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Black Billionaire Robert F. Smith, Just Made Another $3 Billion with Sell to Adobe | Black Enterprise

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Black Billionaire Robert F. Smith, Just Made Another $3 Billion with Sell to Adobe | Black Enterprise Vista Equity, the private equity firm launched by black billionaire and engineer Robert F. Smith, announced it is selling a cloud-service company it purchased in 2016, Marketo, to Adobe, for $4.7 billion.

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In May 2016, Vista Equity purchased Marketo for $1.8 billion, reports Forbes. Within three years, Marketo’s revenue grew over $100 million under Smith’s leadership.

Robert F. Smith, African American Billionaire, Black Billionaire, African American Wealth, Black Wealth, KOLUMN Magazine, KOLUMN, Willoughby Avenue

Adobe, a leading provider of graphics and video software and services, will incorporate Marketo into its Adobe Experience Cloud platform. According to a press release, the acquisition will enable Adobe to “offer an unrivaled set of solutions for delivering transformative customer experiences across industries and companies of all sizes.”

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“The imperative for marketers across all industries is a laser focus on providing relevant, personalized and engaging experiences,” said Brad Rencher, executive vice president and general manager, Digital Experience, Adobe, in a released statement. “The acquisition of Marketo widens Adobe’s lead in customer experience across B2C and B2B and puts Adobe Experience Cloud at the heart of all marketing.”


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