Chinese language podcasting and audio content material app Lizhi debuts on Nasdaq

Lizhi, one in all China’s greatest audio content material apps, is debuting on Nasdaq right now beneath the ticker image LIZI. It’s the first of its main opponents, Ximalaya and Dragonfly, to go public (although Ximalaya is anticipated to additionally listing in the US later this 12 months). Lizhi is providing 4.1 million shares at an IPO value of $11 per share.

Although Lizhi, Ximalaya and Dragonfly every host podcasts, audiobooks and livestreams, Lizhi, whose buyers embrace Xiaomi, TPG, Matrix Companions China, Morningside Enterprise Capital and Orchid Asia, has differentiated itself by specializing in user-generated content material created with the app’s recording instruments.

In accordance with market analysis agency iResearch, it has the most important group of user-generated audio content material in China. The corporate stated that within the third quarter of 2019, it had a base of 46.6 million common month-to-month lively customers on cell and 5.7 million common month-to-month lively content material creators. Whereas podcasts within the U.S. sometimes use income fashions primarily based on adverts or subscriptions, creators on Lizhi and different Chinese language podcasting apps monetize by way of digital items, just like those given by viewers throughout video livestreams.

In an interview with TechCrunch, Lizhi CEO Marco Lai stated the corporate plans to make use of proceeds from the IPO to put money into product improvement and its AI expertise. Lizhi makes use of AI tech to distribute podcasts, which it says leads to a 31% click on charge on content material. AI can be used to watch content material, give creators prompt consumer engagement knowledge and supply options that permit them to fine-tune recordings, cut back noise and create 3D audio.

Regardless of its fast development, Lai says on-line audio in China remains to be an rising section. About 45.5% of whole cell web customers in China listened to on-line audio content material in 2018, however adoption is anticipated to extend as IoT units like sensible audio system change into extra fashionable, particularly in smaller cities. Lizhi has a partnership with Baidu for its Xiaodu sensible audio system, and develop new methods of distributing content material for IoT units, says Lai.

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