Discord’s new game store is currently live in beta.
Messaging platform Discord has ended deal talks with Microsoft and plans to focus on growing the business as a standalone company, sources familiar with the matter told Reuters on Tuesday.
The company will focus on building the chat platform and making money from the user base that has grown rapidly during the pandemic. A public mention is on the table, but is not forthcoming, the sources added.
Microsoft and Discord did not immediately respond to requests for comment.
Reuters had reported in March that Microsoft was in talks to buy Discord for more than $ 10 billion.
Social networks have grown during the Covid-19 pandemic as people increasingly go online for activities from gaming to investment.
Discord, which allows public and private groups to gather and chat via text, audio and video, has grown from a gamers club to all types of communities, including sports fans, music groups and cryptocurrency investors.
With more than 140 million users, the business model stands out in the social networking space where so many tech companies, such as Facebook and Twitter, rely on ads for most of their revenue.
The San Francisco-based company’s revenue grew to $ 130 million last year through its Nitro premium plans, at $ 9.99 per month or $ 99.99 per year, for features such as special emojis and enhanced video resolution.
In December, Discord raised $ 100 million in a private round of funding that valued it at $ 7 billion, counting Greenoaks Capital and Index Ventures as investors.
Microsoft is in the process of acquisitions after the botched bid for TikTok last summer. This year, the game company acquired Zenimax in a $ 7.5 billion acquisition and speech technology company Nuance Communications for approximately $ 16 billion.