PayPal to acquire shopping and rewards platform Honey for $4B

Re:PayPal to acquire shopping and rewards platform Honey for... by thesausageking on Wednesday November 20, 2019 @10:14PM (#21591129)

That's literally what PayPal did. They gave users $20 if you created an account. Over time, they lowered it to $10 and then $5. The program cost them ~$70m, but let them grow at 7-10% / day. They went from 800k accounts in March of 2000 to 4m in September, and then 11m in September of 2001.

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Re:PayPal to acquire shopping and rewards platform Honey for... by beaverden on Thursday November 21, 2019 @05:17AM (#21592807)

Reminds me of the Monese rush my colleagues have. I heard they're giving referral money to both the inviting and the invited. So far, I've seen only the person who actively invites people to actually use it, because no one else actually needs it in the heavy presence of Revolut in our market. Basically, if you give away money, make sure people are actually using the product

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Re:PayPal to acquire shopping and rewards platform Honey for... by jaredsohn on Thursday November 21, 2019 @12:33AM (#21591695)

>but let them grow at 7-10% / day.

not seeing that math

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Re:PayPal to acquire shopping and rewards platform Honey for... by gonesilent on Wednesday November 20, 2019 @11:06PM (#21591359)

Also jet.com subsidizing sales.

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Re:PayPal to acquire shopping and rewards platform Honey for... by pg_is_a_butt on Thursday November 21, 2019 @12:01AM (#21591594)

I paid for a semester of college at least thanks to that paypal program... I think it started out at $75 referral... then $50 to you and $50 to them, then 50/25, 25/25, 10/25, etc.

Within a month everyone on campus had an account.

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