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Alibaba Incentives Focus on the Little Guy, Taobao Users Up 40% in 1 Month
Alibaba Group chairman Jack Ma told staff in an internal email on Monday that senior management including vice presidents would not receive raises in 2009, reports Sina. However, the company has sufficient cash, and the majority of staff would receive pay increases and "pretty good" annual bonuses in 2009, said Ma. "We believe that company resources should flow towards the general staff in times of crisis, and a sense of urgency should be felt first among senior executives," Ma wrote.
Alibaba is targeting annual transaction volume of RMB 200 billion in 2009, reports chinanews.com.cn quoting Jack Ma. Alibaba's consumer-focused e-commerce platform Taobao has recorded 120 million registered users and averages 460,000 new registered users per day, said the chairman. The platform had 85 million registered users and daily transaction volume of RMB 300 million by December 16.
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