To find out how to turn off your ad blocker, click here.
If this is your first time registering, check your inbox to learn more about the benefits of your Forbes account and what you can do next.
Shares of Agora, Shanghai’s Shanghai-subsidized provider of voice and video communications video placars, rose 153% since their $20 IPO charge last week, much for the last time to $50.50 when they entered the Nasdaq. Your one-day gain is the most productive among U.S. IPOs. Since Beyond Meat indexed in 2019, according to Renaissance Capital. Yesterday, Insurtech Lemonade’s 134% one-day gain was close, but it didn’t exceed agora’s.
Agora’s continued profits this week have elevated the apple’s CEO, Tobig apple Zhao, to the ranks of the world’s billionaires. Agora rose 15.8% on Thursday to about $56.4 nine, which is consistent with the stock, which raised Zhao’s share to $1.1 billion.
Investors are out of supply in Agora in the component in the hope that Covid-1nine outages will continue to drive demand for their real-time voice and video netpainting services.
Agora was founded in 2013 through Zhao, who was technical director and director of the Chinese online streaming site Nasdaq, YY (recently renamed JOYY). Zhao, 49, worked at WebEx Communication and holds a bachelor’s degree in radio and electronics from Peking University.
Agora’s IPO gain also rewarded some of China’s best-known venture capitalists. Richard Liu, who ranked No. 6 on the Midas Forbes 2020 list, is a member of the Agora Board of Directors and Managing Director of Morningaspect Venture Capital; Tuck Lye Koh, ranked 42st on the Midas Forbes 2020 list, is a member of the Agora Board of Directors and CEO of Shunwei Capital, whose budget holds 7.8% of Agora. And the budget controlled through Jenbig apple Lee’s GGV Capital owns a 1.8% stake; Lee ranked 35th on the Forbes Midas 2020 list.
Click here for a profile beyond.
See similar stories:
Chinese optimism and Xiaomi Ties Shunwei CEO arrive on Forbes Midas 2020 list
Exclusive interview: world’s No.1 venture capital raises China
@rflannerychina
I’m editor-in-chief and head of Forbes magazine’s Shanghai office. Now in my 1 year at Forbes, I’m compiling forbes China’s Rich List and Taiwan’s Rich List. I was…
I’m editor-in-chief and head of Forbes magazine’s Shanghai office. Now in my sixteenth year at Forbes, I’m compiling Forbes’ China Rich List and Taiwan’s Rich List. A while ago I was a correspondent for Bloomberg News in Taipei and Shanghai and the Asian Wall Street Journal in Taipei. I’m the best friend from Massachusetts, I speak Mandarin fluently, and graduated from the University of Vermont and the University of Wisconsin at Madison.