PayPal announced today that it has acquired Honey Science Corporation, the company that makes the popular Honey deal finding Chrome extension, for approximately $4 billion. The deal is mostly in cash reports, TechCrunch.
At the moment PayPal hasn’t made it clear about exactly how Honey and its deal-finding tech will be integrated into PayPal’s products, but in an interview with TechCrunch, PayPal SVP John Kunze said that PayPal wants to build Honey’s functionality into the PayPal and Venmo experiences.
PayPal merchant partners will also apparently be able to use Honey to offer more targeted promotions, according to TechCrunch.
Honey’s brand will remain, according to PayPal, and the company will still be headquartered in Los Angeles. Honey’s co-founders will also stay on, reporting to Kunze.
Honey is an extension that finds coupon codes for things you add to your cart and attempt to automatically apply them for you. Honey can also track prices of an individual item and notify you when it drops below a certain threshold.
Honey also offers a rewards program, Honey Gold, which gives you Gold for using Honey while you’re shopping that can be redeemed for gift cards.
