Get ready to join the hype train because one of the most electrifying IPOs of 2023 is coming in hot! Discord, the social messaging platform that’s taken the world by storm, is expected to go public with a staggering valuation of $15 billion. And if that’s not enough to get your heart racing, then get ready for this: in late 2021, Discord raised a whopping $500 million from Dragoneer Investment Group, a top-tier U.S. investment fund with a keen eye for game-changing technology investments.
Why did Dragoneer invest such a hefty sum in Discord, you ask? Well, it’s because the platform has transcended its roots in the gaming world and has become a cultural phenomenon, appealing to people of all walks of life. With its intuitive design, powerful functionality, and vibrant community, Discord has become the go-to place for people to connect, collaborate, and have fun in the digital age. So, buckle up and get ready to join the Discord IPO hype because it’s going to be one heck of a ride!
From Gaming Niche to Mainstream
Once upon a time, in a gaming world far, far away, two visionary founders noticed a “discord” among players. They knew they had to create something that would bring gamers together like never before. Thus, the birth of Discord, a chat platform that has taken the gaming community by storm.
Jason Citron and Stanislav Vishnevskiy, the masterminds behind Discord, set out to create a user-friendly chat service that would enhance the gaming experience by allowing players to strategize and chat while playing games like League of Legends and Final Fantasy XIV. Citron had already made waves in the gaming world by launching and selling OpenFeint, a social-based mobile gaming platform.
But Discord wasn’t just for gamers anymore. When the world was hit with COVID-19 lockdowns, Discord’s popularity skyrocketed as people searched for ways to stay connected with friends and family. With a sleek and simple user interface, Discord became the go-to platform for anyone looking to talk and hang out with their loved ones.
And while Discord’s roots may be in gaming, the company has broadened its focus to include anyone looking for a streamlined communication platform. With a new tagline, “Your Place to Talk and Hang Out,” Discord has become the go-to destination for anyone looking to connect with others in a fun and engaging way.
Discord’s COVID-era growth caught the attention of tech giants like Microsoft, who reportedly offered $10 billion to acquire the platform. But Discord’s management had other plans and turned down the offer, leading other big tech companies to make their own bids for this beloved chat platform. So what’s next for Discord? Only time will tell, but one thing is for sure: the sky’s the limit for this innovative and game-changing platform.
Navigating Discord IPO’s Uncertainty
First and foremost, investors want to see that the company can make money. Discord’s revenue streams currently include a paid subscription service that offers an upgrade over the free product, as well as commissions earned for games sold through the platform. However, the big question is how the company can add more revenue streams without disrupting the user experience that has made it so popular.
On top of that, the stock market has been volatile, creating uncertainty for many technology firms. But fear not, as Discord is not alone in this game. Other potential big-name offerings for 2023 include Chime Financial Inc., Stripe, Instacart, and Reddit, among others.
Discord’s management team will need to weigh multiple factors, including its growth rate and current market sentiment, before deciding whether to proceed with a 2023 IPO. So, keep your eyes peeled, because the next big thing in tech is right around the corner, and Discord might just be leading the charge!
