China's leading social commerce platform — the 'Little Red Book' (RedNote) lifestyle and shopping discovery app.
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.
Social Media📍 ShanghaiFounded 2013
Current Valuation
$31B
as of 2025-Q3
DECACORN
QL Price
$50B
0% vs last round
QuantLogix's current estimate for Xiaohongshu, published 2026-10-07 — in line with the last disclosed round of $50B (2025-12).
Confidence
medium
Basis
secondary led
What backs this price
Last disclosed round
$50B
2025-12
weight 0.56
Secondary market print
$50B
2026-06-27
weight 0.54
How this price has held up
No round has priced for Xiaohongshu since QuantLogix began publishing a price for it, so there is nothing to grade yet. The claim above is on the record from 2026-10-07 and will be graded against the next priced round. See the full accuracy record →
Which publicly-traded funds already hold it, what $10,000 buys, and whether any route is open to you.
Cite this price as QuantLogix QL Price, Xiaohongshu, 2026-10-07 (c95f9cb8847b5b43).
The id pins this exact claim, so a citation stays checkable after the price moves.
Model estimate for research — not a quote, target price, or investment advice.
IPO Outlookrumored
Is Xiaohongshu going public in 2026?
An IPO is rumored for 2026, with nothing filed. Xiaohongshu remains private and the date is not the company's.
What is Xiaohongshu's valuation in 2026?
Xiaohongshu is valued at $31B as of 2025-Q3, set by its Secondary tender (Sep 2025). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has Xiaohongshu filed an S-1?
No public S-1 is on file for Xiaohongshu as of 10/07/2026; the IPO is rumored.
Who are Xiaohongshu's investors?
Xiaohongshu's investors include Tencent, Alibaba, Temasek, DST Global, GIC, Genesis Capital and 2 more.
How much has Xiaohongshu raised?
Xiaohongshu has raised $920M in total, most recently a Secondary tender in Sep 2025.
Is Xiaohongshu publicly traded — can you buy Xiaohongshu stock?
No. Xiaohongshu is a private company — its shares are not listed on any exchange and there is no ticker. The routes to exposure are pre-IPO secondary marketplaces and funds (accredited investors), employee tender offers when the company runs one, and public companies with read-through exposure. QuantLogix maps every route it can verify for Xiaohongshu on its Pre-IPO Access Desk.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Company Profile
CEO
Charlwin Mao Wenchao
Founded
2013
HQ
Shanghai
Employees
10000+
Total Raised
$920M
Est. Revenue
$4.8B (2024)
Growth
+30% YoY
IPO Status
rumored
Fundraising Status
Secondary tender · 1y 1mo ago
rumoredTotal raised $920M
Secondary Market
Implied price / share
$60
Open interest
1
Secondary price return by period
Implied per-share price from private secondary transactions, as of Jun 2026. This is a point estimate, not a quote — the feed carries no bid, ask or spread, and a secondary print is evidence of what someone paid on that date rather than a live market. Compare across every tracked name →
Latest Funding Round
Round
Amount
Date
Lead Investor
Post-Money
Secondary tender
—
Sep 2025
GSR Ventures
—
Talent Signal
No public careers page or job board could be found for Xiaohongshu as of 2026-09-15. That itself is a datapoint: no open external hiring surface.
Checked the company site and major hosted job boards. Re-checked monthly.
Founders & Key People
Charlwin Mao WenchaoMiranda Qu Fang
Investors
Tencent · Alibaba · Temasek · DST Global · GIC · Genesis Capital · GSR Ventures · ZhenFund
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.