Xiaohongshu
小红书
Xiaohongshu is a Chinese lifestyle platform whose core mechanic is "grass-seeding" (种草) — users browse others' posts for inspiration on fashion, home décor, and daily life, with commerce flowing from that content discovery . The company was founded by Mao Wenchao and Qu Fang, who appeared on a 2024 billionaire list as representatives of mainland China's new unicorn founders . Its investor roster includes GSR Ventures, which spotted Mao at a 2013 Stanford entrepreneurship competition and made what became partner Zhang Yutong's signature deal ; GGV Capital ; Hillhouse, Boyu and CITIC Capital ; and DST Global, which bought secondary shares at a reported valuation around $17 billion as of mid-2024 . The platform has also become a native habitat for AI developers — over 50,000 community-native builders have emerged, using it to source feedback and seed users for lightweight apps .
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Coverage
Xiaohongshu's Youngest Business Unit Head Strikes Out on Her Own, Using AI to Reimagine "Grass-Seeding"丨début
No more speculation, no more spectating.
elsewhere别处发生·Vibe Coding Should Start From Childhood
A new generation is already entering elsewhere.
elsewhere别处发生·Vol.004 | Conversation with Richard Guo: Staying Out of the Fray, But Keeping on Winning
elsewhere别处发生·A Conversation with Sam Guo: Staying Out of the Fray, but Keeping on Winning
Truck drivers, sour kiwis, counterfeit cigarettes and booze — and the legends of investing.
elsewhere别处发生·Sp.01 | Debriefing China's Primary Market in 2025 (Ft. Crossroads)
elsewhere别处发生·Vol.002 | A Conversation with Huadong Wang: Living a Haruki Murakami Life
elsewhere别处发生·Right now, the most sought-after developer profile might just be the Xiaohongshu-native type.
A new startup niche.
暗涌Waves·Exclusive | The Full Untold Story Beneath the Surface of "Kimi Yang Zhilin Arbitration Case"
Who saw the sixpence, and who saw the moon.
暗涌Waves·10 Facts About 1,000 Chinese Billionaires
The currents of the era, all contained within the sequence.
暗涌Waves·Becoming China's Most Daily-Interaction Heavy AI Company: 15 Things MiniMax Got Right
There are two optimistic signals regarding large language models.
暗涌Waves·Exclusive | Actually, DST Bought Xiaohongshu Secondary Shares
Mega funds still making deals.
暗涌Waves·Minimax's Yan Junjie in Conversation with Huang Mingming: AGI, There's Only One Path — the Hardest One
A Conversation on Non-Consensus and Long-Term Optimal Solutions
暗涌Waves·Exclusive | Moonshot AI's valuation reaches $3 billion in new round; Tencent joins after Alibaba
A full list of Moonshot AI's investors to date.
暗涌Waves·Allen Zhu went left, Zhang Yutong went right
When Allen Zhu chose to stay put and ride out the storm, Zhang Yutong decided to find a new table.
暗涌Waves·China's LLM Funding War: The Quick Death of Romance
Do the investors regret it?
暗涌Waves·DPI > 1 — it's a magic spell.
Before taking responsibility for a new world, GPs must first answer to their LPs.
暗涌Waves·Can You Still Remember the Last Time a Purchase Actually Satisfied You? | WAVES RADIO
Fengqiao Capital's Chang Xin in conversation with Luxe.Co's Yu Yan.
暗涌Waves·
