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Revision as of 23:47, 11 April 2023 view sourceSheep8144402 (talk | contribs)Extended confirmed users, Rollbackers33,719 editsm Rollback edit(s) by 92.40.192.235 (talk): non-constructive (RW 16.1)Tag: Rollback← Previous edit Revision as of 19:28, 16 April 2023 view source 50.71.169.131 (talk)No edit summaryTags: Reverted references removedNext edit →
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==Marketing== ==Marketing==
PayPal Honey has become known for its heavy use of YouTube advertising and channel sponsorships for its marketing. Similarly to ], Amazon's ] and '']'', it offers paid sponsorships to popular YouTube channels such as ] to expose the service to its viewers.<ref>{{cite web |last1=Weiss |first1=Geo, 201
PayPal Honey has become known for its heavy use of YouTube advertising and channel sponsorships for its marketing. Similarly to ], Amazon's ] and '']'', it offers paid sponsorships to popular YouTube channels such as ] to expose the service to its viewers.<ref>{{cite web |last1=Weiss |first1=Geoff |title=Browser Extension 'Honey', a Frequent Shane Dawson and MrBeast Sponsor, Acquired for $4 Billion |url=https://www.tubefilter.com/2019/11/21/honey-shane-dawson-mrbeast-4-billion/|date=November 21, 2019|website=Tubefilter |accessdate=June 11, 2020}}</ref> In 2020, PayPal Honey launched a web series called "Honey Originals", where Honey partners were interviewed, including segments "20 Questions {{nowrap|with _}}" and "Add To Cart {{nowrap|with _}}".<ref>{{cite AV media|url=https://www.youtube.com/watch?v=8fKRVDBOsdI&list=PL-rDN1-GBm-JiK4GlDR1lAVLVgpLL-fS1&index=6| title = 20 Questions with MrBeast {{!}} Honey Originals |publisher=Honey|via=]|date=July 1, 2019|access-date=September 26, 2022}}{{cbignore}} Archived at {{cbignore}} and the .{{cbignore}}</ref><ref>{{cite AV media|url=https://www.youtube.com/watch?v=Mnhnq7FwPMg&list=PL-rDN1-GBm-JiK4GlDR1lAVLVgpLL-fS1&index=4| title = Add to Cart with Gibi ASMR {{!}} Honey Originals |publisher=Honey| via=]|date=March 21, 2020|access-date=September 26, 2022}}{{cbignore}} Archived at {{cbignore}} and the .{{cbignore}}</ref>

==Revenue== ==Revenue==
PayPal Honey's revenue comes from a commission made on user transactions with partnering retailers.<ref>{{Cite web|last=Rey|first=Jason Del|date=April 2, 2018|title=Honey — the under-the-radar coupon startup — has held talks to raise around $100 million in a new investment|url=https://www.recode.net/2018/4/2/17181426/honey-coupon-startup-funding-100-million-series-d|access-date=January 3, 2019|website=Recode}}</ref> When a member makes a purchase from merchants partnering with the company, Honey shares part of their commission with the member in a ] program.<ref>{{Cite web|last=Kane|first=Libby|title=A struggling dad built an app to buy his kids cheaper pizza — and now his company has 5 million downloads and $40 million|url=https://www.businessinsider.com/honey-app-ryan-hudson-2017-10|access-date=January 3, 2019|website=Business Insider|date=November 17, 2017}}</ref> Users are notified of price drops and price history on selected items sold by participating online stores.<ref>{{Cite web|last=Ellingson|first=Annlee|date=January 31, 2018|title=How Honey helps users keep their New Year's resolution to save money|url=https://www.bizjournals.com/losangeles/news/2018/01/31/how-honey-helps-users-keep-their-new-year-s.html|work=]|access-date=September 26, 2022}}</ref> PayPal Honey's revenue comes from a commission made on user transactions with partnering retailers.<ref>{{Cite web|last=Rey|first=Jason Del|date=April 2, 2018|title=Honey — the under-the-radar coupon startup — has held talks to raise around $100 million in a new investment|url=https://www.recode.net/2018/4/2/17181426/honey-coupon-startup-funding-100-million-series-d|access-date=January 3, 2019|website=Recode}}</ref> When a member makes a purchase from merchants partnering with the company, Honey shares part of their commission with the member in a ] program.<ref>{{Cite web|last=Kane|first=Libby|title=A struggling dad built an app to buy his kids cheaper pizza — and now his company has 5 million downloads and $40 million|url=https://www.businessinsider.com/honey-app-ryan-hudson-2017-10|access-date=January 3, 2019|website=Business Insider|date=November 17, 2017}}</ref> Users are notified of price drops and price history on selected items sold by participating online stores.<ref>{{Cite web|last=Ellingson|first=Annlee|date=January 31, 2018|title=How Honey helps users keep their New Year's resolution to save money|url=https://www.bizjournals.com/losangeles/news/2018/01/31/how-honey-helps-users-keep-their-new-year-s.html|work=]|access-date=September 26, 2022}}</ref>

