Xiaomi Closes New Round Of Financing With $10B Valuation

Lei Jun, founder and CEO of Chinese smartphone maker Xiaomi, disclosed on Sina’s Weibo that the company had closed a new round of financing.

Lei Jun confirmed that the latest round values his Beijing-based company at US$10 billion. The details of the round including the participating investors are not disclosed.

In June 2012, Xiaomi raised US$216 million, valuing the company at US$4 billion.

The company sold 7.19 million smartphones and had RMB12.65 billion ($2.07 billion) of revenues in 2012, according to its website.

Temasek Holdings Pte and Qiming Venture Partners are Xiaomi’s early investors.

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