The Chinese company ByteDance caught up in the price of SpaceX Elon musk
The Chinese company ByteDance Technology Co. estimated at $20 billion and already caught up in price well-known Corporation, SpaceX, owned by Elon musk. The company spares no money, constantly luring to afford the best specialists, their salaries can reach $ 3 million.
ByteDance Technology Co. is the brainchild of an entrepreneur named Zhang IMing. The most famous companies have brought the mobile app called Jinri Toutiao or Тoday”s Headlines, which brings together news and videos from hundreds of media. For five years the application has become one of the most popular news services in the world. Use them every day 120 000 000 people.
This year Jinri Toutiao expects revenue of approximately $2 500 000 000, much of which is advertising.
Because of recruiting around Beijing, the company constantly raises a number of scandals. ByteDance poach the best employees of giants such as Baidu Inc. and Tencent Holdings Ltd., sometimes increasing their salaries by 50% and giving them stock options.
The company’s founder Zhang King said that the main advantage of our company is “Unlimited salary for unlimited possibilities”.
According to people who deal with recruiting companies ByteDance Technology Co., the best employees can earn $1 million and bonuses for the year, plus various benefits. The total amount of wages exceeding $3 million. Zhang declined to comment on specific figures, saying that most employees prefer to receive cash instead of shares.
It is part of the personnel of the war in the most prestigious areas. Senior engineers often receive in China a salary of $ 1-2 million, though most of it up action.
At the same time, Toutiao is extremely vulnerable. Unlike other start-UPS in China, he is not allied with any of the three largest Internet companies, Tencent, Baidu or Alibaba Group. Now these three giants are actively developing their own news programs to surpass Toutiao.
Recall, we recently told you that Microsoft drove Coca-Cola out of three of the most valuable brands in the world.
Source: ukrinform.ua
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