Discord Raises $500 Million

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Chat platform Discord has raised $500 million in a new funding round led by investment firm Dragoneer Investment Group, a company spokesperson said on Wednesday. Discord grew at a lightning pace during the Covid-19 pandemic and was first used by video gamers, though the app has now expanded across communities and for events ranging from comedy clubs to karaoke parties. Reuters reported in April this year that Microsoft was looking to buy Discord for more than $10 billion. 

After this deal, the company will be valued at about $15 billion. Coatue Management, Baillie Gifford & Co.,  Fidelity Management & Research Co, and Franklin Templeton also participated in this round of financing, along with existing investors. As per Pitchbook, prior to this round of financing, the company had already raised almost $600 million to date. The San Francisco-based gaming platform is particularly popular with video gamers, with 150 million active users. It has expanded to everything from study groups to art communities.



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