Ahead of the possible TikTok ban, "TikTok refugees" are flocking to the Chinese social media app Xiaohongshu, or Red Note, with strange and fascinating consequences.

Xiaohongshu’s biggest shareholders are in talks to sell shares in the Chinese Instagram-like service at a valuation of at least $20 billion, drawing interest from Tencent Holdings Ltd. and other big names as a potential TikTok US ban approaches.

(Reuters) -Backers of China's Xiaohongshu are looking to sell a part of their stake to the likes of Tencent, among others, in a deal that could value the TikTok-rival at at least $20 billion, Bloomberg News reported on Thursday.

People are going to Xiaohongshu a.k.a. RedNote, a Chinese social app, in the midst of TikTok's impending ban. Here's what you should know about it.

With a TikTok ban set to go into effect in the U.S. on Sunday, social media users in the U.S. are migrating to Xiaohongshu, also known as ‘REDnote.’

Chinese lifestyle sharing platform Xiaohongshu (also referred as RedNote) unexpectedly climbed to the top of the US Apple

The app that Americans are flocking to as a TikTok alternative is Xiaohongshu, or RedNote, which translates to “Little Red Book.” This name carries significant historical weight, as it alludes to Mao Zedong’s Little Red Book, a mandatory collection of his quotes and philosophies that symbolized the Cultural Revolution in China.

Ahead of a potential ban this Sunday, Xiaohongshu, which is also known as Red Note or Booktok, quickly became the most downloaded free app on the U.S. App Store on Tuesday, surpassing Lemon8, a social network app that is also owned by TikTok parent ByteDance.

The Chinese app Xiaohongshu has become the most downloaded in the U.S. as TikTok users migrate due to potential bans.

As the potential TikTok ban looms, US users are migrating to Xiaohongshu, also known as RedNote, making it the top downloaded app in the US. Users, dubbed 'TikTok refugees,' have embraced the Chinese lifestyle app to protest the ban,

Originally launched in Shanghai as a shopping platform for women, Xiaohongshu has grown to become one of China’s most popular short-video apps, with more than 300 million users as of July 2024.