PayPal Holdings, Inc. has acquired Honey Science Corp. for a hefty amount of about $4 billion in a bid to expand beyond the core payments business.
Founded in 2012, Honey Science is an online coupon startup. The company amasses valuable data on consumer buying habits and offers coupons for online bargains. Its software tracks prices across 30,000 online retailers and sends alerts to users regarding attractive deals.
It has approximately 17 million monthly online and mobile users that are likely to improve PayPal’s customer base.
The latest deal marks PayPal’s biggest acquisition to date. This acquisition will strengthen its presence in the e-commerce market. The deal is likely to help the company expand globally and accelerate development of new products.
Read the source article at Yahoo Finance