Chat app Discord raises $500 million in new funding

(Reuters) - Chat platform Discord has raised $500 million in a new funding round led by investment firm Dragoneer Investment Group, a company spokesperson said on Wednesday.

The deal values the company at about $15 billion, Bloomberg News https://www.bloomberg.com/news/articles/2021-09-15/chat-app-discord-is-worth-15-billion-after-new-funding?sref=C6LRZopg had reported earlier. Discord declined to comment on the valuation.

Baillie Gifford & Co, Coatue Management, Fidelity Management & Research Co 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, with the talks ending in April.

(Reporting by Kanishka Singh in Bengaluru; Editing by Devika Syamnath)

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