Magento Now Magento Commerce, An Independent Company
As of November 2nd 2015, the ecommerce platform system Magento has become an independent company separate from eBay. Magento has been financially backed by Permira Funds, formerly known as Schroder Ventures Europe, a leading private equity group and advising firm.
Magento will now be known as Magento Commerce and this new company, and their sponsors, have some new ideas. Having combined their flagship Magento platform with new innovative mobile and omnichannel products, there is now a greater focus on driving growth to business through every component and facet of commerce.
Former owner/partner eBay Inc. helped Magento to grow from a small startup to the ecommerce solution juggernaut that they’ve become today. However with new owners comes new opportunities. They still remain as the top choice for ecommerce solutions but now also have the flexibility and passion of a startup. Hopefully this new found energy will be revitalizing to the company, and we can expect to see some positive changes. Especially regarding the anticipated Magento 2 system.
Permira Funds has also been welcomed as Magento’s new owners and advisors. Permira has decades of experience and are involved with many of the world’s top leading brands as well as various technology companies. Having successfully advised and invested in such varying industries, there was little surprise when they showed interest in Magento. Permira has deeply embraced the culture surrounding Magento; the power of open architecture, focus on the merchants ability to affect the customers experience, and most importantly creating greater ROI over other omnichannel investments.
Clearly both Magento and Permira are pleased with the new relationship, but developers as a whole can only hope the new partnership helps to improve the system. Merchants on the other hand could likely care less who owns Magento, they simply want the best that they can provide for their customers. Fortunately however, the ecommerce environment is ripe for the picking, and the specific benefits that Magento provide are needed more than ever. Customers have higher expectations when shopping nowadays, technology cycles continually become faster and faster, and the growing need to uniquely display brands and further differentiate them from fellow competitors has never been greater. Magento is now aptly positioned to take full advantage of fulfilling both merchant and developer needs and this is quite exciting. We all are looking forward to how this relationship will play out.