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Discord Valued At $7B In Latest Funding Talks: Report

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Discord Valued At $7B In Latest Funding Talks: Report

Gaming and online communications software company Discord Inc is nearing a deal to secure an undisclosed amount in a fresh round of funding. According to Forbes, if successful it would increase the company’s enterprise valuation to $7 billion.

What Happened: The San Francisco-headquartered software company has raised around $379.3 million to date, according to Crunchbase. This doesn't include the undisclosed amounts from Cascade Ventures and an individual investor from the GCC region in September.

In June, Discord’s valuation was estimated at approximately $3.5 billion after a $100 million investment from venture capital firm Index Ventures.

The recently released game "Among Us" is also adding up to the company’s popularity, The Verge reported. The game, also endorsed by Representative Alexandria Ocasio-Cortez (D-N.Y.), was downloaded close to 800,000 times a day.

Why Does It Matter: With the forced lockdowns in place, Discord’s virtual communications app is attracting a higher number of people, in line with services of companies like Zoom Video Communications Inc. (NASDAQ: ZM). 

The 300 million registered users on the app are four times the number of registered users two years ago. Forbes also reported that monthly active users have jumped 50% this year to 100 million.

Founders Jason Citron and Stanislav Vishnevskiy's stakes in the company could exceed $700 million each based on the latest valuation.

Photo courtesy: Wikimedia

 

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