Discord Moves Toward Public Debut with Confidential IPO Filing

Discord, a chat platform used by more than 200 million people each month, has confidentially filed for an initial public offering (IPO) in the United States. This marks a major milestone for the Tencent-backed company (TCEHY), which has grown from a small gaming chat app into one of the most widely used communication platforms online.

The company can now work with regulators, refine its financial disclosures, and test investor interest without immediately revealing sensitive financial details to the public.

Discord is working with Goldman Sachs (GS) and JPMorgan Chase (JPM) on the potential listing, though there are chances that the company could still decide not to proceed.

Discord’s Growth Story

Founded in 2015, Discord started as a communication tool for gamers seeking reliable voice chat. Today, it hosts communities for everything from investing and music to education and local activism. Its mix of text, voice, and video chat, organized into customizable servers, has helped it grow a loyal global user base.

The company generates revenue primarily through Nitro, its subscription service that offers perks such as higher-quality streaming and custom emojis. Discord has also tested server subscriptions and partnerships while avoiding traditional ads to keep its community-focused feel.

It is worth noting that the confidential filing comes after a leadership shift. Humam Sakhnini, former vice chairman of Activision Blizzard, took over as CEO in April. Also, co-founder Jason Citron moved to the board.

The timing also aligns with a broader rebound in the U.S. IPO market. Tech IPOs raised $15.6 billion last year, more than double the previous year, as investor interest slowly returns. Discord now joins a growing list of venture-backed companies preparing to go public, including Google (GOOGL)-backed Motive Technologies and travel app Klook.

Importantly, TipRanks offers an IPO Calendar where investors can find a full list of upcoming offerings.