Xiaomi Prepares For Hong Kong IPO and Secures 7 Cornerstone Investors

Xiaomi CEO Lei Jun and his core management team were present at Xiaomi's roadshow in preparation for its Hong Kong IPO, where Xiaomi is expected to raise $6.11 billion with a valuation ranging between $55 billion to $70 billion.

Earlier, they were able to secure seven cornerstone investors, including Qualcomm, China Mobile, SF Express, China Investment Capital, China National Open Equipment, China Poly Group, and China Merchants Group.

At the roadshow, CEO Lei Jun said that Xiaomi's dream is to be a great company and that while good companies earn profits, great companies earn the hearts and trust of customers.

Xiaomi seeks to be the world leader in IoT and has already over 100 million connected smart devices on their platform. Lei Jun's plan has been to offer low prices on hardware while growing the customer base for their software platform with the goal of being an e-commerce and Internet company, not just a consumer electronics/hardware company. 

Xiaomi plans on continuing to expand on their product categories, including smartphones, smart tv's, laptops, and IoT/lifestyle products. They have also invested in 210 companies, 90 of which work on smart devices. This is all to push towards Xiaomi's goal of growing the Internet services and e-commerce/retail sides of their business and their "Triathlon business model."


Source: https://bit.ly/2JZv3f6


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