Xiaohongshu’s biggest shareholders are in talks to sell shares in the Chinese Instagram-like service at a valuation of at least $20 billion, drawing interest from Tencent Holdings Ltd. and other big names as a potential TikTok US ban approaches.

Xiaohongshu, which has been described as China’s answer to Instagram, allows users to post photos, videos and text and is known for its female-heavy user base.

TikTok has resumed operations in the US following a shutdown overnight on Saturday, after the incoming US president Donald Trump pledged to “save TikTok” by delaying the proposed ban.

RedNote, or Xiaohongshu, became the most downloaded iPhone app in the US on Monday.

TikTok is still three days away from a likely ban in the United States, but many users are already bidding the app farewell and seeking out alternatives.

Backers of China's Xiaohongshu are looking to sell a part of their stake to the likes of Tencent , among others, in a deal that could value the TikTok-rival at at least $20 billion, Bloomberg News reported on Thursday.

Several social media apps have appearing high in app store chart rankings as a potential U.S. ban hangs over the heads of TikTok and its American users.

Here's what you need to know about Xiaohongshu. It is a lifestyle social ... blocks internationally popular platforms like Instagram and X. Even TikTok blocks users in China, directing them ...

As TikTok users flock to RedNote, there are several considerations, including the privacy of your data. Here’s what you need to know.

The Chinese app Xiaohongshu has become the most downloaded in the U.S. as TikTok users migrate due to potential bans.

As self-described " TikTok refugees" pour onto the Chinese social media app RedNote, also known as Xiaohongshu, some foreign netizens are already running up against the country's extensive censorship apparatus. Newsweek reached out to Xiaohongshu with a request for comment via a general contact email address.