David Marcus, who has led eBay fast-growing payments unit PayPal for the past two years, will step down this month to run Facebook’s messaging products, the companies announced on Monday.
EBay shares fell a little more than 2 percent 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 USD19 billion.
(Source: Jakarta Globe )