Chinese Podcaster Platform Funded by Who’s Who In Venture Aces Nasdaq IPO

LizhiChinese podcasting-plus player LIZHI rang the bell at NASDAQ on January 17, 2020, becoming the first stock among Chinese audio players. As an investor of LIZHI’s Series B and Series C, Morningside Venture Capital noted that the firm “is honored to accompany and participate in the growth for years.”

LIZHI, an interactive audio-streaming platform for user-generated content in China, raised $45 million by offering 4.1 million shares at $11, the low end of the range of $11 to $13.  Shares in the Chinese podcasting and interactive platform  soared by 25% on its Nasdaq liftoff. 

Here are some key metrics about Lizhi, based on my interview on the day of the IPO with CFO Catherine Chen.

  • The largest online UGC audio community in China as of September 30, 2019, according to iResearch
  • The largest interactive audio entertainment platform in China measured by total MAUs for the nine months ended September 30, 2019: iResearch
  • One of the few online audio platforms providing fully automated AI distribution in China.
  • An early mover to cooperate with leading IoT (Internet of Things) players to develop new use cases and innovative products
  • Highly engaged user community with a dynamic user base demonstrated by around 46.6 million average mobile MAUs, 5.7 million average monthly active content creators and 2.5 billion average monthly total interactions in the third quarter of 2019.
  • Strong investor base: Xiaomi, TPG, Matrix, Morningside, Orchid Asia