Agora, a Chinese software developer listed on the Nasdaq, has seen its shares soar “150% in recent weeks after talk that the hit app Clubhouse uses its software,” The Information reports.
Why It Matters: Well, it’s not 100% clear that Clubhouse is an Agora client, but there are signs. Meanwhile, “Agora’s software development kit for integrating voice and video chat functions into apps have led it to a market value of nearly $10 billion.”
The success of Clubhouse (and possibly Agora) has generated other interest in getting involved. The New York Times reported Facebook was in the early stages of building a Clubhouse rival.
- The report also notes that CEO Mark Zuckerberg has a strong interest in audio-based social networking and ”should come as no surprise given Facebook’s reputation for brazenly copying competitors over the years.”
- Twitter has slowly rolled out its app called Spaces, a knock-off of Clubhouse that lets users create and host audio rooms with followers.
Meanwhile, Clubhouse is on its own run.
- It recently raised funds at a $1 billion valuation.
- Clubhouse is also working on paid features (possibly tipping) and an Android version of its app.
The Takeaway: Clubhouse’s growth trajectory continues to trend up. Last month, The Information reported it had 2 million weekly active users on the app at one point.
Lots of people are asking me to go live on Clubhouse. I have an account, but I’ll have to check it out over the weekend.