Lizhi Inc. (LIZI) stock prices were up by 2.34% shortly after market trading commenced on May 28th 2021, bringing the price per share up to USD$6.60 early in the trading day.
Apple Recommends LIZHI Podcast App
The company announced on May 28th that its innovative LIZHI Podcast app had been recommended by Apple’s App Store as one of its featured apps. LIZHI Podcast is the first podcast from China to be recommended by the App Store in the Chinese market, a significant milestone for the app, which was initially launched in January of 2021. The vertical podcast program has since been rated 5 stars by user since its inception.
LIZHI podcasts provides its users with a diverse catalog of high-quality podcast content, as well as immersive audio experiences with its Livestream Podcast feature. This feature facilitates real-time organic communication between podcast hosts and listeners on both cellular apps and LIZHI Podcast’s in-car audio product.
The company’s in-house audio technology solution that sees the combination of real-time communication technology and audio data transmission with noise reduction voice, quality optimization, and 3D enhancements has been dubbed the DOREME project. This project will power LIZHI podcast with an aim to facilitate the provision of stable and smooth Livestream Podcast experience for its users.
Partnering with Content Creators
Post-launch, LIZHI Podcast has partnered with various content creators across different industries and areas of interest to participate in podcasting for the first time. This aims to increase both the quality and penetration of Chinese podcasts. The company has also signed on exclusive content creators, as well as collaborated with brands and enterprises to facilitate the creation of branded podcast content to expand content offerings. LIZHI’s livestream feature provides a more effective way for content creators to reach audiences as compared to traditional podcast formats.
Solid Liquidity Position
Earlier in April 2021, LIZI consolidated its liquidity position with the closing of its registered direct offering of American Depository Shares (ADSs) and warrants. The offering will see the issuance of 3,685,504 ADSs and warrants to purchase up to 2,764,128 ADSs, at a purchase price of USD$8.13 per ADS and corresponding warrant. Each ADS is valued at 20 Class A ordinary shares each of which has a par value of USD$0.0001 per share.
Future Outlook for LIZI
Armed with a solid liquidity position, LIZI is poised to capitalize on the proliferation of its audio services across markets in China. Current and potential investors are hopeful that the company will continue to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.