eBay CEO Names David Marcus President of PayPal
By Ina Steiner
eBay CEO John Donahoe named David Marcus the new president of PayPal, effective April 2. Donahoe announced the appointment on the PayPal blog, where he wrote that Marcus would bring a "founder's perspective" and "start-up energy" to PayPal. "He’s worked closely with the entire PayPal leadership team to drive mobile to unparalleled new heights. We're going close this year with more than $7 billion in mobile payment volume. And David's helping inject new innovation - most recently with PayPal Here."
Marcus came to PayPal from Zong when eBay acquired it last year. He replaces Scott Thompson, who left PayPal abruptly in January to take the post of CEO at Yahoo.
In introducing Zong in July 2011, Thompson had written, "Zong's expertise in carrier billing means that it has the potential to reach the more than 4 billion people around the world who have mobile phones - including people who don't have (or choose not to use) bank accounts or credit cards online. By combining Zong and PayPal, we believe we can offer more services to more customers, ultimately bringing even more value to how people pay and get paid."
Marcus founded mobile payments provider Zong in 2008, and founded "mobile monetization" firm Echovox in 2000.
Donahoe wrote on Thursday, "With David at the helm, we will have an even deeper commitment at PayPal, and across eBay Inc., to be a leading technology-driven and customer-focused product innovation company. We'll continue to focus on accelerating product innovation, driving consumer engagement and creating a world where paying anytime, anywhere and any way is synonymous with PayPal."
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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