Temasek and Tencent lea a $500m funding round in Xiaohongshu.

Temasek and Tencent lea a $500m funding round in Xiaohongshu, a social e-commerce app. Additional investors include Genesis Capital, Tiantu and Alibaba . Xiaohongshu, also known as RED, is a social media and e-commerce platform. It has been described as "China's answer to Instagram". Xiaohongshu also operates RED Mall, which sells international products to Chinese users.