Total amount raised
$917.7 Millions
Latest funding date
7/1/2024
Location
Xiaohongshu has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform is a social e-commerce hub, offering users a space to share product reviews and shopping experiences.
Keep reading to explore the intricacies of Xiaohongshu's fundraising journey and the investors backing this innovative platform.
What Is Xiaohongshu?
Founded in 2013 by Charlwin Mao Wenchao and Miranda Qu, Xiaohongshu is a social e-commerce platform based in Shanghai, China. The platform allows users to share product reviews and shopping experiences, focusing on lifestyle content such as fashion, food, beauty, and travel.
Initially aimed at assisting overseas travelers with shopping, Xiaohongshu has evolved into a community where users can share insights through text, images, and videos. The company also offers advertising services and a live streaming assistant tool.
With a workforce of 1001-5000 employees, Xiaohongshu continues to grow, providing a space for users to discover and share lifestyle experiences.
How Much Funding Has Xiaohongshu Raised?
- Seed Round
- Amount Raised: CN¥150K
- Date: September 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial features.
- Series A
- Amount Raised: CN¥141K
- Date: August 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand user base and enhance platform capabilities.
- Series B
- Amount Raised: $17.5M
- Date: June 2015
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve user engagement.
- Series C
- Amount Raised: $100M
- Date: March 2016
- Lead Investors: Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in technology and expand market reach.
- Series C
- Amount Raised: CN¥994K
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance platform features and user experience.
- Series D
- Amount Raised: $300M
- Date: June 2018
- Lead Investors: Alibaba Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand e-commerce capabilities and market presence.
- Series E
- Amount Raised: $500M
- Date: November 2021
- Lead Investors: Temasek Holdings, Tencent
- Valuation at Round: $20 billion
- Motivation Behind the Round: To strengthen financial position and support growth amidst regulatory scrutiny.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: September 2023
- Lead Investors: HSG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2024
- Lead Investors: DST Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and enhance platform features.
Total Amount Raised: $917.5M
Current Valuation: $20 billion
Key Investors
- Alibaba Group
- Details: Alibaba Group is a Chinese multinational conglomerate specializing in e-commerce, retail, internet, and technology. Founded by Jack Ma in 1999, it has grown to become one of the world's largest retailers and e-commerce companies.
- Investment Focus Areas: E-commerce, cloud computing, digital media, entertainment
- Notable Investments: Lazada, Ele.me, Youku Tudou
- Tencent Holdings
- Details: Tencent Holdings is a Chinese multinational conglomerate holding company. It is known for its subsidiaries in various internet-related services and products, entertainment, AI, and technology.
- Investment Focus Areas: Social networking, gaming, fintech, cloud services
- Notable Investments: JD.com, Meituan-Dianping, Pinduoduo
- Temasek Holdings
- Details: Temasek Holdings is a state-owned investment company based in Singapore. Established in 1974, it manages a diversified global portfolio across various sectors.
- Investment Focus Areas: Technology, life sciences, agribusiness
- Notable Investments: Gojek, Meituan, Ant Financial
- Genesis Capital
- Details: Genesis Capital is a venture capital firm focusing on early to growth-stage investments in the technology sector. It aims to support innovative companies with high growth potential.
- Investment Focus Areas: Technology-driven companies, internet, mobile sectors
- Notable Investments: ByteDance, Kuaishou, Meituan
- GGV Capital
- Details: GGV Capital is a venture capital firm that invests in seed-to-growth stage technology companies. It has a global presence with a focus on both the U.S. and China markets.
- Investment Focus Areas: Consumer internet, enterprise tech, smart tech
- Notable Investments: Airbnb, Alibaba, Didi Chuxing
What's Next for Xiaohongshu?
As Xiaohongshu looks to the future, the opportunities are vast. The platform is poised to expand its user base and enhance its e-commerce capabilities, leveraging new technologies like AI to improve user experience. With a valuation of $20 billion, the potential market size is substantial, offering significant room for growth.
Future fundraising seems promising, given the strong backing from major investors like Temasek Holdings and Tencent. This financial support will be crucial as Xiaohongshu navigates regulatory challenges and competitive pressures. Addressing data privacy concerns and maintaining user trust will be key to sustaining its growth trajectory.
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