Discord Acquisition With Microsoft Breaks Down as Discord Decides to Remain Independent.
A month ago Microsoft showed interest in the acquisition of hot chat app Discord and started talks. However, according to the latest updates the talks are off. The group-chatting platform-company has decided to stay independent and pursue going public via IPO in near future. The news was first reported by Wall Street Journal that the deal got called off.
Microsoft and Discord were in deep and serious talks about the acquisition and takeover. Microsoft valued the group-chatting platform around $10 billion which the company ultimately rejected. It is also reported that there were at least three companies that were interested in acquiring the chat platform for gamers. The chat company took offers from these three companies and eventually decided to stay independent and go for IPO.
The group-chatting platform has had massive growth last year thanks to Among Us game. This growth is still enjoying a vertical trajectory and its stocks in 2021 are still even hotter. The platform is a voice-based community mainly focused on voice chat specifically built for gamers. The group-chatting platform is well ahead of the current voice chat trend and it has also rolled out its own support for curated audio events.
The decision to remain independent makes sense. It has its own unique way of working and, if you may, its own unique DNA. Moreover, the gaming community also took to Twitter and voiced their concerns to the company. The gaming community even pleaded with the gamers chat platform, not to sell itself to any big tech company and remain independent. The choice of not being part of Microsoft or other big tech’s could also keep the group-chatting platform away from a protracted antitrust headache. The lawmakers are eyeing to bring in legislation that would bar big tech from further consolidation in the industry.