Developers can implement the core files and extend its functionality by adding new plug-in modules provided by other developers. Magento Open Source, previously Magento Community Edition, is an open-source eCommerce platform. There were also two former platforms, Magento Professional Edition, and Magento Go. Magento provides two distinct platforms: Magento Open Source (previously Magento Community Edition) and Magento Commerce the latter is available in an on-premises version (previously Magento Enterprise Edition) or as a platform-as-a-service (previously Magento Enterprise Cloud Edition). The acquisition was finalised on June 19, 2018. In May 2018, it was announced that Magento would be acquired by Adobe for $1.68bn with a view to integrating it into Adobe Experience Cloud, its Enterprise CMS platform. Īs a result of the breakup of eBay following Carl Icahn's raid, Magento was spun out as an independent company by the new owner Permira private equity fund on 3 November 2015. Yoav Kutner left Magento in April 2012, citing that the vision for Magento had changed since the time of acquisition due to high-level staff changes. Magento's CEO and co-founder Roy Rubin wrote on the Magento blog that "Magento will continue to operate out of Los Angeles, with Yoav Kutner and me as its leaders.". On June 6, 2011, eBay announced that it would be acquiring the rest of Magento, which would join its new X.Commerce initiative. In February 2011, eBay announced it had made an investment in Magento in 2010, worth a 49% ownership share of the company. In the first years of its existence, the platform has been the winner of the " Best of Open Source Software Awards" and "SourceForge Community Choice Awards" several times. Varien had originally planned to fork osCommerce but later decided to rewrite it as Magento. Varien, the company owning Magento, formerly worked with osCommerce. Seven months later, on August 31, 2007, the first public beta version was released. Magento officially started development in early 2007.
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