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Alibaba completed an investment in Xiaohongshu.

Synopsis

Alibaba, a Chinese multinational technology company, completed an investment in Xiaohongshu, a China-based social e-commerce business. Financial terms were not disclosed. The Shanghai-based company closed a $300m series D financing at a valuation more than $3bn in 2018. The round was led by Alibaba and other investors, including GSR Ventures and Tencent Investment.

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