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Xiaohongshu Shareholders Rumored to be In Talks to Sell Shrs at Valuation of US$20B Min.
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The U.S. ban on TikTok will come into effect as soon as January 19, prompting concerns that a large number of netizens are switching to Xiaohongshu. Bloomberg cited sources as saying that heavyweight shareholders of Xiaohongshu are in talks of selling their shares at a valuation of at least US$20 billion. GGV Capital, GSR Ventures and Tiantu Capital are in talks to sell some of their interests in Xiaohongshu, report told. Xiaohongshu’s current shareholders, namely HongShan Capital Group and Hillhouse Investment, also expressed interest. TENCENT (00700.HK) is also considering whether to buy more stake of Xiaohongshu. If the deal goes through, the company's valuation is expected to return to its 2021 high. That could help the company to float on the public market as soon as this year, contingent on market conditions, report said. Xiaohongshu, founded in 2013, has more than 300 million monthly active users now. AAStocks Financial News |
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