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Chat app Discord raises US$500 million in new funding

Chat app Discord raises US$500 million in new funding

FILE PHOTO: Discord app logo is seen displayed in this illustration taken March 29, 2021. REUTERS/Dado Ruvic/Illustration

Chat platform Discord has raised US$500 million in a new funding round led by investment firm Dragoneer Investment Group, a company spokesperson said on Wednesday (Sep 15).

The deal values the company at about US$15 billion, Bloomberg News 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 US$10 billion, with the talks ending in April.

Source: Reuters/aj

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