Monday, January 27, 2014
Acqui-hires: Good news or bad news for local entrepreneurs?
This article in the Boston Globe details a new trend in the technology startup world: acqui-hiring. Instead of a failing startup becoming a total loss, now successful technology companies are buying out companies, and hiring their most talented employees. The Globe cites the example of "Sold," a Boston startup that developed an app to help people sell their old electronic goods online. Before it tanked, Sold was acqui-hired by Dropbox, and the employees moved out to San Francisco.
The trend of acqui-hiring is a double-edged sword for Boston entrepreneurs. On the one hand, it provides struggling developers and creative minds with much-needed jobs. On the other hand, in most cases larger companies in California are moving Boston talent out West.
What do you guys think?