PayPal Holdings Inc. will acquire Honey Science
Corp. for about $4 Billion, it’s largest-ever acquisition, adding a startup that
amasses valuable data on consumer buying habits and doles out coupons for online
bargains.
About 17 million people use Honey apps or web
browser extensions to find discounts at online shopping sites. The start-up was
profitable in 2018. Shares of the payments giant were little changed in
extended trading. Honey is valued at almost twice what PayPal paid for its
next-largest deal, iZettle, the Swedish provider of small-business services it
purchased in 2018 and marks the first major acquisition this year.
Honey, which was founded in 2012, will keep its
base in Los Angeles, and the founders will continue to run the business. The
company’s services include a browser extension that automatically applies
coupons at e-commerce sites. Honey’s capabilities will give customers better
shopping experience, and help merchants drive sales, partly with more timely
and personalized offers.
No comments:
Post a Comment