https://archive.is/2025.03.06-011758/https://www.ft.com/content/4ab9efe7-36bc-44ff-b2cd-06eb2c38203a
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Gaming chat platform Discord in early talks with banks about public listing
US group has sought to broaden its appeal to a mass audience
Video game developer Jason Citron founded Discord in 2015 © Kimberly White/Getty Images/TechCrunch
Discord is in early talks with banks about a public listing, according to people familiar with the matter, in a sign of a possible revival in the sluggish US IPO market.
Founded in 2015 by video game developer Jason Citron, Discord offers multi-person voice, video and text-based spaces to its 200mn global monthly active users.
The San Francisco gaming chat platform was considering listing as early as 2021, according to people familiar with the matter. However, many technology companies and investors have put their IPO plans on hold due to political and market uncertainty.
That is expected to change this year as interest rates have fallen and US President Donald Trump has laid out a more tech-friendly regulatory agenda.
Discord was last valued at about $15bn in a 2021 fundraising, according to PitchBook. The company’s revived IPO plans remain subject to change, one of the people said.
“We understand there is a lot of interest around Discord’s future plans, but we do not comment on rumours or speculation,” the company said in a statement shared with the Financial Times. “Our focus remains on delivering the best possible experience for our users and building a strong, sustainable business.”
CoreWeave, an artificial intelligence cloud computing provider, filed for a New York IPO this month that would raise about $4bn and value the group at more than $35bn, which could make it the largest tech flotation of the year.
A series of valuable start-ups, including fintech groups Stripe and Chime and data platform Databricks that had been forced to stay private far longer than planned are expected to reignite plans to list their shares.
Discord initially found popularity among gamers, as well as retail trading and cryptocurrency communities, but has since sought to broaden its appeal to a mass audience.
The company has largely shunned advertising, in contrast to larger rivals such as Meta, X and Reddit, in favour of offering its users premium features for a fee.
In 2021, it attracted interest from multiple Big Tech groups, rebuffing a $12bn takeover bid from Microsoft. The recent IPO plans were first reported by The New York Times.
The enshittification of Discord will soon accelerate!
And at that moment, I cancel my subscription and instead give that money for some Matrix instance.
Bad idea. Matrix is incredibly costly to run by design. The eventual consistency model replicates everything to all servers which is wasteful, slow, & isn’t going to scale. Many medium-sized servers have shut down for storage & CPU+RAM costs—which causes refugees to seek more centralized nodes. Hell, we saw it a couple weeks ago Matrix begging for money since they can’t even afford to run their own servers anymore. You should put your money into a protocol that doesn’t treat chat like a blockchain & is efficient enough to reasonably self-host.
What kind of alternatives are there?
For the chat part: IRCv3, XMPP, Jami, maybe SimpleX.
As it stands for VoIP: Mumble, Jitsi (XMPP), Jami, maybe Movim (XMPP) in the near-ish future.
IRC & Mumble is centralized but super lightweight so you can spin up a server on any old hardware & can be fine for ‘clans’. Clients are efficient too. They aren’t encrypted other than TLS but are good enough for its largely-room-based goals.
XMPP is a generalized, decentralized protocol for presence & messaging. It has multiple FOSS servers that require a potato for hardware that you can spin up in a bedroom to join other bedroom servers where you can control your own data (same as Matrix, but a lot less resources & more mature). Chat can be encrypted (most clients support PGP & OMEMO). Some clients can do voice/video calls, many are working on multi-user call at present. It is the protocol behind WhatsApps, Zoom, Fortnite, League of Legends, & more.
Jami is P2P IIRC, but I haven’t used it—so I won’t comment.