Xiaohongshu’s biggest shareholders are in talks to sell shares in the Chinese Instagram-like service at a valuation of at least $20 billion, drawing interest from Tencent Holdings Ltd. and other big names as a potential TikTok US ban approaches.

On the heels of TikTok's looming shutdown on January 19 over its ownership in the U.S. (unless the Supreme Court intervenes), it looks like another American users are flocking to a Chinese app called Xiaohongshu as people become less optimistic that TikTok can overturn U.

Backers of China's Xiaohongshu are looking to sell a part of their stake to the likes of Tencent , among others, in a deal that could value the TikTok-rival at at least $20 billion, Bloomberg News reported on Thursday.

Chinese-owned TikTok is set to be banned in the United States on Jan. 19, 2025, and another Chinese-owned app is welcoming American "TikTok refugees."

Chinese social apps Xiaohongshu and Lemon8 have soared to the top two spots on Apple's iPhone charts ahead of the U.S.'s impending TikTok ban.

Ahead of a potential ban this Sunday, Xiaohongshu, which is also known as Red Note or Booktok, quickly became the most downloaded free app on the U.S. App Store on Tuesday, surpassing Lemon8, a social network app that is also owned by TikTok parent ByteDance.

Welcome to Tech In Depth, our revamped daily newsletter with reporting and analysis about the business of tech from Bloomberg's journalists around the world. Today, Gao Yuan recounts the rise of Xiaohongshu,

Xiaohongshu translates to "little red book ... Last year, President Joe Biden signed legislation requiring TikTok's owner, the Beijing company ByteDance, to sell the wildly popular social ...

A rare wave of U.S.-China camaraderie broke out online in recent days as “refugees” from the popular short video platform TikTok poured onto a Chinese social media platform to protest a now-delayed ba

The newcomers, who refer to the app as “RedNote” or “the Chinese version of Instagram” and call themselves “TikTok refugees,” are relying on translation tools to navigate Xiaohongshu ...

As the potential TikTok ban looms, US users are migrating to Xiaohongshu, also known as RedNote, making it the top downloaded app in the US. Users, dubbed 'TikTok refugees,' have embraced the Chinese lifestyle app to protest the ban,