Today on social media, there was news that "according to internal sources, Xiaohongshu is about to be acquired by Alibaba." In response, Sina Technology verified with both Alibaba and Xiaohongshu, and Xiaohongshu said, "The above information is a rumor." Alibaba did not respond as of press time. As early as 2019, there were rumors that Alibaba would acquire Xiaohongshu and that Alibaba's HRG had already entered the company. In response, Xiaohongshu executives publicly stated that "it is a rumor, and a letter has been sent to the source of the rumor, and they will be held accountable to the end." Public information shows that since its establishment in 2013, Xiaohongshu has received a total of 7 rounds of financing. Its investors in previous rounds include Tencent, Alibaba, Tiantu Investment, Zhen Fund and CITIC Capital, with a cumulative financing amount of more than US$900 million. Recently, according to foreign media reports, an internal document of Jinshajiang Venture Capital marked as March this year showed that Xiaohongshu's valuation has jumped to US$26 billion, an increase of more than 50% from US$17 billion at the end of 2023, and exceeded its historical peak of US$20 billion in 2021.