Tens of tens of millions of American customers of TikTok who’re girding for a ban of the app are migrating en masse to a different Chinese language-owned platform that has emerged instead.
RedNote, which is thought in China as Xiaohongshu, the Mandarin time period for “little red book,” is probably the most downloaded free app on the Apple App Retailer as of Monday.
The digital migration of so-called “TikTok Refugees” comes forward of the Jan. 19 deadline when TikTok might face suspension within the US except its mum or dad firm, ByteDance, divests the app.
Whereas primarily designed for Chinese language customers, the platform’s dynamic mixture of way of life content material, movies, and community-building instruments has resonated with TikTok’s displaced viewers.
“The reason there are so many Americans coming over all at once is because TikTok is about to be banned in the US,” defined WakoGeek, a brand new RedNote person, in a video.
The app provides options harking back to TikTok, together with short-form movies and interesting communities, whereas additionally standing out with its emphasis on way of life inspiration, product opinions, and procuring choices.
Throughout the COVID-19 pandemic, Pink Notice noticed explosive development amongst youthful Chinese language customers, notably girls, who now make up 79% of its 300 million month-to-month energetic customers.
Its social procuring options and deal with community-building have made it successful in each China and the US.
Pink Notice’s recognition has caught the eye of traders.
The app has raised $917 million in enterprise funding from backers like Tencent, Alibaba and Sequoia China.
In 2024, it was reportedly valued at $17 billion following a secondary share sale, and its earnings are projected to exceed $1 billion, in accordance with Bloomberg.
Regardless of being Chinese language-owned, RedNote’s rise means that customers prioritize participating content material and group over geopolitical issues.
Nevertheless, it’s necessary to notice that RedNote will not be a direct clone of TikTok.
Whereas TikTok focuses on short-form video content material, RedNote has been described as being extra much like Instagram in that it provides a broader vary of way of life content material, together with images, detailed opinions and group discussions.
This distinction could attraction to customers in search of a extra complete platform for way of life inspiration and sharing.
