PayPal / Honey 2020
PayPal acquired Honey Science for $4.0B on November 20, 2019.
- Target
- Honey Science
- Acquirer
- PayPal
- Deal value
- $4.0B
- Deal type
- Cash
- Announced
- November 20, 2019
- Sub-sector
- Vertical SaaS Payments
Transaction overview
- PayPal announced the acquisition of Honey Science on November 20, 2019 for $4.0B.
- The transaction is structured as Cash.
- The deal closed on January 6, 2020.
Strategic rationale
PayPal acquires shopping rewards and coupon browser extension to insert itself earlier in the consumer purchase funnel and broaden checkout influence.
Deal terms & multiples
About Honey Science
Honey Science Corporation is a Los Angeles-based technology company whose flagship product is a browser extension that automatically finds and applies coupon codes at online checkout. The company expanded beyond that original tool into price-drop alerts and lowest-price comparisons across retailers. At the time of the acquisition close, Honey reported approximately 17 million monthly active users. Those users had collectively found more than $1 billion in savings in the preceding year.
- HQ
- United States
- Key metric
- ~17 million monthly active users; $1B+ in savings found in the prior year
Frequently asked questions
How much did PayPal pay for Honey Science?
PayPal acquired Honey Science for $4.0B, announced on November 20, 2019.
When did PayPal announce the acquisition of Honey Science?
PayPal announced the acquisition of Honey Science on November 20, 2019.
What sub-sector is Honey Science in?
Honey Science is tracked in the Vertical SaaS Payments sub-sector.
Where is Honey Science headquartered?
Honey Science is headquartered in United States.
Sources
- newsroom.paypal-corp.com /2020-01-06-PayPal-Completes-Acquisition-of-Honey