
Xiaomi is about to become a $40 billion company. Photo: Xiaomi
Thanks to its cheap, Apple-esque devices, Xiaomi has quickly become the world’s third-largest smartphone supplier. Now all that copying is about to pay off big time: The Chinese startup is raising $1.5 billion in capital, the largest private financing deal since Facebook in 2011.
Negotiations haven’t been finalized, but investors include Russian Internet company DST — which backed Facebook, Airbnb and Alibaba — with a valuation expected to top $40 billion, CNBC reports.




