Google has set aside $2 million in prize money for hackers who find security vulnerabilities in its Chrome web browser, with $60,000 being reserved for those who find “full Chrome exploits ” $50,000 which is offered for partial exploits, and $40,000 for non-Chrome exploits – that is, other bugs found in Flash, Windows, or a driver that are not necessarily specific to Chrome, but could cause issues for users. Google said in February that it would awards those latter prizes because it also served the company’s overall mission of “making the entire web safer.” (The prize amounts have since changed.) Incomplete exploits may also be rewarded, based on judges’ decisions.
Apart from Google there are many other companies like Facebook who offer bug bounty" to hackers who can find security issues in its products.
The hacker goes by the name "Pinky pie" , because his employer does not authorize his activity. This is the second time the teenaged reverse engineer enthusiast was able to collect the bug bounty prize from Google in less than a year. Also another interesting thing that I found is that he had sent his resume to Google last year seeking a job. He wrote in his cover note that he could crack Chrome on OSX, but he never got a reply.