News: eBay's PayPal unit chief steps down to join FB

C-Suite

eBay's PayPal unit chief steps down to join FB

David Marcus, who has led eBay Inc’s fast-growing payments unit PayPal for the past two years, will step down this month to run Facebook Inc’s messaging products, the companies announced on Monday. EBay shares fell a little more than 2 per cent in trading after hours. Under Marcus, PayPal has moved more aggressively into the physical world by developing a mobile wallet for consumers as well as point-of-sale systems for retailers. The move marks Facebook’s latest effort to bolster its private messaging features as it faces competition from a new crop of popular mobile messaging services such as Snapchat and Line. In February, Facebook stunned observers by announcing plans to acquire messaging service WhatsApp for $19 billion.

David Marcus, who has led eBay Inc’s fast-growing payments unit PayPal for the past two years, will step down this month to run Facebook Inc’s messaging products, the companies announced on Monday. EBay shares fell a little more than 2 per cent in trading after hours. Under Marcus, PayPal has moved more aggressively into the physical world by developing a mobile wallet for consumers as well as point-of-sale systems for retailers. The move marks Facebook’s latest effort to bolster its private messaging features as it faces competition from a new crop of popular mobile messaging services such as Snapchat and Line. In February, Facebook stunned observers by announcing plans to acquire messaging service WhatsApp for $19 billion.

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Topics: C-Suite, #Current, #International

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