Comment on Xiaomi and Shunwei Invest US$300M in Baidu’s Video Site iQiyi by Blobbyyy

['Tracey Xiang', 'More Tracey Xiang', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-11-19 00:00:00

Xiaomi, the Chinese smart device and internet service company, and Shunwei, a China-focused venture capital fund with Xiaomi CEO Lei Jun as founding partner and chairman, have invested RMB1.6 billion (just over US$300 million) in iQiyi, the online video business majority-owned by Baidu, Xiaomi announced today. This deal represents the largest investment made in the four-year history of Xiaomi this far. Baidu also has increased its stake in iQiyi and is still the majority shareholder. Earlier this month Xiaomi announced plans to invest US$1 billion or online video and other digital contents. Besides the iQiyi deal, it has also bought shares in Youku Tudou, the leading Chinese video website.