PayPal, the online payment platform, announced that its chief operating officer, Bill Ready, would step down at the end of the year and join Google in January as the company’s new chief executive, prabhakar Ragavan, the senior vice president for advertising, commerce and payments, according tomedia reports. Prabhakar Raghavan reports.
Reddy’s work at Google does not involve payments, which means he will not be directly involved in PayPal’s rival, Google Pay. Instead, as Google’s new business chief, Reddy will focus on leading the company’s vision, strategy and delivery of business products. However, this work needs to be done in close cooperation with advertising and payment services.
“Reddy’s track record of outstanding experience and deep strategic partnerships for consumers is a strong complement to our team,” Mr. Lagavan said in a statement. I’m excited about the future of Google’s business business. “
“I’ve always admired Google’s mission to make the digital economy accessible to everyone,” Mr Reddy said. Google is always providing world-class business capabilities to partners of all sizes, and I look forward to continuing this mission. “
Reddy joined PayPal in 2013 when it bought braintree, the start-up, for $800 million, and became chief executive of Braintree and Venmo. Today, Braintree provides payment services to companies such as Uber, Airbnb, Facebook and Jet.com, while Venmo has more than $25 billion in transactions per quarter.