By Ryan Prete, Aug 25, 2023
In 2023, the global economy runs through the internet, a global interconnected network that boasts 5.3 billion users, or over 65% of the earth’s population. Chiefly through avenues of social media, the internet supplies endless opportunities for people to connect and share experiences. One of the most successful and well-known examples of this capability is Discord, a creation of online communities for users to build genuine relationships with their friends and circles close to home or around the world. Growing significantly since its founding only eight years ago, Discord currently serves over 150 million monthly active users and has cemented itself as an internet giant worth billions.
Founded in 2015 by Jason Citron–who had previously founded OpenFeint, a social gaming platform for mobile games–and Stan Vishnevskiy–who had previously founded Guildwork, another social gaming platform–Discord quickly grew to become a leader in online communication in terms of voice calls, messaging, and streaming. Discord currently offers an expansive rolodex of services, including: text chat, voice chat, video chat, server capabilities, screen sharing, mobile and desktop apps, and more.
Discord also offers a premium service called “Discord Nitro.” Currently priced at $9.99/month or $99/year, Discord Nitro subscribers can launch a plethora of activities including Poker Night, Sketch Heads, Chess, Land-io, Letter League and more. Once launched, they can invite their friends who don’t have Discord Nitro to join their expanded selection of Activities. With Discord Nitro, users can also experience enhanced video and audio quality, upload larger files, create custom Discord tags, and take advantage of other limited time benefits. In 2020, Forbes’ estimated that one million users had subscribed to Nitro. Discord also takes a 10% commission as the distribution fee from all games sold through game developers’ verified servers.
In addition, Discord has evolved the a handful of additional capabilities, essentially becoming the standard as competitors introduce similar services:
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Further, Discord has drastically progressed, and in turn benefitted from, the extremely popular gaming sector. The video game experience has evolved at a rapid pace; today, gamers can stream themselves playing a video game through Discord, allowing for the building of community, education, and profit sharing via donations, advertisements, and other income streams. Through the strengthened social bonds among gamers, Discord has improved the overall gaming experience by making player connection, interaction, and content creation seamless.
Discord’s influence alone has had a significant and largely positive impact on the gaming community, which can broken down in several ways:
Discord’s expansive leadership team include professionals with past experience at Samsung, Comcast, Discovery Communications, Nike, Visa, Oracle, Adobe, and more. Discord employs over 600 people globally. The company boasts over 100 corporate partnerships and has completed over a dozen funding rounds, raising over $1.1 billion since its inception.
Discord has also completed a handful of acquisitions as it continues to grow its company.
Discord has emerged as an influential platform in the realm of online communication and community building. Its impact extends far beyond its origins as a gaming-centric platform, transcending boundaries to become a vital part of various interest groups and communities. Having bridged the gap between developers and their audiences, Discord’s official developer servers have allowed for direct communication, feedback, and updates, enhancing transparency and engagement within the gaming industry.
As a cross-platform service, Discord has united gamers and communities, transcending the barriers of different gaming platforms and devices. Its accessibility and versatility have made it an essential tool for communication in the digital age. These advancements and achievements are just a few reasons why all of us at Linqto are excited to bring Discord to the Linqto platform. Visit Discord’s portfolio compage page on our website to learn more.
This material, provided by Linqto, is for informational purposes only and is not intended as investment advice or any form of professional guidance. Before making any investment decision, especially in the dynamic field of private markets, it is recommended that you seek advice from professional advisors. The information contained herein does not imply endorsement of any third parties or investment opportunities mentioned. Our market views and investment insights are subject to change and may not always reflect the most current developments. No assumption should be made regarding the profitability of any securities, sectors, or markets discussed. Past performance is not indicative of future results, and investing in private markets involves unique risks, including the potential for loss. Historical and hypothetical performance figures are provided to illustrate possible market behaviors and should not be relied upon as predictions of future performance.
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Ryan is a financial writer for Linqto, known for his original blog content, articles, and other works. He previously worked as a financial writer at PitchBook Data, where he covered private equity, and as a reporter for Bloomberg in Washington D.C.,where he reported on tax policy. Ryan has also reported on cybersecurity policy for Inside Washington Publishers. His work has been featured in The Wall Street Journal, Axios, Yahoo News, and Reuters. He is a graduate of the University of California, Santa Barbara.
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