PayPal Announces New Leaders to Build New Advertising Platform and Accelerate Consumer Product Innovation

Rhea-AI Summary

PayPal Holdings announced new leadership appointments to develop a new advertising platform and enhance consumer product innovation. Mark Grether has joined as SVP, General Manager, PayPal Ads, and John Anderson as SVP, General Manager, Consumer Group, both reporting to Diego Scotti. Grether, with over 20 years in the advertising industry, will lead the creation of PayPal's advertising business. He previously led Uber Advertising to a $1 billion business and has also worked at Amazon and Sizmek. Anderson, with extensive experience in technology platforms and payments, will manage PayPal's consumer business, including PayPal and Venmo. He previously worked at Plaid and Meta. The new advertising platform aims to leverage PayPal's relationships with consumers and merchants to enhance advertising effectiveness and customer engagement.

Positive

• PayPal announces strategic leadership appointments to enhance advertising and consumer product innovation.
• Mark Grether, with a proven track record in advertising, joins from Uber, where he scaled Uber Advertising to a $1 billion business.
• John Anderson, with significant experience in payments and technology platforms, will oversee PayPal's consumer business.
• Grether's background includes key roles at Amazon and Sizmek, adding valuable expertise to PayPal.
• The new advertising platform aims to enhance merchant sales and personalized consumer experiences, potentially driving better advertising ROI for merchants.

Negative

• No financial data or immediate revenue projections were provided for the new advertising platform.
• New initiatives may involve significant investment costs without guarantee of immediate returns.

SAN JOSE, Calif., May 28, 2024 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced new leadership appointments that will drive the creation of a new advertising platform and strengthen the company's consumer value proposition. Mark Grether will join on May 28 as SVP, General Manager, PayPal Ads, and John Anderson has joined as SVP, General Manager, Consumer Group. Grether and Anderson will report to Diego Scotti, EVP, General Manager, Consumer Group and Global Marketing & Communications. 

Advertising Platform
PayPal's long-standing relationships with millions of consumers and merchants make the company uniquely positioned to create an advertising platform that is rooted in commerce. Grether will join the company to build an advertising business that will help make merchants smarter to sell more products and services effectively, as well as enable consumers to discover more of what they love. The advertising business, which will include PayPal advanced offers platform, will use customer insights to build a dynamic, truly personalized platform that will drive better advertising spend performance for merchants while delighting consumers with compelling offers. 

Grether has been a leader in the advertising industry for more than 20 years. He joins PayPal from Uber, where he was the Vice President, General Manager of Uber Advertising. Under his leadership, Uber Advertising grew to a $1 billion business with more than 500,000 advertisers globally. He successfully led the acceleration of the company's global advertising business, helping merchants, brands, and other advertisers reach Uber's highly engaged user base across its Mobility and Delivery divisions. Prior to Uber, Grether led the product strategy for Amazon's advertising business, and he served as CEO of Sizmek, one of the largest independent advertising platforms globally, which was sold to Amazon in 2019. Prior to Sizmek, Mark was the co-founder and global COO of WPP's Xaxis, which became a leading programmatic media company.  

"Commerce and advertising are deeply connected, and we believe that the advertising platform we are building at PayPal will become a must-use marketing channel for merchants big and small. I'm thrilled to have Mark join our team and lead this important work," said Scotti.  

Consumer Business 
Anderson has spent over 20 years at the intersection of technology platforms and payments. He will be accountable for PayPal's consumer business, including product strategy for PayPal and Venmo globally. Anderson joins PayPal from Plaid, where he was Head of Product and Payments and oversaw significant growth of Plaid's payment product suite. Prior to Plaid, John spent a decade at Meta in numerous product and leadership roles, including Head of Product for Oculus, Head of Facebook Japan, and Head of product and operations teams for Payments, Commerce, and Risk. Prior to joining Meta, John founded GroupCard, a social greeting and payments platform that was acquired by InComm. 

"John brings strong experience in developing groundbreaking, personalized consumer experiences to PayPal, which will drive relevance of our brands, fuel our innovation pipeline, and give more reasons for consumers and merchants to choose PayPal," said Scotti. 

About PayPal
PayPal has been revolutionizing commerce globally for more than 25 years. The company creates innovative experiences that make moving money, selling, and shopping simple, personalized, and secure. PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/. 

Investor Relations Contact:
investorrelations@paypal.com  

Media Relations Contact:  
mediarelations@paypal.com  

View original content:https://www.prnewswire.com/news-releases/paypal-announces-new-leaders-to-build-new-advertising-platform-and-accelerate-consumer-product-innovation-302156174.html

SOURCE PayPal Holdings, Inc.

FAQ

What new leadership appointments has PayPal announced?

PayPal announced that Mark Grether will join as SVP, General Manager of PayPal Ads, and John Anderson as SVP, General Manager of the Consumer Group.

What is Mark Grether's background?

Mark Grether has over 20 years in the advertising industry, having previously scaled Uber Advertising to a $1 billion business and worked at Amazon and Sizmek.

What role will John Anderson play at PayPal?

John Anderson will manage PayPal's consumer business, including product strategy for PayPal and Venmo globally.

What is the goal of PayPal's new advertising platform?

PayPal aims to create a dynamic advertising platform that enhances merchant sales and provides personalized consumer experiences.

When did the new leadership appointments take effect?

Both appointments were announced on May 28, 2024.