Last month when eBay announced it would be cutting about 7% of it’s work force, or 2400 jobs, the company specifically said they weren’t doing layoffs based on geography but rather as a whole company. That meant that PayPal would see a significant impact from these layoffs.
Unfortunately, the Boston Business Journal reports that Boston Startup Community Leader David Chang is out as head of Paypal’s Boston office.
Chang has been a huge advocate for startups in the Boston area. Chang was part of the Boston based startup Where Inc which Paypal acquired in 2011 for $135 million dollars. The Boston Globe reports that Chang was the Vice President of Product at Where. When Paypal acquired Where they changed the name to PayPal Media Network and made Chang the Chief Operating Officer.
Chang told the Boston Globe that the split was amicable and that they couldn’t figure out what his role would be after they spun Paypal off later this year.
We couldn’t nail down the specifics, so I was happy to part ways with the company as part of the eBay-PayPal split,” he told The Boston Globe. “There’s no ill will from my side.”
Chang was responsible for Paypal’s internal incubator program called Start Tank that got it’s start in Boston. Start Tank gave free work space, mentoring, networking and other startup resources to about 2 dozen startups per session. The sessions ran for 6 months. Paypal has expanded Start Tank to other Paypal offices, but now the future of the incubator is uncertain.
Chang is still a catalyst for the Boston community. He has had an equity position or a leadership role in several successful startups. In other words he has the resources and time to contemplate his next move carefully. He may continue to support the Boston startup community through angel investing, or perhaps join one of the startups he currently holds a position in.