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Why XiaoMi Raised $35millions, Because Lei Jun Also Wants a Real Phone
Xiaomi is an iPhone/Android development company invested by Lei Jun, the board chairman of UCWeb, the leading Chinese mobile browser; ex-executive director of Kingsoft; co-founder of Joyo.com which is sold to Amazon at 2004. We used to report that,
Xiaomi has raised another round of $35million from Morningside Venture and Qiming Venture partner. The valuation of Xiaomi is reported at $200million.
$200million valuation?! Seriously, as an iPhone/Android development company, Xiaomi is able to attract that much of attention and money, which sounds insane. I could not get it, until yesterday two friends both confirmed with me, Xiaomi is not just about designing mobile applications, but designing a phone, I mean a real phone.
Looking at Lei Jun’s recent investment, I am totally impressed,
- UCWeb – the leading Mobile browser (our previous coverage);
- Xiaomi – one of the most promising iPhone/Android development company which already released several applications including Xiaomi Reader (iBooks like) and Miliao (a copycat of Kik);
- MIUI – Android-based mobile OS;
- Xiaomi Phone?!
So Lei Jun has the mobile operating system, the browser and the applications, once there is a nice phone, he actually is able to reach all the important sectors in future’s mobile phone industry. Smart!
The rumor says that the phone will come into the market in Q3, 2011. Is Lei Jun building a Chinese Apple?