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Chinese social media app Xiaohongshu hits $18bn valuation

Funding round comes as rumors swirl over possible Hong Kong IPO

Chinese social media app Xiaohongshu has received its first injection of funding from Singapore's state-owned Temasek Holdings.   © Reuters

Xiaohongshu, a Chinese social media and e-commerce app that resembles Instagram, has been valued at about $18 billion in a funding round that includes the first injection from a Singaporean state-owned investor, Caixin has learned from multiple sources.

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