ASX-listed social app Hear Me Out hires legendary broadcaster Larry King
Social network Hear Me Out has surged almost 12 per cent off news of celebrity backing from legendary US broadcaster Larry King.
The Israeli-developed app lets users share and listen to 42-second audio posts through the platform’s feed just like Twitter or Facebook.
The 84-year-old broadcaster — who hosted late-night CNN talk show Larry King Live for 25 years — stands to earn 150,000 options at a conversion price of 20c over two years if he pulls in big audiences.
”I am both pleased and excited to be working with HearMeOut, as while I have always enjoyed the ability to talk directly to my audiences through social media, I believe the HearMeOut platform will allow me to do this like never before — using my own voice.”
Hear Me Out (ASX:HMO) hopes Mr King — who now hosts Larry King Now on US streaming network Hulu — will attract some of his 3 million Twitter followers to the platform.
Hear Me Out shares gained 12 per cent to 19c on Monday, valuing the company at $7 million.
The shares have traded between 7c and 25c since listing in December last year.
The American TV personality has been active in podcasting and online media since leaving CNN.
In 2012 he co-founded Ora TV, a pioneer in digital video streaming which brought him three Emmy award nominations for talk shows Larry King Now and Politicking with Larry King.
King made global headlines in 2009 when he went head-to-head with Ashton Kutcher in an online popularity contest, each racing to get 1 million followers on Twitter.
Downloads of the HearMeOut app on Google Play exceeded 500,000 since its March launch.
The company reported outgoing operating cash flow of $792,000 in the September, leaving $3.6 million in the kitty. Costs this quarter were expected to be $925,000.