Honey looks like a sweet deal for PayPal

BOULDER — Honey Science Corp., the developer of shopping rewards platform Honey, will be acquired by PayPal Holdings Inc. (Nasdaq: PYPL) for $4 billion.

Los Angeles-based Honey has operations in Boulder at 1881 Ninth St.

The company has had a Boulder presence since summer 2018, when Honey leased a 2,500-square-foot office.

Engineers there develop Honey’s core products, including a browser extension that pulls online coupons and can predict lower prices automatically for shoppers.

The acquisition is not expected to change local operations.

“We’re looking forward to continued growth and don’t anticipate any impacts,” PayPal spokesperson Josh Criscoe said Friday in an email to BizWest.

Honey executives told BizWest in 2018 that the company opted to open up shop in Boulder to better access the city’s tech talent pipeline.

“We’re very pleased with the talent that’s been readily available to us,” chief operating officer Glen Allison said at the time. “The beauty of Boulder is it comes with a lot of seasoned tech professionals. It’s been a good investment for us.”

Honey will maintain its headquarters in California and co-founders George Ruan and Ryan Hudson will continue to lead the team, according to a PayPal news release. 

The acquisition is expected to close in early 2020. 

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