$PayPal(PYPL)$ 这公司是我去年看好的票里面唯一没有deliver的，故事很好，业绩不配合，最近两个季度TPV增速压力，显示可能在线上场景丢失份额（？）。最近一周多股价突然开始有所起色，昨天公司发布了广告管理平台，让其中小商家客户可以在他们的网站上自动展示广告并获取相应的广告费用，同时中小商家也可以利用这个平台做广告，有点类似PayPal运营的广告联盟？买回观察仓看看。问题是PayPal是否能够守住原来的支付基本盘，TPV高于或者持平大盘增速，第二，Venmo的货币化速度。第三，广告能带来多少增量？
“Ads Manager is PayPal’s latest foray into the advertising business, an effort that accelerated when the company hired Grether last year to lead PayPal Ads. The new ad-management platform builds on the Storefront Ads service released earlier this year, which allows merchants to place ads on third-party sites with a “Buy with PayPal” link.
Small businesses can opt in to Ads Manager and select their ad preferences, and PayPal will automatically place and serve relevant ads on their platforms. The businesses would then receive revenue from advertisers directly through PayPal. Merchants can also use the tool to run their own campaigns.
The platform will be available in early 2026 in the U.S., followed by the United Kingdom and Germany, the company said.”