PayPal Looks To Startup Past, Product Future With Marcus As President

eBay CEO John Donahoe announced this morning that David Marcus, the former CEO and founder of mobile payments startup Zong and PayPal Mobile VP, will be taking over as PayPal's president. As you may know, former president Scott Thompson departed PayPal in January to be Yahoo's CEO. Marcus joined PayPal last year when the payments giant?acquired Zong for $240 million. Marcus stepping into the top spot at PayPal is not particularly surprising considering his extensive experience in the mobile and payments world, but it's interesting that eBay chose a Silicon Valley startup entrepreneur (as opposed to an exec with large company experience) to lead its crown jewel. We had a chance to chat with both Donahoe and Marcus about the next era of PayPal under Marcus' leadership. Donahoe explains to us "David is the right guy for the right time at PayPal. PayPal is on the cusp of an enormous opportunity and David is a product visionary," he says. "He knows how to create beautiful product experiences, and can match that with PayPal's scale."

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