BuzzFeed is doing well these days. The company raked in more than US$100 million in revenue during 2014, a figure surely worthy of a couple of list-style titles. That's a lot of money, and the company has more than 700 employees making it happen.
To incentivise those employees in the next few months, BuzzFeed's CEO is turning to Apple Watch, promising to buy every employee the as-yet-unreleased device if they hit 200 million visitors in a month and 750 million video views.
Behold the Modern Carrot
From a memo to employees published by Capital New York:
Now we are in striking distance of two other huge metrics: 1) The BuzzFeed site is poised to pass 200 million monthly unique visitors for a calendar month 2) BuzzFeed Motion Pictures is close to 750 million views in a calendar month
If we hit 200 million UVs and 750 million video views, on the *same* month, we will celebrate by buying all BuzzFeed employees worldwide an Apple Watch.
BusinessInsider, another fast-growing publication, noted that this perk would cost BuzzFeed some $245,000, and that's if everyone got the entry-level $350 Apple Watch Sport. In that the $350 price could well be only for the smaller version, BuzzFeed could spend even more. Any way you slice it, spending 0.245 percent (or more) of revenue on a one-time perk is pretty generous.
It's also interesting to see a device like the Apple Watch be used to incentivize rank-and-file employees. No one has cared one little bit about smartwatches before now, and the Apple Watch isn't even out yet. But Apple Watch topped Time's Top 10 Gadgets of 2014 and is now being used to incentivize employees.