PayPal Acquires Happy Returns
May 17, 2021
Looking to create more of an end-to-end ecommerce solution and move beyond the perception that it’s a payments platform only, PayPal has acquired Happy Returns, which consolidates returns for its retail customers via a national network of mall and store collection points.
Sensing encroaching into payments from Amazon, Apple, Google, Facebook and others, PayPal began expanding its offerings in recent years to provide a broader value proposition for merchants. It led a 2019 investment round in Happy Returns that netted the company $11 million.
A startup launched in 2015, Happy Returns has a network of more than 2,600 dropoff locations in the U.S., in more than 1,200 cities and towns in every state. The company got a major boost by adding more than 2,000 FedEx locations in an October 2020 deal, including 300 inside Walmart stores.
PayPal Acquires Happy Returns
Happy Returns, a Santa Monica, CA-based tech returns company.
The amount of the deal was not disclosed.
As part of PayPal, Happy Returns will continue offering its returns experience to retailers and shoppers. The technology and platform will help extend PayPal’s commerce platform beyond discovery and payments to the post-purchase experience. With PayPal’s support, the company will also focus on improving the platform and expanding its presence.
With the addition of PayPal’s technology, Happy Returns’ commerce platform, which includes Honey and checkout products, will be able to guide consumers along their entire commerce journey from discovery (Offers & Deals), payments (PayPal and Venmo online & in-store) to returns and exchanges.
PayPal acquires returns logistics business, Happy Returns
PayPal announced today it’s acquiring Happy Returns, a returns solution provider that offers online shoppers access to easier ways to send back unwanted merchandise to retailers without having to box it up and ship it themselves. The company today offers a network of more than 2,600 drop-off returns locations in the U.S., including those in over 1,200 metros and in every U.S. state.
It also has relationships with hundreds of brands that have been using its returns software and reverse logistics services. The company says it will continue to offer its returns experience to online retailers and shoppers as a part of PayPal.
socaltech.com
Santa Monica-based
Happy Returns, a startup which helps e-commerce companies manage their returns process, has partnered with omnichannel logistics services company
Port Logistics Group, the two announced this morning. The two said that Happy Returns has become part of Port Logistics Group s Whiplash partner integration network. Whiplash Merchandising, owned by PLG, is an ecommerce technology company providing integration, order management system (OMS) and warehouse management system (WMS) capabilities. Financial details of the partnership were not announced. Happy Returns is led by co-founder and CEO David Sobie.