It has been reported by Bloomberg (paywall) that Microsoft is in talks to buy Discord for over $10 billion. The report suggests that Microsoft is one of multiple companies interested in buying the social platform, and that any sale is looking to be valued at over $10 billion.
The report by Bloomberg has suggested that there are no deals set to take place imminently, however, Venturebeat has also reported on the matter and stated that Discord is in the "final negotiations about a sale," and that the company has already signed an "exclusive acquisition discussion with one party."
There are still options for Discord to go public, as Bloomberg's report suggested, but considering Discord has still yet to turn an annual profit, despite seeing growing numbers year-on-year, the chances of a sale do seem likely.
As Microsoft is known to be quite open to spending large sums of money to be able to enhance its services, the recent Bethesda acquisition for Xbox Game Studios that was valued at $7.5 billion and the former acquisition of Skype back in 2011 that was valued at $8.5 billion come to mind. The concept of acquiring Discord to better its chat room services and incorporation of the platform with Xbox devices does seem like a possibility.