The investment could lead to a collaboration centered around data. Alibaba would bring its tech and large customer base to the table, and Zhaopin would offer data on jobs and hiring companies.
Last month, Bloomberg reported that Zhaopin was considering a private placement worth about $500M.
SEEK, FountainVest, and Hillhouse took the classifieds company private in 2017.
Zhaopin had 4.9M average unique visitors per day in FY20, up 29% Y/Y. Net income totaled $30.6M.
Related: Yesterday, Bloomberg reported that Alibaba was eyeing a $3B investment in ride-hail giant Grab.