Rumor: Tencent Invests in Xiaomi via Russian VC
DoNews, 7/23/13
According to industry insiders, Beijing-based Android handset developer Xiaomi has secured a new round of funding exceeding USD 2 bln from Chinese internet and mobile services firm Tencent (0700.HK), with Russian investment firm Digital Sky Technologies (DST) acting as an intermediary.
The latest round of funding values Xiaomi at approximately USD 10 bln.
Editor's Note: For more information on this topic, please see "Rumor: Fourth-Round Funding Values Xiaomi at USD 10 Bln," MD 7/16/13 and "Tencent Invests USD 300 Mln in Digital Sky Technologies," MD 4/12/10 issues.
Keywords: valuation wireless handset funding Tencent 0700.HK Xiaomi Digital Sky Technology VC smartphone
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