Xiaohongshu Valuation Hits $26 Billion in Boost for Backer GSR

Xiaohongshu Valuation Hits $26 Billion in Boost for Backer GSR

Xiaohongshu’s valuation surged to $26 billion in recent market transactions via a major fund, an unusually fast ascent that underscores how the Chinese social media phenom is making headway against TikTok in the US.

Document: Xiaohongshu, a TikTok alternative known in the US as Rednote, has surged to a $26B valuation based on recent market transactions via a GSR fund

Echo Wong / Bloomberg: Document: Xiaohongshu, a TikTok alternative known in the US as Rednote, has surged to a $26B valuation based on recent market transactions via a GSR fund  —  The startup's price tag emerged through a document from GSR Ventures Management Co. vehicle that showed shares of the fund changing hands.