Former White House press secretary Robert Gibbs may soon be headed to Facebook as a senior communications official for the social network giant, reports The New York Times‘ Dealbook blog. The rumored high-profile hiring comes via “people briefed on the negotiations,” and has been confirmed by neither Facebook nor Gibbs.
The alleged conversations between Gibbs’ camp and Facebook come prior to a public offering by Facebook that is said to be planned for 2012. Gibbs, who served under President Obama for two years before resigning in February, may opt to wait to jump into the private sector, and instead help build up Obama’s re-election campaign, sources say.
It’s easy to see why the lure of a job with Facebook could overpower the pull of politics: Gibbs would likely make millions of dollars with the Palo Alto, California, company. According to The New York Times‘ sources, Gibbs is vying to receive both a cash salary as well as shares in the company, which has been valued at around $65 billion. When Facebook goes public, some say it could be history’s largest stock offering.
With around 600 million users worldwide, Facebook would also give Gibbs a wider direct audience than would the President, who has a mere 308.7 million constituents who make up the US population.
Alternate headline: “Confirmed: New dotcom bubble to burst hard.”
Facebook is seeking out Mr. Gibbs ahead of an initial public offering planned for early 2012, these people said…
Facebook, however, is pressing Mr. Gibbs to consider the job more quickly, according to these people, who spoke on the condition of anonymity because the conversations were supposed to remain confidential.
A job for Mr. Gibbs at Facebook could be worth millions of dollars. While details of his potential compensation package have yet to be discussed, people briefed on the talks said that he would receive a cash salary as well as shares ahead of the initial offering. Facebook is being valued by some investors at more than $60 billion and could be the largest offering in history.
This is a guy who spent two solid years with the biggest megaphone in the world, and somehow his most memorable line involved dumping on his own base. That’s the sort of “messaging” know-how that’s worth $50 million in Facebook stock, I guess.
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