Facebook announced yesterday that the President of Paypal David Marcus would be joining their team to assume the role of Vice President of Messenger.
Facebook posted a welcome message in their newsroom, stating “David is a widely respected leader in the technology industry with a track record of building great products and finding creative ways to turn them into great businesses”.
Marcus, an entrepreneur at heart, founded his first startup GTN Telecom up at the age of 23. It was acquired by World Access in 2000. After leaving GTN, Marcus then founded Echovox which paved the way for Zong, a frictionless mobile payment service. When Zong was bought by PayPal, Marcus was appointed Vice President of the company and later named President when Scott Thompson moved to Yahoo.
Getting his hands dirty
In Paypal, Marcus made the jump from managing a small buisness with several hundred employees to leading a global company with almost 14,000 workers on the payroll. In a post on LinkedIn he explained
“The first year took its toll on me. It was hard. The second year started becoming more “natural”, and as we made progress on a number of fronts: technology, product, marketing, sales, and more importantly culture. I realized that my role was becoming a real management one, vs. my passion of building products that hopefully matter to a lot of people.”
Marcus, whose Twitter and LinkedIn profiles still say „President of PayPal“, praised his direct team at PayPal as the “most brilliant people” he has ever worked with. He said the decision was not an easy one to make but he is looking forward getting his “hands dirty” and to building “something new and meaningful”. It was Zuckerberg’s “convincing vision” for the messenger app that inspired Marcus to make the career change.
Bittersweet day. Immensely sad to leave the team I love, but excited by the journey ahead https://t.co/5dVi4whyqb
— David Marcus (@davidmarcus) 9. Juni 2014
The future of Messenger
Messenger is a core part of Facebook’s fundamental goal in connecting the world and bringing users closer together. Facebook has previously said that they won’t monetize stand alone apps until they reach 100 million users. Messenger and WhatsApp are both in good positions to lay the groundwork for monetization.
According to Facebook statistics, 12 billion messages are sent via Messenger every day and their original goal of 100 million users has been doubled.
It is widely thought that Facebook has plans to explore the potential for payments via Messenger and that Marcus will play a key role in bringing this to fruition.
Following the announcement Facebook’s shares rose 38 cents on Monday to close at $62.88, while eBay shares fell 12 cents to close at $49.58.
Feature image: HILVERSUM, NETHERLANDS – JANUARY 28, 2014: Facebook is an online social networking service founded in February 2004 by Mark Zuckerberg with his college roommates and is now a fortune 500 company. Copyright: Twin Design