Restart Technology
Agora’s above-range pricing underscores a welcoming IPO market
What are the unicorns waiting for?
In a move that highlights how open the American IPO window may be at the moment, China-based Agora priced its public offering https://www.marketwatch.com/story/agora-raises-350-million-as-ipo-prices-above-expected-range-2020-06-26]at $20 per share last night, ahead of its $16 to $18 proposed price range. (Update: https://techcrunch.com/2020/06/24/ipos-that-could-happen-soon-cannot-happen-soon-enough/]As noted here, the company has a second HQ in California.)
At $20 per share, the 17.5 million shares sold in its debut raised $350 million, a huge haul for a company that reported around 10% of that figure in Q1 2020 revenue. Provided that your humble servant is doing his Class A to ADS share conversion calculations correctly, Agora is worth about $2 billion at its https://crunchbase.com/organization/ipo]IPO price.
Agora raised https://www.crunchbase.com/organization/agora-io]well over $100 million while a private company, backed by GGV Capital, Coatue and others, according to Crunchbase data.
The Exchange is a daily look at startups and the private markets for Extra Crunch subscribers; use code EXCHANGE to get full access and https://techcrunch.com/subscribe/]take 25% off your subscription.
Agora is an API-powered company that allows customers to embed real-time video and voice abilities in their applications; appropriately, the company’s ticker symbol in America will be “API.”
https://techcrunch.com/subscribe/]
"use strict";
var adace_load_5f9830a020fc3 = function(){
var viewport = $(window).width();
var tabletStart = 601;
var landscapeStart = 801;
var tabletEnd = 961;
var content = '%3Cscript%20async%20src%3D%22%2F%2Fpagead2.googlesyndication.com%2Fpagead%2Fjs%2Fadsbygoogle.js%22%3E%3C%2Fscript%3E%0A%09%09%3Cins%20class%3D%22adsbygoogle%20adace_adsense_5f9830a020f83%22%0A%09%09style%3D%22display%3Ablock%3Bwidth%3A728px%3Bheight%3A90px%3B%22%0A%09%09data-ad-client%3D%22ca-pub-6373108834041295%22%0A%09%09data-ad-slot%3D%228935548837%22%0A%09%09%0A%09%09%3E%3C%2Fins%3E%0A%09%09%3Cscript%3E%28adsbygoogle%20%3D%20window.adsbygoogle%20%7C%7C%20%5B%5D%29.push%28%7B%7D%29%3B%3C%2Fscript%3E';
var unpack = true;
if(viewport
})(jQuery);
