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Discord shoots for $15bn value as social media exodus continues

Discord logo on top of $100 notes
(Image credit: Discord & QuinceCreative - Pixabay)
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Discord is so hot right now. With a growing list of interest from potential business partners—Twitter, Amazon and Epic Games included—its CEO and founder Jason Citron even had the balls to reject a $12 billion Microsoft takeover (opens in new tab). Now, in wake of an apparent exodus from social media to private chat services, Citron is vying to capture the hearts of non-gamers and big investors alike, with plans to up the company's worth to around $15 billion taking shape.

We’ve been talking to all the console manufacturers.

Jason Citron, Discord CEO & founder

In an interview with the Financial Times (opens in new tab), Citron says "there’s this big trend [of people shifting away from] broadcast wide-open social media communication services to more small, intimate places." That's great news for private chat services like Discord. "We’re a meaningful part of how that’s evolving on the internet," adds Citron.

Since the pandemic hit, more and more gamers had begun luring their friends onto the platform in lieu of meeting face-to-face. And the company's new 'Imagine a place' campaign movie (opens in new tab), starring Danny DeVito, is helping to fuel the dream of harvesting non-gaming users.

Currently the company has a worth of around $7 billion but, as the apparent social media exodus continues, Discord is looking to branch out in an effort to more than double that figure. The article reveals, according to a Newcomers newsletter (opens in new tab), Discord is looking to roughly double the company's value to around $15 billion in an upcoming 'funding round,' and is aiming for a public listing. That means more potential for shareholders to jump in.

Cut the cord...

(Image credit: Steelseries)

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Earlier this year, Sony struck a minority share deal with Discord (opens in new tab). So by this time next year, we can expect to see the chat service prevalent across PlayStation platforms, and as Citron admits, "We’ve been talking to all the console manufacturers.” Meaning that stance could grow to encompass other big names like Xbox and Nintendo, too.

We're seeing some immense momentum from Discord, then, and that's not expected to slow down anytime soon. With 150 million active monthly users, and growing, there's little doubt that Discord is taking over the private chat landscape. First on PC, and soon enough on console.

Katie Wickens
Hardware Writer

Screw sports, Katie would rather watch Intel, AMD and Nvidia go at it. Having been obsessed with computers and graphics for three long decades, she took Game Art and Design up to Masters level at uni, and has been demystifying tech and science—rather sarcastically—for two years since. She can be found admiring AI advancements, scrambling for scintillating Raspberry Pi projects, preaching cybersecurity awareness, sighing over semiconductors, and gawping at the latest GPU upgrades. She's been heading the PCG Steam Deck content hike, while waiting patiently for her chance to upload her consciousness into the cloud.