On June 26th, Agora.io, a communications service provider, has listed under the symbol “API” on Nasdaq Stock Market. After pricing at $20/ADS (above the expected $16-$18/share range), the ADS closed its first trading day up about 152.5% at $50.5.
Before the IPO, the company has secured five rounds of financing invested by several well-known capitals both from China and overseas, including Morningside, IDG Capital, Tiger Global Management, and Coatue.
As a new investor, Dragoneer Investment Group intends to subscribe to Agora.io’s ADSs with the worth of $50 million. In addition, Agora.io plans to raise another $110 million in a concurrent private placement from Coatue.
Founded in 2014, Agora.io enables developers to add HD interactive broadcast, voice, and video calls into mobile and web apps through SDK. Now the company is committed to empowering online education globally with the technological advantages and seeking more cooperation opportunities.
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