TORONTO, May 3, 2024
/CNW/ - Today, Inspiration Commerce Group announced a significant
leadership transition as Saad
Siddiqui, Bonsai's co-founder and CEO, steps back from his
role after seven years of dedicated service. Andrew Ladouceur, Bonsai's longtime COO, has
been appointed as the Global CEO of the newly formed Inspiration
Commerce Group (ICG) and will serve on its board of directors.
During Siddiqui's tenure, Bonsai achieved remarkable milestones,
including securing partnerships with some of the world's leading
comparison shopping sites and retailers. Notably, Bonsai raised
over $40M in venture capital and
established itself as the category leader in embedded checkout.
In his new role as Chair of ICG's Board, Siddiqui will provide
strategic guidance and support, ensuring a seamless transition and
continued growth for the company. "As I step back from my
operational role as CEO, I am grateful to our team and for Andrew's
long-standing friendship and camaraderie," said Saad Siddiqui. "His leadership qualities and
dedication to our shared vision have been evident throughout our
journey together."
Ladouceur, known for his exceptional people management skills
and deep industry expertise has been a driving force behind
Bonsai's success. Under his leadership, the company experienced
exponential growth, significantly increasing revenue and
solidifying its position as an industry leader. ICG's recent
acquisitions of Stylight and MyBestBrands have expanded its market
reach and propelled revenues to well over $30 million in 2024. With Ladouceur at the helm,
ICG has set ambitious goals, with a clear line of sight to
$100 million in profitable revenue.
The company plans to achieve this milestone through at least two
additional acquisitions in 2024.
Under Ladouceur's guidance, ICG is poised for further expansion
and innovation, with plans to raise a significant private equity
round. This investment will fuel additional acquisitions in
2024.
"It is my immense privilege to lead ICG," said Andrew Ladouceur. "Filling the shoes of my dear
friend and partner Saad will be challenging, but I'm grateful for
his continued support on the Board as we single-mindedly build the
leader in our category."
SOURCE Bonsai