Discord Raises $500 Million in New Funding Round

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