Magento is an e-commerce platform that was acquired by Adobe Systems on June 19, 2018.[1] It is now a key part of Adobe Commerce Cloud.[2]
History[]
Meet Magento Commerce Cloud, your data-driven ecommerce platform
Magento was originally developed at Varien, a web development company, and launched in 2007.[3] eBay invested in a minority stake in the company in 2010 and acquired the remainder of the company in its entirety on August 17, 2011.[4] A majority stake in Magento was sold to Permira for $150 million in 2015. Private equity investor Hillhouse Capital Group provided $250 million in funding in 2017. Though the technology was open source, the company was reportedly valued at about $700 million at the time. Adobe Systems offered $1.68 billion to acquire the company in 2018.[5]
References[]
- ↑ Magento is Now Part of Adobe by Mark Lavelle, Magento. 2018-06-19.
- ↑ Experience Magento, Adobe Experience Cloud. Accessed 2021-11-03.
- ↑ Varien announces Magento, a new open source eCommerce platform, Varien. 2007-04-05. Archived 2007-04-09.
- ↑ eBay Inc. Completes Acquisition of Magento, eBay Inc. 2011-08-17.
- ↑ eBay spinoff's value goes from $150 million to $1.68 billion in Adobe buyout by Cromwell Schubarth, Silicon Valley Business Journal. 2018-05-21.
External links[]
- Magento official site (archived 2018-06-21, 2010-09-23, 2007-04-08)
- Magento Commerce Cloud at Adobe (archived 2018-07-26)
- Adobe Commerce, powered by Magento at Adobe Experience Cloud
- Magento at Twitter
- Magento at YouTube
- Magento at Wikipedia