Facebook hires PayPal

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Tuesday, June 10, 2014

NYT: The social network hired eBay's PayPal president, David Marcus, to lead the expansion of its messaging products.

“Messaging is a core part of Facebook’s service and key to achieving our mission of making the world more open and connected,” Facebook said in its announcement about Mr. Marcus’s new role.

In his three years at PayPal, Mr. Marcus helped turn the payment service into a business that processed $180 billion in transactions last year and accounted for 41 percent of eBay’s revenue.

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