Seemingly, everyone are missing that Discord are very likely to go public soon https://www.bloomberg.com/news/articles/2026-01-06/chat-platform-discord-is-said-to-file-confidentially-for-ipo.
My guess is they will announce going public themselves as soon as they have normalized their ID collection and age verification AI programme. Big papa Microsoft or the like will buy Discord and make it an evergreen AI data set training ground.