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We reported a few weeks ago that Microsoft was trying to acquire Discord, and was offering $10 billion ($3 billion more than the company’s $7 billion valuation).
It seems this was not enough of a premium in today’s hot IPO market, and according to the Wall Street Journal, Discord has rejected Microsoft’s offer, and will be choosing to float the company instead.
Microsoft, a $2 trillion company, has been on a tear with acquiring companies in recent years, including recently purchasing Bethesda Zenimax acquisition for $7.5 billion, but has not been having good luck with social networks, with their plans to purchase TikTok falling through.