Just after four years after it was founded, Xiaomi has now been declared as one of the world's most valued start-up technology. The smartphone maker in fact had already overtaken Samsung as the most widely used smartphone provider in China.
Just recently, Xiaomi managed to raise more than $1 billion in a funding run. The company now has a total valuation of $45 billion surpassing the taxi booking app Uber with only $40 billion market valuation. With just four years in market circulation, Xiaomi has risen to rival the world's biggest smartphone manufacturers, just close behind Samsung and Apple. Xiaomi has already revealed on an official statement that they will be unveiling their newest smartphone on Jan 2015.
On a Facebook post by its co-founder and current president Bin Lin, he revealed the company's list of investors. The long list consists of private equity funds All Star Investment, Yunfeng Capital, Hopu Investment Management, DST Global and surprisingly a Singaporean sovereign wealth fund GIC. Mr. Bin on an interview also said "This is an affirmation of Xiaomi's stellar results in four years, and heralds a new phase for the company."
Xiaomi has developed a simple strategy of producing cheap but durable smartphones. The company's strategy has so far paid off and saw the company overtaking Samsung in terms of overall sales in China. The company's market valuation has quadrupled to $40 billion in just a span of one year.
The unstoppable rise of Xiaomi was only halted by a recent patent lawsuit filed by a Swedish company Ericsson. After the lawsuit was filed, Xiaomi smartphone's were banned to be sold in India, this caused the worldwide sales of the company to significantly plummet.
Xiaomi is currently based in Beijing and according to official statements release by the company they are targeting a total of 60 million unit sales for this year. Xiaomi manages to sell 20 million units last 2013.
