PayPal just purchased the fintech firm for $4 billion
The browser extension Honey just lost a huge source of opportunity. Just weeks after PayPal purchased the browser extension for $4 billion, Amazon has told customers to uninstall it.
The e-commerce raised questions about consumer privacy and said that the extension represented a “security issue.”
“Honey tracks your private shopping behavior, collects data like your order history and items saved, and can read or change any of your data on any website you visit,” a security warning that was retweeted by users read. “To keep your data private and secure, uninstall this extension immediately.”
Browser Extension Honey and Fintech Woes
The browser extension Honey founded in 2012. It allows customers to locate coupons while they shop online. It generates revenue by procuring a commission on sales and now has about 17 million users.
PayPal, sensing an opportunity in e-commerce on platforms like eBay and Amazon, recently purchased the firm for $4 billion. This was the largest acquisition in PayPal’s history.
Amazon has its own discount plug-in called Amazon Assistant and does not accept PayPal on its platform. That has raised some questions among PayPal supporters about Amazon’s motivations. Honey has worked on Amazon for seven years, and it’s the first time that Amazon has criticized the plug-in.
The statement also drew a quick response from Honey, whose spokesperson said the extension “is not — and has never been — a security risk and is safe to use.”
The firm denied that it sells customer data.
It also said that it only collects “limited customer data.”
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