Chinese smart hardware and internet service provider Xiaomi revealed further details for its ambitious US$1 billion digital content plan released last week.

The burgeoning startup announced a strategic partnership with Youku Todou, one of China’s largest internet companies. It plans to acquire the latter’s circulating shares with eight-digit US dollar investment for the development of a multi-screen media and entertainment ecosystem.

Xiaomi’s founder, chairman and CEO Lei Jun named this partnership as the inaugural project for Chen Tong, VP of content investment and content operation. Chen joined Xiaomi last week having previously served as Sina’s editor-in-chief and Executive Vice President, and is spearheading Xiaomi’s efforts in video content with Wang Chuan, a Xiaomi co-founder and VP.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.