$4 Billion for a Browser Extension

PayPal just announced that they will spend some serious cash for Honey. Honey started out as a web browser extension, in October 2012.

Before the launch Honey team hired some freelancers on Mechanical Turk to test the extension. One of its bug testers on Mechanical Turk was so excited about the product, he leaked it to Reddit in advance. And from there it snowballed.

Fast forward today, we have the biggest acquisition to date by PayPal.

Honey will retain its headquarters and brand in Los Angeles, California. Honey co-founders George Ruan and Ryan Hudson will continue to lead the Honey team as part of PayPal’s global consumer product and technology organization, reporting to Senior Vice President John Kunze.