Forbes: The Chinese electronics manufacturer is looking to raise funding that could value the company at more than $40 billion.
Forbes: The Chinese electronics manufacturer is looking to raise funding that could value the company at more than $40 billion.
Multiple sources confirmed to FORBES that the Beijing company is considering raising more money and possibly quadrupling its previous valuation of $10 billion, which it attained after an undisclosed amount of funding in August of last year. Prior to that Xiaomi, founded in 2010, had raised $216 million in June 2014 at $4 billion.
If Xiaomi is able to raise money at a valuation of $40 billion or higher, it would become the world’s most valuable private technology company and rank among the most valuable device manufacturers. At that amount, the company would be worth more than Sony, which has a market capitalization of $19.5 billion, and almost three times as much as the world’s third-largest smartphone maker Lenovo, which has a market value of $15.6 billion.
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