Source: Xiaomi raising a new mega round of funding, passing Uber in valuation again


Pando has heard that Chinese smartphone maker Xiaomi is reportedly raising a new mega round of funding — and if my source is accurate — it’s passing Uber in valuation again. 

The price? As high as $ 60 billion.

If that valuation is accurate, this is a pivotal moment in the global startup landscape for a few reasons. In fact, the fact these negotiations are happening at all makes it a pivotal moment, regardless of the valuation. 

The first reason is kinda comical: Chinese entrepreneurs just keep fucking with Uber. Not only is Didi Kuaidi just about to checkmate Uber’s Chinese domination plans– with its near 80% market share, huge cash trove, WeChat smackdown and, no doubt, more coming– but now a totally different Chinese tech company is reportedly once again taking the top private company valuation spot…

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