PayPal moves to acquire Honey Science Corp for a whooping $4 billion price tag

Paypal is in the business of money and the company recently announced the takeover of a price-tracking company called Honey Science Corp.  People familiar with the takeover reported that Paypal will pay Honey Science $4 billion to have acquire all of its business and clients. 

Honey science uses a browsing extension to compare prices at online shopping websites. 

According to reports, Honey corp records 17 million users monthly, and the company turned profitable in 2018 after almost 6 years in business. It was founded 7 years ago.

Honey's price tracking browsing extension can be used on thousands of websites. Users use it to track prices on sites like Adidas, Sephora, Macys, Best Buy, Forever 21, Expedia, Pizza hut and many more.   The program searches for price differences and tells the users.  As a result, it saves time and the users get to save money.

As found on Honey's website. 

Honey was profitable in 2018 and has 17 million people using the service each month, PayPal said in a statement. The 7-year-old startup will be allowed to retain its base in Los Angeles, and the founders will continue to run the business. 

Honey is PayPal's latest acquisition after acquiring Hyperwallet, IZettle and Simility.

“You can expect us to be acquisitive going forward,” Dan Schulman, the chief executive officer, said on a conference call with analysts this summer. PayPal looks at hundreds of potential deals every quarter, he said, describing acquisitions as “a part of who we are on an ongoing basis.”