Former CEO discusses growth of e-commerce platform that became Adobe Commerce
Austin, Texas—On DCKAP’s Driven podcast, Roy Rubin, Co-Founder and former CEO of Magento and founding partner of R-Squared Ventures, shared his insights on founding Magento, running a venture capital firm, and lessons he’s learned as an entrepreneur. Magento, now operating as Adobe Commerce, has had hundreds of thousands online stores created on the e-commerce platform.
- The Birth of Magento: Rubin built Magento from a part-time freelance programming and content management service during college to a globally recognized e-commerce platform and international community of users before it was acquired by eBay. Magento later became an independent company by owner Permira private equity fund and then was acquired by Adobe for $1.68 billion.
- Four Areas of Investment: R-Squared Ventures is focused on four key areas including Fintech, Digital Commerce, Marketplaces, and B2B SaaS. When evaluating a potential investment, Rubin considers the technology, the market, and the leadership team, in addition to the potential return on investment.
- Get Out of the Way: A recurring theme in Rubin’s career from his years at Magento and today at R-Squared Ventures is getting out of the way. The Magento team developed a great product, then allowed the community to collaborate and organize events. At both Magento and R-Squared Ventures, Rubin hires great talent, then empowers these strong leaders to create opportunities.
About founding Magento, Rubin said, “For me, the biggest lesson learned is, if you create a great product and you release it in the market, and there’s strong demand for the product…and ultimately there are great revenue opportunities for all sides of the marketplace, then your job as a software vendor is honestly just to get out of the way and let the community develop on its own.”
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Additional resources: ERP System Integration | ERP – E-commerce Integration Guide
About the Driven Podcast
The DCKAP Driven Podcast is an audio and video show that explores leaders’ stories, digital journeys, and insights on trends in B2B and distribution. The podcast is hosted by Karthik Chidambaram, Founder and CEO of DCKAP, who grew the company from two employees to a global team with more than 200 employees. DCKAP was recently awarded “Best Support,” “Momentum Leader” and “Easiest to Do Business With” by G2.com, the world’s largest and most trusted tech software marketplace. Tune in to the Driven Podcast portal or on Spotify.
About DCKAP
DCKAP is a digital solutions leader that helps distributors simplify digital commerce. Its cutting-edge solutions simplify e-commerce, software integrations, and product information management, ensuring B2B businesses stay ahead in an increasingly digital world. Its flagship product is DCKAP Integrator, which distributors and manufacturers use to automate data between ERP, e-commerce and CRM systems. Founded in 2005, DCKAP is a global and distributed team headquartered in Austin, TX. Visit DCKAP at dckap.com or follow us on LinkedIn and Facebook.
About R-Squared Ventures
Founded in 2021, R-Squared Ventures is a venture capital investment firm based in Los Altos, California. R-Squared Ventures comprises 80 leading industry founders, executives, entrepreneurs, and venture capitalists and is focused on making investments in fintech, enterprise/SMB SaaS, marketplaces and digital commerce. The name R-Squared is derived from “a model in statistics that is intended to predict future outcomes.” Visit R-Squared Ventures at r2vc.com.
