- Lei Jun is chairman of Xiaomi as well as Shunwei Capital
- Xiaomi has expanded itself into service and non-handset business aggressively
- Work India is a blue collar recruitment platform
Xiaomi has invested Rs 42 crore in WorkIndia. The latter, a blue collar recruitment platform, claims to have 1.5 crore registered job seekers and 2.1 crore unique app sessions per month. It is present in 763 cities across India.
It is to be noted here that Xiaomi has been expanding its portfolio in verticals beyond consumer electronics aggressively. The company had launched Mi credit service in India last year.
“Brands understand that staying at the top now requires to go beyond the conventional methods of doing business. Be it a brand from China, India, Japan or Korea, consumers now prefer ones that value their experience. This battle of value-added services is going to get stiffer in the future. Moreover, we might see more brands following Xiaomi and Samsung suite in 2020,” Himanshu Jain, senior analyst, International Data Corporation (IDC), had told EFY recently.
Lei Jun is chairman Xiaomi and Shunwei Capital
Lei Jun who is the chairman of Xiaomi, also holds the same position in Shunwei Capital. Interestingly, Shunwei Capital was founded by Koh Tuck Lye and Lei Jun together. Recently, it had led a $5.5 million investment round in regional language podcast app Kuku FM. As a matter of fact Shunwei Capital manages assets of about $3 billion.
Shunwei Capital also invested in Zomato, Meesho, ShareChat and Rapido in the past. Xiaomi, on the other hand, has invested in Zest Money, Sharechat and Touch Talent in the past.