At the beginning of August Discord, a social platform known as the “Slack of gamers”, announced that it would start selling videogames through an online store.
In this way, the service joined the race in which there are well-known platforms such as Steam, GOG or (recently) Twitch. Now, when there are only a few days until the end of 2018, they have received 150 million dollars of financing, and the company is already valued at more than 2,000 million dollars.
The company has grown tremendously in just over a year. In June of last year they managed to raise a round of financing of 50 million dollars, and at that time the company was valued at 725 million dollars.
The investment group Greenoaks Capital led the financing round, in which Firstmark, Tencent, IVP, Index Ventures and Technology Opportunity Partners contributed. Discord says he plans to use this injection of money to help his video game store take off.
This funding comes at a key moment, since Discord has made some important moves to compete against Steam’s hegemony. A few days ago they announced that they would “only” keep 10% of the price for each game sold.
They seek to attract developers, who would get more benefits than with Valve (Steam takes 30%) or the recent Epic Games Store (which currently earn 12% of revenues).
Discord is knowing how to play its cards well to attract developers to its platform, although it will be difficult to compete with the number of users and the offer Steam currently has. Anyway, we must not forget that Discord is one of the communication services preferred by gamers (200 million registered users), so it has enough elements to be able to compete with existing stores.