Discord Inc. is working with Goldman Sachs Group Inc GS and JPMorgan Chase & Co JPM on a potential initial public offering (IPO), which could take place as soon as this year.

What To Know: The timing of the potential IPO remains uncertain, and the company may adjust its plans or bring in additional advisers. Discord had previously considered a direct listing instead of a traditional IPO, Bloomberg reported.

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Founded in 2015, Discord started as a communication tool for gamers but has since expanded its reach. The platform has become a hub for various online communities, including programmers, educators and hobbyist groups, who use its servers for collaboration and social interaction.

The platform also offers voice, video and text communication, making it a popular choice for remote teams, study groups and live event hosting.

What Else: In 2021, Discord rejected a $12 billion takeover offer from Microsoft Corp MSFT, opting to remain independent. Bloomberg reports that Discord saw its revenue quadruple between 2020 and 2024 to over $600 million annually.

Discord has also raised $1.1 billion in funding and was last valued at $14.7 billion in 2021, according to PitchBook data.

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