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In a nutshell: Discord has announced new tools that it says will improve its monetization and make it easier for developers to build a gaming business. The company also shared some metrics confirming that Discord is the most popular communication app for gamers worldwide. In addition, CEO Jason Citron revealed that the company is planning to launch an IPO in the near future.

First up is an update to Discord Quests, which enables users to earn in-game items like skins and other cosmetics by streaming their game footage during calls. The company has been experimenting with Quests over the past year, and one of the more popular events during the period was the “May the 4th” Fortnite Quest that was held in collaboration with Epic Games and Lucasfilm Games in 2023.

Going forward, Discord says it will open up Quests to more games and announce sponsored Quests with more developers. The feature will offer users the option to stream their gameplay to friends and win rewards for playing. As part of the plan, the company will work with devs and publishers to build an experience that showcases various titles and offer customized rewards.

Discord claims over 200 million monthly active users, planning an IPO

Discord is also introducing themed items in its Shop in partnership with game developers. Launched last year, the Discord Shop lets users buy frames for their avatar or fancy effects for their profile. Now that many users have already used the feature and bought various effects, the company says it is incorporating user feedback and working with developers to bring game-themed profile effects and avatar decorations to the in-game store.

Finally, Discord says that it hosts 1.5 billion hours of gameplay across more than 60,000 titles every month. In an interview with Bloomberg, Discord CEO Jason Citron also claimed that the platform has over 200 million monthly active users globally. He confirmed that the company is planning to launch an IPO at some point in the future.

Citron did not reveal anything about the firm’s financials, but sources quoted by the publication claim that Discord earned more than $600 million in revenue last year, more than four times its earnings in 2020. Despite its skyrocketing fortunes, Discord is still not in the black yet. Citron, however, wants to change that by generating a profit by the end of this year.

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