Pixel P&L: Discord Taps Blizzard Veteran as Wall Street Beckons

When Jason Citron founded Discord in 2015, he envisioned a chat app for gamers—not a resignation letter to Wall Street. But as the $15B company readies for its IPO, Citron is following a well-worn path of founder-CEOs who've discovered that public markets prefer seasoned executives over company creators. More details in our feature story.

Also in today's email: 

🎮 Krafton backs indie developers with innovative funding model 

💰 Roblox's regional pricing boosts global revenue in emerging markets 

🐉 Bethesda’s Classic Remastered RPG classic conquers Steam charts within hours 

🌍 Istanbul games studio secures investment at $5M valuation

Let's get into it.

📊 Gaming Stocks Today

Discord Names New CEO as Company Eyes Potential IPO

Discord has appointed former Activision Blizzard Vice Chairman Humam Sakhnini as its new chief executive officer, replacing co-founder Jason Citron effective April 28. The leadership change brings significant gaming industry expertise to Discord's helm, with Sakhnini having managed blockbuster franchises including Call of Duty, World of Warcraft and Candy Crush at Activision.

The executive transition comes as the chat platform, popular among gamers and programmers, reportedly works with banks on an initial public offering that could happen this year. Citron will remain on the company's board and serve as an adviser to Sakhnini. "I'm confident that passing the torch to Humam is the right evolution for Discord's future," Citron said in a statement.

Under Citron's leadership, Discord transformed from a niche gaming app to a communication platform with more than 200 million monthly active users worldwide. While Citron indicated there are "no specific plans" for an IPO, he acknowledged hiring Sakhnini represents "a step in that direction."

Krafton-Backed Fund Pledges $30 Million to Indie Game Developers

Blue Ocean Games, backed by Battlegrounds Mobile India developer Krafton, has launched a $30 million fund supporting early-stage indie game developers over the next three years. The initiative is spearheaded by Damian Lee, Krafton's former head of investments.

The fund introduces an innovative "Structured Agreement for Indie Launch" (SAIL) investment model, providing developers with $100,000 to $300,000 per team over two years while allowing them to maintain IP ownership. The hybrid equity and revenue-share agreement funds projects at concept stage, before playable builds exist.

Beyond capital, the program offers practical assistance, bookkeeping services, and mentorship from industry veterans. Blue Ocean is also launching "Rising Tide," a series of online competitions beginning May 1, 2025.

"There's a structural problem in the indie game industry where gaps exist between investor funding, developer dreams, and player desires," Lee said. "We want to provide accessible pathways for developers of all backgrounds."

⚡Quick Bytes

Roblox Rolls Out Regional Pricing to Boost Global Revenue

Roblox launched a regional pricing tool on April 21 that automatically adjusts in-experience item costs based on local economies. Early tests showed significant growth in paying users—17% in Mexico, 26% in Brazil, and 52% in the Philippines. The new feature aims to help creators better connect with global audiences by determining optimal local prices for in-game items. This tool complements the platform's existing Price Optimization system, which has increased median creator earnings by 4% since last year.

Oblivion Remaster Surges on Steam Charts Within Hours of Release

Bethesda's Elder Scrolls IV: Oblivion Remastered has rocketed to commercial success, surpassing 190,000 concurrent Steam players just hours after launch. The rebuilt 2006 classic has already outperformed established titles like Baldur's Gate 3 and Path of Exile 2, despite being released in the middle of the week and available for free to Game Pass subscribers.

Turkish Game Studio Hogo Games Secures $5M Valuation

Turkish developer Hogo Games has secured investment at a $5 million valuation in a round led by Red Axe Games with participation from angel investors. The Istanbul-based studio, founded in 2022 by Ahmet Çetinli, plans to expand its 11-person team while developing new PC games and hypercasual mobile titles.

⚔️Side Quest

📺 Watch: Deconstructor of Fun’s sobering analysis of how Supercell's well-intentioned investment arm might be more passion project than strategic powerhouse, missing major opportunities despite Tencent-level resources.

🎮 Play: Enshrouded weaves atmospheric survival mechanics with mythic RPG questing in a hauntingly beautiful fog-filled world, creating an already polished multiplayer adventure that beckons despite its Early Access status.

📚 Read: A glimpse into cinema's uncanny future as AI-generated feature films arrive at major festivals.

💡Did You Know

In 2011, when John Riccitiello was CEO of Electronic Arts (EA), he proposed a controversial monetization model for multiplayer shooters like Battlefield where players who ran out of ammunition could pay real money for instant reloads. This early concept of "pay-to-win" mechanics never made it into EA's games but foreshadowed the industry's ongoing debates about microtransactions and their impact on gameplay fairness. Riccitiello later became CEO of Unity, one of the world's most widely used game development platforms.

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