Chat startup Discord Inc. has halted talks to sell itself to potential suitors including Microsoft Corp., according to people familiar with the matter, as it resumes interest in a potential initial public offering down the line.
Microsoft had been in advanced talks to acquire Discord for at least $10 billion, The Wall Street Journal reported last month. Those talks ended without a deal, though it is possible they could be rekindled in the future, some of the people said.
Microsoft, whose market value Tuesday stood at nearly $2 trillion, has been on the hunt for acquisitions that would help it reach more consumers.
Discord fielded interest from at least three companies about a deal, some of the people said. They said Discord is performing well and prefers to stay independent at this time.