Xiaomi IPO set to make millionaires of 56 early employees

Xiaomi IPO set to make millionaires of 56 early employees

Xiaomi co-founder Lei Jun. Photographer: Dhiraj Singh/Bloomberg

Eight years ago, before China’s Xiaomi Corp. had sold a single smartphone, 56 of the earliest employees pulled together $11 million to invest in the startup. Rank-and-file workers dipped into savings and borrowed from parents. One receptionist tapped her dowry.

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