Chinese social e-commerce platform Xiaohongshu, or Red, has hired a new chief financial officer as it weighs a public listing in the US as early as this year, according to reports.
These Chinese shopping apps are now the most popular way for people to buy almost anything online.
Four out of the top five most-mentioned brands associated with the “sneaker” hashtag on social shopping app RED during the study period were luxury brand names, the report finds.
This recent change will surely impact the well-being and the financial prospects for bloggers on the platform.
Xiaohongshu, translated into “Red” or “Little Red Book”, a shopping tip app gaining large popularity among Chinese millennials, just closed its $300 million Series D funding round led by Internet giant Alibaba Holding.