A few days ago, Lei Jun’s head of the Xiaomi group gave the 2022 edition of his annual speech.
During the speech, he detailed a lot of the company’s plans for the future and also worked to demystify some rumors.
The chairman recounted how he accumulated experience from Kingsoft WPS and Pangu Software, lost to Microsoft in 1996,
Lei Jun clarified that there was no such thing as someone on the Internet saying that Tencent QQ asked him to see acquisitions.
He clarified that “Ma Yun and Ma Huateng asked him to invest in the Alibaba group.
At that time, NetEase had just one year of existence and was a hosting state for personal websites.
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.
Back in 2020, Joyo.com was officially launched. Lei Jun decided to build an online book and audio-visual store.