Xiaohongshu Valuation Surges to $26 Billion, Boosting Backer GSR Ventures

Xiaohongshu's valuation has surged to $26 billion through recent market transactions via GSR Ventures Management Co. The startup's price tag emerged through a document from GSR fund, which showed shares of the fund changing hands. Xiaohongshu comprises 91% of the GSR fund's assets, translating to a big jump in the fledgling social media firm's valuation over its last-reported $20 billion. The valuation surpasses Xiaohongshu's Covid-era peak in 2021, and would be a boost for an initial public offering anticipated to happen this year.