The gamers often find it difficult to communicate and coordinate between their matches. But, ever since the foundation of the gamers' exclusive communication platform in order to facilitate them in so-called servers. And that communication platform is Discord. The company is widely famous among gamers for its incredible and smooth features. Discord was founded in 2015 and its headquarter is established in San Francisco. Discord has grown very promptly and today, the company is counted among the most distinguished chat applications, at the global level.
With the rising gaming technology, gamers are looking forward to various applications to make their gaming convenient and joyful. As Discord fulfills the requirements of gamers, they prefer it over any other application. With such fan loyalty, Discord has more than 100 million active users widened across 6.7 million servers. In this article, we will be discussing the success and business strategies followed by this very prominent chatting app, Discord. Let's begin!
The gamers face great difficulties in communicating and coordinating with their teammates during any match. There are few companies such as TeamSpeak and Skype that offer worthwhile chatting features but they don't provide substandard call quality, many security issues, poor group chatting, and resource-heavy operations. This causes some major functionality issues for the gamers. And on that note, Discord is the company that facilitates all the requirements of the gamers.
With Jason Citron as the CEO and Stanislav Vishnevskiy as the CTO of discords, works brilliantly towards the customers serving features and developing Discord which respects the passion of gamers. Discord is an absolutely free, secured, and high-quality texting gaming application. Moreover, Discord offers tons of free services for their customers without exhibiting any advertisements.
Top features of Discord
Discord offers tons of customer-based services, especially for gamers. It runs with different segments including Nitro, server boosting, and others. These segments carry various verified features to boost its all-in-one video, voice, and texting. Some of the top features of Discord included Personal profile, Bigger uploads, Better Emoji collection, Support Server, and many others.
Target Audience of Discord
Discord majorly focuses on targeting the audience based on their building. Discord searches for groups and communities for gaming that are young, tech-savvy, and creative. The company acknowledges its customers and provides great customer service.
Business Model of Discord
Discord follows a subtle business model with a customer base of 87 million. Discord mobile application is completely free and secure. The company does not charge any extra money for future perspectives or its substantial features.
Discord entirely focuses on providing hassle-free communication applications for gamers. Discord puts great efforts into the voice chat integration service in the gaming sector. The company offers a free tool, named Gamebridge for the purpose of helping developers in the integration of the application for various games.
Moreover, the company offers tons of other features also including Streamkit and Rich Presence. These facilitate the free cost service where the gamers can list their matches and games in the Discord mobile application.
Discord is widely famous among gamers, this provides great benefit for the company, in capitalizing on the networking effects which enhances the value by increasing the user's counts. The current valuation of Discord is around $7 billion along with the recent investment worth $20 million.
What is Unique about Discord Business Model?
In the initial days of Discord establishment in the market, the company entirely focused on improving its products in order to attract the audience as well as the entire gaming community, rather than optimizing its efforts towards the upliftment.
Discord did tremendous efforts into putting a distinguished position in the market, especially to the gaming community. As the audience got attracted towards its features, it brought continuous money to the company.
Today, the company has optimized its products and features and gained over 200 million users. Discord's revenue sources are pretty strong and bring great deals for the company.
How does Discord make money?
Discord's revenue sources are very uplifting. The company uses several monetization strategies to bring out profit. These are:
This is basically a paid game subscription package at the price of $9.99 per month or $99.99 per year. This subscription package is a spontaneous agenda for interested users in order to support the Discord application.
This package includes animated avatars on your profile, custom emojis, a personal Discord tag, a large upload limit of up to 50MB for an image, a specialized Nitro profile badge, and many more.
Discord has a specialized merchandise store where it sells branded hoodies, T-shirts, socks, etc. The company gets little revenue from each sale. Through this, the company promotes its application and lets the users contribute to the growth of the company.
Discord has its personalized game store at a global scale where the game developers sell their games. This allows numerous game developers to self-publish their game on its store and get a 90% share of total revenue. Discord charges a 10% share for distributing the games. This covers up all the operating costs of the company.
Funds and Investments
Many big companies invest in Discord. Through this, Discord optimizes its features from the prospect of International market growth. The company has raised around $280 million in its latest funding round and this has resulted in extending the company's valuation worth $2.05 billion.
Discord has brought great convenience and contribution to the gaming community. It provides the gamers with the facility of communicating and coordinating smoothly. Besides this, the company offers tons of other features and specialized programs. The gamers connect with the Discord application vibrantly and this brings great outcomes.
Who is the CEO of Discord?
Jason Citron is the CEO of Discord.
What is the valuation of Discord?
The valuation of Discord is $7 billion as of 2020.
Did Microsoft buy Discord?
Microsoft has been intalks with Discord to acquire it for $10 billion.