Revision as of 19:28, 16 April 2023

American company operating a browser extension

PayPal Honey
Company typeSubsidiary
IndustryCashback website, online coupons
FoundedOctober 2012 (2012-10)
FoundersGeorge Ruan
Ryan Hudson
HeadquartersLos Angeles, California, United States
Area servedCanada, United States
Key peopleGeorge Ruan
(CEO)
Ryan Hudson
(Co-founder)
Number of employees209 (worldwide, 2018)
ParentPayPal
Websitejoinhoney.com

PayPal Honey, formerly known as Honey, is an American technology company and subsidiary of PayPal known for developing a browser extension that aggregates and automatically applies online coupons on eCommerce websites.

History

Entrepreneurs Ryan Hudson and George Ruan founded Honey in November 2012 in Los Angeles, California, after building a prototype of the browser extension in late October 2012. A bug tester leaked the tool to Reddit, where it went viral. By March 2014, the company had 900,000 organic users.

Honey raised a $26 million Series C round, led by Anthos Capital in March 2017. By January 2018, Honey raised a total of $40.8 million in venture backing.

On January 6, 2020, it was acquired by PayPal for about $4 billion. Nearly immediately after PayPal acquired Honey, Amazon claimed to its users that the extension was a security risk that sold personal information. A Wired magazine article, written shortly after the acquisition, questioned whether the claim was motivated by PayPal's newly acquired ability to compete against Amazon.

In June 2022, the company was renamed PayPal Honey.

Marketing

PayPal Honey has become known for its heavy use of YouTube advertising and channel sponsorships for its marketing. Similarly to NordVPN, Amazon's Audible and Raid: Shadow Legends, it offers paid sponsorships to popular YouTube channels such as MrBeast to expose the service to its viewers.Cite error: A <ref> tag is missing the closing </ref> (see the help page). When a member makes a purchase from merchants partnering with the company, Honey shares part of their commission with the member in a cashback program. Users are notified of price drops and price history on selected items sold by participating online stores.

References

  1. ^ Metcalf, Tom; Verhage, Julie (January 28, 2020). "Coupon Duo Now Worth $1.5 Billion After Honey's Sale to PayPal". BloombergQuint. Archived from the original on December 9, 2020. Retrieved January 28, 2020.
  2. Vincent, Roger (August 1, 2018). "Online coupon firm Honey taking over historic Coca-Cola plant in Arts District". Los Angeles Times. Retrieved January 3, 2019.
  3. Shontell, Alyson (January 16, 2013). "New Coupon Startup 'Honey' Has Had 9 Successful Investor Meetings in a Row". Business Insider. Retrieved September 26, 2022.
  4. Perez, Sarah (March 25, 2014). "Honey Introduces a Universal Cart for Online Shoppers Where Savings Are Automatically Applied". TechCrunch. Retrieved September 26, 2022.
  5. Pierson, David (October 24, 2017). "L.A. Tech: Can't find a coupon code? This L.A. start-up does all the work for you". Los Angeles Times. Retrieved September 26, 2022.
  6. Ketchum, Dan (April 11, 2019). "Got a Problem? Turn it into a Business Like These 15 Companies". GOBankingRates. Retrieved September 26, 2022.
  7. "PayPal Completes Acquisition of Honey" (Press release). PR Newswire. January 6, 2020. Retrieved September 26, 2022.
  8. Taulli, Tom (November 23, 2019). "Why PayPal Paid $4 Billion for Honey Science". Forbes. Retrieved January 28, 2020.
  9. Peters, Jay (November 20, 2019). "PayPal acquires the company behind the Honey deal-finding extension for $4 billion". The Verge. Retrieved February 25, 2020.
  10. Lee, Dami (January 9, 2020). "Amazon suspiciously says browser extension Honey is a security risk, now that PayPal owns it". The Verge. Retrieved February 8, 2022.
  11. "What is PayPal Honey?". PayPal Honey. June 29, 2022. Archived from the original on September 26, 2022. Retrieved September 26, 2022.
  12. Kane, Libby (November 17, 2017). "A struggling dad built an app to buy his kids cheaper pizza — and now his company has 5 million downloads and $40 million". Business Insider. Retrieved January 3, 2019.
  13. Ellingson, Annlee (January 31, 2018). "How Honey helps users keep their New Year's resolution to save money". American City Business Journals. Retrieved September 26, 2022.
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