PayPal has struck a deal to acquire Honey, a shopping platform that offers online shoppers discounts and rewards, for $4 billion, according to a release Wednesday.
The acquisition comes as PayPal faces increased competition from tech companies such as Apple , Google and Facebook , which now offer either their own forms of payment or payment processing. PayPal is also battling stalwart credit card networks like Visa and Mastercard , which are expanding their online payment offerings. Honey Science Corporation operates as both a web browser add-on and a mobile app, offering consumers discount codes to roughly 30,000 online retailers.
The discount site features a mobile shopping assistant, tracking tools and alerts, price history information, special offers and a rewards program. Read MorePayPal, which also owns Venmo, has more than 275 million active consumer accounts and 24 million merchant accounts. Honey was founded in 2012 and is headquartered in Los Angeles. It has 17 million monthly active users, according to the release.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PayPal to buy rewards platform Honey Science for $4 billionPayment processor PayPal Holdings Inc said on Wednesday it would buy privately h...
Read more »
PayPal is buying deal-finding service Honey for $4 billion, its biggest acquisition everPayPal said Wednesday that it's buying Honey Science, which is best known for a tool that helps consumers find deals while they shop online.
Read more »
PayPal to buy shopping platform Honey for $4 billionPayPal Holdings Inc. said late Wednesday it has agreed to buy Honey Science Corp., a platform for shopping and rewards, for about $4 billion. Honey...
Read more »
PayPal plans to acquire shopping and deal-hunting platform Honey for $4 billion, its largest acquisition to date.PayPal's stock price dropped more than 2% in extended trading after the announcement.
Read more »
Peanut Butter and Honey: Shia LaBeouf’s Tonic for Toxic MasculinityA brief history of LaBeouf is necessary for contextualizing his work in 2019, starring in Tyler Nilson and Michael Schwartz’s road trip film The Peanut Butter Falcon and Alma Har’el’s Honey Boy.
Read more »
PayPal to buy rewards platform Honey Science for $4 billionPayment processor PayPal Holdings Inc said on Wednesday it would buy privately h...
Read more »