Every week I’ll provide updates on the latest trends in SaaS valuations, earnings announcements, and highlight any noteworthy news. Follow along to stay up to date! Highlight of the Week - Agora IPO Last Friday Agora started trading under the ticker API. What a first week they had! The IPO priced at $20 / share (the price shares were sold to institutional investors), and the first trade was $45 (the first trade on an exchange) - a “pop” of 125%. The stock closed yesterday at $56.49 (after a 16% gain on the day!) which represents a 25% increase to where they began trading last week, and a jaw dropping 182% gain from the IPO price. The company has very strong fundamentals with net retention of 131% and a gross margin adjusted payback of ~10 months. They’ve also benefited significantly from “Covid Tailwinds” as developers and businesses look to embed more real time communication capabilities into their applications via the Agora API.
Great analysis and thanks for calling out the organic growth rate for Zoominfo
Just a tip/request: You could write about the upcoming SaaS IPOs and how to get into it.
Great post. Will you be including Accolade in your analysis?