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Xiaohongshu bids to reinvent itself, again · TechNode


Alibaba and Tencent rarely invest in the same startup. Xiaohongshu, the social media and e-commerce hybrid commonly regarded as China’s Instagram, is one of the few exceptions.

Joining the select ranks of industry disruptors like Didi Dache and Bilibili, the app quickly generated immense buzz. But the market is increasingly putting a question mark over the company’s promise. Now, it’s pivoting yet again in a bid to recapture its early magic.

Founded in 2013 by Charlwin Mao and Miranda Qu, Xiaohongshu, also called Little Red Book or Red, gained popularity among China’s young, middle-class, and mostly female consumers hungry for lifestyle and fashion tips. A favorite among investors, the consumption-oriented social media platform accumulated over $400 million in funding. Its most recent round, in June 2018, raised $300 million from the likes of both Alibaba and Tencent, among others, and valued the company at $3 billion.

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Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.



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Written by Aakash Malu

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