Chinese start-up Xiaohongshu — which translates to 'little red book' — has become China's leading social e-commerce platform for overseas luxury goods, primarily fashion and beauty products. Disruptor50
Funding: $417.5 million Key technologies: Artificial intelligence, Internet of things, machine learningHere's how a social e-commerce site knows it's made it: Kim Kardashian has launched an account. Chinese start-up Xiaohongshu — which translates to"little red book" — has become China's leading social e-commerce platform for overseas luxury goods, primarily fashion and beauty products.
The shopping service is a source of advice and recommendations for its community of fashion and beauty lovers, who post pictures of their favorite products and provide information about where to buy them. The strategy has made it the world's largest lifestyle platform that integrates community and content with e-commerce, and it has built up a following among some of China's biggest influencers.
Xiaohongshu now has more than 200 million registered users and claims that number is growing by 300% each year. Over 70% of them were born in the 1990s, with 50% born after 1995. The company has raised a little more than $417 million so far, with $300 million from Alibaba Group last June. Such rapid growth hasn't come without a few bumps in the road. In April the company was called out in a report from the Beijing Center for Disease Prevention and Control for violating a 2016 law prohibiting online tobacco ads by integrating smoking content into lifestyle posts.
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