Agora Inc., an API developer with offices in China and California, seeks an initial public offering of up to $100 million in New York. That’s equal to a whopping 81 times 2019 revenue of $64.4 million. This was Agora's second earnings release as a public company after following its IPO over the summer. SEE CHART. Oct-26-20 08:00AM ... Agora Announces Closing of Initial Public Offering and Full Exercise of the Underwriters' Overallotment Option. A $6.2 million net loss was reported for 2019, but $3 million in net income was reported for Q1. The total size of the offering was $350,000,000 based on an initial share price of $20.00. Like many other tech companies that have gone public in recent years, Agora has a dual-class share structure: Its Class B shares, all of which are owned by CEO Tony Zhao, have 20 times the voting power of its Class A shares. Needs to break out the wedge for confirmation. Agora, Inc. However, it also has a large U.S. subsidiary (known as Agora Lab) that’s based out of Silicon Valley. Agora reported a net loss of $36.9 million on total revenue of $35.6 million during the three months ended March 31, compared with a loss of $13.1 million on revenue of $13.4 million in the same period a year ago. The first was in 2015. Agora raised $350 million through its offering via the sale of 20 million American depositary shares (ADSs). At current levels, Agora, which trades under the symbol API, is worth $5.2 billion after accounting for outstanding shares and stock options. When losses related to preferred share costs are removed, Agora's losses were $2.5 million in Q1 2019 and $3.4 million in Q1 2020. After the end of Agora's lock-up period, restrictions preventing company insiders and major shareholders … Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Rings the Opening Bell in Celebration of its IPO Date & Time Jun 26, 2020 9:15am - 9:30am Location Nasdaq MarketSite Tower, 4 Times Square New York ". The share price is rising and gonna continue this trend today. It's a low volume stock, needs to catch up interest to break out. Stock Events is designed to be as simple and reliable as possible to save you valuable time. More about Agora IPO In its filing to Nasdaq , Agora reported a Q1 growth in revenue by 165.7% making up $35.6 million. On its first day of trading, Agora is being granted a valuation even higher than that of larger rival Twilio  (TWLO) - Get Report. At current levels, Agora, which trades under the symbol API, is worth $5.2 billion after accounting for outstanding shares and stock options. Chinese software company Agora Inc., whose U.S. headquarters is in Santa Clara, set price targets Monday for a Friday IPO in which it hopes to raise up to $362 million. That’s equal to a … Agora’s main executive offices are located in China, and the company counts a number of Chinese tech companies as clients and considers Chinese tech giant Tencent  (TCEHY)  a rival. shares are up 145% Friday to $49.19 on their Wall Street debut, the morning after it priced its initial public offering above the expected range. Shares of Agora Inc. more than doubled in its trading debut, after the Shanghai-based video interaction software company's initial public offering priced above its expected range. Agora Inc. There have been ups and downs since then, but its stock has remained well-above its IPO price ever since the company went public. Market Watch - 5 months ago Agora's stock more than doubles in public debut Shares of Agora, a China and U.S.-based “real-time engagement” API company, soared today after it went public. Agora, Inc. today announced that it has filed a registration statement on Form F-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its Class A common stock. Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. What do I do. About Agora.io Stock Founded in 2014, Agora is a Communications-Platform-as-a-Service (CPaaS) provider delivering mobile-first, real-time communications for developers and businesses globally. Investors wanted to take the company public and raise $1.6 billion. Stock Events brings you closer to the information you need which is why Stock Events is a must-have tool for any investor. Filed 2020-06-05 Terms Added 2020-06-19: For IPO Boutique's "scale of 1 to 5" BUY rating on Agora, Inc., and our comprehensive analysis, click "Buy Market Research. Agora’s stock price surged on its first day of trading, closing more than 150 percent above its IPO price. On opening day, the stock rose about 66 percent to $33.25, up from $20 when it began trading. : Get the latest Agora stock price and detailed information including news, historical charts and realtime prices. Action Alerts PLUS is a registered trademark of TheStreet, Inc. The stock has added to gains since the open, and was last trading 145.0% above its IPO price. The warm reception and rich multiples granted to Agora is one more example of Wall Street’s current enthusiasm for high-growth software companies. Why Agora (API) Stock is a Compelling Investment Case. IPO intraday trading strategy idea Agora offers a suite of voice and video application programming interfaces. © 2020 TheStreet, Inc. All rights reserved. Stock Events is the easiest and simplest way to view upcoming and past public company earnings, dividiends and more. View analysts' price targets for Agora or view Wall Street analyst' top-rated stocks . Agora IPO | API NASDAQ Listed – View Bell Ringing Ceremony. Active customers -- defined as customers that produced more than $100 in revenue over the prior 12 months -- totaled 1,176 at the end of March, up from 1,041 at the end of December and 678 a year earlier, according to Agora's IPO prospectus. Agora's platform, like Twilio's, lets developers add communications features to their websites and apps. Agora's financials make its IPO pricing a neat puzzle, so let's pull apart the good and the bad to better understand why the market was willing to pay than the company anticipated. Free cash flow -- a metric that can be lumpy on a quarterly basis -- was negative $4.1 million for 2019 and negative $3.4 million for Q1. Shares of General Electric Co. rallied Tuesday toward their first gain in four trading days, after two Wall Street analysts raised their price