Lifestyle and community e-commerce platform Xiaohongshu (小红书) has completed its Alibaba-led Series D worth $300 million, with a valuation of $3 billion, local media is reporting.

Both new and old investors took part in the round, which also includes Jinshajiang Venture Capital, Tencent Investment, Jiyuan Capital, Yuansheng Capital, Tiantu Investment, Zhenwen Fund, and K11 Zheng Zhigang. The company will use the funds to expand its team, improve its technology, and grow its user base.

Xiaohongshu was founded in 2013 and currently has more than 100 million users and 30 million monthly active users (MAU), most of whom were born in the 90s. It allows users to share short videos and photos focussing on beauty, fashion, food, travel, and entertainment.

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Chris Udemans

Christopher Udemans is a Shanghai-based technology reporter. He covers Chinese artificial intelligence, mobility, and cybersecurity. You can contact him at chrisudemans [at] technode [dot] com.