by downloading the repository and searching through it locally or using external applications.