On or around March 21, 2026, The Happy Co. suddenly suspended all Brand Partner (MLM) activities, announcing it would no longer pay commissions on future orders while it “evaluates its overall business strategy.” The company also removed its MLM-focused website and shifted to a standard retail model, with its “About Us” section now lacking ownership or executive details.
Promoters report they have not received commissions for several months, with payments drying up well before the official announcement. The shutdown appears to mark the effective end of The Happy Co.’s multi-level marketing operations.
The Happy Co. launched in 2021 as a reboot of Elepreneurs, which itself was a reboot of Elevacity. It was initially led by CEO Bo Short. The recent “important update” email was signed by CEO John “JT” Thatch, who also serves as CEO and Vice Chairman of the Board at parent company Sharing Services Inc.
Thatch stepped down as CEO of HWH International in October 2025. That company, which sells “Hapi” branded products across Asia, is chaired by Chan Heng Fai. Fai replaced Thatch at HWH International and had earlier resigned as Executive Chairman of Sharing Services Inc. in July 2025. After resigning, Fai significantly increased his ownership stake in Sharing Services between October 2025 and January 2026.
Thatch has not been active on social media and has made no public statements regarding the collapse.
The sudden suspension leaves thousands of Brand Partners without expected income, many of whom had been waiting months for unpaid commissions. The shift away from the MLM model to a simple retail site suggests the company is winding down its network marketing side.
This collapse follows a pattern seen in other MLM companies that struggled with cash flow and eventually shut down distributor payouts.
Bitcoin (BTC) and broader crypto markets remain unaffected by this development.
