- Magento is an open-source e-commerce platform written in PHP
- The software was originally developed by Varien Inc
- , a US private company headquartered in Culver City, California, with assistance from volunteers
- Varien published the first general-availability release of the software on March 31, 2008
- Roy Rubin, former CEO of Varien, later sold a substantial share of the company to eBay, which eventually completely acquired and then spun off the company
- According to the research conducted by aheadWorks in May 2015, Magento's market share among the 30 most popular e-commerce platforms is about 29
- On November 17, 2015, Magento 2
- 0 was released, with an aim to provide new ways to heighten user engagement, smooth navigation, conversion rates and overall revenue generation
- It has well-organized business user tools speed up build up time and enhances productivity
- Table locking issues have purportedly been considerably reduced, Improved Page Caching and also allows in streamlining Guest checkout process for existing users, Enterprise-grade scalability, improved performance and better code base are some of the touted benefits of newer Magento version
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