what you might want to know in regards to the app TikTok customers are flocking to By Reuters
BEIJING (Reuters) – Chinese language social media app RedNote has been thrust into the limelight after greater than half one million TikTok customers not too long ago joined the platform in protest in opposition to a probable imminent ban on the brief video app in america.
Recognized by its Chinese language title “Xiaohongshu” in China, the platform is a well-liked way of life app the place customers doc their lives and submit suggestions.
Listed here are some particulars in regards to the app:
WHAT IS THIS APP?
RedNote is usually thought to be a localised adaptation of Instagram in China. Its Chinese language title Xiaohongshu interprets to “Little Pink E book” in English, a phrase which historically refers to a set of sayings by Chinese language Communist chief Mao Zedong.
It’s extensively thought to be the go-to search engine nowadays in China for suggestions and the preferred subjects on the app span magnificence, style, journey and meals. Its customers in China are principally younger and feminine.
Its interface is totally different from TikTok or Instagram in that it shows a number of posts – both video, photographs or longer-form texts – concurrently.
Customers are capable of have interaction in discussions, share their posts, name one another and buy merchandise. The platform has not too long ago been making a giant push into livestreaming gross sales.
As of 2023, it had greater than 300 million month-to-month energetic customers, in accordance with Chinese language media reviews.
WHO OWNS REDNOTE?
The app was co-founded by Miranda Qu, its present president, and Charlwin Mao, its CEO, in 2013 in Shanghai. They initially known as the app “Hong Kong Buying Information” and focused Chinese language vacationers searching for suggestions exterior the mainland.
RedNote is seen as a possible IPO candidate. Shareholders embrace Chinese language tech giants Alibaba (NYSE:) and Tencent, Singapore state investor Temasek in addition to enterprise capital companies GSR Ventures, DST World, and GGV Capital.
Mao has private wealth of some 18 billion yuan ($2.5 billion) whereas Qu has a fortune of 12 billion yuan, in accordance with China’s Hurun wealthy record.
DOES IT HAVE GLOBAL AMBITIONS?
The app is especially utilized by Chinese language individuals and whereas customers have the choice to alter the app’s language, a lot of the content material up to now has been in Mandarin.
The inflow of TikTok customers has appeared to catch RedNote without warning. Two sources accustomed to the corporate stated they have been scrambling to search out methods to average English-language content material and construct English-Chinese language translation instruments.
RedNote maintains just one model of its app, fairly than splitting it into abroad and home apps. In distinction, Tencent runs abroad and home variations of its WeChat app whereas ByteDance additionally has a model of TikTok for mainland China known as Douyin, partly to adjust to Chinese language authorities moderation guidelines.
The corporate is eager to mine the sudden rush of consideration, as executives see it as a possible path to attaining world reputation just like TikTok’s, the sources stated. RedNote didn’t reply to a request for remark.
($1 = 7.3317 )
