China Startup `Little Red Book‘ Said to Be Valued at $1 Billion
E-commerce startup Xiaohongshu, which means “Little Red Book” in Chinese, has raised $100 million from Tencent Holdings Ltd. and other investors at a valuation of about $1 billion, two people familiar with the matter said.
The online shopping site co-founded in 2013 by Charlwin Mao, which connects overseas merchants with local buyers, becomes China’s newest billion-dollar startup. It also attracted investment from Genesis Capital and Tiantu Capital in its latest round, the people said, asking not to be identified because the matter is private.
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