Xiaomi Plans to Invest in More Than a 100 Start-ups
Chinese electronics giant Xiaomi, which was once a start-up, has now grown to become the third largest consumer electronics firm in the world. It has gained a foothold in its home market as well as the native markets of other renowned electronics titans. The tech major is working towards turning every budding business into an empire.
According to a recent report, Xiaomi is betting on emerging businesses to help them copy the growth model of the company. The CEO of Xiaomi has announced that the company plans to invest in hundred startups to help them financially. This step is in accordance with the earlier move to back 20 startups that has shown productive outcomes.
Lei Jun commented about its plan that Xiaomi’s strategy is to enable the company into an “ecosystem empire” with major focus on software firms. He further stated –
We plan to move full steam ahead in its quest to become an ecosystem empire.
Investing in software firms would help Xiaomi link anything; consequentially aiding its product portfolio expansion.
Recently Xiaomi’s backed robotics manufacturer Ninebot acquired Segway. The buyout seized the attention of the industry-watchers as a small industry is expanding rapidly, but more than that, it was a call for big celebration for Xiaomi. Late last year, Xiaomi became the world’s most valuable technology start-up after gaining $1.1 billion from investors.
Xiaomi has made use of its small associates and has launched a bunch of smart products such as air purifiers, smart bulbs, smart televisions, etc. With its new approach to software firms, we may soon hear of some unconventional innovations amongst their smartphones.