PayPal president David Marcus has reportedly come to terms with Facebook and will head up the company's messenger service, a move that hints at the addition of a financial component to the social networking site's mobile messenger.
Marcus, 41, took on the role of vice president at PayPal three years ago when eBay purchased Zong, which was founded by Marcus, for $240 million. EBay coveted Marcus's mobile payments company, using both Marcus and Zong to bolster its financial arm.
Marcus was raised to president of PayPal a year after joining the company and now he prepares to buttress another vital sector of another massive company. In a Facebook post on his account, Marcus shares his thoughts on the move after meeting with Mark Zuckerberg.
"At first, I didn't know whether another big company gig was a good thing for me, but Mark's enthusiasm, and the unparalleled reach and consumer engagement of the Facebook platform ultimately won me over," stated Marcus in his Facebook post. "So ... yes. I'm excited to go to Facebook to lead Messaging Products. And I'm looking forward to getting my hands dirty again attempting to build something new and meaningful at scale."
The role Marcus will take on at Facebook hasn't been clearly defined. But his specialties, detailed on his LinkedIn profile, include "Mobile, Payments, Consumer Internet, Technology and Getting stuff done."
Marcus was also listed on his LinkedIn profile as founder and CEO of Echovox, another mobile monetization platform, which objective was described as "helping large media groups and Web companies monetize their audience through transaction-based mobile services."
During his time at PayPal, Marcus helped the company increase its volume of users by roughly 30 percent and its payment by approximately $52 billion, as per Businessweek.
Today, PayPal has more than 148 million active users and provides its services to 193 markets around the world, says eBay CEO John Donahoe, who offered well-wishes to the outgoing president of the eBay subsidiary.
"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 Donahoe. "David leaves behind a strong leadership team. They are committed to not skipping a beat on executing our plans, scaling product innovation and driving global growth. PayPal's leadership team will report to me until a new president is named."
