David Marcus

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David Marcus
Occupation Head of Calibra
Employer Facebook
Location Menlo Park, California
Personal Twitter @davidmarcus
LinkedIn Profile

David Marcus is the head of Facebook's venture into cryptocurrency called Libra. He is also the head of Calibra, the fully-owned Facebook subsidiary which provides a wallet for Libra.

Marcus became the face of Libra during two days of testimony to the House Financial Services Committee and the Senate Committee on Banking, Housing and Urban Affairs of the U.S. Congress on July 16 and 17, 2019, where Facebook faced a largely skeptical and critical reception.[1]

Early Years

Marcus was born in Paris, France, and grew up in Geneva, Switzerland.[2]

He was hired in 2011 at PayPal, a subsidiary of eBay, when eBay acquired Zong, Marcus's Geneva, Swtizerland, startup. Zong provides micropayment services, mostly for the online gaming industry.[3] Marcus was made president of PayPal one year later. As president there, Marcus acquired the internet payments company, Venmo.[4]

Zong had not been Marcus's first start-up. In 2000 he sold an internet company that he had started called GTN Telecom, having dropped out of the University of Geneva in 1996. He went on to found Echovox, a technolgoy company that let media companies make money over mobile phones.[5]

Facebook Career

Marcus left PayPal in June 2014 to head up messaging at Facebook.[6] While heading up messaging, Marcus expanded the product range to include, among other things, Messenger for Kids. During his tenure, Messenger added payment features as Facebook promoted it as a tool for commerce. Messenger also tried to develop a personal assistant but it never competed effectively with Amazon's Alexa.[7]

While vice-president for messaging at Facebook, Marcus was named to the Board of Directors of Coinbase in December 2017, amid the sharp run-up of bitcoin prices late that year.[8] Marcus was named head of blockchain research at Facebook in the following May. The new research group was small but consisted of a wide range of expertise.[9] He stepped down from his role at Coinbase in August 2018 in light of the potential for conflicts of interest.[10]