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Discord, the communications service that’s become the 21st century’s answer to MUD rooms, is close to closing a new round of financing that would value the company at up to $ 7 billion, according to sources with knowledge of the round.
The new funding comes just months after a $ 100 million investment that gave the company a $ 3.5 billion valuation. Discord’s doubling in corporate value comes as the persistent, inept, American response to the COVID-19 pandemic continues to accelerate the adoption and growth of businesses creating virtual social networking opportunities.
Those opportunities are apparent in Discord’s explosive growth. Monthly active users have almost doubled to 120 million this year and the company has seen 800,000 downloads a day thanks, in part, to the wildly popular game Among Us (which received a ringing endorsement from the popular congressional representative Alexandria Ocasio-Cortez).
Discord built its initial growth on the back of the gaming industry and the rise of multiplayer, multiplatform games that supplanted earlier social networks as the online town square for a generation of young gamers (whose numbers globally now spiral north of several billion).
But, as the company’s founders noted when they announced their last round of financing, the Discord use case has extended far beyond the gaming community.
“It turns out that, for a lot of you, it wasn’t just about video games anymore,” wrote co-founders Jason Citron and Stanislav Vishnevskiy in a July blog post announcing the latest financing.
The two men frame their company as “a place designed to hang out and talk in the comfort of your own communities and friends.” Discord, they say, is “a place to have genuine conversations and spend quality time with people, whether catching up, learning something or sharing ideas.”
If that sounds familiar to some of the internet’s earliest users, that’s because it is. Back in the dawn of the world wide web, multiuser dungeons (MUDs) provided ways for practitioners of any number of subcultures to find each other online and chat about whatever tickled their collective fancy.
As the web evolved, so did the number of places and spaces for these conversations to happen. Now there are multivariate ways for users to find each other within the web, but Discord seems to have risen above most of the rest.
As analyst John Koetsier noted in Forbes back in 2019, there were already 250 million Discord users sending 315 million messages a day. Those are the company’s pre-pandemic numbers — and they’re impressive by any standards.
As with any platform that has become popular on the web, Discord isn’t without its underbelly. Three years ago, the company tried to boot a number of its most racist users, but their ability to use the platform to disseminate hate speech has stubbornly persisted.
Until mid-2019, white nationalists were comfortable enough using the service to warrant a shoutout from Daily Stormer founder, Andrew Anglin, who urged his fellow travelers to stop using the service.
“Discord is always on and always present among these groups on the far-right,” Joan Donovan, the lead researcher on media manipulation at the Data & Society Research Institute, told Slate in 2018. “It’s the place where they do most of the organizing of doxing and harassment campaigns.”
To date, Discord has raised $ 379.3 million, according to Crunchbase, from an investor group that includes Greylock, Index Ventures, Spark Capital, Tencent and Benchmark.
In addition to the cash it raised earlier this year, Discord emphasized a new user experience and added video functionality so that users could communicate more readily (and so the company could compete with Zoom). There are templates available to help users create servers, and the company has increased its voice and video capacity by 200%.
As part of this new focus on product, Discord has launched what it calls a “Safety Center” that clearly defines the company’s rules and regulations and what actions users can take to monitor and manage their use of service for hate speech and abuse.
“We will continue to take decisive action against white supremacists, racists and others who seek to use Discord for evil,” the founders wrote in June.
As we reported at the time, Index Ventures co-founder Danny Rimer, who led the investor group that backed Discord’s latest $ 100 million cash infusion, was an advocate for the company’s expanded vision for itself.
“I believe Discord is the future of platforms because it demonstrates how a responsibly curated site can provide a safe space for people with shared interests,” Rimer wrote in a statement. “Rather than throwing raw content at you, like Facebook, it provides a shared experience for you and your friends. We’ll come to appreciate that Discord does for social conversation what Slack has done for professional conversation.”
Apparently, investors are doubling down on that assessment.
So as our team is growing, slack is getting annoying as it’s lack of multi channel usage with a paywall makes it difficult to support as a bootstrapped startup with practically only our savings as funding.
Discord on the other hand provides all of these features for free in their servers, but I’m hesitant as discord is for gamers and what kind of message it could send to people joining in. Also it bothers me to pay slack for features that others are providing for free.
Any suggestions or advice would be greatly appreciated.
Discord is a platform of communication that offers users to generate private servers similar to the company Slack workplace.
Within these servers, users have the option to generate text-based and dedicated VoIP channels to communicate in, and with one account, a user joins multiple servers.
The main focus of the application is to provide a hassle-free communication platform for everyone.
This communication system is the right choice to increase the productivity of your business by offering dependable communication.
The market of the communication business is at the peak of professionalism and modern technology.
It is sure to deliver real delight and amusement of communication.
The users can make their experience memorable with them due to the high-technology and implementation of AI (Artificial Intelligence).
The system is dynamic for offering high-quality voice and communication between employers, employees, and customers.
This application is designed for all types of organizations, large, medium, or small.
Good for Business Communication
Isn’t it good to view, write, and send messages to your system?
This app offers you the same facility to enjoy chatting on your computer.
Yes, it is a computer-based extension of the account of the Discord on your system.
You can use the Discord platform to boost your presence, help with the support, improve sales, and create a better online community overall.
This platform leads to business productivity by keeping in touch with your clients.
The message you receive and send is completely available on your computer or phone.
Its benefit for the user is that it allows checking messages on both the gadgets.
This facility is available only for Windows Phone 8.1 and 8.0, iPhone 8 plus, Android, BlackBerry, Nokia S40 EVO, Nokia S60, and many more.
Chat with your employees, workers, and customers
You can access your business group on your phone and computer.
Discord is famous these days, and it is a leading messaging app around the globe.
On different platforms of mobile phones and devices, the majority of the users use this app.
It is supported by Nokia, Blackberry, iOS, and Java.
About 750 million people are using this app, and the number of users is increasing day by day.
The most vital advantage is that it is available on the computer or the system that the users are using.
All the users can continue their chats on their system or the personal computer.
It comes with the ability to run the Chrome browser.
On a big screen, it allows the ultimate experience to the users.
It allows you to get the facility of chat on the big monitor.
Supporting your business
It is one of the top leading communication solutions for customers offering great support to their small businesses.
The functionality facilities help the users to offer effective customer service to their clients that are very important for the growth of the business.
To Wrap Up…
Discord helps you to increase the productivity of your business.
It is a group chat application that connects users to share their ideas and content.
This is the best application that provides you complete privacy.
I hope this helps!