https://www.reuters.com/article/china-xiaohongshu/chinas-xiaohongshu-raises-500-million-valuation-hits-20-billion-source-idUSKBN2HT16R

Chinese social e-commerce app Xiaohongshu said it has raised a new round of financing from existing shareholders who increased their stakes in the firm, which a source familiar with the matter said valued the company as much as $20 billion.