PayPal raids honey pot for $4 bln rewards deal

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PayPal raids honey pot for $4 bln rewards deal
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PayPal hopes buying online coupon and rewards firm Honey Science will help it stand out against rivals. But it could end up just a small, sugary treat that went down the wrong way, writes rob_cyran.

PayPal said on Nov. 20 it had agreed to buy unlisted rewards and coupon firm Honey Science for $4 billion.

The shopping and rewards platform was founded in 2012, and has approximately 17 million monthly users. Honey automatically finds and applies coupons for users, tracks prices, and alerts users to deals. The firm had over $100 million in revenue in 2018 and is growing at more than 100% annually. Honey was profitable last year, according to PayPal.

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