According to Chinese media, Chinese e-commerce service 360buy.com is gearing up to hire 20,000 new employees next year, including 5,000 new graduates and 1,000 software engineers. That’s on top of the 13,000 employees that the company already has under its payroll.
In the current e-commerce scene in China, hiring boatloads of people might be cause for concern given recent updates we’ve been hearing about Groupon’s staff cuts in the country. But 360buy appears confident and ready to expand, so we’ll have to wait and see how this announcement pans out.
We mentioned just a few weeks back, of course, that 360buy is preparing for what could be the biggest ever internet IPO. Reuters has said that the company could raise as much as $4 to 5 billion if it were to go public.
360buy is the second biggest business-to-consumer website in China after Alibaba’s Tmall, according to recent numbers from iResearch. For the second quarter, Tmall is said to hold almost half the market at 48.5 percent, while 360buy has 18.1 percent (see chart below).
360buy has over 15 million registered users and has already seen investment from Russia’s DST.
[Via The Economic Times]
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