Source: Chinese social e-commerce app Xiaohongshu has raised a new funding round of $500M, led by Temasek and Tencent at a $20B valuation (Tracy Qu/South China Morning Post)

Tracy Qu / South China Morning Post:
Source: Chinese social e-commerce app Xiaohongshu has raised a new funding round of $500M, led by Temasek and Tencent at a $20B valuation  —  The platform known as China's answer to Instagram raised the money from existing investors after being forced to put IPO plans on hold Xiaohongshu …