Popular social chat app Discord is reportedly in talks with investment bankers to prepare for an initial public offering (IPO) later this year. The company was last valued at $15 billion by private investors in 2021. Despite market volatility and slow IPO starts this year, Discord is exploring the possibility of going public.
Discord, founded by Jason Citron and Stanislav Vishnevskiy, initially started as a video games studio but pivoted to create a platform that allows users to chat over text, voice, and video calls for free. The app has gained popularity among gamers, reaching over 200 million users monthly, with 93 percent using it to play games.
The company generates revenue through a freemium model, where users can pay for upgraded features like custom emojis and higher-quality voice and video chat. Discord has also expanded its appeal by embracing influencers, musicians, and other figures who create their own chat rooms for fans to gather.
In an effort to further expand its business, Discord recently launched an online shop where users can enhance their profiles and add custom graphics to their digital avatars. The company’s focus remains on delivering the best possible user experience and building a strong, sustainable business.
While the IPO plans are still in exploratory stages and subject to change, Discord’s potential public listing could provide a much-needed boost to the market and private companies considering going public. Other companies, like CoreWeave, have also filed for IPOs despite growing turbulence in the financial markets.
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