General World News

Honey faced rejection from VCs for 2 years before a group of seed investors put in $1.8 million. Now some are celebrating 300x returns after it sold for $4 billion.

Honey cofounders

  • Honey, which makes a browser extension that surfaces coupons while you shop online, has sold to PayPal for $4 billion in cash.
  • Honey’s investors are expecting returns as high as 300 times their initial investment. Many are smaller VC firms based in Los Angeles.
  • Investors describe the purchase as “mutually beneficial.” PayPal wanted to move beyond a checkout system, and Honey wanted to do payments.
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Honey’s acquisition gives new meaning to the term “sweet deal.”

Honey, a startup that makes a browser extension for online shopping, just sold to PayPal for $4 billion. It is read more >>>

Source:: BusinessInsider.Com