Baidu Capital led a Series B round in Xiaodu at a $5.1bn valuation.

Baidu Capital, a corporate investment platform, led a Series B round in Xiaodu, a voice assistant system at a $5.1bn valuation. "We are pleased to see the rapid growth of Xiaodu, leveraging Baidu's AI and large content and services mobile ecosystem, to change the way hardware provides value for consumers. Xiaodu entered the market in 2018 with sub RMB100 ($15) smart speakers and rapidly became the world's largest smart-display provider based on shipments. DuerOS with voice modality and larger screen is growing Internet usage at home and becoming the command center for IoTs, with its fast growth of OEM partnerships. Services revenue surpassed 10% of Xiaodu revenues in the most recent quarter, encompassing membership, advertising and skills store revenue share," Herman Yu, Baidu CSO and CFO.