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The digital payments company plans to build an ad sales business around the reams of data it generates from tracking the purchases as well as the broader spending behaviors of millions of consumers who use its services, which include the more socially-enabled Venmo app.
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“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. Consumers who use the PayPal credit card would also provide the company with data from real-world bricks-and-mortar stores, he added.
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