Xiaomi Raising Over $1 Billion

Xiaomi is fast becoming the most interesting smartphone maker in the world, already the third largest smartphone seller with 19 million units sold this year. Even with the millions of smartphone sales, Xiaomi is still looking for private funding, instead of making its company publicly available on the stock market.

In a recent round of funding, Xiaomi apparently raised over $1 billion, valued at $45 billion. This is a huge valuation, $10 billion more than the previous round of funding around the same time last year.