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 Honey's hyper-personalization approach puts the buyer first in terms of selecting the products they want and finding the lowest possible price. In November, PayPal Holdings ( PYPL -0.38%) announced the $4 billion acquisition of Honey Science, an e-commerce tool that helps shoppers find deals. November 21, 2019, 5:41 AM PayPal Holdings, Inc. PYPL has acquired Honey Science Corp. for a hefty amount of about $4 billion in a bid to expand beyond the core payments business. Qatalyst Partners is acting as sole financial adviser to Honey, while Latham & Watkins, LLP is acting as its legal adviser. This shopping data, even anonymized, could provide valuable insights into consumer behavior and would seemingly fit nicely with Jetlore, an AI-powered platform that takes customer data points, analyzes them, and gives merchants actionable steps to capture more sales. These cookies do not store any personal information. acoffee@paypal.com Venmo.com Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The most common answer is to telephone PayPal support. About PayPalPayPal has remained at the forefront of the digital payment revolution for more than 20 years. During the height of the holiday shopping season, the e-commerce giant warned some users that the browser extension could be a "security issue. Bots perform the massive computational tasks that are requiredand present the subsequent actions or data to humans for more subjective decision-making.. . Thank you for your interest in SpringML. By January 2018, Honey raised a total of $40.8 million in venture backing. "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. 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. 408.221.1984. On November 20th, the news of PayPal's significant purchase of Honey, the internet's fastest growing consumer loyalty platform, sent shockwaves throughout the affiliate community. Punch was the missing piece of our puzzle. from 8 AM - 9 PM ET. 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. While it paid a high price for Honey Science, the potential created from the two entities' synergies is clear and feasible. My PayPal Got Permanently Limited (Sweats and money down "Your account has been limited permanently", Is this a scam email with service@paypal.com as the sender, HELP: Buyer didnt send item back after dispute, Can't buy anything or even transfer money, Press J to jump to the feed. This transaction will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. grabinovitch@paypal.com, Media Relations Contact PayPal said it expected Honey to be accretive to its non-GAAP earnings by 2021, and while it's hard to project Honey's 2019 revenue total from this information, it's safe to say that PayPal paid a steep premium to acquire the company. Following the acquisition, Honey will retain its headquarters and brand in Los Angeles, California. LinkedIn sets this cookie to remember a user's language setting. [6] On January 6, 2020, it was acquired by PayPal for about $4 billion. Investor Relations Contacts As consumers shop online, Honey scours promo codes and better deals elsewhere for the same products, ensuring its users always find the best prices. Forward-Looking Statements SpringML partnered with Honey on exploring how data science and machine learning could be leveraged to improve its marketing efforts by understanding its customers and providing additional value to vendors and loyal users. 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. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Shop and Buy. 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. 04/12/2019. "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 was profitable on a net income basis in 2018. My exposure was always to the partnership side of their business and having those professionals who were able to build relationships and work with brands and retailers is what made them successful, helped grow their business and will continue to drive the product forward., Honey is proving the next generation of customer loyalty, building a deep and long-term consumer relationship. (excluding tax or any additional fees, such as shipping), in order to determine the amount of Gold points you may earn for that order. The Los Angeles-based start-up was founded in 2012, and lets users find coupons while. 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. Charged $36 by honey science corporation : paypal Vote Posted by 6 minutes ago Charged $36 by honey science corporation Help Does anyone know why they charged me? 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. 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 . 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. Josh Criscoe Punch helped Honey find their Series A investors that fueled their growth and assisted at every step of the way. JoinHoney.com. PayPal and Amazon haven't historically worked closely together. Visit www.joinhoney.com to shop smarter. This week PayPal announced that it paid $4 billion for Honey Science, a startup that was launched in 2012. PayPal has remained at the forefront of the digital payment revolution for more than 20 years. Isn't honey supposed to be free? Down 63.5% in This Bear Market, Can PayPal Recover in 2023? When Honey started to grow, it was having a hard time finding the right investors and venture capitalists to support their vision. The company has announced it will acquire Honey Science Corporation, a shopping discount and rewards platform. Founded. 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. 