Xiaohongshu Plans Hong Kong IPO with Target Valuation Over $70 Billion

News Editor

2026-06-22 12:01:46

According to The Wall Street Journal, Xiaohongshu, China's lifestyle and video sharing platform, is preparing for a Hong Kong IPO as early as the end of this year, with major investors seeking a valuation above $70 billion. The company expects net profit to exceed $3 billion this year.

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According to a report by The Wall Street Journal on June 17, Xiaohongshu, China's lifestyle and video sharing platform, is planning to go public in Hong Kong as early as the end of this year. Major investors are seeking a valuation of over $70 billion for the company, which was valued at more than $50 billion in recent private secondary market transactions.

Founded in 2013 by Mao Wenchao and Qu Fang, Xiaohongshu started as a shopping guide app and has evolved into one of the most influential social media platforms in China. The company is expected to post net profit of more than $3 billion this year.

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