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Content Tagged Web2.0
Yahoo: Three Weeks Away From Next Mass Exodus
We have been tracking the exodus of employees from Yahoo and have counted 114 executive-level departures since January 2007. The news isn’t going to get any better as we have learnt that of the executives remaining at the company, a large number of them are biding their time and waiting for a large vesting period that finishes up in the first week of August, the same time as the critical annual shareholder meeting.
The options grant was part of a retention initiative at Yahoo! and involved almost every employee at the company - from top executives down to the engineering level. Employees were granted options based on merit, and grants ranged from 10,000 to up to 40,000 stock options with a strike price of $9.95 and a vesting period of two years. At todays stock price of $24, these options are worth anywhere from $140,000 to $560,000 - certainly incentive enough for some employees to wait around a few more months before taking that new job with a startup, or Google or Microsoft.
We understand that there are dozens and possibly up to another 100 people in director, VP level or higher positions who are ready to leave once the bonus options vest in a few weeks time. Yahoo has long had a retention problem, and they are known to pay higher base salaries and ocassionaly write out bonus options in an effort to retain employees. They also ran a very visible recruitment campaign until recently when they initiated a hiring freeze. Our list of executives who have left the company could easily double in the next month - and another mass exodus would not bode well for the morale of the remaining employees and executives.
We understand that some of these remaining executives are only coming into the office a day or two a week, and openly searching for new jobs with competitors or other companies. The image gives a good idea of just how tough the situation inside Yahoo! is at the moment - and the challenges facing upper management with their attempts to turn the company around without the help of Microsoft.
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EventBee Tries To Take On EventBrite With $1 Flat Service Fee
EventBee, an event management service, has rolled out a new version of its site that introduces a flat $1 fee for all tickets sold. The move may well prove to disrupt this space - most competitors traditionally charge a small percentage of the ticket price rather than a flat fee. While the difference is negligible for small events where tickets are only a few dollars, coordinators of large (and pricey) conferences may flock to the new pricing scheme.
EventBee, which we originally introduced as a “AdSense for Events”, allows users to create customized pages for their events from which they can sell tickets online (the site supports Google Checkout or Paypal). The site also allows users to distribute ads for their events through its Event Network Listing, which consists of blogs that have embedded AdSense-like code.
The site has a number of competitors, such as EventBrite, a similar service that we’ve used a number of times to distribute tickets to our own events. And while EventBee’s new pricing scheme may raise some eyebrows, the site’s relatively small userbase and basic interface probably won’t have EventBrite changing its policies any time soon.
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