Sources told Reuters on Tuesday that the messaging platform Discord has concluded its deal negotiations with Microsoft and plans to focus on expanding its business as an independent company.

The company will focus on building a chat platform and profiting from the rapidly growing user base during the pandemic. The source added that the public list is already on the table, but it has not yet arrived.

Microsoft and Discord did not immediately respond to requests for comment.

Reuters reported in March that Microsoft is negotiating to acquire Discord for more than US$10 billion (approximately Rs 75,400 crore).

As people increasingly go online for activities ranging from gaming to investing, social networks have developed during the COVID-19 pandemic.

Discord allows public and private groups to meet and chat via text, audio and video, and has now expanded from gaming clubs to all types of communities, including sports fans, music groups and cryptocurrency investors.

Its business model has more than 140 million users and stands out in the field of social networking, where many technology companies (such as Facebook and Twitter) rely on advertising to generate most of their revenue.

The San Francisco-based company grew to 130 million U.S. dollars (about 9.8 billion rupees) last year through its Nitro premium membership subscription revenue, with a monthly fee of 9.99 U.S. dollars (about 750 rupees) and an annual fee of 99.99 U.S. dollars (about 7,500 rupees). , Which includes special features. Emoji and enhanced video resolution.

In December last year, Discord raised US$100 million (approximately Rs 7.5 crore) in a round of private financing, which valued it at US$7 billion (approximately Rs 52,780 crore), of which Greenoaks Capital and Index Ventures were investors .

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After the failed bid for TikTok last summer, Microsoft has been buying wildly. This year, it acquired gaming company Zenimax for approximately US$7.5 billion (approximately Rs 56,550 crore) and the voice technology company Nuance Communications for approximately US$16 billion (approximately Rs 1,20,640 crore).

Thomson Reuters 2021 ©

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