Rumor: Xiaomi to Take Stake in iQiyi, Youku Tudou

Huxiu, 11/10/14

According to an industry source, Beijing-based Android device maker Xiaomi is considering taking a stake in Chinese internet firm Baidu's (Nasdaq: BIDU) online video subsidiary iQiyi and online video site operator Youku Tudou (NYSE: YOKU). Although the specifics of the investments are unknown, it is expected that Xiaomi will invest a RMB 9-digit figure to become the second largest stakeholder in iQiyi and a RMB 8-digit figure in Youku Tudou. With the injection of capital, Xiaomi will form a close partnership with iQiyi and Youku Tudou relating to video content.

A partnership with iQiyi and Youku Tudou will reportedly allow Xiaomi to gain access to video content from the two companies to broadcast on its internet TV set-top box and smart TV products. The agreement will see Xiaomi leverage iQiyi and Youku Tudou's respective partnerships with CNR New Media and Guo Guang Oriental Network, who both hold internet TV broadcast licenses.

Keywords: content television online video Youku Tudou Baidu Internet TV set-top box BIDU YOKU Xiaomi smart TV iQiyi Internet

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