Agora, the company behind real-time engagement APIs, has now made its livestream shopping technology accessible to more brands. This technology enables brands to create live commerce experiences, such as shoppable shows, live auctions, personal shopper livestreams, and more. The solution has been in beta testing since 2022.
With Agora's live shopping API, companies can integrate interactive livestreams into their platforms to showcase products in real time and potentially increase sales. The technology also facilitates customer assistance through live chat. Additional features include multiple camera angles, video captioning, reaction emojis, polling, co-livestreaming, and custom filters.
Agora is also experimenting with new capabilities, including an AI-driven video content moderation extension in beta from ActiveFence to protect users from harmful content. Another experimental tool is real-time transcription for live AI-powered transcription and subtitling services. The company is also developing new features for signaling to enhance synchronization.
CEO Tony Zhao stated that Agora's platform has been chosen by top retail brands and platforms, powering live shopping experiences for numerous sites and apps across various industries.
Zhao shared that Agora's clients have experienced up to 3x increases in conversion rates after implementing the technology.
One client leveraging the new technology is CommentSold, a live selling platform serving over 7,000 fashion retailers. CommentSold uses the functionality to enable sellers to invite collaborators to their shows with a link or QR code, maintaining control over the livestream even when guests join. CommentSold has facilitated over $3.8 billion in lifetime gross merchandise value (GMV).
Andrew Chen, Chief Product Officer at CommentSold, expressed excitement about the new features driving a paradigm shift in live selling, empowering sellers to gamify live shows and boost engagement. Sellers can now invite professional hosts, celebrities, and creators to co-host or host live shopping events, as well as invite VIP customers to increase interactivity and drive sales.
In addition to its live shopping technology, Agora offers a range of products including digital whiteboards for educational businesses, a voice calling SDK, 3D spatial audio extension, telehealth technology, and more.
Although the narrative around live shopping is growing in the U.S., with an estimated market value of $31.7 billion, it still comprises a small percentage of the overall e-commerce sales, which exceeded $1 trillion in 2022. Compared to China's $327 billion live shopping market, the U.S. has room for growth.
Agora starts life as a public company by more than doubling to $50 a share
