Kabbage names Scott Thompson, former president at PayPal, to board

September 27th, 2012

Scott Thompson, former president of PayPal, named to Kabbage board of directors.

Kabbage Inc., a provider of working capital for small businesses, has named Scott Thompson, CEO of ShopRunner and former president of PayPal, to its board.

Thompson is currently the CEO of ShopRunner, the leading shopping network that enables merchants to bring the best shopping services to consumers.

Prior to ShopRunner, he was CEO of Yahoo, where questions about his resume led to his resignation, although Thompson said it was due to a health issue.

Experience transcends resume flap

Marc Gorlin, chair of Kabbage tells the TechJournal, “He was unbelievable as president of PayPal and understands financial services and data science better than anyone we know. His experience and assistance far exceeds a trumped up resume flap by a disgruntled investor.”

Thompson served as the President of PayPal from 2008 to early 2012, prior to that he was PayPal’s Chief Technology Officer. While at PayPal he helped scale the company through its most rapid growth years growing it from $1 billion in revenues to $4.4 billion in revenues, and established PayPal as the leading global online payment service.

“Kabbage is rapidly reshaping the small business financing space in the same way that PayPal reshaped the payments space over the last decade,” said Scott Thompson.

“I enjoy working with, and believe I can have the most impact on, companies that are re-inventing the ways financial services are delivered to consumers and small businesses. And specifically, by working with organizations that are uncovering new and unique methods of leveraging data science to attack a massive market. Kabbage has both the opportunity and is on a trajectory to do exactly that.”

Won Entrepreneur of the Year in 2011

In 2011, Scott was awarded the Ernst & Young Entrepreneur of the Year Award for Northern California for his leadership in the Financial Services industry.

“We are thrilled to have the benefit of Scott’s passion, relationships, and experience on as part of our team,” said Rob Frohwein, CEO of Kabbage. “Scott led PayPal through its most formative and highest growth years and we will benefit from those learnings as we continue to accelerate our growth.”

Thompson joins Kabbage’s existing board of directors which includes Rob Frohwein, CEO of Kabbage, Marc Gorlin, Chairman and Co-Founder of Kabbage, Bryan Stolle, General Partner Mohr Davidow Ventures, Jonathan Ebinger, Partner Blue Run Ventures, Bruce Miller, Managing Director Stephens Inc, and Don Butler, Managing Director of Thomvest Ventures.