The world's third largest smart phone maker Xiaomi Inc., backed by venture and private equity investors, says it has invested RMB1.8 billion (US$290 million) in Chinese video site iQiyi.com Inc, according to Xiaomi's official Weibo account. Shunwei Capital, a US$200 million China-focused venture capital fund founded by Xiaomi's founder Lei Jun in 2011, also participated […]

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