Social media firm Xiaohongshu set to start fundraising
The online platform, backed by Tencent and Alibaba, aims to raise about $400m-$500m, said the people
10 January 2020 - 10:45
Beijing — China’s social media and e-commerce startup Xiaohongshu, or “Little Red Book,” is in early talks to raise funds at a valuation of about $6bn, according to people familiar with the matter.
The online platform, backed by Tencent and Alibaba, aims to raise about $400m-$500m, said the people. The company is working with an adviser on the financing plan and has sounded out potential investors, said the people, who asked not to be identified as the discussions are private. Its valuation reached about $5bn in 2019, one person said...
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