December 1, 2022

Xiaohongshu sheds as much as half its implied worth in non-public

Xiaohongshu sheds up to half its implied value in private

Xiaohongshu sheds up to half its implied value in private

Xiaohongshu, the wildly in style social media platform thought of to be China’s reply to Instagram, had been driving excessive final yr.

With a loyal following of millennial ladies and an viewers of 200mn lively customers, the corporate gained a $20bn valuation in a fundraising spherical and was marching in the direction of a blockbuster preliminary public providing.

Then the tide turned for Chinese language web start-ups.

The Alibaba and Tencent-backed group was pressured to shelve its plans to go public within the US…

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