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Rumor: 360Buy to Add 20-25K New Hires

Chongqing Economic Times, 12/27/11

On December 26, Liu Qiangdong, CEO of Beijing-based B2C e-commerce platform 360Buy, announced on his microblog account that the company will employ 25,000 new employees in 2012.

Liu's announcement led to speculation that 360Buy had purchased Chinese B2C clothing website Vancl. However, a spokesperson for 360Buy responded saying Liu had made mention in mid-2011 of plans to hire 20,000 new staff in 2012, however what their purpose will be has not been made clear.

Both companies have denied speculation that Vancl has been purchased and Liu has since deleted his earlier announcement from his microblog account.

Keywords: M&A Liu Qiangdong Vancl e-commerce Internet B2C 360buy HR apparel

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