Xiaohongshu is a content-driven social commerce platform built around user "notes", lifestyle search and peer recommendations. The company says its model shapes consumer decisions prior to transactions and has driven rapid user growth. In 2023 Xiaohongshu reported monthly active users up 20% year‑over‑year to 312 million, revenue up 85% to $3.7 billion and net profit of $500 million. In 2022 the company reported about $2 billion revenue and a $200 million loss, marking a turnaround in 2023 to profitability. Xiaohongshu was founded in 2013 and early investors include ZhenFund, GSR Ventures (金沙江创投), Temasek (淡马锡), Tiantu Investment (天图投资) and Yuan Sheng Capital (元生资本). The company has repeatedly been linked to IPO plans in the U.S. and Hong Kong, but has given no confirmed listing timetable. Xiaohongshu operates a social e-commerce platform that allows users to post product reviews and share shopping experiences. The company recently completed a new financing round that reportedly involved existing shareholders increasing their stakes. A source said the round raised $500 million and valued the company as much as $20 billion. Xiaohongshu declined to comment on the figures or the investors. Earlier this month Chinese regulators ordered the app to rectify what they called an excessive collection of personal information. A company spokesperson thanked shareholders for their long-standing trust and continued support.

Total raised

$500M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2021