In the year 2021, PayPal bought Honey's shopping and rewards company for $4 billion. Honey was created to help consumers save time and money. Honey had over 10 million users worldwide to shop in over 30,000 retailers as of the time of the acquisition. We have a new sheriff in town.
You can use Checkmate, a smart shopping tool that captures all of your shopping deals from popular brands, so you don't have to. Checkmate is a 2 year old tech startup that wants to take on Honey by making it easy to find brands, apply savings and manage orders post-purchase.
Checkmate has saved shoppers twice as much as Honey and other coupon code apps since its inception two years ago. The startup was founded during the Pandemic by a team of engineers from Apple, Amazon, and Atlassian, and a product strategist from Google, who realized that all their favorite savings apps weren't saving them as much money as they used to.
The San Francisco-based Checkmate is a free personalized tool for smart shoppers that streamlines the e-commerce experience from start to finish, founded by three Australians Harry Dixon CEO Rory Garton-Smith and Elliot Rampono. With record-high inflation, economic uncertainty and a volatile stock market, consumers are looking to save wherever they can, said Harry Dixon, CEO and Co-founder of Checkmate. At the same time, the rising digital ads costs mean retailers and brands need new ways to build their customer relationships. We are very proud to partner with this prestigious group of investors as we roll out a delightful product that helps shoppers save while helping brands drive conversion and loyalty. Checkmate is a powerful conversion engine that helps businesses to reach their customers and build long-term relationships with their customers. The testing phase saw users engaged with Checkmate 3.5 times per week and saved more than 27%, on average, when purchasing, compared to about 15% with traditional savings apps.
Checkmate has saved users twice as much as Honey in two separate studies and we're excited to show shoppers how much savings they can discover, says Harry Dixon, CEO and Co-Founder.