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 PayPal's global consumer product and technology organization, reporting to Senior Vice President John Kunze. The acquisition is expected to be accretive to PayPal's non-GAAP earnings per share in 2021. About PayPal With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. jcriscoe@paypal.com Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. PayPal.com These cookies are used to enable you to share pages and content that you find interesting on our websites through third party social networking and other websites. To build this platform, the company raised a relatively small amount of venture capital:$49 million. Their Rewards program, HoneyGold, allows users to earn cash back when they are shopping online in various stores. With approximately 17 million monthly active users, Honey has helped millions of people find more than $1 billion in savings in the past year. The Motley Fool owns shares of and recommends Apple, PayPal Holdings, and Square. For more information, visit paypal.com. PayPal will host a conference call to discuss the transaction at 2:00 p.m. Pacific Standard Time (PST) today. Similarly, PayPal applies a fix-fee and percentage-fee paid by the vendor for each financial transaction facilitated. Necessary cookies are absolutely essential for the website to function properly. Image source: PayPal Holdings. The combination will help accelerate growth across both companies. 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. Ever.". If frictionless payments become commoditized, essentially available from nearly every merchant and financial platform, then a large part of PayPal's value proposition to consumers and merchants simply disappears. 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. 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. 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. Honey's customer base also matches up nicely with Venmo users. 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. 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. Calif. Analysts expect companies in the S&P 500 to report a jump in earnings for the first three months of the year. 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. Heads-up new paypal scam - Fake Invoice + email. Technology companies will be under scrutiny because thats where expectations for revenue growth are close to the highest. 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. 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. PayPal Honey is a browser extension that automatically finds and applies coupon codes at checkout with a single click. 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. After submitting your request, you will receive an activation email to the requested email address. Before checking out, Honey checks the retailer for any coupons or promo codes and applies them to the sale. About PayPal ", "Honey tracks your private shopping behavior, collects data like your order history and items saved, and can read or change any of your data on any website you visit," the message, which was posted on Twitter by multiple users, said. Honey Science Corporation is an L.A.-based tech company building tools to help people save time and money when shopping online. (AP Photo/Jeff Chiu, File). 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. 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. Honey will accelerate its growth by driving adoption among PayPal and Venmos more than 275 million active consumer accounts and sourcing exclusive offers from PayPals extensive network of 24 million merchant accounts. This transaction will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. The move puzzled many observers, as it is not . At PayPal, we promise to treat your data with respect and will not share your information with any third-party. What started as a browser extension has grown into a suite of free tools that help everyone shop with confidence. 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. The acquisition will cost PayPal $4 billion, and it is said that Honey will. JoinHoney.com, (Newsroom Ad tile) Small Business Spotlight, Diversity, Inclusion, Equity and Belonging. Sign up for free newsletters and get more CNBC delivered to your inbox. 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. Tom (@ttaulli) is the author of the book,Artificial Intelligence Basics: A Non-Technical Introduction. 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. The forward-looking statements contained in this announcement speak only as of the date hereof. This announcement contains "forward-looking" statements within the meaning of applicable securities laws. All Rights Reserved. Image source: PayPal Holdings. Honey co-founders Ryan Hudson and George Ruan. Please note that with the current CoVid-19 crisis that support is very limited at PayPal. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. The marketing channel owners will now be reviewing 30, 60, 90-day feature engagement for new acquisition on a monthly cadence to inform buying strategy. For more information, visit paypal.com. ", "Combining PayPal's assets and reach with our technology, we can build powerful new online shopping experiences for consumers and merchants," said Hudson. Understanding Customers using Machine Learning. Honey paves the way for PayPal to offer more value to its account holders and differentiate itself from competitors. Qatalyst Partners is acting as sole financial adviser to Honey, while Latham & Watkins, LLP is acting as its legal adviser. Gabrielle Rabinovitch . The Honey browser extension helps save you money at or get Honey Gold (cash back in gift card form) from 40,000+ online retailers. 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. 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