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Chinese smartphone giant Xiaomi is looking to IPO in 2018

Chinese smartphone giant Xiaomi is looking to IPO in 2018
[Photo: Photo by VCG/VCG via Getty Images]

The smartphone maker has asked banks to pitch them to lead the company’s IPO by Friday, reports Reuters. Sources that spoke to Reuters said it’s possible the Xiaomi IPO could be the “largest technology IPO” in history, with a possible valuation of $100 billion. To put that in perspective, back in 2014 Xiaomi was valued at around $46 billion. The company has recently overtaken Apple to become China’s fourth-largest smartphone maker by sales.MG