Despite the ongoing recession, there is one company who seems to not be affected by it at all. Apparently, social networking giant Facebook takes advantage of the current economic condition to hire the best of the best in its industry.

According to Businessweek, Mark Zuckerberg, chief executive officer of Facebook believes that the state of the current economy actually presents an opportunity for the popular networking site to expand its business by recruiting new talents.

“No one else has been hiring, it’s been a great environment for us because the economy has helped out.” Zuckerberg explains.

A few of Facebook’s new hires include:

• Arturo Bejar of Yahoo!, who will be the networking site’s new Director of Engineering,
• Open source software guru David Recordon of Six Apart, a blogging software company,
• David Ebersman of Genentech, who will be the site’s new Chief Financial Officer, and
• Greg Badros of Google, who is now one of Facebook’s engineering directors.

Although the social networking giant has initially considered a hiring freeze last November due to the sudden financial crisis that hit the economy last year, it seems like Facebook has once again became active on its hiring now that it is armed with $200 million financing from Russian company Digital Sky Technologies.

Aside from hiring new talents to ensure the company’s continued expansion, Zuckerberg has also tried to contain costs by revamping Facebook’s technology infrastructure, which can help lessen the costs of serving billions of photos stored within the networking site.

But will all these expansion strategies really pay off in the end? As Businessweek puts it, “So as Facebook uses the recession to upgrade its talent, it remains to be seen if the company can produce a payoff from the investment.”

I guess we can only wait and see.

Source: Business Week

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