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Xiaomi Stake Said to Value IQiyi at Up to $3 Billion

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Xiaomi Corp.’s investment in Baidu Inc.’s IQiyi.com values the Chinese video website at $2 billion to $3 billion, according to people familiar with the matter.

Xiaomi and Shunwei Capital’s $300 million investment is for about 10 percent to 15 percent of the site, the people said, asking not to be identified because the details are private. Baidu will invest an additional $100 million and hold about 80 percent, the people said.