China's Instagram-Style Xiaohongshu Crosses $1 Billion in Profit [Yahoo! Finance Canada]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Xiaohongshu Technology Co. has told investors its net income is on track to cross that milestone this year, people familiar with the matter said. That reflects a renewed focus on the bottom line over user growth, which has slowed in the years since its Covid-era heyday, the people said, asking not to be identified discussing confidential information. The strong results are likely to revive speculation around the market debut of a startup valued at $20 billion in its last funding round in 2021. Xiaohongshu, which literally means “little red book,” started out like its US cousin as a repository of personal travel and dining photos before branching out into reviews and live shopping. A Xiaohongshu representative didn't respond to requests for comment. Started in 2013 by Charlwin Mao Wenchao and Miranda Qu Fang as a shopping guide for Chinese tourists, Xiaohongshu now counts some 300 million monthly active users. Its rapid growth comes in part at the expe
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