PayPal has made its largest acquisition yet by purchasing Honey for $4 billion. Owning Honey and incorporating its set of money-saving tools will serve to give PayPal an earlier entry into the online shopping cycle at the point of customer deal discovery.
Honey has 17 million active users every month – mostly millennials of both genders – who take advantage of the company’s deal-finding tech, which automatically attempts to apply every eligible promo code at checkout until it settles on the one that saves the user the most money. The best promo is then automatically applied.
Honey also tracks price histories and recent price drops. Honey’s browser extension currently works across 30,000 shopping sites.
Honey employees think highly of their company in several areas, according to anonymous worker insights on Comparably. They rate their CEO, George Ruan, among the top 5% for similiar-sized companies. 87% say they are satisfied with their benefits. 86% say they are excited to go to work every day. 100% say they get annual bonuses from the company. 100% also say that the company has clear goals that they are invested in.
Honey employee quotes:
One employee cites Honey’s “transparency, honesty, gratitude toward employees.” Another says the team’s best attributes are “collaboration, attitude, energy and openness.” A third says he is most happy about “my team and speed at which we are able to get things done.” And as for compensation, one worker writes positively of the “base plus bonus and large equity package.”