PYPL - PayPal To Launch Ad Business Using Customer Data Hires Former Uber Exec To Lead | Benzinga
PayPal Holdings Inc. (NASDAQ:PYPL) is set to launch an advertising business, leveraging the data of its millions of users. The company has hired Mark Grether, former head of Uber’s advertising unit, to lead this new division.
What Happened: PayPal aims to capitalize on its vast user data to create an ad sales business. The company will utilize the data it collects from tracking user purchases and broader spending behaviors to develop an ad network, reported The Wall Street Journal.
Grether, who previously led Uber’s advertising business, will serve as the Senior Vice President and General Manager of the newly-formed PayPal Ads division. He will be responsible for creating new ad formats, managing sales, and expanding the division’s team.
PayPal introduced its first ...