15 February 2019

Alibaba splurges on graduates in war for talent, Bloomberg says

Alibaba Group Holding Ltd. is offering 1,000 new hires as much as three times last year’s average pay in a stepped-up campaign to lure top talent, Bloomberg reported Thursday. The company is also offering stock in what  could be the biggest public listing of a technology company since Facebook Inc.’s US$16 billion share sale in 2012. The Chinese e-commerce giant is taking to campuses across the country, the latest battleground with Tencent Holdings Ltd. and Baidu Inc., the report said. China’s three biggest internet companies have announced US$3.5 billion of deals this year to win more of the country’s 590 million Web users and the US$230 billion spent annually on e-commerce and online advertising, the report said.

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