(NASDAQ:EBAY) EBay’s PayPal CEO joins Facebook (NASDAQ:FB) To Lead Messaging Products (Video)

Technology Stocks News 5

eBay said on Monday David Marcus, who has led eBay Inc’s fast-growing payments unit PayPal, will step down from the e-commerce company on June 27 to run Facebook messaging products. EBay shares fell about 2 percent in trading after hours. Marcus has led PayPal, which has 148 million active users, for the past two years during which the payments unit has moved more aggressively into stores and mobile devices.

Facebook has nabbed PayPal’s president in the clearest indication yet that the social media company will soon be venturing into online payments. the company announced in a press release on Monday David Marcus will lead Facebook’s messaging products. Marcus confirmed the move with a post to Facebook, which said “While I was in the middle of my thought process about what was next for me, Mark Zuckerberg and I got together.”

Following the acquisition of Whatsapp, Facebook is now looking for a strong strategy to actively monetize NASDAQ:FB leadership in the live messaging business. David Marcus should lead the way within the Facebook organization.

Facebook has appointed PayPal CEO David Marcus to head to its Messenger service. Not surprisingly, that’s got the tech industry abuzz over how the company will finally start making money from its Messenger app. One way is to start a money transfer service that puts Facebook head-to-head with Marcus’s last employer. Another is to create stickers. Cute digital icons are all the rage in Asia, and they could become bigger on Facebook‘s Messenger service if the right infrastructure is put in place by it and other services like Instagram

[grabpress_video guid=15b607b5a11f0dffe7bd024ca662dc03b9ad7589 embed_id=2151917]

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