A few days ago, Lei Jun’s head of the Xiaomi group gave the 2022 edition of his annual speech.

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During the speech, he detailed a lot of the company’s plans for the future and also worked to demystify some rumors.

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The chairman recounted how he accumulated experience from Kingsoft WPS and Pangu Software, lost to Microsoft in 1996,

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Lei Jun clarified that there was no such thing as someone on the Internet saying that Tencent QQ asked him to see acquisitions.

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He clarified that “Ma Yun and Ma Huateng asked him to invest in the Alibaba group.

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At that time, NetEase had just one year of existence and was a hosting state for personal websites.

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Lei Jun offered 10 million Yuan to acquire it, however, Ding Lei refused. Since then, NetEase raised from a $10 million valuation to $500 million which left Lei Jun shocked.

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Back in 2020, Joyo.com was officially launched. Lei Jun decided to build an online book and audio-visual store.

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