|Xiaomi released its first smartphone in August 2011 and has rapidly gained market share in China to become China's largest smartphone company in 2014. As of 2017 Xiaomi is the world's 5th largest smartphone company. Xiaomi has expanded into developing a wider range of consumer electronics, including a smart home (IoT) device ecosystem.Xiaomi has 15,000 employees in China, India, Malaysia, Singapore and is expanding to other countries such as Indonesia, the Philippines and South Africa. Lei Jun, the founder and CEO, has an estimated net worth of US$6.8 billion. He is China's 24th richest person in 2017. Xiaomi is the world's 4th most valuable technology start-up after it received US$1.1 billion funding from investors, making Xiaomi's valuation more than US$46 billion|
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