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Latest news and trends about tech in China
Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox.
Xiaohongshu will turn its livestream shopping business into an independent unit, local media outlet LatePost reported on Mar. 10, as part of efforts to accelerate its monetization campaign. The head of the lifestyle app’s new department will also be in charge of the firm’s community ecology.
Why it matters: Xiaohongshu’s recent adjustment indicates a push for further monetization at a time when the country’s mainstream shopping platforms have seen live commerce thrive. The move follows the recent livestreaming e-commerce success of Chinese actress Dong Jie on the platform, which demonstrated to Xiaohongshu the possibility of diversifying its revenue growth path amid uncertainty over whether the company will file for an IPO.
Details: Xiaohongshu first tested its livestreaming e-commerce feature in mid-2019, officially launching it in 2020 at a time when China was experiencing a boom in livestream selling. However, the company was initially cautious about the emerging sector, with particular concerns about its impact on Xiaohongshu’s community ecology.
Context: Live commerce is now a key driver of revenue growth for video platforms. Xiaohongshu, founded in 2013, was slower to monetize than its competitors Douyin and Kuaishou, only beginning the process cautiously in late 2019.
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Cheyenne Dong is a tech reporter now based in Shanghai. She covers e-commerce and retail, blockchain, and Web3. Connect with her via e-mail: cheyenne.dong[a]technode.com. More by Cheyenne Dong
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