Internet News

Tencent celebrates its 18th birthday with HK$1.7 billion giveaway to employees

Tencent
Share on Facebook
Tweet about this on TwitterShare on Google+Share on StumbleUponShare on LinkedInPin on PinterestShare on Reddit

Talk about the best companies to work in. Chinese firm Tencent has definitely boosted the number of job application it will receive next year, thanks to the unique way it celebrated its 18th birthday. The company has given out stocks to each of its employees, spending a massive, $220 million in the process.

Yup. The Chinese tech behemoth recently celebrated its 18th birthday. The company decided to mark the very special occasion by celebrating it with each of its 30,000+ employees. All Tencent employees are receiving 3,00 shares apiece to mark the occasion. Considering that it is the most valuable company listed on the HongKong  3,00 Tencent shares are worth somewhere around HK$60,000 ($7,735).

And each of the company’s 31,557 employees are receiving it, making the giveaway worth somewhere around $220 million. Talk about surprise bonuses! As per Reuters, the shares will be given to employees in three batches over a period of three years that starts from next week.

Apart from this very generous giveaway, the Chinese firm’s coming of age was also marked by virtual “red envelopes” containing amounts ranging from 188 yuan to 1,888 yuan. Tencent founder and chairman Pony Ma has been giving away these envelopes to current and former employees and contractors on WeChat on Friday. While the exact amount given away through these red envelopes isn’t confirmed, the company had prepared 30 million yuan worth of gift money.

The giveaway comes even as Chinese e-commerce behemoths are benefiting from a shopping splurge that came on Singles day. Tencent rival Alibaba is leading the charge with sales worth over $14 Billion. The company is expected to pull in over $20 Billion by the end of the shopping frenzy.

The giveaway has also spawned many jokes over the internet. For example:

(Alibaba founder) Jack Ma’s employees are busy sweating over-time, Pony Ma’s employees are busy counting cash.

Interestingly enough, this also highlights the growing trend among huge, profit generating corporations to focus some of their attention on employee satisfaction.

A bibliophile and a business enthusiast.

[email protected]


Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *