Social

Discord Raises $500 Million in New Funding, Now Reportedly Valued at $15 Billion

Discord has raised $500 million (roughly Rs. 3,680 cores) in a new funding round led by investment firm Dragoneer Investment Group, a company spokesperson said.

The deal values the company at about $15 billion (roughly Rs. 1,10,160 crores), Bloomberg News had reported earlier. Discord declined to comment on the valuation.

Baillie Gifford & Co, Coatue Management, Fidelity Management & Research, and Franklin Templeton also participated in the financing, alongside existing investors, the Discord spokesperson said.

Discord grew at a lightning pace during the COVID-19 pandemic and was first used by videogamers, though the app has now expanded across communities and for events ranging from comedy clubs to karaoke parties.

Reuters reported earlier this year that Microsoft was in talks to buy Discord for more than $10 billion (roughly Rs. 73,440 crores), with the talks ending in April.

© Thomson Reuters 2021


Products You May Like

Articles You May Like

Elon Musk Could Struggle with Banks, His Twitter Deal Escape Hatch, Experts Say
LG Tone Free T90, T60 With 9 Hours of Battery Life, ANC Unveiled: All Details
Twilio Suffers Data Breach After Employees Fall Victim to SMS Phishing Attack
Instagram Will Soon Test Tall Photos for Compatibility With Fullscreen Reels
Oppo Watch 3 Series Pre-Booking Starts Ahead of August 10 Launch

Leave a Reply

Your email address will not be published.