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.
Ahead of the possible TikTok ban, "TikTok refugees" are flocking to the Chinese social media app Xiaohongshu, or Red Note, with strange and fascinating consequences.
(Reuters) -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.
Those who made the decision to switch from TikTok to Xiaohongshu were well aware of their actions: They were searching for a new platform akin to TikTok, hoping to find content that aligned with their familiarity.
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.
Chinese-made social media apps Xiaohongshu and Lemon8 have soared to the top two spots on Apple’s iPhone download charts in the U.S., as users look for alternatives to TikTok ahead of an imminent ban stateside.
Some U.S. TikTok users have flocked to the Chinese social media app Xiaohongshu, or RedNote, in protest of the looming ban.
As the fate of TikTok hangs in the balance, U.S. TikTok users are flocking to Xiaohongshu — making it the top downloaded app in the U.S.
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."
With a TikTok ban set to go into effect in the U.S. on Sunday, social media users in the U.S. are migrating to Xiaohongshu, also known as ‘REDnote.’
As the threat of a TikTok ban looms, U.S. TikTok users are flocking to the Chinese social media app Xiaohongshu – making it the top downloaded app in the U.S. Some of the “TikTok refugees,” as they call themselves,