Xiaomi rejects Facebook’s investment offer

by bold-lichterman

Now in 3rd place among smartphone manufacturers, even though they are only marketed in Asia and India, Xiaomi is now coveted by many players. Starting with Facebook, whose offer was refused last October, according to Reuters, both for political reasons, Facebook being little appreciated by the Chinese authorities, and strategic, Xiaomi using Android as OS.

At the end of December, Xiaomi finalized a round of funding of 1.1 billion dollars for a valuation close to 45 billion dollars, from All-Stars Investment, Russian venture capital firm DST Global and GIC, a Singaporean fund.

Founded in 2010 by Lei Jun, Xiaomi has managed to establish itself in the global smartphone market. In the third quarter, the firm already totaled 21% of the Chinese market, overtaking Apple (16%), according to a study by Kantar World Panel. Globally, Xiaomi was in the third quarter the third largest seller of smartphones according to an IDC study.

The company has diversified since its activities and recently launched a connected blood pressure monitor, or invested $ 200 million in Midea to strengthen in the connected home.