Up to now, Magento has become one of the leading platforms when it comes to e-commerce development. However, it’s not a quick success but a long journey. If you are curious about what Magento has gone through to get its position today, keep reading. We will together go back in time to discover the history of Magento from the very first days.
Magento History and Milestones
- Roy Rubin and Yoav Kutner were working for Varien Inc. while they were still in college. Here, they were responsible to develop and enhance the osCommerce platform. However, seeing a lot of limitations of osCommerce, they decided to build a new platform from scratch with a higher level of scalability, stability and more e-commerce features. That’s the way Magento was born.
- On August 31, the first beta version of Magento was released. The name of Magento was derived from the magenta color. However, since the domain “magenta.com” had already taken, the founders went for “Magento”.
- Just 7 months after the first release, on March 31, the first stable version of Magento was introduced. This was called Magento Community Edition (CE).
- Since this was an open-source platform that everyone could download at no cost and free to customize, it quickly became popular.
- Bob Schwartz became president of Varien and played a pivotal role in expanding Magento reputation worldwide.
- Magento became more and more prevalent, even more well-known than osCommerce.
- Varien Inc. changed its name to Magento.
- eBay made a huge investment in Magento to possess nearly 50% share of the company.
- In June, Magento company was acquired entirely by eBay. This was a big event in the history of Magento.
- It’s worth noting that eBay was also the owner of PayPal, that’s why they decided to integrate PayPal payment into the Magento e-commerce platform.
- The first Magento Imagine Conference was organized in Los Angeles. The event drew the attention of over 600 Magento users, merchants, and partners.
- Magento introduced Magento Developer Certification, providing official training programs and holding competitions to evaluate the capability of developers.
- A new record was made: Magento platform was downloaded more than 4 million times and was widely used by over 150,000 e-commerce stores globally.
- In April, Yoav Kutner left Magento.
- In July, Magento 2 was released, marking a breakthrough not only in the history of Magento history but also in the e-commerce industry history. Compared to Magento 1, Magento 2 brought about plenty of improvements and enhancements in terms of design, performance and user experience. Nevertheless, as it was just released and unstable, not many merchants wanted to migrate from Magento 1 to 2.
- On November 3, Magento was separated from eBay with the new owner – Permira, a private equity company.
- became independent again as a consequence of the restructuring of eBay: its new owner, Permira, a private equity firm, thought it would be better to unleash the developers.
- Due to the split of PayPal from eBay, Magento was spun out as an independent company by the new owner Permira private equity fund in November.
- On August 1, Magento acquired RJMetrics, a cloud-based analytics company.
- The Magento Enterprise Edition (EE) was released with the aim of targeting large e-commerce businesses who have more complicated demands.
- Magento renamed both of their platforms to Magento Open Source (previously Magento Community) and Magento Commerce (previously Magento Enterprise).
- In January, Hillhouse Capital, one of biggest Chinese funds, invested $250 million in Magento to boost company growth in the Asia Pacific area.
- In March, Magento honorably received the 2017 Global Ecommerce Platforms Product Line Strategy Leadership Award by Frost & Sullivan business consulting firm.
- In May, Magento was acquired by Adobe for $1.68 Billion and prepared for the integration with Adobe Experience Cloud and Enterprise CMS platform.
- Magento Imagine 2018 conference in Las Vegas attracted more than 3,000 attendees, across 60 countries around the world.
- Magento keeps releasing new versions of Magento 2 every three months. There were numerous bug fixes and feature enhancements seen in recent Magento 2.2.4, Magento 2.2.5 and Magento 2.2.6. The Magento 2.3.0 is going to be released with a lot of expectations. That’s why most of Magento 1 store owners now are planning to migrate their website to Magento 2.
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From the history of Magento, we can see the strenuous efforts and enthusiasm of its founders. And undoubtedly, there would be more great successes and achievements in the future.