TapTechNews August 8th news, Xiaohongshu once again spread IPO-related information. As of TapTechNews' press release, Xiaohongshu has not responded to this for the time being. However, an informed person close to Xiaohongshu told Shell Finance that the above news is not true.
Last month, Xiaohongshu was reported to have completed a new round of financing with a valuation of 17 billion US dollars (TapTechNews note: currently about 121.913 billion yuan). This financing was jointly participated by the foreign venture capital firm DSTGlobal and Sequoia China, as well as other investors such as Hillhouse, Boyu, and CITIC Capital. However, this financing is not the last new share financing before Pre-IPO as rumored by the outside world before, but through the transfer of old shares.
Previously, there was news that Xiaohongshu achieved profitability for the first time in 2023. According to four informed people, Xiaohongshu's net profit last year reached 500 million US dollars (currently about 3.644 billion yuan), and its revenue reached 3.7 billion US dollars (currently about 26.963 billion yuan).
The official website of Xiaohongshu shows that the company has received investments from big-name enterprises and institutions such as Alibaba, Tencent, GGV Capital, and Sequoia Capital. The company was founded in Shanghai by Mao Wenchao and Qu Fang in 2013. In October 2019, the number of monthly active users of Xiaohongshu has already exceeded 100 million, and 70% of the users are post-90s.