Digital payments company, PayPal, has acquired the California-based startup, Happy Returns, for an undisclosed amount. The acquisition will help Happy Returns accelerate its growth, while PayPal will be able to further improve its customers’ online shopping experience.
“As part of PayPal, Happy Returns will continue offering a best-in-class returns experience to retailers and shoppers. Our technology and platform will help extend PayPal’s commerce platform beyond discovery and payments to the post-purchase experience. With PayPal’s support, we will also focus on improving our platform and expanding our footprint, all with the goal of providing more customers with the most seamless, cost-effective and environmentally friendly way to make and process returns,” said David Sobie, CEO and Cofounder of Happy Returns and Mark Geller, COO and Cofounder of Happy Returns in a joint statement.
Happy Returns was originally founded in 2015 to enable customers to make eCommerce returns in person more easily. Today, the company has over 2,600 drop-off centers inside stores like Paper Source, Bed Bath and Beyond, World Market and many Simon malls. The company also has several active partnerships with brands such as Everlane, Rothy’s, American Giant, Revolve, Untuckit and Draper James.
“This is an incredibly exciting milestone for our company, and it would not have been possible without the hard work and dedication of our entire team. We are so proud of what our team has accomplished and are grateful for the tenacity, creativity and empathy Happy Returns employees bring to work each day. We are confident that the best is yet to come, and are looking forward to our next chapter as part of the PayPal organization,” said Sobie and Geller.