(excluding tax or any additional fees, such as shipping), in order to determine the amount of Gold points you may earn for that order. Create an account to follow your favorite communities and start taking part in conversations. What started as a browser extension has grown into a suite of free tools that help everyone shop with confidence. Analysts are calling for gains of more than 10 percent for a wide range of companies, from Apple to PayPal. 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. Deliver digital experiences that drives competitive advantage. PayPal and Amazon haven't historically worked closely together. Tom (@ttaulli) is the author of the book,Artificial Intelligence Basics: A Non-Technical Introduction. After looking over the online competitive landscape, "We think that Honey actually has the leading platform and set of capabilities around that. The Los Angeles based company was incorporated in 2012. PayPal Honey is a browser extension that automatically finds and applies coupon codes at checkout with a single click. 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. To learn more and join Honey, visit www.joinhoney.com/paypal. "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.". Honey offers an expansive suite of products and services that helps users score savings and deals as they shop online. Our commitment is clearly spelled out in our privacy and security policy. PayPal has remained at the forefront of the digital payment revolution for more than 20 years. 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. "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. Shop and Buy. 646.667.5065. Founded in 2012, Honey is best known as a popular discovery tool that helps consumers find savings as they shop online. This cookie is installed by Google Analytics. Honey would like to identify and acquire new high-value users. InvestorRelations@PayPal.com. From notifying you when a price drops, to showing you the lowest prices available, Honey provides you with the information that you need to make the best decisions with your money. The Los Angeles-based start-up was founded in 2012, and lets users find coupons while. 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. Opinions expressed by Forbes Contributors are their own. 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. The company develops toolsincluding a Chrome browser add-onthat make it easier for. 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. No idea, charge it back as unauthorized and see what happens. Calif. Analysts expect companies in the S&P 500 to report a jump in earnings for the first three months of the year. What started as a browser extension has grown into a suite of free tools that help everyone shop with confidence. This transaction will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. 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. ET, 1 Stunning Metric That Makes PayPal Stock a Screaming Buy, Nasdaq Bear Market: 3 Exceptional Growth Stocks Down More Than 60% to Buy Before They Start Soaring. This website uses cookies to improve your experience while you navigate through the website. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. It provides a broad portfolio of services to simplify the consumer shopping experience, while at the same time making it more affordable and rewarding," said Dan Schulman, president and CEO of PayPal. First of all, it should be noted that as privacy and security processes go in today's digital age, Honey's policies appear to be better than most. If you have not done so, Read our FAQ! What were the success factors? About PayPalPayPal has remained at the forefront of the digital payment revolution for more than 20 years. This appears to be Amazon's first public scrutiny of the start-up for security concerns. (AP Photo/Jeff Chiu, File). PayPal acquired Honey Science Corporation for $4 billion, its largest acquisition in company history. This would incentivize users to check their app more often, increasing user engagement on PayPal's platforms. 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 . 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. Honey is essentially automating coupons, price monitoring, and rewards for customers in a manner that is similar to how other companies are using intelligent automation to engineer and optimize business, interaction, and cognitive processes. Visit. The Los Angeles-based start-up was founded in 2012, and lets users find coupons while shopping online. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering 300 million consumers and merchants in more than 200 markets to join and thrive in the global economy. Visit www.joinhoney.com to shop smarter. Honey was profitable on a net income basis in 2018. Honey's customer base also matches up nicely with Venmo users. That adds a tremendous amount of relevance to consumers." Factors that could cause or contribute to such differences include, but are not limited to, 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. 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The combination of Honey and PayPal adds another significant and meaningful dimension to our two-sided platform.. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. 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. Their Rewards program, HoneyGold, allows users to earn cash back when they are shopping online in various stores. Their Rewards program, HoneyGold, allows users to earn cash back when they are shopping online in various stores. These cookies may also be used for advertising purposes. PayPal. Honey also has the advantage of a treasure trove of data. Like most companies we work with, Honey had hired a mediocre bookkeeper who said that they had regularly worked with startups but in actuality was in over their head. 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. Honey paves the way for PayPal to offer more value to its account holders and differentiate itself from competitors. The combination will help accelerate growth across both companies. PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it has completed its acquisition of Honey Science . 1. With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. In fact, Honey scaled extremely fast and we only changed systems after the companys revenues exceeded $100MM. did paypal just steal my money and ban me? The acquisition makes a lot of sense for PayPal given the competitive landscape, said Richie Serna, who is the CEO of Finix. Contacts Matthew Cochrane owns shares of PayPal Holdings and Square. Technology companies will be under scrutiny because thats where expectations for revenue growth are close to the highest. 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. The company does not sell users' data and does not track search engine or browser history or email usage on sites that are not retail-related. Subject to customary closing conditions, including the receipt of regulatory approvals, the transaction is expected to close in the first quarter of 2020. We'll assume you're ok with this, but you can opt-out if you wish. Josh Criscoe Honey Science Corporation is an L.A.-based tech company building tools to help people save time and money when shopping online. (NASDAQ: PYPL) announced today that it has completed its acquisition of Honey Science Corporation for approximately $4 billion in cash. Honey Science Corporation Hello, I recently found out that PayPal bought the Honey Science Corporation. 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 . Twitter sets this cookie to integrate and share features for social media and also store information about how the user uses the website, for tracking and targeting. Perella Weinberg Partners LP is acting as sole financial adviser to PayPal, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as its legal adviser with regard to the transaction. Contacts 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. They can select the products they want on Amazon, Macy's, Target, Walmart, J. What started as a browser extension has grown into a suite of free tools that help everyone shop with confidence. 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. ContactsInvestor Relations ContactsGabrielle Rabinovitchgrabinovitch@paypal.com, Media Relations ContactJosh Criscoejcriscoe@paypal.com646.667.5065, 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 This transaction will . 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. Amazon shoppers are a single click away from lower prices on their items of interest. You may opt-out by. It can find you the best prices, show you price history, automatically apply the best coupons and give you other tips! "Our goal is to warn customers about browser extensions that collect personal shopping data without their knowledge or consent such as customer name, shipping and/or billing address and payment method from the checkout page," an Amazon spokesperson told CNBC. "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. 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. 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. 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. from 8 AM - 9 PM ET. We also use third-party cookies that help us analyze and understand how you use this website. Necessary cookies are absolutely essential for the website to function properly. What started as a browser extension has grown into a suite of free tools that help everyone shop with confidence. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. Venmo.com Making the world smarter, happier, and richer. jcriscoe@paypal.com Venmo.com Despite the initial onboarding friction of installing a browser plug-in, Honey fulfills its promise of decreasing the time and energy needed to find online deals. Forward-Looking Statements Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. As a partner of choice for our merchants, this is another way that we can help them build and strengthen their customer relationships, provide personalized offers, and drive incremental sales. 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. PayPal Holdings, Inc. Acquired Party. 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