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Maroc Maroc - THECEKODOK.COM - A La Une - 16/Jan 23:09

Xiaohongshu Reportedly Valued at Around $20 Billion

Xiaohongshu or also known as “RedNote” is one of the popular applications among the Chinese-speaking community, including in Malaysia. In fact, this week it has also been in the spotlight because many US users have tried the Xiaohongshu application due to the situation of TikTok being banned.Recently, Bloomberg reported that Xiaohongshu’s largest shareholders are currently in talks to sell some of their holdings, valued at around $20 billion. Among the parties said to be interested are Tencent, as well as several other companies.It is said that it is still in the early stages of discussions, and there is a possibility that shareholders will not sell their holdings due to the TikTok situation that is profitable for Xiaohongshu – thus possibly leading to a higher value.Xiaohongshu was previously started in 2013 by offering a number of guides to tourists. Now, it has around 300 active users. Bytedance itself is ready to try a similar offering through Lemon8, but it is still less popular compared to TikTok.

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