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. PayPal will host a conference call to discuss the transaction at 2:00 p.m. Pacific Standard Time (PST) today. Contacts Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from the statements made, and, accordingly, readers should not place undue reliance on forward-looking statements and information. This would incentivize users to check their app more often, increasing user engagement on PayPal's platforms. Learn More. Honey currently works across approximately 30,000 online retailers ranging from fashion and technology, to travel and pizza delivery. 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. 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. About HoneyHoney Science Corporation is an L.A.-based tech company building tools to help people save time and money when shopping online. 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. 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. Visit www.joinhoney.com to shop smarter. More Resources. Amazon shoppers are a single click away from lower prices on their items of interest. 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. 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. If you have not done so, Read our FAQ! Personal. 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's vision has always been to give consumers the tools they need to make the best decisions with their money," said Ruan. Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from the statements made, and, accordingly, readers should not place undue reliance on forward-looking statements and information. 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. The company develops toolsincluding a Chrome browser add-onthat make it easier for. Here's Why PayPal Will Have a Better Year in 2023, 2 Top Stocks in Warren Buffett's Secret Portfolio to Buy Now and Hold Forever, 3 Reasons Tesla Stock Is a No-Brainer Buy in 2023, Social Security: 4 Big Changes Washington Wants to Make, Warren Buffett Is Raking in $4.84 Billion in Annual Dividend Income From These 6 Stocks, Better Buy in 2023: Apple Stock vs. Amazon Stock, Join Nearly 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. 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. Reddit and its partners use cookies and similar technologies to provide you with a better experience. The acquisition is expected to be accretive to PayPal's non-GAAP earnings per share in 2021. Investor Relations Contacts About PayPalPayPal has remained at the forefront of the digital payment revolution for more than 20 years. Visit. I recently got charge a $17 charge I was wondering if anyone knew why and if it'll be reoccurring. 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. 646.667.5065, Amanda Coffee Calif. Analysts expect companies in the S&P 500 to report a jump in earnings for the first three months of the year. Honey also collects data from its users that might prove to be valuable to PayPal. You may opt-out by. With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. Honey gives PayPal the capability, through its various price-tracking and coupon-aggregation tools, to give consumers notifications when items they are watching go on sale or when they receive a personalized offer from one of their favorite sellers. 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. This can then be expanded to other stages with similar patterns of usage. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. This week PayPal announced that it paid $4 billion for Honey Science, a startup that was launched in 2012. It also has a competing discount plug-in. 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. 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. "We'll have the ability to help millions of retailers efficiently reach consumers with offers that deliver more and more value to Honey members.". This transaction will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. Understanding which users are likely to generate more LTV would enable Honey to better target customers with advertising as well as determine how to optimally allocate marketing spend to different user LTV tiers. When Honey started to grow, it was having a hard time finding the right investors and venture capitalists to support their vision. In addition, an archive of the webcast will be accessible for 90 days through the same link. Josh Criscoe JoinHoney.com, Advances PayPal's leadership in digital commerce, Enhances PayPal's value proposition with an extensive set of consumer commerce capabilities, Drives increased sales and conversion for PayPal's merchants, (Newsroom Ad tile) Small Business Spotlight, Diversity, Inclusion, Equity and Belonging. Isn't honey supposed to be free? About HoneyHoney Science Corporation is an L.A.-based tech company building tools to help people save time and money when shopping online. grabinovitch@paypal.com, Media Relations Contact Honey would like to identify and acquire new high-value users. Honey Science Corporation Hello, I recently found out that PayPal bought the Honey Science Corporation. With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. About PayPal Honey has continued to grow and evolve, expanding its suite of products and services to include a mobile shopping assistant, offers and rewards program, and price-tracking tools and alerts. 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. Shop and Buy. 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. *Average returns of all recommendations since inception. 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. From the onset, Punch helped Honey to create financial statements that helped tell their story. Growth in multiple markets, different revenue streams, and healthy margins were obvious from reading the financial statements. Honey Science Corporation. The Motley Fool owns shares of and recommends Apple, PayPal Holdings, and Square. (NASDAQ: PYPL) announced today that it has completed its acquisition of Honey Science Corporation for approximately $4 billion in cash. These cookies may also be used for advertising purposes. Yet more players continue to crowd the space, most notably from Apple Pay, Square's Cash App, and Zelle. LinkedIn sets this cookie to remember a user's language setting. About PayPal To succeed, companies have to create a similarly customer-centric strategy and leverage robust data and marketing automation platforms to better serve their audience and build the kind of brand loyalty Honey currently enjoys. To make the world smarter, happier, and richer. Honey can use the customer segmentation model to identify which users land at a late stage more often than others and focus their attention on them. 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. PayPal has remained at the forefront of the digital payment revolution for more than 20 years. 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. With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. Honey co-founders George Ruan and Ryan Hudson will continue to lead the Honey team as part of PayPals global consumer product and technology organization, reporting to Senior Vice President John Kunze. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Sign up for free newsletters and get more CNBC delivered to your inbox. Founded in 2012, Honey is best known as a popular discovery tool that helps consumers find savings as they shop online. 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. Founded in 2012, Honey is best known as a popular discovery tool that helps consumers find savings as they shop online. Got a confidential news tip? 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