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VisitPayPal 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.
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Markets
Yes • 50%
No • 50%
PayPal financial statements or press releases
Yes • 50%
No • 50%
Publicly available user growth data from PayPal's quarterly reports
No • 50%
Yes • 50%
Major news sources and social media sentiment analysis
Below 3% conversion rate • 33%
3% to 5% conversion rate • 34%
Over 5% conversion rate • 33%
Independent marketing and conversion rate studies or PayPal reports
Outperforms Amazon • 25%
Outperforms Google • 25%
Outperforms Facebook • 25%
Underperforms All • 25%
Industry reports and financial analysis
Formal investigation • 25%
No intervention • 50%
Warning issued • 25%
Legal documents, government press releases