Google beware, Facebook has more positions to fill

Two big names sit atop the social networking heap: MySpace and Facebook. Facebook is set on growing and is adding seasoned executives from very well-known players in the internet world to make its growth happen.

To fund its growth and give it the needed capitol to hire seasoned managers away from giants like Google required significant funds. Part of these funds came from Microsoft in late 2007 when it invested $240 million in Facebook. Estimates put the revenue generated by Facebook at $150 million per year with the majority of that income stemming from online advertising. However, reports claim that Facebook is spending more than it is making at this time.

Facebook doesn’t expect to be in the red for long and it grabbing serious managerial talent like the former Google star Sheryl Sandberg, the executive responsible for managing the $15 billion behemoth that is Google’s online advertising business. Sandberg took the chief operating officer spot with Facebook.

Sandberg’s departure pushed Google’s stock price to its lowest point in a year. Facebook has its sights set on more than managerial talent and has been hiring away some of Google’s best engineers like Benjamin Ling as well.

Google and other internet companies might want to be sure their key employees are happy; Forbes reports that Facebook is on the prowl again looking to fill a few more key positions within the company.  Facebook is looking to hire a new general counsel and a vice president of communications and public policy.

The one spot that isn’t open at Facebook right now is the top spot. Founder and CEO Mark Zuckerberg intends to hold on to the job, though he has admitted in the past the CEO spot was harder than he imagined. The 23-year-old Zuckerberg has by all accounts performed well as the CEO of Facebook taking the company from a startup to a valuation at the time Microsoft bought in of $15 billion.

Whether or not Zuckerberg remains the best man for the CEO position at Facebook remains to be seen. A recent report found that social networking sites like Facebook needed to become more useful to really make money.

History shows that internet companies that start off with the founder as CEO tend to need more experienced leaders as time goes by. Good examples of this are Google, Yahoo and eBay. All three companies saw their founders step down and more seasoned leaders step into the CEO spots. Facebook may find that it needs a new leader if it is to become more useful in the future.

"It looks like the iPhone 4 might be their Vista, and I'm okay with that." -- Microsoft COO Kevin Turner

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