Ooh $350k, about what it costs them to hire one software engineer for a year
For $350k they'd get 2, maybe 3 tops. If you're taking low level interns, yea, they could probably get 6 ~ 8.
If you fold in the TCO (benefits, computer / chair / licenses, etc.) for a senior engineer, the $350 isn't too far off.
Of course if you include stock it was 120ish.