Happy Returns, the in-person return logistics provider for online purchases, has been acquired by PayPal. Terms of the transaction were not disclosed. “Happy Returns has had a close relationship with PayPal throughout our history,” remarked David Sobie, Happy Returns CEO and Cofounder, and Mark Geller, COO and Cofounder. We have a deep respect for PayPal’s e-commerce 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 Returns has had a close relationship with PayPal throughout our history. We have a deep respect for PayPal’s e-commerce 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 – David Sobie and Mark Geller
Founded in 2015 by Sobie and Geller, Happy Returns had raised a total of $25M in reported equity funding, with the last round coming in 2019 led by the venture capital arm of PayPal, PayPal Ventures. Other investors in the company include U.S. Venture Partners, Upfront Ventures, Maveron, Lowercase Capital, R/GA Ventures, Brian Spaly, and Dennis Phelps. With the acquisition by PayPal, shoppers will be able to return unwanted purchases to more than 2,600 drop-off locations.
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. – David Sobie and Mark Geller
