Song Jingli

Xiaomi will become Dongyi Risheng’s second major shareholder.

Founded in 2015, Fourier sells physical rehabilitation equipment and robots to hospitals, rehabilitation centers, and research institutes.

The company will use new funds to build e-sports facilities and roll out short video e-sports content, among other initiatives.

The move comes months after Alibaba announced a USD 1.5 billion investment plan to strengthen the AI and Internet-of-Things (AIoT) ecosystem around its smart speaker Tmall Genie.

The sale will generate nearly USD 2 billion in net proceeds, half of the USD 4 billion the company raised in its IPO in September 2018.

Before the livestreaming event was announced, Baidu’s shopping channel, which launched quietly in the last month, only offered a limited range of products.

In the USD 4.4 trillion real estate transaction market, Zhuge is competing with companies such as US-listed Beike and 5i5j.

Following this round, the company plans to expand its 24-hour medicine delivery service to more cities in China.