PayPal Completes Acquisition of Honey

Digital payment processor PayPal announced this week that it has completed its $4 billion cash acquisition of Honey Science Corp.

Honey Science is a provider of tools to notify consumers when prices of products drop and which prices are the lowest available.

“The addition of Honey to our platform enables a significant step forward … to provide powerful services and tools for merchants and consumers, move beyond our core checkout proposition and significantly enhance the shopping experience for our 300 million consumers and merchants,” said PayPal president and CEO Dan Schulman.

Honey, based in Los Angeles, automatically adds online coupons and incentives when e-commerce shoppers browse for deals.

“We’re thrilled to complete this transformational transaction and welcome the Honey team to the PayPal family,” said Schulman.

Honey co-founders George Ruan and Ryan Hudson will continue to lead the Honey team under PayPal’s global consumer product and technology organization.

Disclaimer: We have no position in Paypal Holdings Inc. (NASDAQ: PYPL) and have not been compensated for this article.