Xiaomi, the Chinese smartphone maker, is set to raise $ 1 billion for a valuation close to $ 45 billion, says the Wall Street Journal as well as Bloomberg. The deal is expected to close with All-Stars Investment, Russian venture capital firm DST Global and GIC, a Singaporean fund.
Better valued than Uber
According to the business daily, Jack Ma, the founder of Alibaba, the Chinese e-commerce giant recently listed on Wall Street, would also have participated in the round via Yunfeng Capital, one of its investment holding companies.
With this new operation, Xiaomi would be among the most capitalized start-ups in the world. It would exceed Uber, valued more than $ 40 billion since its last fundraising.
Founded in 2010 by Lei Jun, Xiaomi has managed to establish itself in the global smartphone market thanks to its entry-level models running Android. 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.