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PayPal acquires shopping platform Honey for $ 4 billion

21.11.2019
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The online payment company Paypal came up with a giant purchase news. According to the statements, PayPal has completed the transaction to purchase the shopping platform Honey for $ 4 billion.

PayPal acquires shopping platform Honey for $ 4 billion

Payment giant PayPal announced today that all transactions have been completed to purchase Honey’s online shopping platform for $ 4 billion. This was PayPal’s highest ever purchase.

PayPal wants to make a difference

PayPal, which has been banned in our country for several years, now competes with companies such as Google, Apple and Facebook, which have already introduced their own payment systems, and also fights giants such as Visa and Mastercard. The $ 4 billion acquisition of the company is considered to be a tangible indicator of PayPal’s goal of stepping ahead of its competitors.

Honey Science Corporation, which the company acquired, is located on both the web browser plug-in and mobile platforms. Honey, which has 17 million users, offers discounts and promotional codes to consumers from 30,000 online shopping sites, enabling them to have affordable products. After the acquisition is complete, Honey will keep the company headquarters in Los Angeles and its founding partners will continue to lead the team.

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