This research was structured using the intrinsic case study methodology. The investigator intended to evaluate and highlight not only the elements that were part of Xiaomi s initial business model, running from 2010 to 2011, but mainly to present the company s business model evolution over the last ten years (2011-2020). For this, two sections of the Business Model Generation theory, written by Osterwalder and Pigneur (2011), were used. It is important to point out that both the first section, named Canvas, and the second, called Business Model Patterns, are highly widespread. At last, considering that Xiaomi was able to achieve an overwhelming number of accomplishments since its born, as the 30th position in the 100 most scalable organizations in the world ranking (OPENEXO, 2020), for instance, it was decided that this enterprise would be a suitable object of study.