Chat Platforms Enter Public Markets

Major community chat platforms moving to public listings (Discord’s confidential S‑1 filing) mark a shift: companies that were once lightly monetized community hosts now face investor pressure to scale revenue, tighten data monetization, and formalize moderation policies. A stock market identity changes their default tradeoffs between growth, engagement, privacy and content governance. — Public listings of chat platforms will materially reshape moderation incentives, data‑monetization models, and the regulatory attention on conversational and community networks.