Discord Files Confidentially for IPO, Targeting March Listing with Major Banks
Discord Inc. has confidentially filed for an initial public offering with Goldman Sachs and JPMorgan as lead banks, targeting a March listing timeline. The San Francisco-based chat platform, popular among gamers and programmers, serves over 200 million monthly users and operates on a freemium model with its paid Nitro subscription service. The company was last valued at ₹1,24,650 crores ($15 billion) in 2021 and joins a growing pipeline of venture capital-backed technology companies preparing for public listings amid a strengthening US IPO market.
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Discord Inc., the San Francisco-based chat platform, has filed confidentially for an initial public offering, adding momentum to the rapidly expanding pipeline of venture capital-backed technology listings in the US market.
IPO Details and Banking Partners
The gaming and programming-focused chat application is collaborating with Goldman Sachs Group Inc. and JPMorgan Chase & Co. on the potential listing, with discussions targeting a March timeline. However, deliberations remain ongoing, and the company retains the option to abandon the IPO plans entirely.
| Parameter: | Details |
|---|---|
| Lead Banks: | Goldman Sachs Group Inc., JPMorgan Chase & Co. |
| Target Timeline: | March listing |
| User Base: | Over 200 million monthly users |
| Last Valuation: | ₹1,24,650 crores ($15.00 billion) in 2021 |
| Funding Round Leader: | Dragoneer Investment Group |
Representatives from both Goldman Sachs and JPMorgan declined to provide comments on the matter. Discord's spokesperson emphasized the company's continued focus on delivering optimal user experiences and building a sustainable business model, while declining further commentary on the IPO filing.
Market Context and Tech IPO Momentum
The potential Discord listing comes amid a strengthening US market for initial public offerings. Technology IPOs on US exchanges generated $15.60 billion in the previous year, representing more than double the amount raised in 2024. The current pipeline includes several notable companies awaiting potential listings, such as AI-enabled fleet management software firm Motive Technologies Inc. and Asia-based travel application developer Klook Technology Ltd.
Company Background and Business Model
Founded in 2015, Discord provides comprehensive communication services including voice, video, and text chatting capabilities. The platform operates on a freemium model, offering basic services at no cost while generating revenue through its paid Nitro subscription product, which enables enhanced streaming features and customization options.
| Business Model: | Details |
|---|---|
| Founded: | 2015 |
| Core Services: | Voice, video, text chat |
| Revenue Model: | Freemium with Nitro subscriptions |
| Target Audience: | Initially gamers, now diverse communities |
While initially designed for gaming communities, Discord has evolved to support diverse user groups creating servers focused on topics ranging from beatboxing and investing to community radio broadcasting. The platform's versatility has contributed to its substantial user base growth.
Leadership Changes and Corporate History
Humam Sakhnini, former vice chairman of Activision Blizzard, assumed the role of chief executive officer in April, succeeding co-founder Jason Citron, who continues serving on the company's board of directors.
Discord's valuation reached approximately ₹99,720 crores ($12.00 billion) when Microsoft Corp. made a takeover proposal earlier in 2021, which the company ultimately rejected. The subsequent funding round later that year elevated the valuation to ₹1,24,650 crores ($15.00 billion).
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