We recently spotted a Xiaomi Youpin account on Indiegogo (IGG) which looked like the official account of Xiaomi’s crowdfunding platform. The Indiegogo account had two crowdfunding projects; one for the Oclean X touchscreen toothbrush and another for the WalkingPad R1 Pro mini treadmill. Turns out the Indiegogo account is for real as Xiaomi and IGG have officially announced a strategic partnership.
This was announced during a Xiaomi Youpin media communication conference held in Beijing. The Chinese giant announced that it had reached strategic cooperation with Indiegogo (IGG), one of the largest overseas crowdfunding platforms. The two parties will support product exchange and traffic support as well as market co-construction.
Zhao Xinran, deputy general manager of Xiaomi Youpin, said that by joining forces with Indiegogo, Xiaomi Youpin can bring new foreign technology to Chinese consumers. In the same vein, Xiaomi Youpin can also showcase domestic Chinese brands and outstanding projects from China to the world.
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Indiegogo was founded in 2008 and is headquartered in San Francisco. It is one of the earliest crowdfunding platforms in the United States. The official website shows that the platform has 10 million monthly active users from 235 countries and regions around the world, and 19,000 crowdfunding projects are launched each month. Since 2016, Indiegogo has started helping Chinese brands go overseas.
Lian Lin, the head of Xiaomi Youpin’s overseas business, said that overseas crowdfunding is the first step for Xiaomi Youpin to choose to cross the border, and it is also a channel to accumulate the first batch of “seed users” overseas. As part of the strategic cooperation, Indiegogo will give Xiaomi Youpin crowdfunding global exclusive resources, such as product definition, product operation, traffic supply, new project creation, etc. Xiaomi Youpin will use the advantages of aggregation to integrate resources, coordinate and lead overseas crowdfunding projects, and provide enterprises with one-stop brand overseas services.
As of December 22, the WalkingPad R1 Pro has had 3,138 supporters and received $9.9 million HKD (USD $1.27 million) in support. On the other hand, the Oclean X IGG crowdfunding has received 5828 backers with over 2.5 million HKD ($325K USD) raised.
About Xiaomi Youpin
Xiaomi Youpin is a boutique lifestyle e-commerce platform owned by Xiaomi. It was formerly an e-commerce portal of the Mijia App. It mainly sells hardware peripheral products to users. It became an independent app in April 2017. Xiaomi Youpin is an important part of Xiaomi’s Internet business. It aims to use the Xiaomi model for consumer goods. At present, the platform already includes 17 categories such as smart home appliances, daily household appliances, food and beverage, and more than 6000 products are on sale. In August this year, Xiaomi Youpin launched the Haigou channel and began to introduce foreign products into the domestic Chinese market.
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