PayPal Expands Data Use For Non-Endemic Advertisers
Snapshot: PayPal is aiming to accelerate its growth by launching an ad network that leverages its vast user data obtained from tracking consumer purchases and spending behaviors. The company has appointed Mark Grether, previously leading Uber's advertising business, to head its new PayPal Ads division, focusing on developing ad formats and expanding sales.
PayPal's first ad product, Advanced Offers, uses AI and data to personalize promotions for merchants, charging advertisers based on consumer purchases. The company plans to extend its ad sales to non-endemic advertisers, utilizing PayPal data for targeted ads across various platforms, including websites and Connected TV.
Key quote: "If you’re someone who’s buying products on the web, we know who is buying the products where, and we can leverage the data." - Mark Grether, SVP & General Manager, PayPal Ads