Going Public Report: Discord partners with JP Morgan Chase, Goldman Sachs for a 2025 IPO IPO will mean more revenue pressure and possibly more ads. Samuel Axon Mar 27, 2025 2:22 pm | 5 Pictured: Quests, the first Discord ad format. Credit: Samuel Axon Pictured: Quests, the first Discord ad format. Credit: Samuel Axon Story textSizeSmallStandardLargeWidth *StandardWideLinksStandardOrange* Subscribers only Learn moreAs previously rumored, Discord, a popular communications platform, is working with Goldman Sachs and JP Morgan Chase to plan an IPO as soon as this year, according to a recent report by Bloomberg. The report cites people familiar with the matter and notes that more advisors may come on board as the talks progress.This isn't the first we've heard about plans for an IPO; an article in The New York Times claimed that Discord had begun exploratory meetings with bankers earlier this month. Even way back in 2022, Discord was exploring the option of a direct listing, but it now seems the company plans to go with a traditional IPO.Launched in 2015, Discord was initially conceived as an improved way to facilitate communication while playing video gamesand gaming-related uses still account for more than 90 percent of its activity. While some previous tools focused mainly on in-game voice chat, Discord supports text, voice, and video, as well as game streaming. It also has robust features for managing communities outside the game and has developer APIs for developing bots, tools, and games that can be used within its channels.The product has evolved into something akin to Slack, but for personal use. It's used by artist communities, game developers, open source projects, influencers, and more to manage communities and coordinate work. In some cases, people simply use it as an extremely robust group messaging tool for groups of friends without any games or projects involved.Limited ads to tackle limited revenueFor years, Discord proudly touted a "no ads" policy, but that dam has broken in some small ways in recent months. Discord began offering game publishers opportunities to create special "quests" that appear in the Discord interface, wherein players can earn in-game rewards for doing specific tasks, like streaming a game to friends. A new format, called video quests, is planned for this summer, too.The new ad products are meant to drum up Discord's revenue potential in the lead-up to an IPO; the platform already offered premium subscriptions for access to more advanced features and a marketplace for cosmetics to jazz up profiles.So far, the ad products are, by and large, much less intrusive than ads in many other social networks and seem to be oriented around providing some user value. However, an IPO could lead to shareholders demanding more from the company in pursuit of revenue.Samuel AxonSenior EditorSamuel AxonSenior Editor Samuel Axon is a senior editor at Ars Technica. He covers Apple, software development, gaming, AI, entertainment, and mixed reality. He has been writing about gaming and technology for nearly two decades at Engadget, PC World, Mashable, Vice, Polygon, Wired, and others. He previously ran a marketing and PR agency in the gaming industry, led editorial for the TV network CBS, and worked on social media marketing strategy for Samsung Mobile at the creative agency SPCSHP. He also is an independent software and game developer for iOS, Windows, and other platforms, and heis a graduate of DePaul University, where he studied interactive media and software development. 5 Comments