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Overseas Shopping Tip App Xiaohongshu Announces Millions of Dollars Funding Upon Release of New Update
Xiaohongshu, an overseas shopping tip app, announced seven-digit dollars of Series A funding led by an existing angel investor from Silicon Valley and followed by ZhenFund.
Launched in Dec. last year, Xiaohongshu is an online platform where people can share cross-border purchase information, shopping tips and strategies, helping users to shop smarter overseas. It also integrates information for discount, refund, featured items, shopping malls, etc. The app claims hundreds of thousands of registered users as of present.
Upon release of the funding news, Xiaohongshu is planning to roll out a new version tomorrow. In this update, Xiaohongshu optimizes the interface by putting two columns of Daily Selection and My Follows on the home page so as to present a more clear and simple browsing experience. Several camera filter effects are also added to facilitate the creation of better pictures.
Although the app is now only available on iOS platform, the company planned to release an Android version early August.
Xiaohongshu started its business by helping overseas travelers to draft a shopping list before they hit the roads. But with the aggregation of more UGC contents, the service is transforming into a community for those who are passionate about fashion and shopping, and want to known more about these fields even though they do not have overseas traveling plans on their schedules.
Located in Shanghai, Xiaohongshu is founded last year by Mao Wenchao, a Stanford MBA graduate with rich experiences in financial and consulting industry, and Miranda Qu, a seasoned marketing expert. The company is growing fast with staffs tripled to more than 30 employees since its establishment.
image credit: Xiaohongshu