Xiaomi's latest funding over US$1b

0 Comment(s)Print E-mail Agencies via Shanghai Daily, December 22, 2014
Adjust font size:

China's top smartphone seller Xiaomi Corp is raising more than US$1 billion in a fresh round of funding, a move which would raise its valuation above US$45 billion.

Dow Jones Newswires, citing a person familiar with the issue, said yesterday that the latest round of funding could close as soon as today.

It was being led by tech investment fund All-Stars Investment and also involved current shareholders Russian investment firm DST Global and Singapore sovereign-wealth fund GIC.

Private equity firm Yunfeng Capital, which is affiliated with Alibaba Group Holding's Executive Chairman Jack Ma, was also taking part.

Established only four years ago, Xiaomi was valued at US$10 billion in a previous round of funding in August 2013.

Xiaomi's cheap, feature-packed handsets ousted Samsung as the top seller on the Chinese mainland in the second quarter.

Follow China.org.cn on Twitter and Facebook to join the conversation.
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter