PayPal is entering the media business with plans for a new advertising platform that will draw on its relationships with millions of consumers and merchants to help the latter “sell more products and services effectively,” according to a company statement.
To kick off the initiative, the payments platform has made two key executive hires: Former Uber Advertising and Amazon executive Mark Grether has been appointed SVP and General Manager of PayPal Ads, and John Anderson, who previously worked at fintech company Plaid, has joined as SVP and General Manager of the PayPal Consumer Group. Grether and Anderson will both report to Diego Scotti, EVP and General Manager of the PayPal Consumer Group, Global Marketing and Communications.
