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PayPal to Launch Ad Business Using Shopper Data, Hires Former Uber Exec - WSJ

May 28, 2024, 11:30 AM

PayPal Holdings Inc. is planning to launch an advertising business by leveraging data on its millions of users, according to the Wall Street Journal on May 28, 2024. The company aims to boost growth by utilizing data generated from tracking purchases and broader spending behaviors. To spearhead this new venture, PayPal has hired Mark Grether, the former head of Uber's advertising unit, as the Senior Vice President of PayPal Ads. This strategic move is part of PayPal's broader efforts to diversify its revenue streams and capitalize on its extensive user data.