BEIJING, Jan 15 (Reuters) - Chinese social media app RedNote has garnered attention lately as over half a million TikTok users recently flocked to the platform in protest against the looming ban of the short video app in the United States.
Known as "Xiaohongshu" in China, RedNote is a popular lifestyle app where users share aspects of their daily lives and offer recommendations.
RedNote is often likened to a Chinese version of Instagram. Its name "Xiaohongshu" translates to "Little Red Book" in English, a term historically associated with a collection of quotes by Chinese Communist leader Mao Zedong.
The app is widely seen as the leading search engine in China for recommendations, with top topics spanning beauty, fashion, travel, and food. Its user base is predominantly young and female.
Its interface sets it apart from TikTok and Instagram by displaying multiple posts - videos, photos, or longer texts - simultaneously.
Users can participate in discussions, share posts, make calls, and shop. The platform has recently intensified its efforts in .
Reports from Chinese media indicate that the app had over 300 million monthly active users by 2023.
Founded in Shanghai in 2013 by Miranda Qu, the current president, and Charlwin Mao, the CEO, the app was initially named "Hong Kong Shopping Guide," targeting Chinese tourists seeking recommendations abroad.
With shareholders like Chinese tech giants Alibaba and Tencent, Singapore's Temasek, and venture capital firms GSR Ventures, DST Global, and GGV Capital, RedNote is seen as a potential IPO contender.
Mao's personal wealth is around 18 billion yuan ($2.5 billion), while Qu's fortune stands at about 12 billion yuan, as per China's Hurun rich list.
While the app is primarily used by Chinese users, who can switch the app's language, the content has predominantly been in Mandarin.
The sudden influx of TikTok users has caught RedNote off guard. According to knowledgeable sources, the company is working to moderate English content and develop English-Chinese translation tools.
RedNote maintains a single app version, unlike Tencent's WeChat, which has separate overseas and domestic versions. Similarly, ByteDance offers Douyin for mainland China to comply with Chinese content regulations.
Executives at RedNote are eager to capitalize on the newfound attention to potentially attain global popularity like TikTok, as reported by sources. Requests for comments from RedNote went unanswered.
($1 = 7.3317 Chinese yuan)