Bloomberg News
Marcus is leaving PayPal on June 27 to lead the social network's mobile messaging business. Facebook said in February that it is acquiring messaging startup WhatsApp Inc. for $19 billion, and it has tried other 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,' EBay Chief Executive Officer John Donahoe said in a statement announcing Marcus's departure.
Facebook said in a statement that the Menlo Park, California-based company is 'incredibly excited to work together with David' and emphasized that messaging is a core part of Facebook's service. The company didn't elaborate on whether Marcus's responsibilities would include WhatsApp after the deal is closed.
EBay's PayPal was recently targeted by activist investor Carl Icahn, who agitated for the San Jose, California-based company to spin off the payments business. Icahn and EBay settled the proxy fight in April. PayPal has more than 148 million active accounts and processed $180 million in payment volume last year.
'I believe PayPal is poised for long-term success in creating the future of money,' said Marcus in the statement. 'And I know the business has a strong leadership team in place.'
To contact the reporter on this story: Brian Womack in San Francisco at bwomack1@bloomberg.net
To contact the editors responsible for this story: Pui-Wing Tam at ptam13@bloomberg.net Jillian Ward
Posted by Unknown on Monday, June 9, 2014 - Rating: 4.5
0 comments "EBay's PayPal Head Marcus Quits to Join Facebook"
Post a Comment