Accel (17.2%) stands to cash out $1.376B, Insight Venture Parnters (16%) $1.28B and Sequoia (10.7%) $856M. The three of them put in a total of only $400M. It’s a big win for every one.
3X. Yes, that magic number that haunted all hardware companies and drove (most lazy) VCs away from investments in hardwares. The market is currently seeing Xiaomi as a pure hardware company. It will take time to see if the market will buy into Lei Jun's "Xiaomi is an internet company" in the future.
… totally different from privately-owned corporates, whether by PE firms (Toys R' Us) or by individuals (Gibson), which have not had its stocks transacted by large volumes for quite a while therefore do not have any sort of signals for the worth of their stocks. This makes financing options purely based on company's financial health, specifically near-to-mid term free cash flow levels.