Chinese language way of life sharing social media platform Xiaohongshu has pushed aside as “untrue information” studies by means of native media outlet IPOzaozhidao that it’s in the course of a unused spherical of fundraising that values the corporate at $20 billion. A prior file by means of tech outlet The Data in September 2023 mentioned Sequoia China had got a Xiaohongshu stake from present traders, in a do business in that valued the company at $14 billion, a 30% cut price in comparison to the social media app’s $20 billion valuation in 2021. The walk noticed the leading challenge capital company tied Alibaba and Tencent in having a bet on Xiaohongshu’s possibilities. The social app, now frequent amongst more youthful customers with its seek serve as and sharing options, has stepped up its efforts in e-commerce and promoting services and products to spice up revenues in contemporary months. [IPOzaozhidao; Shanghai Securities News, in Chinese]
