According to the Wall Street Journal, Chinese lifestyle and video-sharing platform Xiaohongshu plans to list in Hong Kong by the end of this year, with major investors seeking a valuation of over $70 billion. Founded by Mao Wenchao and Qu Fang in 2013, the company has grown into one of China's most influential social media platforms and is expected to post a net profit exceeding $3 billion this year.
Chinese lifestyle and video-sharing platform Xiaohongshu (also known as Little Red Book) is planning an initial public offering in Hong Kong as early as the end of this year, according to a Wall Street Journal report on June 17. Major investors are seeking to value the company at over $70 billion, a premium over the more than $50 billion valuation it commanded in recent private secondary market transactions.
Founded by Mao Wenchao and Qu Fang in 2013, Xiaohongshu started as a shopping guide app and has evolved into one of China's most influential social media platforms, known for user-generated content, product recommendations, and short videos. The platform enjoys strong popularity among young consumers. The report also indicated that Xiaohongshu expects to generate a net profit exceeding $3 billion this year, reflecting its robust commercial performance.
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