Little Red Book has not yet responded to rumors about "old shareholders cashing out while it's hot."

ChainCatcher news, according to a report by Jinshi, citing Sina Technology, there are reports that the major shareholder of Xiaohongshu is negotiating to sell its shares, with a valuation of at least $20 billion. As the potential TikTok ban in the U.S. approaches, this deal has attracted interest from Tencent Holdings Limited and other well-known investors.

According to informed sources, Xiaohongshu's supporters GGV Capital, GSR Ventures, and Tiantu Capital are in talks to sell part of their shares. Interested investors include existing shareholders Sequoia China and Hillhouse Capital. Tencent is also considering whether to increase its stake. In this regard, Sina Technology has sought confirmation from Xiaohongshu's official representatives, but as of the time of publication, there has been no response. (Jinshi)