The Deal: PayPal is building an ad network powered by its massive user base (around 400 million) and their shopping habits. This means personalized promotions and targeted ads based on your purchase history.
Why It Matters:
- Advertisers Rejoice! PayPal's vast data offers sophisticated targeting across various channels (beyond their platform). Imagine hyper-relevant ads based on your actual purchases!
- User Control: PayPal says you can opt-out of having your data used for ad targeting.
Key Players:
- Mark Grether: Formerly Uber's ad boss, he leads PayPal Ads, developing ad formats and building the sales team.
- John Anderson: Previously with Plaid, he now heads PayPal's consumer group.
Current State:
- Advanced Offers: PayPal already uses AI to show targeted discounts within its platform.
- Future Plans: Expect ads displayed on the web and connected TVs beyond the PayPal ecosystem.
Industry Context:
This follows a trend of financial giants (like JPMorgan Chase) leveraging customer data for ad revenue.
Overall: This move could revolutionize targeted advertising based on real purchasing habits. Expect more personalized promotions and ads popping up across the web (with the option to opt-out if you prefer).
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