James Green: Let’s take a company like Bluefly. They’re a large online retailer. They sell fashionable clothing. If someone visits their website, we can help them do site retargeting. We can go and say, “You exhibited this behavior in this website. Perhaps we should send you an email because that’s how you like to be
James points out that in e-commerce and digital marketing, point solutions have become more effective than the broad suites from players like Adobe and Marketo. Read on and see if you agree! Sramana Mitra: Let’s start by introducing our audience to yourself as well as to Magnetic. James Green: I’m the CEO of Magnetic. Magnetic
Sramana Mitra: Besides this bank deal, was there any other strategic moves that you made that helped you accelerate? Chris Folayan: There are many ways you can look at competitors. Who are our competitors? Competitors came to us in different forms and fashion. There were the brick-and-mortar stores and online stores that have a limited
Sramana Mitra: How much money did you raise? Chris Folayan: We don’t disclose the details, but it was a seed round. Sramana Mitra: When was this? Chris Folayan: This was four years ago. Sramana Mitra: So 2012. Chris Folayan: Yes.
Adam Schwartz: We don’t really know what to expect. Even if you’re a $4 million company, you’re still not that big. You don’t know how far this is going to grow. Are we going to grow 100% again or is it not going to scale that way? We’re just going three months at a time and just reinvesting
Sramana Mitra: Besides selling some of your incubated projects and shutting down some others, you said the web development company’s journey was about 10 years. I take it around 2010, you moved on from it. Was the company sold or did it continue and you moved on? Chris Folayan: It continued till about a few
Sramana Mitra: What else did you do in that incubation mode? What other company or projects did you do? Chris Folayan: We were in the incubation mode throughout OCFX. We did Guru Country and we had an auto dealer’s website where dealers could create their own site for their dealerships. It’s more of a template
Sramana Mitra: You were based out in the Bay Area? Chris Folayan: I was based in San Jose. Sramana Mitra: What was the duration of the web design company? Chris Folayan: I was with it for 10 years. We worked for pretty much all the Top Fortune 500 companies in the Bay Area. We also