Chat startup Discord Inc. has stopped talks to sell itself to potential suitors including Microsoft Corp, as it remains interested in a potential initial public offering down the line.
Microsoft had been in advanced talks to obtain Discord for at least $10 billion, The Wall Street Journal reported last month. Those talks resulted in no deal, though it is possible they could be renewed in the future.
Microsoft, whose market value on Tuesday stood at almost $2 trillion, has been on the hunt for acquisitions that would help it reach more consumers. Last summer, it explored a bid to acquire parts of the video-sharing app TikTok amid a high-profile geopolitical standoff prompted by the Trump administration.
Discord fielded interest from at least three companies regarding the deal. They stated that Discord is performing well and would rather stay independent at this time.