Discord also rejected Microsoft’s proposed high price, putting an end to rumors that it would be sold. Now, there’s a new step to be taken to find more resources…
Last month, discord was said to be in the final stages of a potential acquisition, and Microsoft was one of the firms looking to buy the service. According to reports, Microsoft was ready to make a bid of more than $10 billion to buy the firm. But Microsoft wasn’t the only company looking to buy the platform. Discord has also spoken to Epic Games and Amazon in the past, but those talks have yielded no results.
Now Discord has ended talks with Microsoft, according to a new report in The Wall Street Journal. The firm decided to reject Microsoft’s offer and go to the IPO to raise funds. Through the public offering, companies gain the opportunity to obtain cash by giving some of their shares to the public.
And this isn’t the only time Microsoft hasn’t managed to get a popular social platform lately. Under former US President Donald Trump, Microsoft was one of the firms trying to buy TikTok when ByteDance was almost forced to sell TikTok to an American firm.
Discord has seen tremendous growth recently, with its valuation exceeding $7 billion following the latest round of fund-raising in December. Also, the company generated more than $130 million in revenue in 2020, a massive increase from the $45 million it earned in 2019.