Xiaomi last raised money in 2014 at a $46 billion valuation. Xiaomi last raised money in 2014 at a $46 billion valuation. A successful IPO may bring it at least $5 billion, much-needed ammunition for expansion, the people said. Founded in 2010, Xiaomi, or Little Rice, made its mark with buzzy online marketing campaigns, eschewing traditional retail stores. Xiaomi is making a major push into old-fashioned retail: it plans to build 1,000 “Mi Home” stores by 2019—about twice Apple’s global store count—targeting 70 billion yuan ($10 billion) of retail sales by 2021.

Source: Mint December 04, 2017 09:45 UTC