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PayPal President Leaves eBay Inc. to Join Facebook Inc.

The PayPal division of eBay (NASDAQ: EBAY  ) announced today, along with Facebook (NASDAQ: FB  ) , that PayPal President David Marcus will be leaving to head Facebook's mobile messaging platform.

David Marcus. Source: Facebook.

Marcus joined PayPal in 2011 and served as the vice president of its mobile payments business before he was named president in 2012. 

"David reinvigorated product design to deliver compelling consumer experiences and energized the team to make a great business better," eBay CEO John Donahoe said in the announcement of Marcus' departure.

Facebook says its users send more than 12 billion messages every day and that more than 200 million people every month use Messenger, its standalone mobile app.

In its own press release, Facebook says it is "excited by the potential to continue developing great new messaging experiences that better serve the Facebook community and reach even more people, and David will be leading these efforts."

eBay said Marcus will remain with the company through the end of June, and while his successor has not yet been named, Donahoe said that Marcus "leaves behind a strong leadership team" and that the group is "committed to not skipping a beat on executing our plans, scaling product innovation, and driving global growth."

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  • Report this Comment On June 09, 2014, at 6:19 PM, foolsmate wrote:

    Bye David, real shame you had to go as PayPal was the only bit of the eBay conglomerate that Donahoe hadn't managed to screw up yet.

    Any chance of finding him a job as well before the eBay stock price completely tanks?

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Patrick Morris

After a few stints in banking and corporate finance, Patrick joined the Motley Fool as a writer covering the financial sector. He's scaled back his everyday writing a bit, but he's always happy to opine on the latest headline news surrounding Berkshire Hathaway, Warren Buffett and all things personal finance.

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