Xiaomi raises $1 bil­lion; now val­ued at 45 bil­lion

China Daily (Canada) - - NEWSCAPSULE -

Xiaomi Corp raised about $1 bil­lion in a new fund­ing round that val­ues China’s largest smart­phone ven­dor at $45 bil­lion, ac­cord­ing to a per­son fa­mil­iar with the mat­ter.

At $45 bil­lion, Xiaomi would be val­ued higher than any pub­licly traded per­sonal-com­puter or mo­bile-phone maker, ac­cord­ing to data com­piled by Bloomberg. Ap­ple trades at 3.73 times sales.

The fi­nanc­ing was led by All-Stars In­vest­ment Ltd and in­cluded Yuri Mil­ner’s DST and GIC Pte, the per­son said, ask­ing not to be iden­ti­fied be­cause the de­tails are pri­vate. Joy Han, a spokes­woman for Beijing-based Xiaomi, de­clined to com­ment.

Xiaomi founder and Chief Ex­ec­u­tive Of­fi­cer Lei Jun is ex­pand­ing over­seas and un­veil­ing new prod­ucts in­clud­ing an air pu­ri­fier to build on growth in China, where Xiaomi over­took Sam­sung Elec­tron­ics Co in smart­phone sales. In the third quar­ter, Xiaomi was the world’s third-largest ven­dor be­hind Sam­sung and Ap­ple Inc. (Photo 5)

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