The 5 Stories You Need To Know This Week

The 5 Stories You Need To Know This Week


In the largest acquisition deal of the week so far, PayPal announced its $4 billion takeover of Honey Science on Wednesday.

What does PayPal get from Honey?

It’s been a few weeks since we had a juicy acquisition story, so we were glad to hear PayPal announce the largest deal in its two-decade history with its Honey Science purchase. The announcement caused PayPal’s stock to drop more than 2% but gives the company access to personalized ‘shopping journeys’ for customers. Founded in 2012, Honey operates a browser extension tool that automatically searches for and applies coupon codes as consumers shop online. Honey co-founder Ryan Hudson reiterated the importance of the deal to PayPal, as his company boasts 17 million monthly users as well as 30,000 retail partners. PayPal has enjoyed great success in the past by allowing its acquisitions to continue operating as-usual rather than trying to integrate them into the existing company structure and looks set to do the same with Honey.

Bet you didn’t know

PayPal’s largest every acquisition before this was when it bought iZettle for $2.2 billion in 2018.


The Olympic Committee has partnered with Airbnb in a deal reportedly worth $500 million that will boost the company’s presence and lower host-city costs for the Olympics.

Why did this deal happen?

The deal was announced on Monday evening as the accommodation booking giant prepares for a 2020 IPO. The San Francisco-based company announced it had joined an elite corporate list which includes Coca-Cola, Alibaba and more, and will partner the next five winter and summer games in Tokyo, Beijing, Paris, Milan, and Los Angeles — some of the company’s largest rental cities. With over 200,000 listings in these locations already, the company is hoping to increase this number and raise its value to these areas, while the Olympic Committee sees the move as a way of cutting the need for host cities to spend millions on accommodation for athletes and spectators alike. A long-term sponsorship of the world’s largest event and a $3 billion cash reserve are big statements to make ahead of any potential IPO.

Bet you didn’t know

The Coca-Cola Company is the longest continuous sponsor of the Olympic Games, spanning from 1928 until at least 2020.



Slack stock took a haircut of more than 8% on Tuesday following a report that Microsoft Teams has seen its daily active user count rise again.

Is there a way back for Slack?

Investors in Slack will be feeling pretty nervous right about now as the company looks set to be eclipsed by the success of Microsoft Teams. Back in July, Microsoft reported 13 million active users and has seen this number grow exponentially to 20 million; Slack has just 12 million users as of October. Slack shares were down as much as 10% on Tuesday following Microsoft’s announcement and closed down 8.4%. Slack has fought back though, claiming it continues to see unmatched engagement on its platform with 5+ billion weekly actions, including 1+ billion mobile actions. We here at MyWallSt couldn’t function without Slack in the office, but there is no denying that if it doesn’t start posting some higher growth numbers soon, it may be in serious trouble.

Bet you didn’t know

“Slack” is an acronym for “Searchable Log of All Conversation and Knowledge”. I use it every day and I didn’t know that.



Disney+ has not escaped the negative press despite a successful launch after it was revealed on Monday that thousands of accounts had been hacked and sold online.

What is the scale of the hack?

The only thing worse than being forced to wait for a buffering Disney+ is having your Disney+ account hacked and stolen! Ok, there are probably worse things that could happen… Nevertheless, this online mega-heist of sorts is exactly what thousands of new Disney+ users experienced as it was reported that hackers had gained access to, and sold thousands of account details on the dark web. A spokesperson for Disney stated that “there is no indication of a security breach on Disney+.” The evidence would suggest otherwise, as many of those affected reportedly had randomized, individual passwords, that could not have been taken from elsewhere. Disney’s stock doesn’t seem to be hurting too much though, as it sat just $3 off it’s 52-week high this week. The house always wins: in this case, the House of Mouse.

Bet you didn’t know

The largest known information hack happened between 2013-14 when 3 billion Yahoo accounts were compromised over a period of 9 months. 



I am really beginning to think we need to officially turn #AndFinally into #GaffeOfTheWeek, and with CEOs like Elon Musk around, we’ll have no shortage of material. Tesla unveiled its futuristic ‘Cybertruck’ pickup yesterday at a promotional event in Los Angeles, priced at $39,900. But when it came to showing off the vehicle’s durability, things didn’t quite go as planned. When Musk claimed the car to be ‘bulletproof’ against a 9mm handgun, he had Tesla’s chief designer test his claims with a small metal ball. It was a smashing success, and by success, I mean complete failure, as the ball smashed the window — twice… “Oh my f------ god,” Musk exclaimed when it first happened. “Well, maybe that was a little too hard.” In Tesla’s defense, the car had previously taken a pounding from a sledgehammer, which didn’t leave a scratch. Luckily, Musk & Co. will have until 2021 to work out this pretty significant kink.

So, is it bulletproof or not?

Well, technically we haven’t seen a bullet in action, but so far the car is 0-1 versus a ball, so I think it might be best to err on the side of caution with this one.

Bet you didn’t know

Elon Musk has claimed the ‘Cybertruck's’ design was influenced by the Lotus Esprit sports car that doubled as a submarine in the 1970s James Bond film "The Spy Who Loved Me".


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