Last month, Mark Zuckerberg headed to China to meet with government officials and even give an interview in Chinese, but behind the scenes the Facebook CEO may have attempted to broker a deal with one of the country’s biggest mobile players. Reuters reports that Facebook and Xiaomi met to discuss a possible investment and partnership, though for now nothing seems to have come of the discussion.
A deal between the two companies could be mutually beneficial as both look to expand. Facebook is still banned in China, while Xiaomi appears ready to spread beyond its home country. But a private dinner between Zuckerberg and Xiaomi CEO Lei Jun failed to turn into an official deal. Soon afterward, the Chinese company announced a new $1.1 billion round of funding, raising its valuation to a whopping $45 billion.
Reuters suggests that Xiaomi may have rejected a small investment offer from Facebook, though it’s unclear exactly why. It’s possible the phone-maker wants to avoid any possible issues with the local government, or it may be worried about what a deal with Zuckerberg could do to its relationship with Google. Either way, it looks like the two companies haven’t teamed up for now, though it’s certainly possible we still could see a partnership take form in the future.