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Apple Copycat Xiaomi Raises $1.1 Billion at $45 Billion Valuation

Posted on the 30 December 2014 by Nrjperera @nrjperera

Samsung has just got competition, but it’s not from LG or Nokia, this time it’s from the Chinese smartphone maker Xiaomi, which is well-known among the clone world for ripping off Apple.

Apparently,  Xiaomi has successfully raised US$1.1 billion in its last round of funding at valuation of US$45 billion, making them the world’s most valuable tech startup. Bin Lin, co-founder at Xiaomi announced the news via his Facebook account with the promise of unveiling their next flagship in January 2015. Mark Zuckerberg has also dropped by his post to congratulate on the achievement.

“We just completed the latest round of funding last week, raising US$1.1 billion at valuation of US$45 billion. Investors include All-Stars Investment, DST, GIC, Hopu Fund and Yunfeng Capital among others,” said Lin.

Read Also: 38-Year-Old Apple-1 Computer Auctioned for $905,000

Who says you need to be unique and create your own ideas to be successful. If you do it right, even copying someone else can bring in billions of dollars. Although, Apple’s Jony Ive is not going to be happy about this.

[Via: BBC / Facebook ]
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