Sources Contact Advanced Search Tutorials

An Interest In:

Web News this Week

Search Archive

Some of Our Sources

View All Sources

Help Webnuz

Referal links:

October 6, 2017 04:00 pm

Beijing Startup Offers Engineers $1M Salary Plus Options in Battle For Talent

An anonymous reader shares a Financial Post report: Beijing ByteDance Technology is the brainchild of entrepreneur Zhang Yiming. The company is best known for a mobile app called Jinri Toutiao, or Today's Headlines, which aggregates news and videos from hundreds of media outlets. In five years, the app has become one of the most popular news services anywhere, with 120 million daily users. Toutiao is on pace to pull in about US$2.5 billion in revenue this year, largely from advertising. It was just valued at more than US$20 billion, according to a person familiar with the matter, roughly the same as Elon Musk's SpaceX. In China, the Beijing company is controversial because of its recruiting. ByteDance hires top performers from such giants as Baidu and Tencent Holdings, sometimes raising salaries 50 per cent and tossing in stock options. "Our philosophy is to pay the top of the market to get the best," says the slight 34-year-old in an interview at the company's headquarters, his first with foreign media. "The company that wants to achieve the most, you need the best talent." Top performers can make US$1 million in salary and bonus a year, plus options, according to people familiar with its hiring. Total compensation can exceed US$3 million.

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot