The Honey Business Model – How Does Honey Make Money?

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Updated: November 19th, 2023

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Honey is a browser plugin created by George Ruan and Ryan Hudson that automatically searches the web for the greatest prices for its customers.

This Los Angeles-based company, founded in 2012, has established itself as a prominent competitor in the browser extension market.

At one point, Ryan attempted to order pizza for his family; he looked all over the internet for a good coupon but couldn't locate anything. This is when the concept of Honey first came to him.

Hudson and Ruan, who invested $50,000 each in the company, had created the first functional prototype within six weeks.

The business collaborates with more than 30,000 shops in a variety of markets, including fashion, electronics, travel, and others.

Honey receives affiliate revenue for each coupon used with its extension, which is how the company generates money.

The firm was later purchased by PayPal in late 2019 for $4 billion in cash, making it LA's greatest tech departure to date.

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