The Toronto-based digital commerce company laid off 29 employees across all departments after announcing its Series A, led by Framework Venture Partners, on March 30. CEO Saad Siddiqui told BetaKit the layoffs were part of a restructuring strategy that will shift more focus to customer acquisition. (BetaKit)
Talking point: The dismissals call into question the company’s plan, announced along with its latest raise, to double its staff over the next 18 months. Siddiqui did not respond by publication time to The Logic’s question about whether it still plans to hit that target. Bonsai’s embedded commerce tool lets shoppers purchase items shown in content they’re consuming directly at the point of discovery. Its 350-plus retail partners include BuzzFeed, Vox Media and Refinery29. BuzzFeed, one of Bonsai’s largest customers, announced major cuts itself last month. Siddiqui told BetaKit the media company’s layoffs had nothing to do with its own.