Discord has confidentially filed for an initial public offering (IPO), according to people familiar with the matter, adding to the growing list of venture capital-backed technology companies preparing to go public.
The San Francisco-based chat company is working with Goldman Sachs and JPMorgan on the potential listing, sources said in March. Discord, whose platform is popular among gamers and programmers, has more than 200 million monthly users, according to a statement released in December.
Discussions are ongoing and the company may decide not to go ahead with the IPO, said the sources, who requested anonymity because the information is not public. Representatives for Goldman Sachs and JPMorgan declined to comment.
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A Discord spokesperson stated that the company’s focus remains on offering the best possible experience to users and building a strong and sustainable business, but did not comment beyond that.
The IPO would add to a string of potential IPOs in the technology sector as the U.S. IPO market gains steam. Debuts of technology companies on US stock exchanges raised US$15.6 billion last year, more than double the volume recorded in 2024, according to data compiled by Bloomberg. Among the companies with applications under analysis at the Securities and Exchange Commission (SEC), the US capital market regulator, are Motive Technologies Inc., which develops fleet management software using artificial intelligence, and Klook Technology Ltd., a travel app operating in Asia.
Founded in 2015, Discord offers voice, video, and text communication capabilities. The basic platform is free, while the paid Nitro subscription allows for enhanced streaming and greater customization. Although it was created with a focus on gamers, users have created servers dedicated to various topics, such as beatboxing, investments and community radio.
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Humam Sakhnini, former vice chairman of game developer Activision Blizzard, took over as CEO of Discord in April, replacing co-founder Jason Citron, who remains on the board of directors.
The company was valued at around $15 billion in a 2021 funding round led by Dragoneer Investment Group, according to a Discord spokesperson at the time. The same year, the platform rejected a $12 billion acquisition proposal made by Microsoft Corp., Bloomberg News reported.
Discord has faced pressure from state governments in the US regarding its measures to protect child safety. Security initiatives, which involve around 15% of employees, include the use of machine learning to identify and remove irregular content and support for community moderators to enforce the platform’s policies, according to information on its website.
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