China’s Instagram-like app Xiaohongshu expected to top $1 billion profit ahead of potential IPO
Xiaohongshu will turn its livestream shopping business into an independent unit. (Image credit: TechNode/Eugene Tang) Xiaohongshu, a Chinese social platform often likened to Instagram, is expected to double its profit to more than $1 billion in 2024 ahead of a potential IPO, Bloomberg reported on Thursday. The potential milestone reflects…
bubmagDecember 13, 2024