Popular social chat app Discord is reportedly considering going public through an initial public offering (IPO) as early as this year. The company has been meeting with investment bankers to discuss preparations for the potential IPO, which could provide a boost to private companies considering public listings in a volatile market.
Founded by Jason Citron and Stanislav Vishnevskiy, Discord was last valued at $15 billion by private investors in 2021. The platform, originally created for communication within the video game community, has seen significant growth in users, with over 200 million monthly active users, 93% of whom use the app for gaming.
Discord’s revenue model relies on a freemium approach, where users can access basic features for free and pay for premium features. The company has also been expanding its offerings, launching an online shop in 2023 for users to enhance their profiles with custom graphics.
Despite market turbulence, other companies like CoreWeave, a cloud computing service provider for artificial intelligence, are also preparing for IPOs. Discord’s potential IPO plans are still in exploratory stages, and the company has not confirmed any details.
Discord’s focus remains on delivering the best user experience and building a sustainable business, according to a spokesperson. The platform has become a popular choice for communication among gamers and has expanded to attract influencers, musicians, and other figures to create online communities.
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