This announcement contains "forward-looking" statements within the meaning of applicable securities laws. What started as a browser extension has grown into a suite of free tools that help everyone shop with confidence. You must click the activation link in order to complete your subscription. What started as a browser extension has grown into a suite of free tools that help everyone shop with confidence. Amid ad delivery issues, market saturation, etc., cost per user acquisition tends to fluctuate on the independent channel level. (NASDAQ: PYPL) announced today that it has completed its acquisition of Honey Science Corporation for approximately $4 billion in cash. Sign up to receive the latest news to your email. What started as a browser extension has grown into a suite of free tools that help everyone shop with confidence. A live webcast of the conference call, together with a slide presentation, can be accessed through the company's investor relations website at https://investor.paypal-corp.com. A spokesperson for Honey said the extension "is not and has never been a security risk and is safe to use. Create an account to follow your favorite communities and start taking part in conversations. For more information, visit paypal.com. Visit. About HoneyHoney Science Corporation is an L.A.-based tech company building tools to help people save time and money when shopping online. Now that it can be combined with PayPal's ease-of-payment capabilities and exposed to the latter's 275 million consumer accounts, it could become one of the most valuable e-commerce properties today. PayPal said it expected Honey to be accretive to its non-GAAP earnings by 2021, and while it's hard to project Honey's 2019 revenue total from this information, it's safe to say that PayPal paid a steep premium to acquire the company. However at this time such a call may be frutile, though you can keep trying. SAN JOSE, Calif., Jan. 6, 2020 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it has completed its acquisition of Honey Science Corporation for approximately $4 billion in cash. This transaction will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. Founded in 2012, Honey is best known as a popular discovery tool that helps consumers find savings as they shop online. Read more. Punch worked hard with the founders and management team to truly understand their cost of goods sold and how to improve their gross margins. I recently got charge a $17 charge I was wondering if anyone knew why and if it'll be reoccurring. The acquisition is expected to be accretive to PayPals non-GAAP earnings per share in 2021. PayPal Holdings, Inc. announced that it has agreed to acquire Honey Science Corporation, a rapidly-growing technology platform for shopping and rewards, for approximately $4 billion. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. PayPal paid $4 billion for Honey in December the largest acquisition in the payment company's history. 1. A live webcast of the conference call, together with a slide presentation, can be accessed through the company's investor relations website at https://investor.paypal-corp.com. Keep in mind that Honey has about 17 million MAUs (Monthly Active Users) and 30,000 online retailers, generating more than $1 billion in savings during the past year. The PayPal Rewards Program (the "PayPal Rewards Program", formerly known as the Honey Gold Program) is offered by PayPal to PayPal Honey accountholders via the PayPal Honey mobile app, https://www.joinhoney.com, the PayPal Honey extension made available to PayPal Honey users participating in the PayPal Rewards Program, and such other channels . "We're thrilled to complete this transformative transaction and to welcome the Honey team to the PayPal family," said Dan Schulman, president and CEO of PayPal. The acquisition supports PayPal and Honey's shared mission to simplify and personalize shopping experiences for consumers while driving conversion and increasing consumer engagement and sales for merchants. I charged that back just today so I'm still waiting but they gonna run me my money back. Forward-looking statements may be identified by words such as "seek", "believe", "plan", "estimate", "anticipate", expect", "project, "forecast", or "intend", and statements that an event or result "may", "will", "should", "could", or "might" occur or be achieved and any other similar expressions. Source: PayPal. 3 5 Related Topics PayPal Financial services Financial sector Business Business, Economics, and Finance 5 comments Best Add a Comment Following the acquisition, Honey will retain its headquarters and brand in Los Angeles, California. SAN JOSE, Calif., Jan. 6, 2020 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it has completed its acquisition of Honey Science Corporation for approximately $4 billion in cash. "We'll have the ability to help millions of retailers efficiently reach consumers with offers that deliver more and more value to Honey members.". With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. And lastly, to do that, they built a great team. Customers who have buried themselves in pages of Google search results in the past looking for working promo codes can now instantly identify and apply them using Honey. Most importantly, it helps consumers past that important question, am I getting a good deal? The concept of loyalty, cash back, and coupons is not new to performance marketing, but both consumers and advertisers have been looking for an alternative to the status quo.. For more information, visit paypal.com. Honey was profitable on a net income basis in 2018. In fact, Honey scaled extremely fast and