Xiaohongshu
China's leading social commerce platform — the 'Little Red Book' (RedNote) lifestyle and shopping discovery app.
Social Media
📍 Shanghai
Founded 2013
Current Valuation
$31B
as of 2025-Q3
DECACORN
Xiaohongshu (also known as RED or RedNote in English) is a Shanghai-based social commerce app that has become the default shopping inspiration and lifestyle platform for young Chinese consumers. After surging in U.S. App Store rankings during the 2025 TikTok shutdown scare, secondary share transactions valued the company at $31B in September 2025, up from $26B in June 2025 — recovering from earlier 2024 lows of around $20B.
Founders & Key People
Charlwin Mao WenchaoMiranda Qu Fang
Investors
Tencent · Alibaba · Temasek · DST Global · GIC · Genesis Capital · GSR Ventures · ZhenFund
Products
- Xiaohongshu / RED app (iOS + Android)
- RedNote (English-language version)
- RED Mall e-commerce
- Creator monetization tools
- Brand advertising platform
Competitors
Douyin (TikTok China) · Weibo · Pinduoduo · Taobao · Meituan · Instagram (overseas)
social-commercechinalifestyletiktok-rivalsocial-media
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2025-Q3. Refreshed quarterly.