Magecredit was just Acquired!

The popular eCommerce store credit system I built that worked for the Magento eCommerce platform called Magecredit was just acquired by a German consulting company.

I’d rather not disclose the acquisition amount but I can say that I am very happy with the result.

The acquirer does have technical expertise so I’m confident they will continue work for the current Magecredit clients to improve and grow the product with new features. I will remain available for the next 6 months on an “on-call” basis.

Stepping Down as CEO of Sweet Tooth

Sweet Tooth was my first company to make a significant impact in the world: used by 4,000 businesses across 15 different countries, rewarded millions of people, oversaw billions $$ in transactions, raised 2.3m in venture financing, built an all-star team and much more – all in less than 4 years. This made it an extremely difficult decision to step down as CEO of the company, but I believe it was the right one.

I will remain on the board of directors of the company and shareholder, and I will always be happy to connect to any merchants and partners any time to help. I will be spending my time in Toronto for the time being, but I’ll be in Waterloo every so often. None of my contact info has changed.

Sweet Tooth is Still Growing and Doing Well

The first thing you should know is that Sweet Tooth is still growing profitably. The #1 priority is still helping Sweet Tooth merchants succeed. Sweet Tooth will continue to grow and innovate, improve and adapt. Not much will change in the short term.

Sweet Tooth Logo

Why I Stepped Down

I love bringing in the energy, launching new products, helping people succeed and leading a team to the top. I’m a risk-taker, anyone who has worked with me will know that, but at this stage of growth Sweet Tooth needs someone who will carefully observe the fine details and build insightful conclusions out of the data over time. Mike is better suited to take over those responsibilities.

When I recruited Mike it was because I knew he was extremely intelligent, would/could learn any new skill in any field, he loved solving problems and was a fantastic leader. We were classmates and he was the first friend I made in the Engineering program I attended at UW. I’m glad I’ve been able to leave the company in the hands of someone so capable.

What’s Next for Me?

I’m still working with Sweet Tooth and I may continue doing so, but I recently launched websites for my two new projects: Coincart and Share To Give.

Coincart is an anonymous bitcoin eCommerce platform.

Coincart Logo

Share To Give is a social rewards app that helps merchants gain social referrals and sales by giving to charity. 

Share To Give logo

Feel free to reach out if you have any questions or just want to chat! I can usually be found at the new Google office building at 111 Richmond St West in Toronto.