Popular chat platform Discord is reportedly considering an initial public offering (IPO), according to sources cited by The New York Times.

The report indicates that Discord executives have recently held discussions with investment bankers to lay the groundwork for a potential IPO, which could take place as early as this year. The company was last valued at approximately $15 billion in 2021.

In a statement to The New York Times, a Discord spokesperson said: “While we recognize the interest in Discord’s future direction, we do not address rumors or speculation. We remain dedicated to improving our user experience and building a resilient, sustainable business.”

Discord has grown significantly in popularity, particularly among gamers, thanks to its gaming-oriented capabilities and comparatively strong moderation and community management features. The platform is integrated into both PlayStation 5 and Xbox Series consoles as a seamless voice chat solution, and has more recently introduced streaming functionality. Importantly, Discord remains free to use, though it offers premium tiers that unlock additional customization options.

However, some users have expressed concerns that an IPO could negatively impact Discord’s usability in the long run. The top comment in a related r/Discordapp thread states: “Well, it was fun while it lasted. Once companies go public, everything tends to go downhill. What’s the next platform that won’t sell out like the rest?”

Similarly, a highly upvoted post in r/technology reads: “RIP Discord—welcome to the endless pursuit of growth at all costs.”

News of a potential IPO may not come as a complete surprise, as Discord has explored this direction before. In 2021, the company was in acquisition talks with several firms, including Microsoft. Shortly afterward, reports emerged that Discord had chosen to remain independent and pursue a public listing instead.