Remember Lei Jun? China's version of Steve Jobs? He's the CEO of Xiaomi and they are now valued at $10 billion thanks to a round of funding according to a report. The report however doesn't say how much the company raised.

Xiaomi has a large fan base and it largely copies from Apple's marketing playbook. They mostly make normal looking Android phones and sell them at steep discounts. Most of their flagship models usually sell out within minutes of their online launches.