最新交易显示：小红书估值已达260亿美元

Core Insights - Xiaohongshu's valuation has surged to $26 billion, driven by a recent transaction through GSR Ventures, marking a significant increase from the previous valuation of $20 billion [1] - The platform's valuation has surpassed its historical peak during the COVID-19 pandemic, providing strong momentum for its anticipated IPO this year [1][5] Valuation Details - Xiaohongshu accounts for 91% of GSR IV fund's assets, with a net asset value of approximately $2.44 billion as of March 31, where Xiaohongshu's stake is valued at $2.22 billion [1] - The valuation is based on private transactions, which often have a wide range due to the nature of secondary market negotiations [4] Market Context - Xiaohongshu has gained attention as a potential alternative to TikTok amid the latter's regulatory challenges in the U.S., leading to increased interest from American users [2] - The Chinese government's support for private enterprises and relaxed regulations in the tech sector have created new investment opportunities for platforms like Xiaohongshu [2] Investor Landscape - Xiaohongshu's investor base includes prominent firms such as GGV Capital, ZhenFund, Tiantu Capital, and GSR Ventures, with limited partners comprising major global pension funds and university endowments [7] - GSR Ventures, managing $3.7 billion in assets, has a history of investing in notable companies like Didi Chuxing and Horizon Robotics [7]