Whalesbook
Discord Inc. is making moves toward Wall Street.
The popular chat platform has filed confidentially for an initial public offering, according to individuals familiar with the matter. This move positions Discord among a growing cohort of technology firms preparing for public market debuts.
Tech IPO Momentum
The San Francisco-based company is reportedly collaborating with Goldman Sachs Group Inc. and JPMorgan Chase & Co. on the potential listing. This confidential filing strategy allows Discord to assess market appetite without immediate public disclosure of sensitive details. It joins a robust pipeline of companies seeking to capitalize on the US market's strong performance in first-time share sales.
User Base and Growth
Discord boasts over 200 million monthly users, according to data from December. Originally designed with gamers in mind, its platform has expanded to accommodate a diverse range of communities, from investors to hobbyists. The company offers both a free tier and a paid Nitro subscription for enhanced features. Humam Sakhnini took over as chief executive officer in April, succeeding co-founder Jason Citron.
Valuation and Past Interest
In a 2021 funding round, Discord was valued at approximately $15 billion. Notably, the company reportedly rejected a $12 billion takeover bid from Microsoft Corp. earlier that year. Discord has also faced scrutiny regarding child safety measures on its platform, an area where it states about 15% of its staff are employed to develop and implement safety initiatives.