Alibaba buys into Xiaohongshu’s $300m series D

Jun 1, 2018 • Robert Lavine

Cross-border e-commerce platform Xiaohongshu has raised funding in an Alibaba-led round that included Tencent, valuing it at more than $3bn.

E-commerce firm Alibaba has co-led a $300m series D round for China-based cross-border online retail platform Xiaohongshu that valued it at more than $3bn, Kr36 reported yesterday.

Internet group Tencent also participated in the round, along with venture capital firms GGV Capital, GSR Ventures and ZhenFund as well as, according to VC firm Tiantu Capital’s WeChat account, Tiantu, Genesis Capital and entrepreneur Adrian Cheng.

Also known as Little Red Book, Xiaohongshu began life as an online portal where users could…

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