Official announcements from Xiaohongshu or the investing company

Xiaohongshu, Valued at $17 Billion, Tops U.S. App Store as TikTok Users Flee Ahead of January 19 Ban

Jan 13, 2025, 04:48 PM

As the potential ban of TikTok in the U.S. looms, American users are turning to Xiaohongshu, also known as RedNote, a Chinese social media platform. Amid concerns over TikTok's ownership and national security, RedNote has surged to the top of the U.S. App Store, becoming the most downloaded free app and leading the social networking category. The migration to RedNote, often referred to as 'TikTok refugees,' is driven by the impending deadline of January 19, when TikTok could be suspended unless its parent company, ByteDance, divests the app. RedNote, which offers a mix of short-form video content, lifestyle inspiration, and social shopping features, has attracted users with its similarity to TikTok and additional functionalities akin to Instagram and Pinterest. The platform, valued at $17 billion, has seen significant growth, boasting 300 million monthly active users, 79% of whom are women. It has raised $917 million in venture funding from investors including Tencent and Alibaba, and is projected to increase its profits to over $1 billion in 2024.