# Shenzhen Lazy Online Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shenzhen-lazy-online-technology-co

- Industry: Media
- Headquarters: Shenzhen, China
- Website: www.lrts.me
- Total disclosed funding: $31M
- Latest round: Series D (Aug 7, 2019)
- Investors on record: 7

## About

Shenzhen Lazy Online Technology Co., Ltd. operates a leading audio reading platform, specializing in a diverse collection of audiobooks that promote accessible and engaging reading experiences for users across various demographics in China.Founded in 2012 in Shenzhen, China, Shenzhen Lazy Online Technology Co., Ltd. is known for its audio reading platform that offers a wide array of audiobooks. The company was acquired by Tencent Music Entertainment Group in January 2021 for RMB 2.7 billion, previously backed by Qingsong Fund and others, indicating a strategic pivot towards integration with major digital media players. Bin Song, the founder, has a history of entrepreneurial ventures, which likely contributed to the company's innovative approach.Shenzhen Lazy Online Technology Co., Ltd. runs ???? (Lazy People Listening to Books), a comprehensive audio reading platform that provides listening services alongside host training and community interaction. The platform features an extensive library of audiobooks across genres, attracting over 300 million registered users, including casual listeners and avid readers. Its content strategy emphasizes collaborations with original authors and professional voice actors to enhance user engagement and satisfaction.The company generates revenue through a subscription-based model, offering VIP memberships that grant access to premium content. This model supports direct-to-consumer transactions, where users pay a recurring fee for exclusive audiobooks and programs. Collaborations with various publishers further enhance its catalog while generating revenue through licensing agreements. Although specific pricing details for subscription plans are not disclosed, the emphasis is on delivering high-quality audio content to its diverse audience.Following its acquisition in January 2021, Shenzhen Lazy Online Technology Co., Ltd. plans to leverage the resources of Tencent Music Entertainment Group for future expansion. The company is focused on launching new products that enhance user experience, although specific product details and release dates are not disclosed. Additionally, there are ambitions to expand its market reach beyond mainland China, seeking to tap into emerging markets in Southeast Asia by the end of 2024. The recent investment of RMB 2.7 billion will likely be instrumental in supporting these growth initiatives and enhancing the platform's technological capabilities.

## Funding rounds

- Series D, Aug 7, 2019 — CoStone Capital, Great Chiliocosm Capital
- Series C, Jun 25, 2018, $31M — Time Publishing and Media, Tianhe Culture Fund, Fuhui Capital
- Series A, Jan 1, 2012 — CyberAgent Capital
- Angel, Aug 1, 2011 — Qingsong Fund

## Investors

- Qingsong Fund (https://capitalatlas.ai/funds/qingsong-fund) — Angel
- CyberAgent Capital (https://capitalatlas.ai/funds/cyberagent-capital) — Series A
- Time Publishing and Media — Series C
- Tianhe Culture Fund — Series C
- Fuhui Capital (https://capitalatlas.ai/funds/fuhui-capital) — Series C
- CoStone Capital (https://capitalatlas.ai/funds/costone-capital) — Series D
- Great Chiliocosm Capital (https://capitalatlas.ai/funds/great-chiliocosm-capital) — Series D