Posted on 11/28/2010 12:42:44 PM PST by libh8er
In September I wrote about Google’s “extraordinary” efforts to stop employees, particularly engineers, from resigning to join pre-IPO startups like LinkedIn, Twitter and especially Facebook. In one case we confirmed an engineer making around $150,000 turned down a 15% raise plus $500,000 in restricted stock and left for Facebook anyway.
That’s all chump change now. We’ve confirmed today that a staff engineer at Google being heavily romanced by Facebook was offered a jaw dropping $3.5 million in restricted stock by Google (this means Google is handing over stock worth $3.5 million based on its value today, and that stock will vest over time). He quite wisely accepted Google’s counter offer. Facebook lost this one.
From our previous post in September:
Sources close to Google told us that about 80% of people stay when they’re offered a counter to a Facebook offer. But some still leave. Part of that may be that 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. Now it’s a party.
Google isn’t making these kind of counter offers to everyone, but it’s not a one off, either. It seems to me that every Google engineer at least should be taking a personal day to go collect a Facebook offer. Even if it’s just to get a counter offer from their current employer.
However effective these counter offers are, they sure aren’t good for morale internally at Google. Unless, of course, you’re one of the ones winning the lottery.
hey Google, I have two semesters of FORTRAN,....how much is that worth?
I think this is great.
SuperStar pay for people who really produce SuperStar wealth
- what a concept.
What am I missing, Facebook as absolutely no content?
as=has
HEY i am on FACEBOOK and I have content...lol...
oh, how I can’t wait to see the megagiants duel face off to the death.
Isn’t Google the company disciminating against heterosexuals?
Straights get far less money for the same job than homosexuals.
With your personal information! Yeah, what a concept.
Shouldn't you get a royalty?
Isn’t Google the company disciminating against heterosexuals?
Straights get far less money for the same job than homosexuals.
gee I wonder how the latter earns the premium....
Users generate the content, which has only exploded with “Facebook questions”. Facebook makes money from Google advertisements and other advertisers.
Dare I say kickbacks?
One word - Bubble.
10 years ago, it was all about Microsoft vs Apple. In 2010, its Facebook vs Google. Curious to see what will be next.
That and $1 will buy you some JAVA.
Eloi versus Morlocks at the rate we’re going.
Very true!
$1? Not very good java at that.
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