Honey Science

Honey Science is the online service providing discounts, coupons and services in a price comparison on the Internet. Also it allows to make lists of purchases and grants the participation right in the loyalty program. Notifications go to users to browsers through expansions for them. The startup is founded in 2012.

Performance Indicators

2018: Revenue in $100 million

In 2018 revenue of Honey Science reached $100 million. Revenues of the company grow more than for $100 million annually, and in the 2019th, as expected, they will make $200 million.

History

2019: PayPal purchased Honey for $4 billion

On November 21, 2019 PayPal announced acquisition of Honey for $4 billion. It is the largest purchase for the American payment system.

As reported in PayPal, this transaction will lead to consolidation of the developed payment network and popular services Honey that will allow to increase sales of online stores. Besides, merge of PayPal and Honey will be profitable both for consumers, and for both companies.

PayPal announced acquisition of Honey for $4 billion

By November, 2019 about 30 thousand online stores and also services on the goods delivery and food were connected to Honey. The active audience makes 17 million people a month. In 2018 through Honey consumers received discounts for total amount of $1 billion.

Honey provides full range of services for shopping process simplification, at the same time making it more available and useful — the head of PayPal Dan Shulman said.

According to him, merger of Honey will help PayPal "play more significant role in everyday life of our consumers".

It is supposed that purchase of Honey will allow PayPal to sustain the competition to Apple, to Google, Facebook and other companies which entered the market of electronic payments.

Cofounders of Honey Dzhord Ruan and Ryan Hudson will continue to manage the company as a part of PayPal when the transaction is closed. The headquarters of Honey will remain in Los Angeles.^[1]

Notes