Xiaohongshu: Company Profile & Valuation

Xiaohongshu, known in English as RedNote, is a Chinese social networking and e-commerce platform. Xiaohongshu was founded by Miranda Qu and Charlwin Mao in 2013 as an online tour guide for Chinese shoppers, providing a platform for users to review products and share their shopping experiences with the community.

It is known for combining user-generated notes, posts mixing text, images, and short videos, with product discovery and social commerce features, and as of September 2025 the app had roughly 234 million monthly active users in China alone. In January 2025, the app briefly gained an influx of new users from the United States due to the anticipated shutdown of TikTok's U.S. operations, though the app's popularity overseas quickly faded soon after that.

Listed funds carry late-stage private names. A fund's latest schedule of investments shows whether it holds Xiaohongshu.

Often trade at a premium or discount to NAV.

Platforms match existing holders with buyers. Xiaohongshu availability at any moment is set by the holders.

High minimums, transfer approval, company right-of-first-refusal.

Valuations, rounds and IPO status for every company in the directory — Xiaohongshu included.

Lead investors for each round are in the funding timeline.

The closest social media and e-commerce peers are on the competitors page.

The routes section explains what is realistically available for a company at this stage.

No. Xiaohongshu is a private company; its shares do not trade on a public exchange.

The last valuation is $50B (tender, Dec 2025).