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Alibaba Eyes Stake in Online Job Ads Company Zhaopin.com

September 16, 2020 0:27 am

Beijing (PingWest)—Alibaba, the Chinese e-commerce giant, may invest hundreds of millions of dollars in Zhaopin.com, one of China'a largest online recruitment advertising company, according to The Information.

The possible new investment could lead to collaborations that combine Alibaba’s technology and vast customer base with Zhaopin.com’s data on companies and jobs, said the report.

In January this year, Alibaba signed a strategic cooperation agreement with Zhaopin.com to jointly build a hiring service platform for cross-border trade talents.

Founded in 1997, Zhaopin.com is mainly to provide one-stop professional human resources services for large companies and fast-growing SMEs. The company went public in NYSE in 2014 and was privatized by SEEK, FountainVest and Hillhouse in 2017.

Last month, Bloomberg reported that Zhaopin.com was considering a private placement worth about $500 million.

The company had 4.9 million average unique visitors per day in FY20, a year-on-year increase of 29%, and net income totaled $30.6 million.