Xiaohongshu eyes late-June confidential filing for Hong Kong IPO
What's new: The RedNote owner was valued at about $31 billion last year and projected roughly $3 billion in 2025 profit.
Xiaohongshu Technology, the Chinese company behind social platform RedNote, is preparing to confidentially file for an initial public offering in Hong Kong by the end of June, people familiar with the matter said. The Shanghai-based company is working with advisers on a listing that could rank among Hong Kong’s biggest in recent years, though timing, size and valuation are still under discussion. Xiaohongshu, founded in 2013 by Charlwin Mao and Miranda Qu, has grown from a shopping-guide app into a major social-commerce and lifestyle platform competing with ByteDance’s Douyin. In a secondary-market transaction last September, the company’s valuation rose to about $31 billion.