Discord raises $150 million to take on Steam

Discord pulls in big investments to build digital storefront.

@DeekeTweak
Published Tue, Dec 25 2018 4:13 PM CST   |   Updated Tue, Nov 3 2020 11:49 AM CST

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.

NEWS SOURCE:pocketgamer.biz

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles