Ratan Tata, the former chairman of Tata
Group, has once again caught media headline after acquiring stocks in the
Chinese smartphone manufacturer company, Xiaomi. He has become the first Indian
to invest in Xiaomi. The investment was announced by Xiaomi, but the company
did not reveal the amount. The investment was in Xiaomi’s global business.
It was his ninth
investment since March last year. Other eight companies where he invested
are Snapdeal.Com, Urban Ladder, Bluestone, CarDekho.Com, Swasth India, PayTm, Grameen
Capital and Altaeros Energies. With this latest investment, Tata now has
covered almost all sections of online services- payments, automobiles,
furniture, jewellery, apparel, and mobile phones.
Xiaomi, which was set up in April 2010,
is considered as one of the world’s most valuable start-up companies. It has
raised $1.1 billion fund in December. It has also got investments from global
funds like Singapore’s sovereign wealth fund, GIC, All-Stars Investment and
Yuri Milner’s DST Global.
The five year old company is estimated
to be worth $45 billion. Now, the company’s evaluation is three times more than
that of personal computer maker, Lenovo. Since its launch in India in July last
year, it has become the fifth largest smartphone maker in the country.
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