Reported 1 day ago
According to Bloomberg News, discussions regarding a stake sale in China's Xiaohongshu could value the TikTok competitor at $20 billion, with key investors GGV Capital, GSR Ventures, and Tiantu Capital exploring interest from companies like Tencent. This comes as TikTok is poised to cease its U.S. operations due to a federal ban. Xiaohongshu, akin to Instagram, boasts over 300 million users and had a valuation of $17 billion following its last funding round in July 2024.
Source: YAHOO