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