IPOs everyone’s waiting for: Kraken and Discord prepare to go public in 2025–2026

28 July 2025

2 min.

Kraken and Discord are preparing to go public in 2025–2026

We’ve compiled key facts on two standout tech companies from the Regolith portfolio — names we believe have strong long-term potential: 👇

• Targeting an IPO in Q1 2026, according to Bloomberg

• Generated $1.5 billion in revenue last year, bolstering its market position

• Reportedly explored raising over $100 million in mid-2024

• Benefiting from improved regulatory clarity in the U.S.

• On March 3, 2025, the SEC closed its investigation into the company

• Engaged Goldman Sachs and JPMorgan to advise on its IPO, per Bloomberg

• Valued at approximately $15 billion during its 2021 funding round

• Serves a global community of over 200 million monthly active users

• First considered going public in 2021, but delayed due to market and geopolitical uncertainties

Both companies appear to be approaching the final stages of their IPO journeys. We’re closely monitoring official developments.