> At a Glance
> – Discord has filed confidential IPO paperwork and targets a March debut
> – Goldman Sachs and JPMorgan Chase are leading the offering
> – Last valued at $14.7 billion in 2021
> – Why it matters: A successful listing could reopen the long-dormant tech-IPO window
Discord is quietly steering toward the public markets. The chat platform, best known for powering gamer communities, has already submitted its registration statement to the SEC under the confidential-review process, according to people familiar with the matter.
The March Target
Bankers at Goldman Sachs and JPMorgan Chase have penciled in a March roadshow, assuming markets stay cooperative. That timeline would let investors see Discord’s financials next month, when the confidentiality lifts.
Why Now?
Last year’s Washington drama-DOGE-driven budget cuts and a December federal shutdown-sent late-stage startups into hiding. A sustained 2026 equity rally is now tempting them out.
By the Numbers
- 200 million monthly active users
- $14.7 billion valuation from a 2021 funding round that raised $500 million
- Turned down a $10 billion Microsoft buyout offer in 2021
Key Takeaways
- Discord’s confidential filing keeps early data under wraps while gauging investor appetite
- A March listing would make it one of 2026’s biggest tech debuts
- Wall Street is watching to see if the IPO window is truly reopening
If the rally holds, Discord’s debut could set the tone for a new wave of tech offerings.
