HISTORY AND FUNDING
Xiaomi managed to take the electronics and mobile world by storm in 2014. Their flagship device, Mi4 was one of the best-selling phones in history and paved the path for mid-level mobile phones and their market base.
The company was founded by eight partners in the year 2010 and was funded by a Singapore based investment group called Temasek Holdings and Chinese venture capitalists called IDG Capital along with Qiming Venture Partners. They were one of the first companies that were endorsed by core mobile companies, Qualcomm. Xiaomi continues to use their processors for their devices even today.
One of the first devices that came out of Xiaomi was Mi2. This was the first device that featured the revolutionary and famous Qualcomm Snapdragon chip. The device sold close to 10 million units within the first 11 months of its inception, thus allowing Xiaomi to gain a foothold in markets such as Australia, United States, Europe and New Zealand.
In 2014, they managed to raise close to $1 Billion in equity funding with the help of a Hong Kong based investment group,All- Stars Investment Limited. This gave them a valuation of close to $45 billion, making them one of the most valuable companies in the world.