It was a pleasure to have Roy Rubin share his insights on founding Magento, running a venture capital firm, and lessons he has learned as an entrepreneur on DCKAP's Driven podcast. He was the co-founder and former CEO of Magento and founding partner of R-Squared Ventures. It is estimated that hundreds of thousands of online stores have been created using Magento, which is now known as Adobe Commerce.
Before eBay acquired Magento, Rubin had built Magento as a part-time freelance programming and content management service during his college years, helping the company grow into an internationally recognized e-commerce platform with an international community of users before it was acquired by eBay.. Later on, Magento became an independent company under the ownership of the Permira private equity fund, after which it was acquired by Adobe for $1 billion in 2006.In terms of billions, the figure is 68. The investment strategy of R-Squared Ventures is centered on four key areas of technology: Fintech, Digital Commerce, Marketplaces, and B2B SaaS companies.. As part of his evaluation of a potential investment, Rubin takes into account the technology, the market, the leadership team, as well as the potential return on investment.. There is one recurring theme in Rubin's career, from the years he spent at Magento to the current role he holds at R-Squared Ventures: getting out of the way. A great product was developed by the Magento team, and then the community was allowed to collaborate and organize events as a result of it. In both Magento and R-Squared Ventures, Rubin hires great talent, then empowers these young leaders to create opportunities for their companies.

In regard to the founding of Magento, Rubin explained, "For me, the biggest lesson learned is that if you create a great product, release it in the market, and the product is in high demand, the biggest lesson learned." It's actually your job as a software vendor just to get out of the way and let the community develop on its own if there are good revenue opportunities for both sides of the marketplace.
For more information, please watch this episode: https://youtu.be/Lntq_eacGDw?si=DW2I6O33-_vknU8x
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Source prnewswire