Photo: Fat Joe
Facebook is recruiting like crazy right now and Google is doing everything it can do to hang on to employees.TechCrunch’s Mike Arrington says the company offered one employee a 15% raise and $500,000 retension bonus. The employee turned it down and went to Facebook anyway.
Mike says Facebook successfully poaches 1 in 5 Googlers it approaches.
Google is having a hard time hiring and hanging-on to employees probably because it’s stock is fairly flattish these days. Google is completely dependent on search for its revenues and the search business is rapidly maturing. Google has acquired 25 companies in the past year in large part because it’s found that’s the best way for it to hire entrepreneurial employees.
Meanwhile, Mike says Facebook is “quietly telling people, never in writing, that there’s no reason their stock won’t hit $100 billion in total valuation over the next couple of years.”
“No guarantees, yadda yadda, but hey if you get 1/10 of 1%, that’s $100 million in stock.“
At the same time, Facebook is doing everything it can to diversify its business ahead of any IPO (which could still be as long as 36 months out.)