Xiaomi leads $310 million investment into Xunlei.
A Chinese video streaming site and media portal, named Xunleei, has announced today that it has managed to secure over $310 million in financial funding. Xiaomi, the increasingly popular startup phone maker, which has set there goals to be a selling point of over 60 million phones for this year, has gained a total of $200 million.
One of the biggest chunk for this round for Xunlei, came from the software company known as Kingsoft, which had invested over $90 million, while other investors such as IDG and Morningside Ventures dropping the remaining $20 million.
This has been Xiaomi’s biggest investment to be ever been made from another firm. Besides its Xiaomi phones, the company has an Android-based smart TV OS that launches in its Xiaomi MiTV and set-top box. While there are no official wording on this at the moment, Xiaomi’ stake with Xunlet could give its TV-based devices a better shot in the race.
Xunlei’s Television application for video streaming has ran on non-smart Television through the use of set-top box. Xiaomi main goals are to sell 100 million phones by the time 2015 rolls around, and that a mighty fine order when it equals to Lenovo. Xunlei’s video streaming site, which is reminiscent to that of Hulu, named Kankan, which currently is filled with mostly licensed TV shows and movies. But Xunlei is still quite infamous for its P2p Bittorrenting software, which is currently still running. The mass pirated content on Xunlei was one of the main reason why their IPO had failed to making through back in 2011
Xunlei had previously ran one of China’s biggest pirating search engine, but was shut down during the beginning of last year as the firm began to clean up their act.