This story has been updated from 11:09 am EST with additional information, stock price update.
NEW YORK (TheStreet) - David Marcus' move from eBay's PayPal (EBAY) to Facebook Messenger is indicative of a power shift, according to analysts. Marcus, the former president of eBay's PayPal payments subsidiary stepped down from his position to join the Facebook (FB) team as the vice president of messaging products.
Marcus will oversee Facebook Messenger, an app featured on Facebook's desktop platform.
"After leaving a world I knew well - startups, and entrepreneurship - I joined PayPal about 3 years ago through its acquisition of my company, Zong," Marcus said in the posting. "In the first instance running mobile, and eventually the leadership role at the company... I fell in love with it, its people, and the immense opportunity ahead. Going from managing a few hundred people at best in my entrepreneurial career, I suddenly found myself leading 14,000 ... I realized that my role was becoming a real management one, vs. my passion of building products that hopefully matter to a lot of people."
Laura Martin, an analyst at Needham & Company, says this move is indicative of the turnover from PayPal to Facebook. "Facebook continues to attracted top internet talents," Martin says in an interview. "This is a long term payments upside for Facebook. While Marcus is not moving into a payments position, talent with payments background will be very beneficial to Facebook's economic future."