Baidu's Xiaodu unit closes Series B financing at USD 5.1 bln valuation

News Broadband China 25 AUG 2021
Baidu's Xiaodu unit closes Series B financing at USD 5.1 bln valuation

Baidu has announced that its Xiaodu Technology unit has closed a Series B financing at a USD 5.1 billion post-money valuation. The digital voice assistant Xiaodu leverages Baidu's AI and large content and services mobile ecosystem, “to change the way hardware provides value for consumers”, Baidu said. Xiaodu entered the market in 2018 with sub-CNY 100 smart speakers.

Services revenue surpassed 10 percent of Xiaodu revenues in the most recent quarter, encompassing membership, advertising and skills store revenue share, the company added.

Baidu remains a super majority shareholder after the transaction. Xiaodu Series A was completed in November 2020 at a post-money valuation of USD 2.9 billion.

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Internet

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Baidu

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China

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Consumer devices, Financial funding

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