Bloomberg , citing sources, reported that popular social media platform Discord has secretly filed for an IPO with the U.S. Securities and Exchange Commission (SEC) and is expected to list on the U.S. stock market this year. Sources told Bloomberg that Goldman Sachs and JPMorgan are leading the underwriting.
Backed by 200 million monthly active users, its $15 billion valuation is attracting renewed attention.
According to statistics, as of December 2025, Discord's monthly active users (MAU) had exceeded 200 million.
When the company was valued at approximately $15 billion in 2021 when it received funding led by Dragoneer Investment Group, its IPO has drawn attention to whether its revenue and profits can keep pace with its rapidly growing user base.
Founded in San Francisco in 2015, Discord has evolved from a gaming voice tool into a diversified platform encompassing AI development, cryptocurrency, and an educational community. However, reports indicate that this move involved the submission of confidential documents, and specific financial data has not yet been released. The company retains the flexibility to "determine based on market conditions" and may ultimately decide against going public.
Uncertainty tests valuation
The US IPO market has shown signs of recovery in 2025, but in 2026, tariff discussions brought about by the Trump administration, government budget tug-of-war, and profit-taking pressure on AI stocks could all impact tech stock valuations. If macroeconomic sentiment weakens, Discord may choose to postpone or withdraw its application.
A company spokesperson only reiterated the company's focus on user experience, offering no further comment on the timeline; the risks remain difficult to quantify until the official S-1 disclosure is complete. Regardless of whether it ultimately goes public, this behemoth with its massive community has entered the crucial second half of its capitalization process.
