TECH CRUNCH – Aug 16 – After losing long-time Googler Benjamin Ling to social network Badoo, Google is seeing another exec head to the UK site. This time, Jeff Hardy, who was Head of Global Partnerships for Google+ Local, is leaving the company to join Badoo as VP of Partnerships and M&A.
by Leena Rao
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Badoo is turning over executives pretty fast. Demands and are high. Lets see how long this batch lasts.
Badoo is turning over executives pretty fast. Demands and are high. Lets see how long this batch lasts.
Well I’m glad you said it – completely agree, most people seem to last 12-18 months. It seems to be a classic issue of founders wanting the big exit, but not willing to step back enough and leave the management to run the business.
They pay well over market rates then seem to burn through the staff – who then leave and realise they’re going to need to take a pay cut as they’ve been monstrously overcompensated for their role.
I fear they may have left it too late to exit now – their only option is an IPO as this requires less due diligence than a trade sale and they might be able to sneak it through.
Ross
Well I’m glad you said it – completely agree, most people seem to last 12-18 months. It seems to be a classic issue of founders wanting the big exit, but not willing to step back enough and leave the management to run the business.
They pay well over market rates then seem to burn through the staff – who then leave and realise they’re going to need to take a pay cut as they’ve been monstrously overcompensated for their role.
I fear they may have left it too late to exit now – their only option is an IPO as this requires less due diligence than a trade sale and they might be able to sneak it through.
Ross
Certainly interesting to watch them run away from the pack but without seeing their CAC, marketing spend, churn and other metrics, I remain skeptical of their long-term prospects. Site is stale, lots of fake placement of women in the top exposure bar, many people reporting fake profiles, little to offer people used to traditional dating sites, so where is the value?
Badoo is an almost-perfect attempt to cater to the lowest common denominator: lazy people who don’t care about quality.
Ross, having worked on a few, I can tell you that an IPO requires an enormous about of due diligence and effort, much more than a trade sale.
Certainly interesting to watch them run away from the pack but without seeing their CAC, marketing spend, churn and other metrics, I remain skeptical of their long-term prospects. Site is stale, lots of fake placement of women in the top exposure bar, many people reporting fake profiles, little to offer people used to traditional dating sites, so where is the value?
Badoo is an almost-perfect attempt to cater to the lowest common denominator: lazy people who don’t care about quality.
Ross, having worked on a few, I can tell you that an IPO requires an enormous about of due diligence and effort, much more than a trade sale.