One of the famous Messaging platforms Discord decided to end the sales talks with Microsoft. And the company decided to focus on expanding the business as an individual and standalone company, said Reuters on Tuesday.
The company will focus on building the platform and raising growth by making money from its user base that has grown quickly during the pandemic. Moreover, the company is thinking to pursue a public listing, not too distant future.
The update was first reported by The Wall Street Journal that the sales deal was off, and Discord moved further with its own functioning.
The platform saw excellent growth, in less than six months last year valuation doubled, and stocks got higher in 2021. Discord is currently a chat app, which was originally built for gamers. The giants’ Facebook to Twitter scrambles to construct voice-based community tools, whereas Discord rolled its own support for curated audio events in March.
Discord is a San-Francisco-based company, its revenue grew to $130 million in 2020 via its Nitro premium subscriptions, and monthly $9.99 or $99.99 annually, for features such as a bunch of emojis and video resolution.
In December 2020 the company raised $100 million in a funding round that made it valued at $7 billion, counting Greenoaks Capital and Index Ventures as investors.
The platform is currently having more than 140 million users, its business model stands out in the social network space. On the other hand, popular platforms such as Facebook and Twitter, rely on advertising for the bulk of the revenue and to grow in a highly competitive market.