TechFlow News, June 15: According to Bloomberg, citing anonymous sources, Xiaohongshu Technology Co., Ltd.—the operating entity behind Xiaohongshu—is preparing to confidentially file its initial public offering (IPO) application in Hong Kong by the end of June. The report states that the company is working with advisors to advance potential listing plans, and this deal could rank among Hong Kong’s largest IPOs in recent years. However, details—including timing, fundraising amount, and valuation—have not yet been finalized, and related discussions remain ongoing.
Xiaohongshu was founded in Shanghai in 2013. Its investors include Tencent, Alibaba, Sequoia China, Hillhouse Investment, and GSR Ventures. In its 2024 funding round, Xiaohongshu’s valuation stood at approximately $17 billion. As its business expanded, its secondary-market valuation surged to $31 billion in September 2025, and the company projected full-year 2025 profits of around $3 billion to its shareholders.
