Facebook Inc (FB) hires PayPal head from eBay Inc (EBAY) to lead messaging products

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Facebook Inc (NASDAQ:FB) has hired PayPal President David Marcus from eBay Inc (NASDAQ:EBAY). Marcus will be leaving PayPal on June 27th to oversee Facebook’s messaging products.

“An entrepreneur at heart, David has made a career decision to focus on what he loves most – leading smaller teams to create great product experiences,” stated eBay Inc. President and CEO John Donahoe. “We wish him well. He leaves behind a strong leadership team, committed to not skipping a beat on executing our plans, scaling product innovation and driving global growth.”

eBay is going to report its second quarter results on July 16th. PayPal has been on tracking for meeting its guidance for 2015. PayPal’s leadership team will report to Donahoe until a new president is placed.

PayPal currently has over 148 million active accounts and processed $180 billion in payment volume last year. PayPal processed $27 billion of mobile payments volume in 2013. PayPal also accounted for 41% of eBay’s revenue in 2013.

“Leading PayPal has been one of the most amazing experiences of my career,” said Marcus. “I’m proud of what we’ve done together over the past two years, reinvigorating and accelerating product innovation and strengthening PayPal’s global leadership in mobile and digital payments. I believe PayPal is poised for long-term success in creating the future of money. And I know the business has a strong leadership team in place. That’s why now felt like the right time to make a change and return to how I most love to spend my time, leading smaller teams to build great product experiences.”

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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