PayPal was also looking for a company that sits at the intersection of consumer shopping habits and retail partnerships, Schulman said.
Honey has deals with marketplaces and ecommerce platforms like Etsy, Walmart and Expedia, which cut it in on sales similar to an affiliate relationship. With those merchant relationships and a consumer base of 17 million monthly active users (which Honey defines as users with its tech installed who visit at least one of its ecommerce partners in a month), Schulman said Honey has what Salesforce describes as an “entangled value proposition.”
And Honey is ready for a broader role in the commerce sphere as well.
“If people think of us as a coupon extension a year or two from now, we will have failed at execution,” Honey co-founder Ryan Hudson, a former product manager at OpenX, told Recode a year and a half ago.