Xiaomi, Shunwei to invest $300m in Baidu-controlled iQiyi
Chinese smart phone maker Xiaomi and Shunwei Capital – a VC firm set up by Xiaomi co-founder and super angel investor Lei Jun – will invest $300 million in iQiyi, a video platform owned by Baidu.
The announcement comes after Xiaomi unveiled plans to invest $1 billion in digital content, with online video a particular target. This would expand the company's commercial ecosystem, which currently...
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