Deep Tide TechFlow news: On June 17, the Wall Street Journal reported that China’s lifestyle and video-sharing platform Xiaohongshu plans to list in Hong Kong as early as the end of this year. Major investors are seeking to set its valuation at more than $70 billion. Previously, the company’s valuation in recent private secondary-market transactions had already exceeded $50 billion.



Xiaohongshu was founded by Mao Wenchao and Qu Fang in 2013. It initially launched as a shopping guide app, and has since developed into one of China’s most influential social media platforms. It is expected that its net profit this year will exceed $3 billion.
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