Deep TechFlow News, June 17 – According to the Wall Street Journal, Chinese lifestyle and video-sharing platform Xiaohongshu plans to list 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 recently valued at more than $50 billion in private secondary market transactions.
Xiaohongshu was founded in 2013 by Mao Wenchao and Qu Fang. Originally launched as a shopping guide app, it has evolved into one of China's most influential social media platforms. The company is expected to generate a net profit exceeding $3 billion this year. The planned Hong Kong IPO, if successful, would mark another major Chinese internet company listing in the city.
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