Insight Trading: PayPal president, David Marcus is to leave to join social media company Facebook to head up its Messenger application and other mobile messaging projects but will not include the WhatsApp subsidiary which the company
acquired earlier this year for $19 billion.
Mr. Marcus will be tasked with devising a way to generate revenue from a Messenger app which currently produces no income for the Menlo Park, California-based company.
"Messenger is Facebook's mobile-messaging app which up until very recently, was incorporated into the core Facebook app used on smartphones. Facebook decided it wanted to make the app standalone and has been encouraging users to download it separately if they wish to continue using it," said an Insight Trading technology analyst.
Mobile messaging is becoming an increasingly more competitive arena as more users rely on the various apps to communicate on the move. Messenger competes with others like WeChat, LINE, snapchat - visit the next document
, and others.
"Securing Marcus is a major coup for Facebook and a high-profile Silicone Valley defection that serves to highlight just how much importance the company places on mobile messaging's place in its future," said the Insight Trading analyst.
Marcus enjoyed three years of success at PayPal where he increased the company's active accounts by more than 30% to almost 150 million users. The company also significantly grew payment volumes to more than $52 billion after Marcus was named president in 2012.
"If there's one person who can find a way to monetize Facebook's Messenger, it would almost certainly be Marcus," concluded the Insight Trading strategist.About Insight Trading:
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