The Beijing News, 5/31/18
Xingyin Information Technology, operator of overseas travel and shopping SNS app Xiaohongshu.com (Little Red Book), recently made an internal announcement that the company has completed USD 300 mln in new funding led by Chinese internet conglomerate Alibaba Group (NYSE: BABA) with participation by GSR Ventures, Tencent Investment, Granite Global Ventures, Genesis Capital (Yuansheng Capital), Tiantu Capital, ZhenFund, and K11 Art Foundation founder Adrian Cheng, according to a source at the company speaking with online media outlet The Beijing News.
A representative for Little Red Book told The Beijing News that the company plans to make an official announcement regarding the matter in the near future.
Little Red Book's business activities include user-generated content production and B2C self-operated cross-border e-commerce operations. The company initially operated as an online e-commerce platform for imported cosmetics products, and has since developed into a lifestyle sharing community covering food, clothing, entertainment and shopping. As of April 15, Little Red Book had more than 96 mln users.
Editor's Note: Chinese IT industry investment information portal IT Juzi lists this newest round of funding as Little Red Book's Series D. For more information on this topic, please see Rumor: Shopping SNS App Little Red Book Seeks USD 200 Mln Funding, MD 4/27/18 issue.
Keywords: wireless M&A VC Tiantu Capital Adrian Cheng m-commerce mobile SNS funding lifestyle Tencent Series D GSR Ventures Alibaba Group ZhenFund Xiaohongshu Xingyin BABA cross-border e-commerce Genesis Capital GGV Capital 0700.HK