Discord Doubles its value up to $7 billion. Discord Inc., a communication platform extremely favored by gamers, has been consistently expanding beyond the gaming community.
The company was launched only half a decade ago by the founders Jason Citron and Stanislav Vishnevsky. In just 5 years, the platform rapidly became an absolute necessity for all online gamers. The company had entered series Grounds of funding in June, indicating a healthy growth, and reportedly gained $100 million in funds to close at $3.5Bn. The leading investors In the rounds had been big investment giants such as Index Ventures, Tencent Holdings, and Greylock.
Discord: Series H funding rounds
Discord Doubles its value up to $7 billion: With just 6 months passed, the company has opened a series H funding as of 17th Dec 2020. On Saturday, Techcrunch reported that the company would be valuing itself at a massive $7Bn by the time the rounds close. The latest rounds have been led by Index Venture, indicating a strong relationship and prospects. The company is aggressively expanding its business to keep up with a virtual community’s explosive growth due to COVID-19. Here is a list of some companies you may know that are at the stage of Series H funding to put this in perspective..
- Flipkart – $6.11Bn
- Ola – $3.14Bn
- Spotify – $2.06Bn
- Spacex – $2.17Bn
The sheer fact that Discord Inc. has received up to $3.5Bn in Series H funding indicates a speedy growth and possibly an indication for further funding rounds to happen.
— IGN (@IGN) December 21, 2020
The company has already surpassed well-known gaming studious such as Capcom and Bethesda. It wouldn’t come as a surprise if in the coming days it starts to rival gaming giants like Valve and EA themselves.
A new, easier and more friendly user interface.
Recently Citron wrote in his blog that Discord aims to make its services available for more than just playing games. The company has actively started working towards designing a user interface that is more generic and less oriented to video games. So that more and more people may come on board. Additionally, the company is changing its laissez faire standards of moderation. Among its millions of servers things like misogyny and homophobia were conveniently festering. However, to appeal to a wider virtual community, Discord is setting up a “Trust and Safety Team”. Which will be dedicated to ensuring a stricter moderation.
The company expects to attract a diverse group now such as students, teachers, virtual artists and software developers to share ideas and communicate. The company reportedly boasts a user base of 250 million individuals as of now.
Discord: A challenging road ahead.
With big investment come huge expectations as well. Discord has been met with unprecedented success due to its free for all access. So far, it offers a subscription system called Nitro. Charged at $100 a year Nitro allows you to customize your profile. Additionally, you can access high upload limits, some emojis and better support. Forbes magazine estimates that Nitro will help discord generate about $120mn a year. The company may need to come up with more attractive solutions to generate better revenue; if they want to keep the inflow of funding.
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