| It was recently reported that Chinese smartphone company Xiaomi, once dubbed the “Apple of the East”, has lost US$40 billion in value over a period of 18 months. In Dec 2014, Xiaomi announced a funding round of US$1.1 billion giving it a valuation of US$45 billion. In the US$45 billion round, it wasreported that investors included the Singapore sovereign wealth fund GIC, which is tasked to manage Singapore’s reserves.
GIC’s investment in Xiaomi comes after Temasek purchased a small stake in the smartphone maker in an earlier funding exercise. It was also reported that Temasek had gone on an investment spree together with Xiaomi and its founder Lei Jun, to invest in dozens of firms across China’s mobile internet eco-system...............................................Full Article: Source
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