Agora (API) plans to raise $298 million in an initial public offering (IPO) on Friday, June 26th, IPO Scoop reports. The company will be issuing 17,500,000 shares at a price of $16.00-$18.00 per share.

In the last year, Agora generated $86.1 million in revenue and had a net loss of $91 million. Agora has a market cap of $1.7 billion.

Morgan Stanley and BofA Securities acted as the underwriters for the IPO and Neeham was co-manager.

Agora provided the following description of their company for its IPO: ”  To make real-time engagement ubiquitous, allowing everyone to interact with anyone, anytime and anywhere. We pioneered Real-Time Engagement Platform-as-a-Service, or RTE-PaaS, and we are the global leader by market share in this rapidly growing industry. Our platform provides developers simple-to-use, highly customizable and widely compatible application programming interfaces, or APIs, to embed real-time video and voice functionalities into their applications without the need to develop the technology or build the underlying infrastructure themselves. The real-time data transmission is handled by our Software-Defined Real-Time Network, or SD-RTN, which is a virtual network overlay on top of the public internet running on more than 200 co-located data centers worldwide. Using sophisticated algorithms, the SD-RTN continually monitors and optimizes data transmission paths through the network to minimize latency and packet loss, enabling high quality real-time engagement across millions of concurrent users. “.

Agora was founded in 2013 and has 498 employees. The company is located at Floor 8, Building 12, Phase III of ChuangZhiTianDi, 333 Songhu Road, Yangpu District, Shanghai, People’s Republic of China and can be reached via phone at +86-400-632-6626 or on the web at http://www.agora.io.

Receive News & Ratings for Agora Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agora and related companies with MarketBeat.com's FREE daily email newsletter.