Xiaomi, which announced earlier this month that it plans to invest $1 billion in online video content, has been very busy spending that money. The hardware maker confirmed today that it and Shunwei Capital have together made a $300 million strategic investment in iQiyi, the video platform that is majority-owned by Baidu, China’s largest search company. Baidu also said that it had increased its investment in iQiyi, though it did not specify the amount.
The investment follows Xiaomi’s strategic partnership earlier this month with Youku-Tudou, the value of which was undisclosed. Youku-Tudou says its monthly user base is now more than 500 million, with daily video views surpassing 800 million.
For Xiaomi, partnering with iQiyi, which like Youku-Tudou is one of China’s largest online video platforms, means that it will have more content to provide as it tries to entice more users into its multi-screen ecosystem…
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