Reported 4 days ago
Chinese regulators have informally advised Xiaohongshu Technology Co., the owner of the Rednote app, that securing a state-owned investor may ease the process for future IPO approvals. While it remains uncertain if Xiaohongshu will pursue this option, the company has gained popularity among social media users, particularly in light of TikTok's predicament in the U.S. With projections of over $1 billion in net income for 2024 and continued interest from major investors, Xiaohongshu is positioning itself for a significant market presence.
Source: YAHOO