Xiaohongshu Secures Financing Worth $500 Million, Valuation Reaches $20 Billion

Chinese media outlet 36Kr reported on Monday that Xiaohongshu, a lifestyle sharing platform, recently completed a new round of financing worth $500 million, led by Temasek and Tencent, followed by previous shareholders such as Alibaba, Tiantu Capital and Genesis Capital.

The company’s valuation now sits at about $20 billion. Xiaohongshu commented that th…