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.
|11/23/2019||Posted by BusinessMediaguide.Com under General World News||
- 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.”