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Agora +25% today
After a pretty shaky 6 months or so, Agora seems to be gaining momentum. This seemed like one of the most exciting winners of the year, playing on hot themes like voice/video, developer tools, usage-based pricing, etc. The one-line description is that $API provides developer tools to incorporate real-time voice and video into apps.
In particular, the company excels at 1:many use cases rather than 1:1 which is offered by myriad vendors including $TWLO. Think use cases like live shopping, edtech apps, social-audio, etc.
The stock is up 25% today and 78% the past month fueled by the large growth of one of it's customers, Clubhouse. A few tweets noted that Clubhouse was using the Agora SDK, meaning that it's social-audio was powered by Agora. And last night, the app was really on display as Elon Musk essentially maxed out the app's room capacity minutes before he even appeared. In my opinion, Clubhouse legitimizes Agora's product and highlights a potential shift towards more livestreaming use cases in America.
I'm still long Agora because I think we'll see more apps that are wrapped in live audio and video, but am continuing to ask myself two key questions:
- Do customers eventually build internally rather than buy Agora? And at what point does this happen? We saw the same concern with Twilio (ie $UBER was once 12% of their revenue and then left), but they have such a large customer base that it proved to be less problematic.
- Will Agora be able to make a presence in the US market? Especially where their brand is not as recognized as adjacent names like Zoom (which has an SDK) and Twilio.
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