As TikTok heads towards a potential ban in the United States, the rush to find another short video app is gaining momentum. Xiaohongshu, or RedNote in English has took off in the US and is currently at the number 1 spot in Apple App Store’s free app rankings in the country.
What is RedNote?
RedNote features a Pinterest-like design and is popularly considered the Chinese alternative to Instagram. The social media app was started back in 2013 by Charlwin Mao Wenchao and Miranda Qu Fang as a shopping guide for Chinese tourists and currently boasts over 300 million monthly active users, as per a Bloomberg report.
Reportedly, the app took off during the younger Chinese population during the pandemic. It has also raised around $917 milllion venture funding till date with many notable names in the backing including Tencent, Alibaba, ZhenFund, DST, HongShan and Temasek, TechCrunch reported.
The app enjoyed success by employing a strategy of using influencers to sell products to millions of people with products tagged when they scroll the photos and videos. RedNote is on track to double its profits to over $1 billion in 2024, while an IPO may also be in the works.
Why is TikTok getting banned in US?
TikTok is facing a ban in the US due to a bipartisan law passed in the US Congress back in April that requires the Chinese company to sell or face a ban in the country by January 19. The bill was brought in owing to the privacy and national security challenges linked to the app’s linkages with China. Lawmakers had argued then that the Chinese government could exploit TikTok to spy on Americans and carry out covert influence operations.
If TikTok’s US arm isn’t sold by Jan 19 or the deadline isn’t extended, the app will likley be removed from Google’s Play Store and Apple’s App Store.
