The Billion Dollar Coupon Codes

Happy Friday!!

Do you like discounts? I don’t know about you but I sure do and today I am going to tell you how you can get discounts on all of your purchases automatically.

Shopping online is great—no lines, unlimited choices—but a limited number of coupon codes.

Don’t lie I know you searched for a coupon code for your last purchase, didn’t you? I know you did! Looking for coupon codes can sometimes be a hassle as many of them do not work or have expired.

What if I tell you there is a free Google Chrome extension for that? It is called “Honey” and it automatically applies the best coupon code when you checkout, which saves us from a lot of hassle and also saves our money.

The Revolutionizing Pizza Discount

Hunger Invents great things. The quote was created by me a few seconds ago 😅

It is because the idea of honey came from searching for discounts to get cheaper pizza. Two entrepreneurs Ryan Hudson and George Ruan founded Honey.

Ryan was buying pizza for his kids and searching for discounts on the internet and the thought came to his mind can finding deals on the internet be simplified?

From that simple thought, they started working on the project but they were not able to convince investors to put funds into their idea. However, all of that changed when a beta tester leaked their idea on Reddit and it grabbed everyone’s attention and went viral.

What Does Honey Do?

Honey automatically finds and applies coupon codes at checkout, creating a seamless shopping experience. Plus, it goes beyond coupons:

• Price Comparison: On Amazon, Honey compares prices across different sellers.

• Droplist: Honey lets you track the price of a product and alerts you when it drops.

• Price Alerts: If a product you want gets a price cut, Honey lets you know.
  
  All these features are absolutely free. The channels Honey available are:

• Browser Extension

• Website

• Mobile App (Android and iOS)

How Is Honey Making Money?

Honey makes money through affiliate deals. When we purchase something using Honeys coupon, they get a percentage of that sale as a commission from the merchants or suppliers. Usually, Honey charges from 5% to 20% which varies based on several factors.

Honey partners with more than 40000+ merchant stores and provides the best deals.

It is a kind of win-win situation for all.

• The customers get discounts on their purchases.

• Suppliers/Sellers getting more sales

• Honey earns a commission from those sales

Isn’t That a Loss for Sellers?

Initially, it may look like the seller is losing money but actually it is not what is happening. The seller getting a good boost in their sales due to Honey’s immense number of users. Almost 17 million people use Honey per month so you can imagine how much exposure the shops that affiliate with Honey get.

What happens when you purchase from a non-partner store?

When you purchase from a non-partner store (Which Honey does not have any affiliate deals with) you will get Honey Gold coins. Which you can convert into a discount or cashback if you have a certain amount of those coins.

When Honey sees that a good amount of customers are purchasing from a store, they try to strike an affiliate deal with them which increases Honey’s income and the store’s sales as well.

Honey’s Rapid Growth Channels

Honey is not a bootstrapped company which means it took funding from investors. Those findings were mainly spent on functional operations and promoting Honey.

• Honey invested heavily in podcasts which really worked great for them in 2019. They appeared in over 100+ podcasts which grew their popularity a lot.

• A huge success for them was promoting on big YouTube channels like PewDiePie, Mr. Beast, and many others. Their best sponsored video was with PewDiePie which had attracted more than 59 million users.

• With all those promotions another thing that promoted Honey was word of mouth. Who does not love having a discount without any hassle of searching for it? People loved Honey and the name became very popular organically.

On January 6, 2020, Honey was acquired by PayPal which we already know is a financial technology company that acquired Honey by paying 4 Billion Dollars in cash. Not millions it was acquired in Billions.

After the acquisition, it was named PayPal Honey. The acquisition helped PayPal expand beyond just payments and into the entire shopping experience.

Why PayPal Acquired Honey?

After reading countless articles and some digging I can see three main reasons for PayPal to acquire Honey.

1. Expansion of PayPal Offering: By acquiring Honey PayPal can diversify their offerings. PayPal was only used for checkout before. By integrating Honey they can provide value even before checkout through promos/coupon codes, price comparison, etc.

2. Complimentary Benefits: By integrating Honey Discount offers that can be availed only using PayPal their customer base can increase more. Honey and PayPal complement each other. Honey influences users to buy something and PayPal completes the rest of the payment process.

3. Data Insights: Honey has valuable data on customer buying patterns or shopping behavior, which increased PayPal businesses to a large extent.

Earn Money Through Honey

Yes! you heard it right, you can earn money by Honeygain. It is a passive income opportunity provided by Honey by sharing our internet connection with them.

You can click here to join and get a $3 bonus. Just sign in and share your internet with them and you will be able to generate some passive income through it.

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