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Discord raises $150 million to take on Steam

Discord pulls in big investments to build digital storefront

By Derek Strickland on Dec 25, 2018 at 04:13 pm CST - 0 mins, 54 secs reading time

Discord secures a big $150 million investment to help bolster its storefront plans.

Discord raises $150 million to take on Steam | TweakTown.com

The PC game storefront wars have begun. Industry titans like Epic Games (Fortnite) and Discord (the massively popular social app) are now opening up their own digital game stores to compete with Steam. While it doesn't have Fortnite's billions, Discord is a strong force and just raised a substantial $150 million in capital, bringing the company's valuation to over $2 billion. Discord has managed to raise $200 million for its various business ventures in 2018.

Multiple companies contributed to the funding round including Chinese juggernaut Tencent, and other equity firms like IVP, Index Ventures, Greenoaks Capital, Firstmark, and Technology Opportunity Partners. Discord aims to use this revenue to bolster its digital store plans, which aims to attract developers with a substantial 90-10 earnings split in devs' favor.

The store is currently live across the service's strong 200 million userbase and mostly includes indie titles.

Derek Strickland

ABOUT THE AUTHOR - Derek Strickland

Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements, whether it's VR with the Oculus Rift or Augmented Reality. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the technology that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

NEWS SOURCE:pocketgamer.biz

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