Discord IPO: Everything there is to know
The process of initial public offerings or IPOs is well-known for its potential to yield significant profits for investors within a relatively short period. On average, investors can expect to gain a return of about 40% in the first three months. Once the initial funding stages are completed, IPOs offer a means for companies to sell shares on the open market and generate additional capital to fuel their growth. If you have an interest in new technology stocks, you might be curious if Discord is publicly traded. Keep reading to learn all about the forthcoming Discord stock IPO.
Discord IPO: Expected Launch Date, Nasdaq Filing, and Other Details
Discord is gearing up for its initial public offering (IPO) which is expected to take place in 2023. Although the exact date is yet to be confirmed, the company has been taking measures to prepare for it, including hiring former senior executives from top tech and digital firms.
Similar to other tech companies, it is anticipated that Discord's IPO will be filed on Nasdaq. However, the IPO price and stock symbol are still unknown and will only be revealed upon the company's filing of its IPO prospectus with the Securities and Exchange Commission (SEC).
Due to the current unfavorable global macroeconomic environment for tech companies, the confirmation of the Discord IPO may be delayed until the latter half of 2023 or 2024. Nonetheless, stay tuned for further updates.
Discord Public Listing Key Data and IPO Date
Discord IPO Date: 2022
IPO stock price: N/A
Valuation at IPO: $15 billion
Market cap: N/A
CEO: Jason Citron
Category: Social Media
Listing method: traditional IPO
What is Discord?
Discord is a communication platform that offers voice, video, and text communication services for people to talk and hang out with their friends and communities. Discord is popular among gamers and individuals who seek high-quality, lag-free voice chats, and low-latency communication. Discord enables users to create communities around sub-niches like specific games or cryptocurrencies.
History of Discord
Discord was launched in 2015 by CEO and co-founder Jason Citron with the goal of solving communication problems in the gaming community. It initially didn't focus on the gaming community but gained popularity when gaming-related subreddits began to replace their IRC accounts with Discord accounts. Discord became widely popular among eSports, LAN tournament gamers, Twitch streamers, and Xbox Live users.
Discord Financials & Funding History
Discord has raised a total of $995.4 million in funding over 16 rounds. In 2020, the company reported $130 million in revenue from paid subscriptions, server boosting, and associated fees from game sales. In September 2021, Discord raised $500 million, lifting its valuation to $15 billion. The company turned down a $10 billion acquisition offer from Microsoft in 2021 and additional acquisition proposals from Twitter and Amazon.
Discord CEO & Leadership Team
Discord was founded by CEO and co-founder Jason Citron. The company has over 2500current employee profiles on LinkedIn. Discord has made several high-profile hires that indicate an IPO is around the corner, including Tomas Marcinkowski as CFO, Leslie Kilgore, and Amrita Ahuja to its board of directors.
Discord has 31 investors, including Arcane Group and Flat Capital, among others. Fidelity, an investor in Discord through its mutual fund arm Contrafund, lowered the value of its Discord shares by 32% in June 2022.
Discord's IPO prospects look promising, given its strong financials and growing popularity among gamers and other communities. The company has already raised a total of $995.4 million in funding over 16 rounds, with its latest funding in March 2022. Discord's decision to turn down a $10 billion acquisition offer from Microsoft in 2021 and prepare for an IPO instead further underscores its potential for growth and profitability as a standalone company. The company also made key hires in 2021, including a former Pinterest executive as its first-ever CFO and two new members to its board of directors. Investors should closely monitor Discord's progress towards its IPO and weigh the potential risks and rewards before making any investment decisions.