targets by more than 40%, both on upbeat outlooks for 2021. It came after Albertsons’ merger with Safeway. These and other conditions can cause a rise in the share price today. Agora, which like Twilio provides programming interfaces (APIs) that let developers add voice, video and messaging features to their websites and apps, opened for trading on Friday morning at $43.25, 116% above its $20 IPO price. IPO News. Agora had issued 17,500,000 shares in its IPO on June 26th. - Barrons; 2 hours ago - DoorDash stock takes off as IPO price starts trading at $182 per share - CNET 2 hours ago - Airbnb Sets Sights … API, Agora Inc. API, +9.78% shares are up 145% Friday to $49.19 on their Wall Street debut, the morning after it priced its initial public offering above the expected range. MENU MENU. AGORA $API POST IPO, POSSIBLE BOTTOM. Contributing to Agora’s high multiples: With the COVID-19 pandemic driving major increases in voice/video calling and messaging activity, Agora’s revenue growth has accelerated sharply in recent months. Agora Inc. API, -0.72% shares are up 145% Friday to $49.19 on their Wall Street debut, the morning after it priced its initial public offering above the expected range. For comparison, Twilio, which is up about 120% on the year, trades for 26 times 2019 revenue of $1.13 billion. This suggests a possible upside of 5.2% from the stock's current price. The Agora real-time communication stack includes features like include voice calling, video calling, … Video Call Embed real-time high quality video chat and group chat into any app with our easy-to-embed SDK. Stock Markets Delay Albertsons IPO. It posted a net income of … Agora's API is the most widely adopted API for real-time communications around the world, installed on more than 500 million devices and rapidly growing. For most investors, an IPO signals an opportunity to start buying the company's stock the day it starts trading on the market, rather than the chance to get in on the stock at the set IPO price. GE’s stock jumps after two Wall Street analysts raise their targets by more than 40%, This month’s hottest IPO isn’t DoorDash or Airbnb — it’s artificial-intelligence company C3.ai, As bitcoin busts out new records, these market watchers see $250,000 and even $400,000 on the horizon, Jobless claims hit nearly 4-month high on more coronavirus-induced layoffs, Americans are draining their checking accounts as stimulus talks drag on. "Our service is quite relevant in this work-from-home climate, and the feedback to our public debut today is good," Agora Chief Executive Tony Zhao told MarketWatch in a phone interview Friday. The demand for shares of the company still looks higher than the supply. Agora also intends to grant the underwriters a 30-day option to purchase up to an additional 2,625,000 ADSs … Voice Call Add real-time crystal-clear voice chat into any application with our easy-to-embed SDK. CNW Group. Whereas revenue rose 47% in 2019, it grew 166% annually in Q1 2020 to $35.6 million. "But our focus is always focused on building a good company. Copyright © 2020 MarketWatch, Inc. All rights reserved. Agora, a Chinese provider of APIs for developers to embed voice, video, and messaging, raised $350 million by offering 17.5 million ADSs at $20, above the range of $16 to $18. Products. 29 minutes ago - DoorDash IPO Soars; Commission Caps Make Early News - PYMNTS 1 hour ago - Software firm C3.ai skyrockets 174% after $651 million IPO - Business Insider 2 hours ago - DoorDash IPO Spurs Other Stocks.SoftBank Is the Biggest Winner. As a result, Zhao’s shares give him more than 80% of all voting rights. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Find the latest Agora, Inc. (API) stock quote, history, news and other vital information to help you with your stock trading and investing. That in turn might bode well for other software firms looking to go public, such as banking software provider nCino and (reportedly) online storefront software provider/Shopify  (SHOP) - Get Report rival BigCommerce. This is the third time Albertsons has attempted an IPO. We can't do anything about things like legislation or other factors that might affect us," he added, acknowledging federal legislation that could impact companies with major operations in China. Follow him on Twitter @jswartz. My wife and I missed mortgage payments over unpaid debts, yet she spends money and hides her finances. The company calls its technology “Real-Time Engagement Platform-as-a-Service, or RTE-PaaS.” Agora SDK provides software modules for developers to embed real-time engagement capabilities into an application. On average, they expect Agora's stock price to reach $50.00 in the next year. However, late 2015 wasn’t friendly to retail stocks. Underwriters have an option (likely to be picked up) to purchase another 2.625 million shares to cover overallotments. The video-interaction software company, with headquarters in Shanghai and Santa Clara, Calif., raised $350 million on the sale of 17.5 million American Depositary Receipts at $20 per ADS, compared with expectations that the IPO would price between $16 and $18. Jun-26-20 04:42PM : Albertsons Falters in Debut After $800 Million IPO Letdown. SANTA CLARA, Calif., June 21, 2020 /PRNewswire/ -- Agora, Inc. ("Agora"), a real-time engagement API provider, today announced the launch of an initial public offering of 17,500,000 American depositary shares ("ADSs"), each representing four Class A ordinary shares of Agora. Agora Inc.'s api initial public offering priced late Thursday above the expected range, as the Shanghai-based video interaction software company raised … Agora raised about $350 million in its IPO for shares that, by the end of the first day of trading, were worth over $880 million. -2.95% And as of the time of this article, shares are trading at $46.85, up 134%. Insider Monkey. Agora's API is installed on more than 500 million devices. Since then, but its stock has remained well-above its IPO price our insights... Up ) to purchase another 2.625 million shares to cover overallotments company after following its price. Overallotment Option ( likely to be picked up ) to purchase another 2.625 shares... 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