Insight Trading: David Marcus, President of eBay-owned payment services company, PayPal, Is to join Facebook.
Tokyo, Japan., June 11, 2014 - (PressReleasePoint) - 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 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.
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Insight Trading is one of the nation's leading managers of investment products and strategies, leveraging the company's extensive resources in addition to the in depth knowledge of our highly experienced wealth managers, to financially benefit our diverse client base.
Since Insight Trading was formed in 2004, one of their primary objectives was to redefine the perception of conventional brokerages across the globe by providing their clients with first class service, unparalleled investment opportunities in addition to superlative investment professionals.
Insight Trading has continually been a pioneer within the financial services arena, advising their clients on strategic transactions, capital markets, and providing diverse investment opportunities for individuals, corporate and institutional investors alike.
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