Agora shares are rising as investors try to accelerate the growth of the Clubhouse app

The audio social media app exclusively for Clubhouse guests has exploded since its launch in 2020, and retail investors are taking note.

Investors could play the popularity of the private app by buying shares in Agora, which may have powered the app’s live streaming audio features, and Clubhouse Media Group, which is not connected to the social app, but has a similar name. Agora shares rose more than 44% months to a record high of $ 81.48 per share. Clubhouse Media grew by more than 116% to a high of $ 17.99 per piece.

Spokespersons for Clubhouse and Agora did not immediately respond to a request for confirmation as to whether the application actually uses Agora software.

Clubhouse, the social application, is similar to a live, unfiltered podcast. You connect to the application and you can jump into different “rooms” where live discussions take place around a variety of topics. The app is still in its infancy and most of the discussion is about technology, entrepreneurship and other issues in Silicon Valley.

The company, valued at $ 1 billion, has reported a strong increase in users since its inception, now at over 2 million. Most recently saw an increase in ET activity early Monday, when Tesla CEO Elon Musk joined the platform to discuss a number of topics.

Musk’s arrival could probably be behind Monday’s stock rise in what some believe to be associated companies, given that Musk has a strong history of listing a listed company and sending shares. In the last week, Musk’s signs to Etsy, CD Projekt, GameStop and even the Bitcoin cryptocurrency have raised prices.

Now, people want to monetize Clubhouse growth.

“It’s not widely known, but the app was built on the Agora application program (API) interface in a week. The checkbox is also the API. Agora has a usage-based model, rather than a subscription, so as the minutes go by, they make more money. If the reports are true, it seems like a way under the radar to play the rise of Clubhouse, “a user posted last week on Reddit’s Wall Street Bets forum, which is behind the recent GameStop craze.

At the same time, Clubhouse Media is jumping. So far, the stock has increased more than sixfold. It is not clear whether investors are pouring into shares because they consider it to be the socialization company or whether they are buying shares, assuming that others will think it is the socialization application.

A similar confusion occurred recently in a confusion between Signal, the encrypted messaging application, and Signal Advance. Earlier, investors mixed Zoom Video Communications and Zoom Technologies.

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