|Bid||7.23 x 800|
|Ask||7.34 x 1100|
|Day's Range||5.81 - 7.29|
|52 Week Range||1.95 - 16.75|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
TikTok owner ByteDance is working on a Clubhouse-like app for China, sources familiar with the matter said, as the global success of the U.S.-based audio chat service inspires a rush of copycats in the country. At least a dozen similar apps have been launched in the past month, with momentum picking up after Clubhouse was blocked in China in early February. Clubhouse had seen a surge in users who participated in discussions on sensitive topics such as Xinjiang detention camps and Hong Kong independence.
China’s online UGC audio community and interactive audio entertainment platform Lizhi Inc (NASDAQ: LIZI), forged a partnership with the automotive intelligence technology company, ECARX, to integrate its in-car audio product with ECARX’s intelligent connected platform. Lizhi’s in-car audio product through ECARX’s intelligent connected platform is expected to be launched on multiple vehicle models equipped with ECARX’s intelligent cockpits. Lizhi aims to boost ECARX users’ in-car audio experiences with personalized content offerings backed by an AI-empowered recommendation and distribution system while reaching a broader user base via ECARX’s platform. Price action: LIZI shares are down 9.87% at $7.76 on the last check Thursday. Related News: ByteDance Looks To Copycat Popular Clubhouse App For China: Reuters See more from BenzingaClick here for options trades from BenzingaByteDance Looks To Copycat Popular Clubhouse App For China: Reuters© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
TikTok parent ByteDance is working on replicating the popular U.S.-based audio chat service, Clubhouse, for China, Reuters reports. Discussions about TikTok and ByteDance on Clubhouse attracted interest from ByteDance executives, including CEO Zhang Yiming. However, ByteDance’s initiatives are still in the nascent stages. Clubhouse can host up to 8,000 people per chat room and witnessed significant traction during a discussion between Tesla Inc (NASDAQ: TSLA) CEO Elon Musk and Robinhood CEO Vlad Tenev. At least a dozen similar apps were launched last month, further fueled by the ban of Clubhouse in China in early February. Clubhouse noted a surge in users who participated in discussions on controversial topics, including Xinjiang detention camps and Hong Kong independence. Other similar initiatives include Xiaomi Corp’s (OTC: XIACF) (OTC: XIACY) adaptation of its Mi Talk app into an invitation-only audio service targeted at professionals last week. There are reportedly multiple apps under development. Lizhi Inc’s (NASDAQ: LIZI) Zhiya app launched in 2013 involves singing or conversations regarding games. The app mandates real-name registration, monitors conversations in every room and deploys artificial intelligence tools to remove objectionable content, including pornography or political controversies. The app was temporarily taken down by Chinese regulators in 2019 and restored upon rectifications. According to Lizhi, audio chat apps exude immense potential without politically sensitive content and non-expression of opinion in public in line with the country’s culture. Inke Ltd launched a similar app, Duihuaba, this month that engaged venture capitalists, fashion critics, and other celebrities to host conversations. However, the app was abruptly pulled out within two weeks of its debut over further undisclosed modifications. Price action: LIZI shares closed lower by 3.69% at $8.61 on Wednesday. See more from BenzingaClick here for options trades from BenzingaAmazon To Debut 2,500-Square-Foot Cashierless Store In London: BloombergGeneral Motors Extends Production Cut Amidst Chip Crisis: Reuters© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.