PayPal adds a director

By Troy Wolverton
Staff Writer, CNET News

Silicon Valley Bank Chairman John Dean has joined the board of directors of online payments company PayPal, the company said Friday. Dean, also a director or adviser to organizations such as the European Technology Fund, Leapfrog Ventures and Garage.com, is the eighth member of PayPal's board.

The Palo Alto, Calif.-based company lost $32.4 million on $29.2 million in revenue in the third quarter, and is gearing up for an initial public offering in which it hopes to raise up to $63.3 million.

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