The Long-Term Potential of PayPal's Honey Acquisition
PayPal (NASDAQ: PYPL) acquired Honey Science last fall for a whopping $4 billion. After closing the deal last quarter, PayPal wasted no time working to grow Honey's user base. Honey had about 17 million users when PayPal acquired it, and it's growing fast. PayPal's management says net new users increased 180% in April.
The payments company is looking to capitalize on its wide presence in order to expand Honey's user base. PayPal currently has over 330 million active accounts. But scaling the app from 17 million users to hundreds of millions is just the first step in the long-term vision for Honey and PayPal.
Honey co-founders Ryan Hudson and George Ruan. Image source: PayPal
Source Fool.com
