Ryan Hudson and George Ruan have built a Google Chrome extension called ‘Honey’ that got sold for ₹28,400 crores($4 Billion) to Paypal – A multi-billionaire company that deals with online transactions. The extension is designed to show you several coupon codes and deals that you can apply at the final payment gateway page of various shopping sites for discounted rates.
You must be wondering, ‘What’s special in this extension?’ ‘This feature is already in the market!’ ‘We can easily search coupon codes online.’ But what makes this extension quite unique is its success rate. The coupon codes that honey provides actually works!
How To Install?
You can install this free extension inside your Google Chrome web browser from the Chrome Web Store. Shopaholic people are going to be most benefitted here. The inventors have provided a demo site to demonstrate the working process of the extension.
All you need to do is install the extension and shop as you typically do. If the site is supported by Honey, the ‘h’ icon will turn orange. For the remaining time, the color sticks to light grey. On Windows supported browsers like Chrome, Edge, Opera and, FireFox the extension will reside at the top right corner whereas, inside Apple’s Safari, you will find the installed extension to the left of your URL box.
In a nutshell, when you open a supported site, honey collects all the coupon codes at one place that can be applied to the products of that site. Once you are ready to buy that product, at the final gateway page, click on the extension and select ‘Apply Coupon Codes’. All the collected coupons will be tested and if valid, the valid coupon codes will get deployed automatically.
Try The Alternative
Droplist is an inevitable feature of this extension that should be discussed. What this feature does is that it watches your favorite items for a price drop and notifies you with an email when the price of that item goes below the amount you chose. But unluckily, this feature is only available for US users right now, but you can try Honey’s alternative – the Buyhatke extension if you are really into this feature!
According to IndiaTimes, the main reason why this extension was sold to PayPal for such a whopping amount is Data.
With their extension, they were able to solve the biggest need of buyers online — best deals. And they did this through a variety of ways (coupons, price comparison, etc). This helped them create a loyal user base. Loyal userbase = data. This data is worth a lot. And that’s exactly what PayPal might be going after.