Xiaohongshu reportedly plans to secretly submit its IPO application in Hong Kong before the end of June
According to Bloomberg citing informed sources, Xiaohongshu Technology Co., Ltd. is preparing to secretly submit an initial public offering application in Hong Kong before the end of June. Currently, the listing time, fundraising scale, and valuation have not been finalized. Xiaohongshu was founded in Shanghai in 2013, with investors including Tencent, Alibaba, Sequoia China, Hillhouse Investment, and Jinshajiang Venture Capital. Its valuation for the 2024 funding round is approximately $17 billion, and its valuation for secondary market transactions will rise to $31 billion in September 2025. It predicts to shareholders that its annual profit for 2025 will reach approximately $3 billion.