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Monday, August 24, 2009

Facebook boss: We're hiring 1,000

"Facebook Inc. plans to expand its staff by as much as 50 percent this year as it benefits from a surplus of engineers amid the recession," Bloomberg News reports, citing ceo Mark Zuckerberg, here. 

“No one else has been hiring,” Zuckerberg, the 25-year-old who cofounded the company at Harvard, told the news service.  “It’s been a great environment for us because the economy has helped out.” Facebook, based in Palo Alto, employs 1,000.

The company has been adding staff more slowly than Google Inc. did at a similar early stage, as it tries to boost ad sales to keep pace with the growing cost of keeping millions of teenagers and other users connected.

The investor-backed company claims 250 million users, but collects less than $2/user/year in gross sales revenue. Like Google's YouTube, Facebook is not profitable.

Separately: Apple Inc. bucks the retail downturn, sells more iPhones, story here.

 
Posted by Joseph N. DiStefano @ 10:15 AM  Permalink | 3 comments
Comments   
  • 0 like this / 0 don't   •   Posted 9:42 AM, 08/24/2009
    Your math is off- if they have 1000, to grow by 50% they would need to hire 500, not 1000???
    — BOB355
  • 0 like this / 0 don't   •   Posted 10:46 AM, 08/24/2009
    If they have 1000, and they hire another 1000, that's 2000. 1000 is 50% of 2000. I guess math isn't your thing.
    — scars73
  • 0 like this / 0 don't   •   Posted 11:49 AM, 08/24/2009
    Too bad they are not profitable, and never will be.. Math 2.0 doesn't work.
    — asv


3 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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