we only changed systems after the companys revenues exceeded $100MM. This transaction will . This transaction will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. The combination will help accelerate growth across both companies. Drives increased sales and conversion for PayPal's merchants SAN JOSE, Calif., Nov. 20, 2019 / PRNewswire / -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that it has agreed to acquire Honey Science Corporation, a rapidly-growing technology platform for shopping and rewards, for approximately $4 billion. Honey Science Corporation provides Honey, an online service that automatically finds coupon codes for the website users are shopping at and apply them to their order when they check out, saving money and coupon searching time. Venmo.com ET Judging by its largest acquisition ever, PayPal believes it can capture. Acquisition of Honey Science Corp. for US$4 billion Dec 31st, 2020 PayPal becomes the first foreign company to own 100% of a payment platform in China Jan 11th, 2021 $242 billion in Bitcoin assets are traded on the PayPal platform Jan 8th, 2021 PayPal invests in TaxBit, a company specialized in cryptocurrency fiscality Dec 2020 Average Discount. This transaction will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. Analysts are calling for gains of more than 10 percent for a wide range of companies, from Apple to PayPal. PayPal expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. No one here can fix that or offer solutions. Please note that with the current CoVid-19 crisis that support is very limited at PayPal. This category only includes cookies that ensures basic functionalities and security features of the website. To learn more and join Honey, visit www.joinhoney.com/paypal. While Honey's latest metrics were not provided to investors, PayPal management did state Honey's full-year 2018 revenue was more than $100 million, representing a growth rate of more than 100% while also being profitable. PayPal was once a part of Amazon competitor eBay, and Amazon does not accept PayPal as an option in check-out. The Motley Fool owns shares of and recommends Apple, PayPal Holdings, and Square. You may opt-out by. These cookies do not store any personal information. More information about these and other factors that could adversely affect PayPal's results of operations, financial condition and prospects or that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in PayPal Holdings, Inc.'s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (the "SEC"), and its future filings with the SEC. PayPal has remained at the forefront of the digital payment revolution for more than 20 years. "PayPal shares that vision and together we can build powerful commerce capabilities that create real value for both consumers and retailers around the world. With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. More information about these and other factors that could adversely affect PayPal's results of operations, financial condition and prospects or that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in PayPal Holdings, Inc.'s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (the "SEC"), and its future filings with the SEC. Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Heads-up new paypal scam - Fake Invoice + email. They wanted to leverage Machine Learning to intelligently comb through their millions of users and then identify high-value ones. You also have the option to opt-out of these cookies. To learn more and join Honey, visit www.joinhoney.com/paypal. Our commitment is clearly spelled out in our privacy and security policy. "We're thrilled to complete this transformative transaction and to welcome the Honey team to the PayPal family," said Dan Schulman, president and CEO of PayPal. Materiality Assessment & Stakeholder Engagement, http://www.prnewswire.com/news-releases/paypal-completes-acquisition-of-honey-300981363.html. PayPal for You. Sign up to receive the latest news to your email. Schulman states that almost 40% of all e-commerce transactions are triggered by an outside event, such as a personalized offer or limited-time deal. The joining of the internet's oldest (and most well-known) payment system with affiliate's latest success story is indicative of how the Affiliate . [email protected]. . (AP Photo/Jeff Chiu, File). 408.221.1984. Image source: PayPal Holdings. Honey, in combination with PayPal's two-sided network, will transform the shopping experience . Analytical cookies are used to understand how visitors interact with the website. Venmo.com The company has announced it will acquire Honey Science Corporation, a shopping discount and rewards platform. And the most fastidious buyers have been conditioned to look for Honey's Best Deal indicator before making their purchases. PayPal CEO: Consumer spend is still strong and we are not seeing a recession, During the height of the holiday shopping season, Amazon warned some users that the browser extension Honey could be a "security risk.". LinkedIn sets this cookie to store performed actions on the website. Forward-looking statements may be identified by words such as "seek", "believe", "plan", "estimate", "anticipate", expect", "project, "forecast", or "intend", and statements that an event or result "may", "will", "should", "could", or "might" occur or be achieved and any other similar expressions. Honey also has the advantage of a treasure trove of data. On November 20th, the news of PayPal's significant purchase of Honey, the internet's fastest growing consumer loyalty platform, sent shockwaves throughout the affiliate community. Factors that could cause or contribute