Move over Uber. The Chinese smartphone maker Xiaomi has confirmed it has raised a USD1.1 billion round at a pre-money valuation of USD45 billion, reportedly making it the most valuable tech start-up in the world.
Uber has previously been valued at USD40 billion.
Investors in Xiaomi’s latest round include All-Star Investment, DST, GIC Hopu Fund, Yunfeng Capital and others.
(Source: CNBC)