TechFlow reported on June 17 that Xiaohongshu, the Chinese lifestyle and video-sharing platform, is planning a Hong Kong listing as early as the end of this year, citing The Wall Street Journal. The report said the company’s major investors are seeking to set its valuation at more than $70 billion.
The valuation target follows recent private secondary-market transactions in which Xiaohongshu was valued at more than $50 billion. A Hong Kong IPO, if advanced according to the reported timetable, would place the company’s public-market ambitions above the level reflected in those recent private trades.
Xiaohongshu was founded in 2013 by Mao Wenchao and Qu Fang. It began as a shopping-guide app and has since developed into one of China’s most influential social media platforms. The report also stated that the company is expected to generate more than $3 billion in net profit this year.