George Ruan, Co-founder of Honey, Launches New VC Firm Protagonist After $4B Exit from PayPal

ByLA STARTUPS May 2, 2023

George Ruan, co-founder of Honey, has recently launched a new early-stage investment firm called Protagonist. The firm aims to back the most ambitious founders building the next generation of industry-defining companies across software, AI, fintech, consumer, and blockchain technologies.

Ruan’s decision to start Protagonist comes after a $4 billion exit from PayPal, where Honey was acquired in 2019. Honey, a browser extension that helps online shoppers find the best deals, was founded by Ruan and Ryan Hudson in 2012. The company quickly gained popularity among online shoppers and was acquired by PayPal for a whopping $4 billion.

Ruan’s experience with Honey has given him a unique insight into the tech industry and what it takes to build a successful company. He has said that he wants to use his experience to help other ambitious founders achieve their goals.

In a recent interview, Ruan stated that Protagonist is “focused on backing the most ambitious founders who are building the next generation of industry-defining companies.” He also stated that the firm is looking for “companies that are pushing the boundaries of what’s possible, and founders who are willing to take risks and pursue big, audacious goals.”

Protagonist’s investment focus on software, AI, fintech, consumer, and blockchain technologies is in line with Ruan’s previous experience with Honey. The company was built around a consumer-focused product that used AI and software to provide users with the best deals. Ruan believes that these technologies will continue to play a significant role in the future of the tech industry and wants to invest in companies that are utilizing them to create innovative products and services.

The name Protagonist was chosen because Ruan believes that the best founders are the protagonists of their stories. They are the ones who are driving the company forward and pushing the boundaries of what’s possible. Ruan wants to support these founders and help them become the heroes of their own stories.

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