The valuation on the recent financing for Xiaomi got a lot of attention. Here are some facts.
Upstart Chinese smartphone maker Xiaomi made some waves recently as its $1.1 Billion funding valued it at over $46 billion. The Wall Street Journal proclaimed that this made it the world’s most valuable startup, more than Uber and short of only Facebook’s 2011 private funding.
In four short years, it has 500 milion users. Yahoo Finance reports that its revenue more than doubled to $12 billion in 2014, selling 61 million phones in 2014. Its margins are very thin as it expands, and it expects the Chinese smartphone market to ease in 2015. Apparently, Xiaomi CEO, Lei Jun, announced these numbers on some sort of Chinese Twitter, or “his official microblog account.”
In contrast, Apple sold 169 million iPhones and 68 million iPads in fiscal 2014.