Red debuts new system to improve credibility
Red or Little Red Book, an online community site with investors Alibaba and Tencent, has upgraded its user rating system, the Shanghai-based firm said.
The upgrade occurred after reports that too much content was from opinion leaders rather than normal users. Many ratings are commercially sponsored, according to media report.
Red has invited 500,000 users to contribute to its new rating system and has asked Ernst & Young to ensure the new system is fair and transparent.
Red, which has more than 250 million users, raised about US$300 million in the latest finance round in June last year, giving it a total market value of US$3 billion.
Founded in 2013, the Shanghai-based company's website and app allow users and opinion leaders to post and share product reviews, travel blogs and lifestyle stories via short videos and photos.