Facebook hires PayPal President David Marcusto head its Messaging Products division

Facebook hires PayPal President David Marcusto head its Messaging Products divis

Former entrepreneur David Marcus, the president of eBay's PayPal division, has been hired by social network Facebook. Announcing the hiring of Marcus, Facebook said in a Monday statement that Marcus will shoulder the responsibility for the company's Messenger chat application which has recently been spun off as a separate service.

Confirming his appointment by Facebook, Marcus said in messages posted on LinkedIn and Facebook June 9 that he will quit executive management at PayPal to join Facebook. Marcus said that he would be heading Facebook's Messaging Products division; and will, hence, get back to product management.

Marcus had joined PayPal when his mobile payments start-up, Zong, was acquired by the online payment firm, where he eventually oversaw as many as 14,000 employees. With regard to the job switch from PayPal to Facebook, Marcus said that he had missed being an entrepreneur leading a small group of employees.

In the message posted on LinkedIn and Facebook, Marcus said that he realized that his job at PayPal was turning out to be a real management role, though his passion was mainly in "building products that hopefully matter to a lot of people."

Marcus also said that he was initially apprehensive about joining another big company like Facebook, and added: "But Mark's (Facebook CEO Mark Zuckerberg) enthusiasm, and the unparalleled reach and consumer engagement of the Facebook platform ultimately won me over."

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