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Discord Files Confidentially for U.S. IPO, Bloomberg News Reports

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Online chat platform Discord has filed confidentially for an initial public offering in the United States, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The move comes as the U.S. IPO market showed signs of recovery in 2025 following nearly three years of subdued activity. However, expectations of a sustained rebound have been tempered by tariff-related market volatility, a prolonged government shutdown, and a late-year selloff in artificial intelligence stocks.

According to the report, discussions are still ongoing and Discord could ultimately decide not to proceed with a public listing. A Discord spokesperson told Bloomberg that the company remains focused on “delivering the best possible experience for users and building a strong, sustainable business.”

Discord did not immediately respond to a request for comment from Reuters.

Founded in 2015, Discord provides voice, video, and text communication services, initially targeting gamers and streamers but later expanding to broader online communities. The company said in a statement on its website in December that it had more than 200 million monthly active users.

X to Report First Annual Ad Revenue Growth Since Musk’s Takeover

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Elon Musk’s social media platform X is on track to achieve its first year of advertising revenue growth since Musk acquired the company in 2022. Data from research firm Emarketer, released on Wednesday, suggests that X’s U.S. ad revenue will increase by 17.5% in 2025, reaching $1.31 billion, while its global ad sales are expected to rise 16.5%, totaling $2.26 billion. This growth marks a significant turnaround for the platform, which had struggled to attract advertising revenue following Musk’s acquisition.

Factors Driving Growth

The growth in ad revenue is partly attributed to the return of brands to the platform, bolstered by Musk’s growing influence, particularly within the U.S. Department of Government Efficiency. Jasmine Enberg, principal analyst at Emarketer, noted that some of the growth is driven by a sense of caution, with many advertisers viewing spending on X as necessary to mitigate potential legal or financial risks.

X has also successfully attracted more small- and medium-sized businesses, which had historically been a challenge for the platform to engage. This shift in advertiser behavior is a positive sign for X as it seeks to rebuild its advertising revenue stream.

Industry Competition and Economic Uncertainty

Despite the growth, X’s advertising business remains smaller than it was when Musk took over, as Emarketer’s data points out. In 2021, prior to Musk’s acquisition, X reported ad revenue of $4.51 billion as a publicly traded company. Even with the projected growth in 2025, X’s ad business still lags behind its previous levels.

In the broader social media landscape, platforms like Meta-owned Instagram and TikTok are competing for a larger share of the ad market. However, the overall advertising market could be impacted by factors such as U.S. tariffs and ongoing economic uncertainty. Research firm MoffettNathanson recently revised its U.S. advertising growth forecast, lowering it from 6.9% to 5.8%, citing the disruptive changes brought on by the new administration.

Outlook for X

Despite these challenges, X’s hiring of NBCUniversal’s former advertising chief, Linda Yaccarino, as CEO in 2023 signals a strategic effort to revitalize its ad business. As X looks to grow its advertising revenue, the platform is focusing on broadening its advertiser base and navigating the complexities of an uncertain economic environment.

French Prosecutors Investigate Musk’s X Over Alleged Algorithmic Bias

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French prosecutors have opened an investigation into Elon Musk’s X (formerly Twitter) over allegations of algorithmic bias. The inquiry comes just days before the upcoming AI summit in Paris, which will be attended by prominent global leaders, including U.S. Vice President JD Vance and Indian Prime Minister Narendra Modi, as well as executives from Alphabet and Microsoft.

The investigation began after a lawmaker, Eric Bothorel, raised concerns that X’s algorithms were likely distorting automated data processing systems. Bothorel wrote to the Paris prosecutor’s office on January 12, prompting the J3 cybercrime unit to launch technical checks. Bothorel also posted about the matter on X, urging further scrutiny of the platform.

X has not responded to requests for comment on the matter. The investigation underscores mounting global scrutiny of Musk’s platform, which has been criticized for potential foreign interference, particularly due to Musk’s personal support for right-wing causes in countries like Germany and the UK. X has previously been involved in legal battles over misinformation, notably being blocked in Brazil last year for not adhering to Supreme Court orders regarding the spread of false information.