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Tencent-Backed Little Red Book Is Said to Seek $200 Million

  • Xiaohongshu is said to seek at least a $2.5 billion valuation
  • The women-focused retailer is thriving despite Alibaba and JD

Chinese e-commerce startup Xiaohongshu, or "Little Red Book,” is in early talks to raise at least $200 million at a valuation or more than $2.5 billion to quicken its expansion in a heated e-commerce space, according to people familiar with the matter.

The women-focused shopping site co-founded in 2013 by Charlwin Mao is seeking to more than double its valuation since its last round of funding more than two years ago, the people said, requesting not to be named because the matter is private. Its plans are preliminary and the fundraising targets may change, they added.