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.

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.

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.’

Chinese lifestyle sharing platform Xiaohongshu (also referred as RedNote) unexpectedly climbed to the top of the US Apple

The app that Americans are flocking to as a TikTok alternative is Xiaohongshu, or RedNote, which translates to “Little Red Book.” This name carries significant historical weight, as it alludes to Mao Zedong’s Little Red Book, a mandatory collection of his quotes and philosophies that symbolized the Cultural Revolution in China.

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,

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.

RedNote (Xiaohongshu) is a relatively new social media platform designed to cater to users seeking a more intimate and engaging experience compared to mainstream networks like TikTok. Launched in response to increasing concerns about privacy,

App gives ultimatum it would ‘go dark’ for 170 million American users on Sunday - TikTok said the Biden administration must give the likes of Google and Apple reassurances that they won’t be punished,