> according to the financial times, xiaohongshu completed a round of stake sales of existing shares to new and former investors around july 2024 that valued the company at around $17 billion. this round saw participation from prominent venture capital investors, including dst global, hongshan (formerly sequoia china), hillhouse investment, boyu capital, and citic capital. the platform, which already has significant backing from chinese tech giants tencent and alibaba, achieved profitability in 2023 with a net profit of $500 million on revenues of $3.7 billion
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