Late last month, it appeared that the popular chat app Discord was all set to be bought by Microsoft for over $10 billion. However, it seems that the company is no longer interested in selling itself, according to the Wall Street Journal.
The chat service was reportedly in discussions with other companies, but it appears to have ended all acquisition talks, at least for now. WSJ reports that Discord will remain independent for the time being as it’s seemingly doing well. Although the company might re-open talks with potential suitors, it’s rumored to once again be considering an initial public offering.
Like other services centered around communication, Discord’s popularity surged amid the COVID-19 pandemic. Many new users turned to the app to stay in touch with friends and family over text chats and voice and video calls.
Discord’s valuation doubled in less than six months last year and its stock is only expected to rise in 2021. A well-loved voice chat app originally built for gamers, Discord was in the right place well ahead of the current voice chat trend that Clubhouse ignited. As companies from Facebook to Twitter scramble to build voice-based community tools, Discord rolled out its own support for curated audio events last month.
Discord had around 140 million monthly users as of March, according to the WSJ. The company is said to have generated revenue of $130 million last year, a significant increase from the nearly $45 million it pulled in during 2019. However, Discord is not yet profitable.