Chinese smartphone maker Xiaomi is negotiating a capital raise of $US1.5 billion ($A1.75 billion), at a valuation of $US40 billion, in the largest private financing for a venture-backed company since Facebook in 2011.
The company is speaking with investors including DST – the Russian internet company that also backed Alibaba, Facebook and Airbnb, with a deal yet to be finalised, sources told CNBC.
Both Wall Street and Silicon Valley investors are largely uninvolved in the Xiaomi raise, instead the company is hoping to secure funds from Asia-based investors.
Uber seeking to raise $1 billion at a valuation over $17 billion
Transportation network startup Uber is in early talks with investors about raising $1 billion in new capital, the Financial Times reports.
The talks come less than six months after Uber received $1.2 billion in funding at a valuation of $17 billion. After strong interest from investors, the company is looking to take the opportunity to build a balance sheet “proportionate” to the scale of its business, a source told the Financial Times.
Microsoft completes Minecraft purchase
Microsoft has completed its $2.5 billion acquisition of Minecraft developer Mojang, the head of Microsoft’s Xbox Division Phil Spencer says.
Spencer had previously confirmed that although Microsoft was making Mojang a first-party developer, it had no intention of forcing a halt to Minecraft development on any non-Microsoft platforms.
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