to such differences include, but are not limited to, the timing and possible outcome of security holder and regulatory approvals in connection with the transaction, the possibility that the transaction may not close, the reaction to the transaction of Honey's customers and business partners, the reaction of competitors to the transaction, the retention of Honey's employees, PayPal's plans for Honey, economic and political conditions in the global markets in which PayPal and Honey operate, the future growth of PayPal's and Honey's businesses and the possibility that integration following the transaction may be more difficult than expected. PayPal was once a part of Amazon competitor eBay, and Amazon does not accept PayPal as an option in check-out. PayPal Market Cap $79B Today's Change (-0.73%) -$0.51 Current Price $69.26 Price as of December 16, 2022, 4:00 p.m. 646.667.5065, Amanda Coffee A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface. The forward-looking statements contained in this announcement speak only as of the date hereof. "The addition of Honey to our platform enables a significant step forward in our commitment to provide powerful services and tools for merchants and consumers, move beyond our core checkout proposition and significantly enhance the shopping experience for our 300 million consumers and merchants.". Corporate Announcements PayPal Completes Acquisition of Honey SAN JOSE, Calif., Jan. 6, 2020 / PRNewswire / -- PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it has completed its acquisition of Honey Science Corporation for approximately $4 billion in cash. Venmo.com JoinHoney.com, (Newsroom Ad tile) Small Business Spotlight, Diversity, Inclusion, Equity and Belonging. Technology companies will be under scrutiny because thats where expectations for revenue growth are close to the highest. The strategy has clearly worked, as PayPal now boasts more than 300 million active accounts that use its platforms to make about 40 transactions per year. So how did Honey create such a strong platform? With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. PayPal has remained at the forefront of the digital payment revolution for more than 20 years. This convenience with Honey's price-tracking and discount-finding capabilities already formed a potent combination for shoppers. These cookies are used to enable you to share pages and content that you find interesting on our websites through third party social networking and other websites. Matthew Cochrane owns shares of PayPal Holdings and Square. For more information, visit paypal.com. Forward-Looking StatementsThis announcement contains "forward-looking" statements within the meaning of applicable securities laws. More information about these and other factors that could adversely affect PayPals results of operations, financial condition and prospects or that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in PayPal Holdings, Inc.'s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (the "SEC"), and its future filings with the SEC. What started as a browser extension has grown into a suite of free tools that help everyone shop with confidence. Amazon has a beef with the start-up PayPal recently acquired, Honey. Isn't honey supposed to be free? Necessary cookies are absolutely essential for the website to function properly. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. ContactsInvestor Relations ContactsGabrielle [email protected], Media Relations ContactJosh [email protected], View original content to download multimedia:http://www.prnewswire.com/news-releases/paypal-completes-acquisition-of-honey-300981363.html, For investor inquiries, please send us an email at PayPal Holdings (PYPL -2.05%) recently announced its largest acquisition ever, that of Honey Science Corporation, to the tune of $4 billion. Honey co-founders George Ruan and Ryan Hudson will continue to lead the Honey team as part of PayPal's global consumer product and technology organization, reporting to Senior Vice President John Kunze. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. The acquisition is expected to be accretive to PayPal's non-GAAP earnings per share in 2021. PayPal expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. They can then weed out the less active users afterward. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. To build this platform, the company raised a relatively small amount of venture capital:$49 million. 2. PayPal will host a conference call to discuss the transaction at 2:00 p.m. Pacific Standard Time (PST) today. Their Rewards program, HoneyGold, allows users to earn cash back when they are shopping online in various stores. Honey makes a commission off each sale and has ushered in 17 million users. Visit www.joinhoney.com to shop smarter. Forward-looking statements and information relate to future events and future performance and reflect PayPal's expectations regarding the impact of this transaction on PayPal's and Honey's financial and operating results and business, the operation and management of Honey after the acquisition, and the timing of the closing of the acquisition. Technology companies will be under scrutiny because thats where expectations for revenue growth are close to the highest. As the press release stated, "The acquisition supports PayPal and Honey's shared mission to simplify and personalize shopping experiences for consumers while driving conversion and increasing consumer engagement and sales for merchants.". The forward-looking statements contained in this announcement speak only as of the date hereof. 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