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Who Owns REDnote App?
- Authors
- Name
- Leo Hunter
- @leohunteren
Company Overview and Ownership
REDnote, known as Xiaohongshu in Chinese, is owned by Xiaohongshu Limited, a Chinese technology company. The company was co-founded by Miranda Qu and Charlwin Mao in 2013. As of 2024, both founders continue to play crucial roles in the company's leadership, with Miranda Qu serving as the CEO and Charlwin Mao as the President. It's important to note that REDnote is an independent company and has no ownership connection with ByteDance, the parent company of TikTok.
Major Investors and Ownership Structure
The ownership structure of REDnote includes several prominent investors:
- Tencent Holdings: One of China's largest technology companies, known for WeChat
- Alibaba Group: The e-commerce giant led by Jack Ma
- Genesis Capital: A leading venture capital firm
- ZhenFund: An early-stage venture capital firm
- Innovation Works: A venture capital firm founded by former Google China head Kai-Fu Lee
The company has successfully raised multiple rounds of funding, with its valuation reaching approximately $20 billion in its latest financing round. This makes it one of China's most valuable private technology companies.
The Founding Story
REDnote's journey began when Miranda Qu and Charlwin Mao identified a growing demand among Chinese consumers for authentic reviews of overseas products. They created a platform that initially focused on helping Chinese travelers make informed shopping decisions while abroad.
The founders' vision was to build a trusted community where users could share genuine experiences and recommendations. This commitment to authenticity has been a key factor in REDnote's success and continues to guide the company's development strategy.
Corporate Governance and Management
The company maintains a dual-leadership structure:
- Miranda Qu (CEO): Oversees overall strategic direction and business development
- Charlwin Mao (President): Focuses on technological innovation and product development
This leadership approach has helped REDnote maintain its position as a leading lifestyle platform while continuously innovating its features and user experience.
Future Ownership Prospects
While there have been speculations about REDnote potentially going public, the company has maintained its private status. This decision allows REDnote to focus on long-term growth and innovation without the pressures of quarterly earnings reports.
The platform's recent surge in popularity among international users, particularly with the influx of TikTok refugees, has further strengthened its position in the global social media landscape.