LOS ANGELES: With last week’s news that WorldSpy and FasTV have joined the ranks of floundering dot-com start-ups, agencies and corporate PR departments are chomping at the bit over the talent that seems likely to gravitate in their direction.
LOS ANGELES: With last week’s news that WorldSpy and FasTV have
joined the ranks of floundering dot-com start-ups, agencies and
corporate PR departments are chomping at the bit over the talent that
seems likely to gravitate in their direction.
Just a year ago, Internet upstarts began raiding large corporations and
PR firms for communications pros, luring away even senior execs at
blue-chip companies and top-10 agencies with the promise of instant
wealth via stock options. But Nasdaq’s April tumble, a host of delayed
IPOs and a recent wave of high-profile failures have taken the bloom off
the dot-com rose.
According to Silicon Valley executive recruiter Susan Flesher, who
specializes in hi-tech PR and marketing positions, e-commerce and
Internet start-ups have definitely fallen out of favor.
’The delay in IPOs has caused more candidates to be gun-shy of the
dot-coms and has led candidates to do more due diligence,’ she
’One search I am doing is for a Kleiner Perkins company that has no
marketing director, and we are having a very hard time filling it.’
Marin County-based PR recruiter Barry Shulman also believes the
profession is on the crest of a giant wave.
’Within the past six weeks, I’ve gotten calls from four companies that
had recently made high-level PR hires but are now closing the doors and
looking to outplace these executives,’ he said. ’So many of these
companies are now dressing themselves up for acquisition, and our
challenge is to figure out which ones are legitimate places to work.
With all that in mind and stock options looking more and more worthless,
we’re now proselytizing that agencies make perfect sense for many
So far, most PR firms have yet to experience the predicted windfall of
returning staff. While BSMG’s San Francisco office has recently hired
two former dot-commers, others said they had only received resumes and
’Because I was the PRSA president in Los Angeles last year, I tend to
get a lot of inquiries from people looking for jobs. And lately, I’ve
seen a number of people who had gone to a dot-com at one time looking to
get out,’ said Durazo Communications president Dan Durazo. ’It seems
logical that they would be applying to agencies, since that’s where they