Discord is chatting about an IPO
Nice scoop from the Gray Lady, reporting that online chat group network Discord is in early, exploratory talks about going public.
An offering of shares would likely be of interest to some extremely online retail traders and gamers, many of whom are users. It would also be a welcome jolt for the IPO market, which has seen relatively few banner-name companies go public in the past few years.
In terms of potential comps for the company — which was last valued at $15 billion in 2021, per the Times — Reddit springs to mind, due to the close linkage of the two services. Many subreddits have associated Discord groups.
Reddit’s ride as a public company has been pretty strong, as the company has shown its ability to post profits.
Even more to the point in terms of potential IPOs, Reddit’s stock market performance since its IPO almost a year ago has been outstanding.
The company’s run-up over the past year has pretty much mirrored retail trading favorite Palantir, which was the best-performing stock in the S&P last year.
Both stocks have trounced the market since last November’s election, even after accounting for a brutal sell-off over the last couple weeks.
In terms of potential comps for the company — which was last valued at $15 billion in 2021, per the Times — Reddit springs to mind, due to the close linkage of the two services. Many subreddits have associated Discord groups.
Reddit’s ride as a public company has been pretty strong, as the company has shown its ability to post profits.
Even more to the point in terms of potential IPOs, Reddit’s stock market performance since its IPO almost a year ago has been outstanding.
The company’s run-up over the past year has pretty much mirrored retail trading favorite Palantir, which was the best-performing stock in the S&P last year.
Both stocks have trounced the market since last November’s election, even after accounting for a brutal sell-off over the last couple weeks.
