LIZHI INC. ("LIZHI" or the "Company") (NASDAQ: LIZI), an
audio-based social and entertainment platform, today released a
letter to shareholders from the Company’s Founder and Chief
Executive Officer, Mr. Jinnan (Marco) Lai.
Dear LIZHI Shareholders,
In what seems like the blink of an eye, it’s
been two years since LIZHI was listed on NASDAQ. COVID-19 variants
have created staggering waves of the pandemic felt in many
countries, and continue to pose a multitude of uncertainties for
global economic recovery. Yet, despite the challenges that we’ve
faced against the backdrop of the pandemic and the softer
macroeconomic environment, LIZHI has persisted.
On behalf of the LIZHI team, I would like to
extend my deepest gratitude to our shareholders for their continued
support during this time. Your belief in LIZHI’s mission and goals
gave us encouragement amid the turmoil. You empowered LIZHI to
overcome these obstacles and achieve steady business growth in
2021. Heading into 2022, we believe our team’s sustained global
expansion efforts will further bolster our solid growth momentum in
the rapidly evolving macroeconomic environment.
Looking back on 2021, we would be remiss not to
highlight the momentous achievements in space exploration. In July,
many people watched the livestream of Virgin Galactic’s Unity 22
spaceflight. Shortly afterward, Blue Origin also accomplished the
same feat. In September, SpaceX’s Inspiration4 safely returned to
earth following a three-day Earth-orbiting mission with four
civilian crew members on board. For a brief moment, people all over
the world watched in awe as mankind’s dream of space travel came to
fruition.
The most exciting event for me personally was
Ingenuity’s first powered controlled flight on Mars. Mankind’s
first powered controlled extraterrestrial flight came more than a
century after the Wright Brothers’ test flight on the Wright Flyer
in 1903. In addition, the successful launch of the James Webb Space
Telescope after years of preparation enables us to see even further
into space, giving us a deeper understanding of the universe.
It is mankind’s inevitable mission to explore
the vast and infinite universe. However, when we look into the
cosmos, we are overwhelmed by how tiny we are by comparison. The
earth is but a grain of sand in the grand universe. That’s why,
during our explorations, self-reflection is needed to locate our
finite selves in the infinite universe and use our inner light to
guide our exploration through the pitch-black darkness of
space.
As everyone is aware, the human voice is one of
the most influential ways to vividly express our inner emotions.
Many thoughts and feelings of the human race are conveyed through
our voices. We use our tongue and throat flexibly to make various
sounds to express our emotions and to be understood by others. At
the beginning of our development, LIZHI leveraged its proprietary
voice-recording tools to amass a plethora of users who showcased
their vocal prowess and emotional expression. With our LIZHI App,
many users began sharing their inner dialogue through audio
recordings.
Later on, we rolled out the TIYA App, a social
audio networking platform that enables convenient real-time voice
communication online. Now, TIYA’s real-time voice interaction model
has become a popular means of online communication among young user
groups in the States. In 2022, we will continue to build on this
momentum and embrace innovative concepts such as the metaverse,
NFTs, and DAOs to create another new world – one of voice. Buddha
said: “One flower, one world.” All this is a state of mind. We
believe everyone has an inner universe known only to themselves.
With this notion, we are working to create a new universe through
voices to connect people and bind communities together.
To the LIZHI team, creating value for users has
always been at the core of our operations. It is why LIZHI exists.
And as we ruminate on how to create true and profound value for
users, we have had many revelations. Our insights into our users’
audio needs and demands have prompted numerous LIZHI innovations in
recording tools, audio livestreaming, and social audio networking
that resonate with our user base.
Over the past two to three years, in particular,
we realized that the only way to authentically satisfy user demand
on a deeper level and provide unique value was by establishing a
leading platform of proprietary foundational technologies. After
several years of preparation, we did exactly that. We launched
DOREME, our in-house real-time audio and video streaming technology
solution.
Next, we will introduce VoderX, our instant
messaging technology, to the global market. VoderX is designed to
provide the infrastructure framework that allows for more
customized technological support to a wider range of products,
further enriching the user experience. We are convinced that
developing these foundational technologies will both extend and
reinforce our business moats.
In my opinion, internet companies seeking to
build sustainable businesses need to have in-depth insights into
user demands, provide their users with products and services that
they value, build long-term technology investment roadmaps, as well
as strive to grow the next generation of business talent. In 2021,
we adamantly drove these ideas forward. We advanced our plan to
establish local teams worldwide, which we expect to include local
user profiling and operation teams that can deep-dive into user
demands to provide optimized services. We look forward to
developing a high-performance global business team over the next
three years.
Strongly believing in the importance of
cultivating young talent, we have also recruited our first cohort
of technology, product and operations trainees. Moving forward, we
will recruit more trainees from around the world to continuously
grow and optimize our talent pool. Young people of great potential
and vitality, who are also well aligned with our vision, mission
and values, will constitute the most essential part of our team in
the future.
In conclusion, our steady business growth,
continuous technological advances, and sustained organizational
optimization in 2021 have laid a strong foundation for our
long-term development. In 2022, we will steadfastly execute our
globalization strategy. We plan to further expand our international
business by strengthening our localized teams, persist in
developing our in-house technologies, and strive to advance product
innovation. At the same time, we are committed to providing more
useful and valuable products and services to users and building a
more competitive audio ecosystem, while simultaneously creating
more value for shareholders and society at large.
Thank you again for your support of LIZHI.
Sincerely yours,
Jinnan (Marco) Lai
Founder and CEO of LIZHI
About LIZHI INC.
LIZHI INC. has created a comprehensive
audio-based social ecosystem with a global presence. The Company
aims to cater to users’ interests in audio entertainment and social
networking through its product portfolios. LIZHI INC. envisions an
audio ecosystem where everyone can be connected and interact
through voices. LIZHI INC. has been listed on Nasdaq since January
2020.
Safe Harbor Statement
This press release may contain forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including
statements about the Company's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties, and a number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement. In some cases, forward-looking
statements can be identified by words or phrases such as “may”,
“will,” “expect,” “anticipate,” “target,” “aim,” “estimate,”
“intend,” “plan,” “believe,” “potential,” “continue,” “is/are
likely to” or other similar expressions. Further information
regarding these and other risks, uncertainties or factors is
included in the Company's filings with the Securities Exchange
Commission. All information provided in this press release is as of
the date of this press release, and the Company does not undertake
any duty to update such information, except as required under
applicable law.
For investor and media inquiries, please
contact: ir@lizhi.fm
For investor and media inquiries, please
contact:
In China:LIZHI INC.IR DepartmentTel: +86 (20)
3866-4265E-mail: ir@lizhi.fm
The Piacente Group, Inc.Jenny CaiTel: +86 (10)
6508-0677E-mail: Lizhi@tpg-ir.com
In the United States:The Piacente Group,
Inc.Brandi PiacenteTel: +1-212-481-2050E-mail: Lizhi@tpg-ir.com
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