Hongshu.com
Social e-commerce platform for user-generated lifestyle content.
| Date | Investors | Amount | Round |
|---|---|---|---|
$25.0m | Growth Equity VC | ||
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Xiaohongshu, also known as Red or Little Red Book, is a social media and e-commerce platform headquartered in Shanghai, China. It was founded in June 2013 by Charlwin Mao (Mao Wenchao) and Miranda Qu (Qu Fang). The founders, who both have backgrounds in technology and media, initially created the platform as an online guide for Chinese shoppers to share reviews and experiences about overseas products. Mao, a Stanford MBA graduate, and Qu were inspired by their own travel experiences and the desire to provide a trusted source for shopping insights.
The company quickly evolved, launching its own e-commerce operations in 2014 to allow users to purchase products directly through the app. This transformed the platform into an integrated social commerce ecosystem. The business model combines community-driven, user-generated content (UGC) with e-commerce, creating a seamless experience from content discovery, or "planting grass," to purchase, known as "uprooting grass." Revenue is primarily generated through advertising, brand partnerships, and a commission on sales from its e-commerce features.
Xiaohongshu primarily serves a young, urban demographic, with a significant portion of its user base being Gen Z women interested in fashion, beauty, and lifestyle trends. However, the platform has made strategic efforts to attract more male users to diversify its audience. The platform's core feature is its "Shopping Notes," where users share detailed posts with photos and videos about products and experiences. This focus on authentic, user-generated content has built a strong sense of community and trust among its users. Over the years, Xiaohongshu has received significant investment from major players like Alibaba and Tencent, reaching a valuation of over $17 billion by mid-2024.
Keywords: social commerce, e-commerce, user-generated content, lifestyle community, product reviews, influencer marketing, online shopping, content platform, brand partnerships, Chinese technology, social networking, beauty trends, fashion discovery, travel guide, direct-to-consumer, digital marketing, Gen Z consumers, RedNote, social media marketing, online community