Discord has reportedly made a confidential filing for an IPO, signaling its intent to go public.
The company has been working with Goldman Sachs and JPMorgan Chase on the listing since at least March 2025.
Discord boasts over 200 million monthly active users as of the end of 2025, with users spending a combined 1.9 billion hours playing games each month.
In 2021, Discord was valued at $15 billion during a funding round led by Dragoneer Investment Group. However, analysts believe it is unlikely to reach that valuation after an IPO.
In 2025, Jason Citron stepped down as Discord CEO and was replaced by Humam Sakhnini.
Discord, founded in 2015, has grown from a platform born out of the failure of the MOBA title Fates Forever to a communication giant with over 350 million users as of 2021. The company's potential IPO marks a significant step in its evolution.
While a confidential filing is a normal step for companies considering going public in the United States, it does not guarantee that Discord will ultimately proceed with the IPO. The company could still opt to remain private.
The platform has successfully attracted considerable investment, including a $100 million funding round in 2020 that valued the company at $7 billion. In 2021, Microsoft reportedly offered as much as $12 billion to acquire Discord, but the offer was rejected.
Eric Bellomo, an analyst at PitchBook, suggests that Discord's last disclosed valuation of $15 billion may be too high and that the company may not achieve that valuation in the public markets.
The invitation of Discord's CEO to testify in US Congress regarding "radicalisation of online forum users" and the disclosure of a data breach affecting 70,000 users in October 2025 highlight the challenges the company faces as it considers going public.
Q: What does a confidential filing for an IPO mean?
It's a normal step in the process of potentially going public in the US, allowing the company to prepare for an IPO without immediate public scrutiny.
Q: How many users does Discord have?
As of the end of 2025, Discord has over 200 million monthly active users.
Discord's potential IPO could significantly impact the gaming and communication industries.
The company's valuation remains a key point of discussion, with analysts questioning whether it can reach its previous highs in the public market.
Discord faces ongoing challenges related to content moderation and data security.
Do you think Discord will successfully go public? Let us know in the comments!
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