Unlike startups that raise millions, Honey, a simple web browser extension app
that was acquired for a staggering $4B by PayPal was run, for the most part, as
a side project!

Back in 2012, with the explosion of online shopping, serial entrepreneur Ryan
Hudson noticed that finding discount coupons online were a hassle.

Soon after, along with his co-founder George Juan, he set out to build a
prototype for a browser extension that would automatically find and present
available coupons for someone shopping online.

After spending two years bootstrapping, and unable to convince investors when
attention was moving away to the mobile app economy, Ryan decided to take up a
day job to pay his bills.

However, he didn't give up, and after multiple tweaks and experiments on their
product, things changed.

An update that would search and present the best coupon rather presenting all
coupons, clicked with their users and downloads skyrocketed!

By 2018, the app had over 14M users and over $100M in revenue with PayPal
eventually acquiring Honey in an all cash exit.

The key takeaway here is that with the Internet, bootstrapped side projects are
usually an under appreciated yet effective strategy in scaling up!



Originally posted by Nikhil Prasad Maroli on LinkedIn
link: linkedin.com/in/mnikhilprasad