26 April 2017
visit nextgenbanking.co.uk

PayPal president Marcus quits for Facebook

10 June 2014  |  5443 views  |  1 David Marcus PayPal CEO

PayPal president David Marcus has quit the eBay unit to run the mobile messaging business at Facebook.

Marcus will leave PayPal at the end of June, a little over two years after stepping up to the position of president. EBay president John Donahoe will take charge of PayPal until a new president is found.

Marcus arrived at PayPal in 2011 as head of mobile after the payments giant paid $240 million for Zong, the firm he founded in 2008 that enabled users to make online purchases for virtual goods using their mobile phones.

In a Facebook post, Marcus says that after the experience of managing a major company with thousands of employees, he has decided to return to "something that is closer to what I love to do every day", adding "I'm looking forward to getting my hands dirty again attempting to build something new and meaningful at scale".

In his newly created role, he will oversee the Messenger service within Facebook as well as the Messenger mobile app but not the recently-acquired WhatsApp.

Marcus's appointment will inevitably invite speculation about Facebook's interest in payments as it seeks to monitise its Messanger app, which is used by 200 million people a month but does not display ads.

Says a Facebook statement: "We're excited by the potential to continue developing great new messaging experiences that better serve the Facebook community and reach even more people, and David will be leading these efforts."

Comments: (1)

A Finextra member
A Finextra member | 10 June, 2014, 16:51

Wow, I am sure his co-workers will miss him.  Lucky Facebook!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

In latest Twitter tirade, Agrawal threatens to share PayPal boss Marcus's texts

In latest Twitter tirade, Agrawal threatens to share PayPal boss Marcus's texts

06 May 2014  |  4335 views  |  1 comments | 2 tweets | 3 linkedin
PayPal boss Marcus softens stance on NFC but insists BLE will win out

PayPal boss Marcus softens stance on NFC but insists BLE will win out

23 April 2014  |  9882 views  |  5 comments | 14 tweets | 29 linkedin
Facebook seeks European e-money license for remittance play

Facebook seeks European e-money license for remittance play

14 April 2014  |  10373 views  |  1 comments | 22 tweets | 25 linkedin
Crooks swipe PayPal chief Marcus's card data for shopping spree

Crooks swipe PayPal chief Marcus's card data for shopping spree

11 February 2014  |  6318 views  |  8 comments | 10 tweets | 7 linkedin
Facebook tests mobile commerce system

Facebook tests mobile commerce system

15 August 2013  |  8575 views  |  0 comments | 9 tweets | 7 linkedin
PayPal names mobile man David Marcus president

PayPal names mobile man David Marcus president

29 March 2012  |  6624 views  |  0 comments
PayPal to acquire mobile payment company Zong

PayPal to acquire mobile payment company Zong

07 July 2011  |  10399 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit vasco.com/news/PSD2-compliant-solutionsvisit dh.com

Top topics

Most viewed Most shared
hands typing furiouslyDoes the Buck Stop with GameStop?
17172 views 0 | 3 tweets | 14 linkedin
hands typing furiouslyBitcoin ETF Bites the Dust, Needs More Sec...
12110 views 0 | 7 tweets | 7 linkedin
BBVA runs live funds transfers over RippleBBVA runs live funds transfers over Ripple
11773 views comments | 31 tweets | 20 linkedin
Alipay and WeChat near $3 trillion payments milestoneAlipay and WeChat near $3 trillion payment...
9910 views comments | 35 tweets | 38 linkedin
Coinbase plans Ethereum messaging appCoinbase plans Ethereum messaging app
9004 views comments | 14 tweets | 15 linkedin

Featured job

to 120K base, £300K ote, stock options
London, UK

Find your next job