Discord CEO Jason Citron Steps Down Amid Public Offering Plans
Jason Citron, co-founder of the widely-used social chat platform Discord, announced his resignation as CEO on Wednesday, marking a pivotal leadership shift as the company gears up for a potential public offering. Humam Sakhnini, a seasoned veteran with over 15 years in the gaming industry and former vice chairman at Activision, has been appointed as the new chief executive.
Under Citron’s leadership, Discord gained immense popularity, particularly among gamers, amassing over 200 million users. The platform was valued at approximately $15 billion in 2021 by private investors and became a staple during the pandemic when interest in gaming surged. In 2021, Discord even engaged in acquisition discussions with Microsoft, though the deal never materialized.
Citron expressed that while he has enjoyed building the company, he believes hiring Sakhnini is a strategic move towards navigating the complexities of a public offering. "I’m more of a builder, an early-stage kind of guy," he remarked in a recent interview, highlighting his focus on fostering early growth.
Despite his departure from the CEO role, Citron will remain involved as a board member and advisor to Sakhnini, who played a significant role at Activision, especially during its $69 billion acquisition by Microsoft in 2023.
Discord primarily generates revenue through its premium subscription service but has been diversifying its income through advertising and microtransactions. This leadership transition anticipates a critical phase for the company as it plans to solidify its position in the competitive landscape of social media and gaming platforms.
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