Document: Xiaohongshu, a TikTok alternative known in the US as Rednote, has surged to a $26B valuation based on recent market transactions via a GSR fund (Echo Wong/Bloomberg)

Echo Wong / Bloomberg: Document: Xiaohongshu, a TikTok alternative known in the US as Rednote, has surged to a $26B valuation based on recent market transactions via a GSR fund  —  The startup's price tag emerged through a document from GSR Ventures Management Co. vehicle that showed shares of the fund changing hands.