Monday, January 6, 2020

PayPal Completes $4 Billion Acquisition Of Honey

San Jose-based PayPal Holdings said this morning that it has completed its $4 billion cash acquisition of Los Angeles-based Honey, the developer of a browser plug-in that helps consumers find the best coupons for purchases when they are shopping online. According to PayPal, the deal will "transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants." Honey was co-founded by George Ruan and Ryan Hudson, who will continue to head up the efforts of Honey as part of PayPal's global consumer product and technology organization, according to PayPal. Honey--which was based in Pasadena--is one of the largest exits out of Southern California in recent years.

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