SAN JOSE, Calif.--(BUSINESS WIRE)--
eBay Inc. (Nasdaq: EBAY) today announced that PayPal President David
Marcus is leaving the company on June 27 to lead Facebook's messaging
products.
"As the head of PayPal, David helped make a great business better,
reinvigorating product design and innovation and energizing the team to
deliver compelling consumer experiences," said eBay Inc. President and
CEO John Donahoe.
"An entrepreneur at heart, David has made a career decision to focus on
what he loves most - leading smaller teams to create great product
experiences," Donahoe said. "We wish him well. He leaves behind a strong
leadership team, committed to not skipping a beat on executing our
plans, scaling product innovation and driving global growth."
The company, which expects to report second quarter results on July 16,
said PayPal continues to build good momentum and is on track to meet its
guidance for 2015. PayPal's leadership team will report to Donahoe until
a new president is named.
"Leading PayPal has been one of the most amazing experiences of my
career," Marcus said. "I'm proud of what we've done together over the
past two years, reinvigorating and accelerating product innovation and
strengthening PayPal's global leadership in mobile and digital payments.
I believe PayPal is poised for long-term success in creating the future
of money. And I know the business has a strong leadership team in place.
That's why now felt like the right time to make a change and return to
how I most love to spend my time, leading smaller teams to build great
product experiences."
PayPal has more than 148 million active accounts and in 2013 processed
$180 billion in payment volume. A mobile commerce payments leader,
PayPal processed $27 billion of mobile payments volume in 2013. PayPal
accounted for 41 percent of eBay Inc. revenue in 2013.
In addition to safe, secure and easy to use online payments solutions,
PayPal is driving offline, point-of-sale payments innovation with
products such as PayPal Beacon, PayPal Here and PayPal mobile. PayPal
also is offering best-in-class merchant solutions including Credit,
small business lending products with PayPal Working Capital and simple
to integrate developer tools with its global Mobile SDK. In late 2013,
PayPal completed its acquisition of Braintree, which provides payments
for next-gen mobile leaders such as Uber, Airbnb and TaskRabbit.
About eBay Inc.
eBay Inc. (NASDAQ: EBAY) is a global commerce and payments leader,
providing a robust platform where merchants of all sizes can compete and
win. Founded in 1995 in San Jose, Calif., eBay Inc. connects millions of
buyers and sellers and enabled $205 billion* of commerce volume in 2013.
We do so through eBay, one of the world's largest online marketplaces,
which allows users to buy and sell in nearly every country on earth;
through PayPal, which enables individuals and businesses to securely,
easily and quickly send and receive digital payments; and through eBay
Enterprise, which enables omnichannel commerce, multichannel retailing
and digital marketing for global enterprises in the U.S. and
internationally. We also reach millions through specialized marketplaces
such as StubHub, the world's largest ticket marketplace, and eBay
classifieds sites, which together have a presence in more than 1,000
cities around the world. For more information about the company and its
global portfolio of online brands, visit www.ebayinc.com.
* This adjusted number reflects decision to remove vehicles and real
estate GMV from ongoing total GMV and ECV metrics (previously stated ECV
for 2013 was $212 billion, incorporating vehicles and real estate GMV).
About PayPal
PayPal is the faster, safer way to pay and get paid online, via a mobile
device and in store. The service gives people simpler ways to send money
without sharing financial information, and with the flexibility to pay
using their account balances, bank accounts, credit cards or promotional
financing. With 148 million active accounts in 193 markets and 26
currencies around the world, PayPal enables global commerce, processing
more than 9 million payments every day. PayPal is an eBay (Nasdaq: EBAY)
company and contributed 41 percent of eBay Inc.'s revenues in
2013. PayPal is headquartered in San Jose, Calif. and its international
headquarters is located in Singapore. More information about the company
can be found at www.paypal-media.com.
Forward-Looking Statements
This press release contains forward-looking statements relating to,
among other things, the future performance of PayPal that are based on
the company's current expectations, forecasts and assumptions and
involve risks and uncertainties. These statements include, but are not
limited to, statements regarding expectations regarding PayPal's
performance against the guidance set out for 2015 and the operation and
management of PayPal. These forward-looking statements involve risks and
uncertainties, and actual results could differ materially from those
discussed. Factors that could cause or contribute to such differences
include, but are not limited to: changes in political, business and
economic conditions and any conditions that affect ecommerce growth;
fluctuations in foreign currency exchange rates; the company's need to
successfully react to the increasing importance of mobile payments and
mobile commerce and the increasing social aspect of commerce; the
company's ability to deal with the increasingly competitive ecommerce
environment; changes to the company's capital allocation or management
of operating cash; the company's need to manage an increasingly large
enterprise with a broad range of businesses of varying degrees of
maturity and in many different geographies; the effect of management
changes and business initiatives; the company's need and ability to
manage other regulatory, tax and litigation risks as its services are
offered in more jurisdictions and applicable laws become more
restrictive; any changes the company may make to its product offerings;
the competitive, regulatory, payment card association-related, credit
offering-related and other risks specific to PayPal and Bill Me Later,
especially as PayPal continues to expand geographically and introduce
new products and as new laws and regulations related to financial
services companies come into effect; the company's ability to timely
upgrade and develop its technology systems, infrastructure and customer
service capabilities at reasonable cost; the company's ability to
maintain site security, stability and performance on all of its sites
while adding new products and features in a timely fashion; and the
company's ability to profitably integrate, manage and grow businesses
that have been acquired or may be acquired in the future. The
forward-looking statements in this release do not include the potential
impact of any acquisitions or divestitures that may be announced and/or
completed after the date hereof.
More information about potential factors which could affect our business
and results is included in eBay's Annual Report on Form 10-K for the
year ended December 31, 2013, its Quarterly Reports on Form 10-Q, its
Current Reports on Form 8-K, and other periodic filings. All
forward-looking statements are based on information available to eBay on
the date hereof, and eBay assumes no obligation to update such
statements.
eBay Inc.
Investor Relations Contact:
Tracey Ford
tford@ebay.com
Tom
Hudson
thhudson@ebay.com
or
Media
Relations Contact:
Amanda Miller
press@ebay.com
or
Investor
Information Request:
408-376-7493
or
Company News:
http://www.ebayinc.com/news
or
Investor
Relations website:
http://investors.ebayinc.com
Source: eBay Inc.
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