Xiaomi aims to raise $5 Billion for an upcoming IPO at $50 Billion valuation
Back in 2014, Xiaomi was valued at peak $46 Billion and aimed to reach $100 Billion in two years. But as admitted by the CEO Jei Lun, Xiaomi tried to do too many things at a time and failed to keep up with Huawei and Oppo. The company even fell to fifth place from No.1 in just a year.
In 2017, Xiaomi changed strategies and started to look in offline territories too. The company’s Redmi line of smartphones proved quite popular in India and even helped Xiaomi to rival Samsung for No.1 spot.
Unlike 2014, Xiaomi wants to capture the ongoing momentum and is seeking to raise $5 Billion from the Investment banks. Bloomberg reports that Xiaomi is looking at a $50 Billion valuation in an upcoming IPO in Hong-Kong. The report also suggests the second half of 2018 for a possible IPO.