Now we have confirmation on why Facebook hired PayPal’s David Marcus: Payments and Messenger will eventually “overlap,” Zuckerberg said during today’s earnings call.
When the company first announced it had hired Marcus, the former president of PayPal, the industry took it as a strong hint that Facebook was looking to monetize its messaging app. After all, Marcus joined PayPal after parent-company eBay acquired his mobile-payments startup Zong in 2011, first leading PayPal’s mobile efforts before taking the lead as president.
While monetization speculations were broad at the time, Zuckerberg’s confirmation that payments will come to Messenger someday is almost too obvious now.
But what Facebook will do with WhatsApp, a hugely popular messaging app the company acquired a few months ago, is still unclear. Facebook has maintained that it will keep it separate for the time being, but really, who knows?
The company posted a strong second quarter results today with $2.910 billion in revenue, and about $1.66 billion in mobile advertising revenue, or roughly 62 percent of Facebook’s total advertising revenue.
Facebook is the world’s largest social network, with over 1.15 billion monthly active users.
Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 w... read more »
A lifelong entrepreneur and respected product innovator with an impressive record of business success on two continents, David Marcus joined PayPal in 2011 to continue working on his long-term vision of digital payment technology that ... read more »
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