Xiaomi Technology Co Ltd said on Wednesday it has made $300 million investment in online video provider iQiyi.
The investment in iQiyi followed a separate stake purchase deal Xiaomi announced last week in China's largest video streaming site Youku Tudou Inc.
Xiaomi earlier this month pledged to invest a total of $1 billion to expand its Internet TV content, adding to the frenzy in China's fast-growing online video market.
Cadwalader Wickersham & Taft, Beijing Sunland Law Firm, Goodwin Procter and Skadden, Arps, Slate, Meagher & Flom have scored key advisory roles in a $ 1.1 billion investment in China’s Smartphone maker Xiaomi Corp by a number of investors.
Paul Hastings has represented Singapore fund manager Alpha Investment Partners on its agreement to sell the 80 percent stake it holds, along with Keppel Land China, in a firm that owns a mixed-used development in Shanghai for $516.9 million.
The deal is Alibaba’s third investment in a Chinese courier company after it bought minority stakes in YTO Express Group Co and Best Inc.