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Business and Real Estate

PayPal president departs eBay for Facebook

By June 10, 2014

NEW YORK — David Marcus, the head of eBay’s PayPal unit, is leaving the company for Facebook, where he’ll lead mobile messaging products.

EBay Inc. said Tuesday that Marcus is departing on June 27, three years after joining PayPal. Marcus says his role at PayPal was becoming too much of a management position and he preferred to focus on building products.

In a sign of its focus on mobile messaging, Facebook has agreed to buy the messaging app WhatsApp for $19 billion, a deal that has yet to close. But the company says Marcus will not oversee WhatsApp, which will be run independently. Rather, he’ll run Menlo Park-based Facebook’s own messaging products.

 

The Associated Press

The Associated Press

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