Beijing: Xiaomi Technology Co Ltd said on Wednesday it has made $300 million investment in online video provider iQiyi.
The investment in iQiyi followed a separate stake purchase deal Xiaomi announced last week in China`s largest video streaming site Youku Tudou Inc.
Xiaomi earlier this month pledged to invest a total of $1 billion to expand its Internet TV content, adding to the frenzy in China`s fast-growing online video market.
Zee News App: Read latest news of India and world, bollywood news, business updates, cricket scores, etc. Download the Zee news app now to keep up with daily breaking news and live news event coverage.
