Xiaomi and others invested $ 40 million in a fitness startup Misfit
The manufacturer of wearable electronics and fitness software Misfit recently announced that it considers Asia and, in particular, China to be its priority market. And almost immediately a reaction followed - Chinese investors became interested in a promising startup. And recently it became known that the company received $ 40 million of investments from Chinese companies and funds, including GGV Capital, Horizons Ventures, Khosla Ventures and the giant of Chinese smartphone construction, Xiaomi.
As Forbes notes, for Xiaomi, whose founder Lei Jun is often compared to Steve Jobs for his personal qualities and demeanor, this investment plays an important strategic role, being, in fact, the first investment "outing" of the vendor in the United States, where other Chinese giants have invested - Baidu, Alibaba and Tencent.
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However, in the face of such a powerful partner, Misfit acquires the potential of expanding its products to the Chinese market, the volumes of which are almost more than in the aggregate of 35 countries of the world, where Misfit is already successfully selling its products.
The founder of Misfit, Vietnamese Sonny Wu, began his way to success thanks to crowdfunding. In 2013, after the project successfully financed its Shine tracker on Indiegogo, the head of Misift enlisted the support of Silicon Valley authorities Vinod Kosla and Peter Thiel. Prior to its third round of financing in China, the company managed to raise 23 million investments in the United States, 15 of which were attracted during the second round of financing.
Recall that Misfit so far produces two products - waterproof fitness trackers with LED display Shine and Flash, which differ among themselves mainly in the material of the body and the price.
GigaOm notes that Xiaomi investment has another interest. Not so long ago, the company, known for its inexpensive and high-quality smartphones on the Android platform, started developing its own fitness tracker Mi Band, and has already managed to sell more than 1 million of these budget bracelets ($ 14). The bracelet from Misfit Flash costs $ 50, which will make it possible to attract both a low-cost audience and a more money middle class audience when implementing both models.
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As Forbes notes, for Xiaomi, whose founder Lei Jun is often compared to Steve Jobs for his personal qualities and demeanor, this investment plays an important strategic role, being, in fact, the first investment "outing" of the vendor in the United States, where other Chinese giants have invested - Baidu, Alibaba and Tencent.
')
However, in the face of such a powerful partner, Misfit acquires the potential of expanding its products to the Chinese market, the volumes of which are almost more than in the aggregate of 35 countries of the world, where Misfit is already successfully selling its products.
The founder of Misfit, Vietnamese Sonny Wu, began his way to success thanks to crowdfunding. In 2013, after the project successfully financed its Shine tracker on Indiegogo, the head of Misift enlisted the support of Silicon Valley authorities Vinod Kosla and Peter Thiel. Prior to its third round of financing in China, the company managed to raise 23 million investments in the United States, 15 of which were attracted during the second round of financing.
Recall that Misfit so far produces two products - waterproof fitness trackers with LED display Shine and Flash, which differ among themselves mainly in the material of the body and the price.
GigaOm notes that Xiaomi investment has another interest. Not so long ago, the company, known for its inexpensive and high-quality smartphones on the Android platform, started developing its own fitness tracker Mi Band, and has already managed to sell more than 1 million of these budget bracelets ($ 14). The bracelet from Misfit Flash costs $ 50, which will make it possible to attract both a low-cost audience and a more money middle class audience when implementing both models.
This article is written at the request of:
Source: https://habr.com/ru/post/363965/
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