11–20 of 195 posts
I'm more amazed people still use Paypal in today's society.
Venmo, owned by paypal, is very popular in the US. People use to split expenses among friends.
Consequently, Venmo is not profitable.
https://www.cnbc.com/2019/04/24/venmo-has-40-million-users-p....
I know a few people who use it, and I've cautioned them in the past that I can't think of any savory business model that would make this profitable.
Is there one? Is it just tracking purchases for advertisers, or is there some other monetization strategy I'm missing? Their main site says they make commissions, but I don't know how to square that with the way consumers use it -- which is to find coupons from other sites.
Honey isn't like a credit card, is it? If I'm a retailer, I don't know why I'd pay a company money for them to scrape coupons from other sites -- and it's not like Honey is going to stop scraping coupons for my products if I don't pay them money, right?
Earlier quoted context omitted.
Venmo, owned by paypal, is very popular in the US. People use to split expenses among friends.
Importantly however, Venmo doesn't make money on peer to peer transactions that use bank accounts, which I'd imagine is what most people do as that's free. Consequently, Venmo is not profitable. https://www.cnbc.com/2019/04/24/venmo-has-40-million-users-p... .
How does Honey make money, aside from the obvious data collection? I know a few people who use it, and I've cautioned them in the past that I can't think of any savory business model that would make this profitable. Is there one? Is it just tracking purchases for advertisers, or is there some other monetization strategy I'm missing? Their main site says they make commissions, but I don't know how to square that with…
I'm more amazed people still use Paypal in today's society.
Venmo, owned by paypal, is very popular in the US. People use to split expenses among friends.
It's perplexing to me that Venmo ever caught on.
Can someone with a better understanding of Honey's business explain why it's worth $4B?
How does Honey make money, aside from the obvious data collection? I know a few people who use it, and I've cautioned them in the past that I can't think of any savory business model that would make this profitable. Is there one? Is it just tracking purchases for advertisers, or is there some other monetization strategy I'm missing? Their main site says they make commissions, but I don't know how to square that with…
Honey shares the savings with the customer.