Oct 11, 2024 17:58:00

PayPal officially launches advertising service 'PayPal Ads'

PayPal has been preparing to enter the advertising business for some time,

and invited Mark Glaser, who was in charge of the advertising departments of Amazon and Uber, to become senior vice president and general manager of PayPal Ads on May 28, 2024. The official launch of PayPal Ads was announced at the advertising event ' Advertising Week New York 2024 ' held in New York in October 2024.

PayPal Ads | Accelerate your business growth | PayPal US
https://www.paypal.com/us/business/paypal-ads

PayPal Launches Its Ad Business to Pitch Shopping Data

https://www.adweek.com/commerce/paypal-launches-ad-business/

According to Adweek, a news site that covers advertising, Glaser said, 'PayPal has an incredible amount of transaction data. It's much more data than retailers have.' With retailers like Walmart and Best Buy also involved in the advertising business, it was only a matter of time before PayPal, which has a lot more data, entered the advertising business.

Glaser, who joined PayPal in May 2024, previously served as vice president and general manager of Uber Advertising, responsible for Uber's advertising business, where he worked with more than 500,000 advertisers around the world and built a $1 billion business.

In hiring Glaser, his direct supervisor, Diego Scotti, executive vice president and general manager of the Consumer Group and Global Marketing and Communications, commented, 'Commerce and advertising are deeply intertwined. We believe the advertising platform we're building with PayPal will become a marketing channel that merchants, large and small, will rely on. We're excited to have Glaser join the team to lead this important work.'

Press Release: PayPal Announces New Leaders to Build New Advertising Platform and Accelerate Consumer Product Innovation - May 28, 2024

https://newsroom.paypal-corp.com/2024-05-28-PayPal-Announces-New-Leaders-to-Build-New-Advertising-Platform-and-Accelerate-Consumer-Product-Innovation

Regarding the future of PayPal Ads, Glaser revealed that the company plans to first sell its own display ad space, and then sell video ads in 2025. It also plans to sell ads on retailers' own sites within 2025. Since millions of merchants use PayPal's technology to make payments, PayPal Ads can be used to target many customers across all merchants.

Glaser believes that ad network consolidation is inevitable in the future, as many of the retailer's ad networks simply don't have the reach or frequency to survive on their own.