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Chinese social media sensation Xiaohongshu wins major foreign VC backing

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Xiaohongshu, China’s fastest-growing social media platform, has gained the backing of venture capital firm DST Global in a rare example of foreign investors putting money into a tech sector it has largely shunned since a Beijing crackdown. The photo and video-sharing platform, wildly popular with female city dwellers, arranged stake sales of existing shares in recent weeks t...

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