Happy Returns, a U.S.-based returning product startup, announced on Friday it has been acquired by PayPal Holdings, Inc. (NASDAQ:PYPL). Founded in 2015, Happy Returns seeks to retain revenue, reduce cost, give shoppers choice, and make supply chains sustainable by making returns “beautiful” for retailers, shoppers, and the planet.
“There’s no part of retail that would advance business more to improve than returns. Because Happy Returns manages all aspects of returns, brands can focus instead on their business. Brands can now increase exchanges and offer a top-notch experience with best-in-class returns software and reverse logistics, starting at $350/month.”
Happy Returns further revealed it already has a close relationship with PayPal throughout its history.
“We have a deep respect for PayPal’s ec-ommerce leadership, inclusive and innovative company culture, and commitment to expanding access to the global economy, and couldn’t be more thrilled to be joining the PayPal family.”
Happy Return also stated it will continue offering a “best in class” returns experience for retailers and shoppers. The company added:
“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.”
