Xiaomi And Shunwei Capital Make $300M Strategic Investment In iQiyi, One Of China’s Largest Online Video Platforms

Xiaomi, which announced earlier this month that it plans to invest $1 billion in online video content, has been very busy spending that money. The hardware maker confirmed today that it and Shunwei Capital have together made a $300 million strategic investment in iQiyi, the video platform that is majority-owned by Baidu, China’s largest search company. Xiaomi said that this is its largest investment to date. Baidu also said that it had increased its investment in iQiyi, though it did not specify the amount.

The investment follows Xiaomi’s strategic partnership earlier this month with Youku-Tudou, the value of which was undisclosed. Youku-Tudou says its monthly user base is now more than 500 million, with daily video views surpassing 800 million.

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