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ICYMI, the TikTok party has moved to RedNote, with U.S. users driving the Chinese app to #1 in the App Store this week.
But is RedNote a sustainable, 1:1 solution to a world without the FYP? Not quite.
Here’s what to know:
- RedNote is not “China’s TikTok.” It’s more like a combination of Pinterest and Instagram with short-form videos. Douyin, TikTok’s Chinese counterpart, is a separate app.
- RedNote is still run by its creators. It was founded in 2013 by Miranda Qu Fang and Charlwin Mao, who still lead the company as president and CEO. Originally a PDF shopping guide, it evolved into a $17 billion social media and e-commerce platform.
- RedNote has a massive and engaged user base. It boasts 300 million users, primarily young women, making it a significant player in the social media space. High-profile investors like Tencent, Alibaba, and GGV Capital have backed the company, with IPO discussions underway.
- RedNote is experiencing rapid U.S. growth amid TikTok ban concerns. In just two days, over 700,000 U.S. users have joined RedNote, increasing downloads by more than 200% year-over-year.
- RedNote is subject to Chinese data laws. Like TikTok, RedNote is governed by Chinese data regulations. The app collects user data, such as IP addresses, browsing habits, and locations, which can be shared with third parties or authorities.
Read the full post at Fast Company.
