Discord Confidentially Files for IPO

Discord, the popular chat platform favored by gamers and online communities, has confidentially filed paperwork with the U.S. Securities and Exchange Commission for an initial public offering, sources familiar with the matter said. The company aims for a debut as early as March, pending favorable market conditions.

The filing marks a significant step for the San Francisco-based company, founded in 2015 by Jason Citron and Stanislav Vishnevskiy. Discord provides free voice, video and text communication tools that have grown beyond gaming to attract a broad user base. It reported more than 200 million monthly active users as of December 2025, according to a statement on its website. To lead the offering, Discord enlisted Goldman Sachs and JPMorgan Chase, two prominent banks experienced in technology IPOs, as underwriters.

Discussions about going public began in early 2025 but stalled amid turbulence in the U.S. federal government. Budget cuts influenced by the Department of Government Efficiency initiative, combined with an end-of-year shutdown, created uncertainty that deterred several late-stage startups from pursuing listings. Those disruptions followed a period of sluggish IPO...