How to Invest in Discord Stock in 2026

Discord (PC:DSCRD) IPO speculation is resurging in 2026. In late October it was reported that Discord, the popular communication platform with over 200 million monthly users, going public was the nature of preliminary discussions by the business. It is understood that these talks with investment bankers were still in the exploratory phase, and plans remained subject to change.

This isn’t Discord’s first consideration of going public. In 2021, the San Francisco-based company turned down a $10 billion acquisition offer from Microsoft (MSFT), opting instead to explore the possibility of maintaining its independence and pursuing an IPO. At that time, the Discord valuation was around $15 billion following a $500 million fundraising round.

Discord stock could be primed for a 2026 listing because it is growing its market share in a number of increasingly powerful sectors. It is known for having a strong presence in gaming and cryptocurrency communities, as well as being a significant platform for the AI sector, hosting companies like Midjourney. The potential IPO could significantly impact Discord’s strategic direction and financial trajectory, positioning it as a key player in the evolving digital communication landscape.

The U.S. IPO market has also seen a revival in the second half of 2025 as tariff fears eased, private equity looked to offload investments, and interest rates dropped. Listings in 2025 include payments group Klarna (KLAR) and cloud platform CoreWeave (CRWV).

What is Discord?

• Founded – 2015 by founder Jason Citron and Stanislav Vishnevskiy, CTO.
• Core Product – Voice, Video and Text Communication Platform where people hang out and play games with their friends.
• Users – Over 200 million monthly users worldwide. It has 560 million registered accounts.
• Revenues – Research platform Sacra estimates that Discord achieved $725 million in annual recurring revenue (ARR) at the end of 2024, up around 21% year-over-year from $600 million in 2023. It comes from Nitro, its premium subscription that offers enhanced features like higher-quality streaming and larger upload limits; server boosting, where users pay to unlock perks for their favorite communities; and advertising, including Sponsored Quests and Video Quests. Sacra states that although subscriptions drove the bulk of the early growth, ads are now emerging as a second key growth engine.
• Why Discord stock could matter to investors – it has a huge global user base, fully engaged in its services. However, to date that potential is still largely under-monetized.

Is Discord Going Public?

Yes or No?

• Discord remains a private company. As to date no S-1 filing has been submitted to the U.S. Securities and Exchange Commission to kick-off the process. There is no confirmed IPO date.
• What we do have though are newspaper reports of discussions with bankers – see above – and that Discord sees an IPO as a strategic option. Other alternatives, however, such as a sale to a bigger tech company, also exist.
• Leadership Changes – Discord recently appointed Humam Sakhnini, former Vice Chairman of Activision Blizzard, as its new CEO. Founder Jason Citron said he was stepping down after 13 years, although he will continue to serve as an advisor and board member. The decision to bring in a CEO with a strong gaming industry background suggests a strategic pivot back to its gaming origins, with a focus on monetization through advertising and micro-transactions. Sakhnini’s experience as CEO of King, known for games like Candy Crush that heavily rely on ads and micro-transactions, could indicate a similar direction for Discord. It could be the company getting ready for an IPO.
• Operational Changes – The company recently introduced significant updates to its Family Center, enhancing parental oversight of teen activity on the platform. These updates provide guardians with detailed insights into their teens’ interactions, including purchase history, time spent on the platform, and primary contacts over the past week. Again, this could be putting the company in a stronger regulatory position if heading for an IPO.
• Takeaway – An IPO is plausible, but it is not imminent.

Discord Valuation (Then and Now)

Year	Event	Implied Valuation
January 2017	Series D Funding	$775 million
April 2018	Series E Funding	$1.65 billion
December 2018	Series F Funding	$2 billion
June 2020	Series G Funding	$3.5 billion
December 2020	Series H Funding	$7 billion
September 2021	Series I Funding	$15.2 billion
Overall Money Raised		$1 billion.

Its key investors include Tencent Holdings (TCEHY) and Sony (SONY). According to Sacra, Discord’s current revenue multiple is 25.3x, based on 2023 revenue of $600 million against its $15.2 billion valuation.

There is caution around these figures. Private valuations don’t always mirror public IPO pricing. Tech multiple compression, giving investors views on a stock’s earnings potential or risk, can also impact valuations.

Can You Buy Discord Stock Today?

Pre-IPO (Accredited Investors Only)

• The stock is not publicly tradeable
• Possible access via Secondary Marketplaces: Forge Global, Hiive, and EquityZen.
• These marketplaces connect accredited investors with existing Discord shareholders, such as staff, employees looking to sell their shares.
• Before you do so consider these issues – Illiquidity – Unlike publicly traded stock where you can sell your shares quickly, it may take you longer to do so when the company is still private. There are no guarantees that you can cash-out easily. Pricing Opacity – There is no easily observable market price created by a number of buyers or sellers so valuation can be trickier. Lock-up Periods- Often when a company lists there is a lock-up period post-IPO when shares can’t be sold. Transparency – how a company is performing can be less clear than a public peer given they are not subject to strict reporting rules.

Retail Investors

• Must wait for IPO allocation via broker or
• Post-IPO Public Trading on the New York Stock Exchange or Nasdaq.

Key Risks for Investors

• Weak Tech IPO Market – Some of the recently listed tech IPOs such as CoreWeave have struggled.
• Monetization v User Trust – Could the rush to monetize users through advertising upset the gaming community?
• Competition from gaming, social and AI-driven communities
• Pre-IPO liquidity risk
• Regulatory risks particularly around age verification, privacy and teen safety.

Alternatives to Buying Discord Stock

• Venture Funds with Discord Exposure
• ARK Venture-Style funds
• Public companies benefiting indirectly from: gaming, the creator economy and online communities.

Conclusion

• Discord IPO remains unconfirmed but plausible
• Discord stock is not yet accessible to retail investors
• Valuation will depend heavily on – Market Conditions and Monetization Strategy