Baidu, Alibaba and Tencent are in the fierce competition in mobile map navigation field, now Lei Jun , the Chairman and CEO of Xiaomi Technology also intends to join the battle, but his plan is to invest in navigation service company Careland. Careland mainly provides navigation electronic maps, navigation software, smart hardware devices and car networking services for automobile drivers.
On October 9th, Careland disclosed its additional orientation program and expected to raise funds of CNY 84 million, the program is issued for subsidiaries of Xiaomi Technology, and the legal representatives are Lei Jun. Careland said, the purpose of this stock issuance is to introduce strategic investors to promote the car networking business and for large-scale expansion of the mobile Internet business in the future.
Baidu, Alibaba and Tencent have occupied the majority of mobile map market, but Lei Jun has a huge user group of Xiaomi mobile phone, if he wants to popularize Careland’s navigation application by this, this may probably reach a win-win situation.