Honey is a browser extension which helps customers find online coupons. It makes its revenue through commissions or affiliate revenue earned on transactions through its platform. Honey has partnered with more than 30,000 retailers in several sectors including clothing, food delivery, travel, etc. This article will cover details on how to buy Honey stock.
Overview of Honey
Honey Science Corp., a subsidiary of PayPal operates the browser extension, Honey. To invest in Honey stock, you have to invest in its parent company, PayPal.
George Ruan and Ryan Hudson developed Honey. The pair had extensive experience founding startups. Honey is free to use and is available as an extension on Google Chrome, Safari, Firefox, Opera, and Microsoft Edge browsers and also as iOS and Android apps.
The interesting thing about Honey is its consumer engagement. Honey made $100 million revenue in 2018. In 2020, PayPal completed its $4 billion acquisition of Honey. To invest in Honey, you should buy PayPal stock.
Some background about PayPal
PayPal Holdings, Inc. is an American multinational company which operates an online payments system and operates as a payment processor for online vendors, auction sites and commercial users operating an online payments system in countries that support online money transfers. It is an electronic alternative to traditional methods to transfer money.
PayPal’s mission is to democratize financial services and empower people and businesses to join and thrive in the global economy. PayPal’s open digital payments platform enables 325 million active account holders to transact online, on a mobile device or in personal. The PayPal platform is available in more than 200 markets and includes Braintree, Venmo and Xoom.
Xoom is an international money transfer business and Venmo is a mobile payment app with a social network component. Braintree specializes in mobile and web payment systems for e-commerce companies.
PayPal’s platform enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. Honey is one of the subsidiaries of PayPal, which has several other subsidiaries as well.
PayPal holdings is listed on the NASDAQ with the stock ticker PYPL.
Why did PayPal pay $4 billion for a coupon browser extension?
The Honey acquisition is PayPal’s largest acquisition to date. PayPal paid $4 billion for Honey because it saw potential in the Honey app. At this time when eCommerce companies are acquiring artificial intelligence startups, the Honey deal made sense for PayPal’s vision of reaching customers at the beginning of their shopping journeys.
What is the Honey stock price and how to buy Honey app stock?
As Honey is a part of PayPal, Honey doesn’t have a separate stock price. You can invest in Honey, by investing in PayPal.
PayPal’s stock performance in recent years
The PayPal stock performance over the last five years has been great. In April 2016, PayPal was trading at $38.51 and as of April 2021 PayPal trades at $251.02. The market cap or market value of PayPal is $310.28B.
You can buy Honey stock by investing in PayPal shares and by investing through a reliable broker.