How Does The Honey App Make Money?
Honey works out coupon deals with merchants. With hundreds of installations per day, Honey is a Chrome extension that surfs the web for discounts and coupon deals at the moment you are checking out of an e-commerce store.
Amazing, right? Yes!
Most e-commerce websites ask if you have a promo code upon check-out. That is the Eureka moment most people realize they’re getting ripped off. What do they do? Many times, they resort to opening a second window on their browser just to hunt for a discount code before completing the purchase. The search result often consists of a couple of coupon code sites.
They’re left with the option of digging through a list of suggested coupon codes, many of which no longer work. The majority come up empty handed, get so discouraged and may never complete their purchase.
But if you install the Honey app, it does the extra coupon-hunting work for you without leaving the store’s site.
Next to the promo code bar, a golden Honey bar that says “Find Savings” will appear. It scours the web for discount coupon codes and tries multiple sites in just a few seconds.
So, how does the honey app make money?
According to an interview with George Ruan, one of the developers at Honey, way back in 2012 when this money-saving app was newly launched, where he was asked if Honey generates profit for his organization. He stated that “We currently do not make money from the extension. This is something we will explore further down the road, but right now we are concentrating on improving the product and the user experience.”
Here we are, several years later and everyone is curious to know how Honey make its own profit while busy saving people money. Well, asides from leveraging on the millions of traffic and customer base Honey sees per day through ad revenues, they also make a small commission from the sale every time you make a purchase with one of their coupons.
Here we are, several years later and everyone is curious to know how Honey make its own profit while busy saving people money. Well, asides from leveraging on the millions of traffic and customer base Honey sees per day through ad revenues, they also make a small commission from the sale every time you make a purchase with one of their coupons.
Jackie A
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