Mediaboss Marketing

The stock price of Lizhi Inc (NASDAQ: LIZI) a leading online user-generated audio community and interactive audio entertainment platform in China is trading at over 70% today as it went from a previous close of $5.16 to over $8.80 (as of 1:48 PM ET). Investors are responding to the company issuing a letter to shareholders. The letter was issued by the companys Founder and Chief Executive Officer, Mr. Jinnan (Marco) Lai.

It is my pleasure to issue the first letter to shareholders on behalf of LIZHI INC. after the company went public. First of all, I would like to express my sincere gratitude to all our shareholders for your support and trust over the past year. 2020 was indeed an extraordinary year for all of us, said Lai. The sudden outbreak of the COVID-19 pandemic caused many disruptive changes and uncertainties to our daily lives. Even so, 2020 was a landmark year for LIZHI as we successfully listed our shares on the Nasdaq Global Market in the U.S. Embarking on our new journey as a public company is a milestone and a new beginning for us. Despite the challenging macro environment, we have stood our ground and are proud to have achieved certain impressive results.

Lai said that the company has a goal of becoming one of the largest audio platforms globally. And based on the companys vision of globalization, it put forward a strategy to expand our global footprint through audio innovation in 2020. Shortly after launching in the U.S., the companys audio-based social product Tiya became ranked in the top 4 social networking apps in the U.S. And within a few months of Tiyas launch worldwide, it was ranked among the top 10 social networking apps in about 50 countries worldwide.

We believe that online social networking through audio will become a dominant method of social networking in the future, Lai added. People enjoy meeting and chatting in cafes, bars, and restaurants which is probably one of the most genuine and engaging ways to socialize. Encouragingly, we are now able to mimic such forms of social networking through real-time online audio networking platforms, where people get together virtually, chat online and share their daily lives. We envision a future where real-time audio-based social networking can be realized anytime anywhere either through the mirrors in restrooms, in self-driving smart cars, or through smart headsets that people carry around.

The company also launched an Innovation Training Camp internally to equip employees with innovative thinking in tandem with scientific methods. And the company also continued to invest in our management team with a lot of resources and systematic training to enhance management skills.

We firmly believe that the upcoming 5G and IoT era will widen prospects and potential for audio products, and we will spare no effort to provide users with high-quality services. In addition to the continuous optimization of our existing product offerings, we launched a new mobile app, LIZHI Podcast (also named LIZHI BOKE in Chinese), in January 2021, to provide our users with a more compelling podcast experience, explained Lai. We also are striving to broaden our product offerings for a variety of use cases, such as in-car audio and smart home. We are committed to providing users with a better audio experience and meeting their audio needs under different use scenarios.

This year, the companys core strategy is to create more connections between people and provide them companionship through our online audio platforms, aiming to increase brand recognition and attract a broader user base all over the world.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

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LIZI Stock Price Increases Over 70%: Why It Happened - Pulse 2.0