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.

Now that TikTok has been disabled for US users, these rival apps can help you get your fix of short-form video.

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.

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.

Chinese and American netizens are drawing closer despite the US bid to shield Americans from Chinese influence. Read more at straitstimes.com.

As Supreme Court justices ponder the future of TikTok in the United States, a growing number of American social media users have responded by moving to an unlikely alternative: Xiaohongshu, a hugely popular social media app in China.

Red hot: key facts about Xiaohongshu, the Chinese app taking the US by storm In the days leading up to a proposed US government ban on the social media platform TikTok, American users have turned to another Chinese-owned app,

Chinese social apps Xiaohongshu and Lemon8 have soared to the top two spots on Apple's iPhone charts ahead of the U.S.'s impending TikTok ban.