Xiaomi Technology Co Ltd and other Chinese companies have joined a $40 million investment in U.S. wearables startup Misfit, the first time the world's third-biggest smartphone manufacturer has taken a stake in a U.S. mobile-device maker. Misfit, which claims to make the biggest-selling activity and sleep tracker in China, said on Tuesday it has raised new financing from Xiaomi, e-commerce company JD.com Inc, and venture-capital firms GGV Capital and Shunwei.GGV partner Hans Tung will join Misfit's board of directors. Shunwei partner Tuck Koh will become a board observer. Both are Xiaomi investors.Misfit, best known for its activity tracker Shine, is the latest startup to gravitate toward Xiaomi, which has been seeking to build a hardware ecosystem that extends beyond its smartphones and into wearable technology and home appliances.Xiaomi has built ties with a litany of Chinese gadget makers through investments or strategic partnerships. But the deal with Misfit would be the first instance of the company investing in a U.S.-based wearables company as it pursues its ambition of becoming a global brand like Apple Inc.
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL traded higher by 0.25% or $0.2879/share to $115.36. In the past year, the shares have traded as low as $70.51 and as high as $119.75. On average, 59248600 shares of AAPL exchange hands on a given day and today's volume is recorded at 42076000.
JD.com, Inc. is a holding company. The Company is an online direct sales company. Shares of JD traded higher by 9.06% or $1.99/share to $23.96. In the past year, the shares have traded as low as $19.94 and as high as $33.10. On average, 4980510 shares of JD exchange hands on a given day and today's volume is recorded at 6725798.
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