Xiaohongshu

Xiaohongshu, also known as Little Red Book(Chinese: 小红书; pinyin: xiǎohóngshū; lit. 'Little Red Book'), is a social media and e-commerce platform. It has been described as "China's answer to Instagram".[1]

For other uses, see Red Book.
Xingin Information Technology (Shanghai) Co, Ltd
TypeSocial Networking & E-commerce
FoundedJune 2013
FounderMiranda Qu Fang & Charlwin Mao Wenchao
Headquarters
Shanghai, China
ProductsXiaohongshu (RED)
Websitexiaohongshu.com

As of July 2019, Xiaohongshu had over 300 million registered users,[2] with 70% of the users born after 1990s (or Generation Z),[3][4] 80% of the users are females.[5] The number of monthly active users is over 85 million.[6]The app allows users and influencers to post and share product reviews, travel blogs and lifestyle stories via short videos and photos.[7][8] Xiaohongshu also operates RED Mall, which sells international products to Chinese users.

History

Xiaohongshu was founded by Miranda Qu and Charlwin Mao in 2013,[9] as an online tour guide for Chinese shoppers, providing a platform for users to review products and to share their shopping experiences with the community. In October 2014, the founders started focusing on connecting Chinese consumers with global retailers and established its own cross-border e-commerce platform, where Chinese consumers can buy products from overseas and order directly.

In 2015, Xiaohongshu set up its warehouses in Shenzhen, Guangdong and Zhengzhou, Henan.[10]

By May 2017 Xiaohongshu had over 50 million users, with sales of nearly CN¥ 10 billion, making it one of the world's largest community e-commerce platforms. Xiaohongshu's international logistics system REDelivery went into service during the month.[11] On 6 June that year, Xiaohongshu held a shopping festival to celebrate its fourth anniversary, which sees the sales revenue exceeded CN¥ 100 million in 2 hours, while the app ranked in first place in the iOS App Store under "Shopping" category during that day.[12]

In June 2018, Xiaohongshu completed a US$300 million funding led by Alibaba and Tencent, with a valuation of US$3 billion.[13]

In October 2021. Xiaohongshu decided to transfer the IPO from the United States to Hong Kong. According to a Bloomberg report in July, this includes requiring all companies holding more than 1 million user data to submit a cyber security review, which is one of the reasons for the suspension of Xiaohongshu's listing in the United States.[14]

References
  1. https://www.scmp.com/tech/tech-trends/article/3152737/chinas-answer-instagram-apologises-upsetting-tourists-heavily
  2. "About Xiaohongshu". Xingin Information Technology (Shanghai) Co, Ltd (in Chinese). Retrieved 16 February 2019.
  3. Wei, Daniela; Banjo, Shelly (24 April 2019). "The Future of Shopping Is Already Happening in China: China's Gen Z Skips the Stores and Shops on Social Media". Bloomberg. Retrieved 11 May 2019.(subscription required)
  4. "小红书_标记我的生活". www.xiaohongshu.com. Retrieved 2020-01-17.
  5. "The Best Guide To XiaoHongShu Marketing: Sell to Gen-Z & Millenials". Dragon Social. 2019-03-14. Retrieved 2020-01-17.
  6. 常涛. "内容涉嫌违规？小红书突遭下架，近五个月争议不断". WeChat Official Accounts Platform. Retrieved 2020-09-16.
  7. "Xiaohongshu (Little Red Book) is fostering e-commerce via word of mouth - WalktheChat". WalktheChat. 10 June 2018. Retrieved 26 October 2018.
  8. Twigg, Melissa. "Why China doesn't keep up with the Kardashians (or Hadids)". Inkstone News. Retrieved 11 May 2019.
  9. Flannery, Russell (2 June 2018). "Alibaba, Tencent, K11 Adrian Cheng Join $300M Investment Round For Xiaohongshu". Forbes. Retrieved 23 February 2019.
  10. "Billion Dollar Unicorns: Xiaohongshu Leverages Social Commerce to Join the Club". Sramana Mitra. 19 June 2018. Retrieved 26 October 2018.
  11. Sentance, Rebecca (23 October 2018). "Xiaohongshu: How a Chinese ecommerce app built a thriving community around UGC". EConsultancy. Retrieved 23 February 2019.
  12. Dudarenok, Ashley (17 June 2018). "How to launch your product on China's popular Xiaohongshu fashion platform". The Next Web. Retrieved 26 October 2018.
  13. Udemans, Christopher (1 June 2018). "Alibaba leads $300 million investment in Xiaohongshu". Technode.
  14. Fioretti, Julia (Oct 11, 2021). "China's Little Red Book to Shift IPO to Hong Kong From U.S." Bloomberg.
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