Intermediaries for a Win-Win transaction PayPal cannot earn the transactional fee if the buyer does not complete a purchase. The forward-looking statements contained in this announcement speak only as of the date hereof. 1. Josh Criscoe PayPal was once a part of Amazon competitor eBay, and Amazon does not accept PayPal as an option in check-out. Technology companies will be under scrutiny because thats where expectations for revenue growth are close to the highest. You can sign up for additional alert options at any time. 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. I recently got charge a $17 charge I was wondering if anyone knew why and if it'll be reoccurring. Bots perform the massive computational tasks that are requiredand present the subsequent actions or data to humans for more subjective decision-making.. "To keep your data private and secure, uninstall this extension immediately.". This transaction will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. Technology companies will be under scrutiny because thats where expectations for revenue growth are close to the highest. 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. So how did Honey create such a strong platform? YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data. Venmo.com 646.667.5065. This transaction will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. HSR Annual Reports; HSR Resources; Early Termination Updates on Twitter; Early Termination Updates by email; Premerger Notification Office Blog Posts; Premerger/HSR Press Releases; With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. Gabrielle Rabinovitch Honey Science Corporation Hello, I recently found out that PayPal bought the Honey Science Corporation. These demographics overlap not only with Venmo but also with PayPal's core platform. Well have the ability to help millions of retailers efficiently reach consumers with offers that deliver more and more value to Honey members.. Forward-Looking StatementsThis announcement contains "forward-looking" statements within the meaning of applicable securities laws. 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. Invest better with The Motley Fool. Founded in 2012, Honey is best known as a popular discovery tool that helps consumers find savings as they shop online. Merchants don't mind paying this fee, because Honey can demonstrate that its platform increases sales conversion rates. Long before Honey was purchased by PayPal for $4 billion dollars, we reached out to Ryan, the founder, on Linkedin to see if they could use our service. Many payment companies are looking to move beyond the checkout by providing value-added services to consumers and merchants in order to avoid a race to the bottom.. 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 earns its commission from stores when customers use its platform to make a purchase. For more information, visit paypal.com. Diversity, Inclusion, Equity and Belonging. When Punch started working with Honey, we immediately implemented financial operations that could scale with them. About HoneyHoney Science Corporation is an L.A.-based tech company building tools to help people save time and money when shopping online. This website uses cookies to improve your experience. Honey adopts a future-forward model of automation and analytics. Venmo.com Qatalyst Partners is acting as sole financial adviser to Honey, while Latham & Watkins, LLP is acting as its legal adviser. 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. 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.". PayPal Honey Venmo PayPal Zettle. About PayPal "The combination of Honey's complementary consumer products with our platform will significantly enhance our ability to drive engagement and play a more meaningful role in the daily lives of our consumers. Punch worked hard with the founders and management team to truly understand their cost of goods sold and how to improve their gross margins. Yet more players continue to crowd the space, most notably from Apple Pay, Square's Cash App, and Zelle. 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. For more information, visit, Honey Science Corporation is an L.A.-based tech company building tools to help people save time and money when shopping online. Webcast and Conference Call Information This transaction will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. 646.667.5065, Amanda Coffee Necessary cookies are absolutely essential for the website to function properly. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. 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. This latest deal seems to fit well within PayPal's growing payments platform. 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. Image source: PayPal Holdings. 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. Sign up to receive the latest news to your email. "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. But opting out of some of these cookies may affect your browsing experience. PayPal Honey is a browser extension that automatically finds and applies coupon codes at checkout with a single click. PayPal.com If you have not done so, Read our FAQ! Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. 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. Honey currently works across approximately 30,000 online retailers ranging from fashion and technology, to travel and pizza delivery. 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. 04/12/2019. Honey was founded in 2012 and headquartered in Los Angeles. The combination of Honey and PayPal adds another significant and meaningful dimension to our two-sided platform.". Founded. Adam Weiss, who operates Weiss Digital Consulting: After creating something that solved a need for consumers, they built their relationships with brands and retailers through the affiliate channel, which gave them scale and efficiency. Honey will enable PayPal to reach consumers at the beginning of their shopping journeys and will enhance PayPal's ability to help merchants acquire and convert consumers by delivering offers that are personalized, timely, and optimized across channels. 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. acoffee@paypal.com About 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. Get this delivered to your inbox, and more info about our products and services. 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