PayPal is building an ad network based on your Venmo data
Image: Hugo Herrera / The Verge
PayPal is launching an advertising platform built on a trove of customer transaction data. The company’s new advertising business will encompass purchase information and customer spending habits from PayPal and its sister app Venmo, according to The Wall Street Journal.
PayPal has brought on Mark Grether, the former vice president and general manager of Uber Advertising, to lead its advertising business. “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,” Grether said in a statement to the WSJ. He also said that PayPal will receive shopping data from customers using its credit card in stores.
A PayPal spokesperson tells the WSJ that the company will collect data…
