|The past several years have been an amazing journey for Magento, as we've grown from a new open source platform into an eCommerce leader. Along the way, we've built not only a platform, but a company and a worldwide community. Together, we've identified opportunities, taken risks, innovated, struggled, succeeded, and changed the face of eCommerce. Today marks a milestone on this journey as we announce the most exciting news in our company's history. |
Magento has reached an agreement to be acquired by eBay Inc. We believe this move will open incredible opportunities for the entire Magento ecosystem.
The Big Picture
Why is this acquisition so exciting for all of us? eBay is evolving to become a strategic commerce partner focused on delivering new ways for merchants of all sizes to drive innovation. As a centerpiece of this strategy, they are building a global, open commerce platform that leverages the worldwide developer community. And Magento will be at the core of this new, open commerce platform, called "X.Commerce."
Magento & eBay
As many of you know, Magento has had a relationship with eBay for some time. In March 2010, eBay became our first outside investor. Over the past year, eBay has gotten to know our platform, our culture, and our community. They have experienced the passion of the Magento ecosystem, and they are eager to harness the power of this ecosystem to create the next generation of eCommerce innovation.
Magento Forward: The Details
How will this acquisition impact our organization, customers and partners? It's too soon to know all the details, but there are a few things we know. Magento will continue to operate out of LA, with Yoav Kutner and me as its leaders following the closing. We'll continue building our team and our enhancing our product line, including the Magento Community, Enterprise, and Mobile Editions, as well as Magento Go and the Magento Go Platform. And we'll continue strengthening our training, education, packaged consulting services and support efforts around the world.
Through it all, we'll be collaborating with our colleagues at eBay on developing the X.Commerce platform and defining the next generation of eCommerce innovation.
Yoav and I recorded a short video message for the community – you can find it on our blog, along with FAQs about the pending acquisition.
Creating The Future Together
To all the members the Magento family: we thank you for all the passion, expertise and hard work that you've invested in Magento. Thanks to you, Magento finds itself exactly where we've always aimed to be: at the core of eCommerce. We are thrilled to become part of a larger organization that recognizes – as we always have – that the future of eCommerce is global, innovative and open. We look forward to creating that future with all of you.
Co-Founder and CEO, Magento