eBay’s Investment in Magento Revealed

eBay revealed at their latest analyst day that it owns a 49% stake in Magento and their invest $22.5 million one year ago. Magento announced back in March 2010 about the investment in a blog post without revealing the identity of the investor. eBay officially confirmed that they invested $22.5m in Magento in return for a 49 per cent stake in the four-year-old company on Thursday and caught many by surprise.

Magento’s accomplishments over a very short period of time are astonishing, but not surprising. Magento has become the fastest growing eCommerce platform in the world, and is poised to become the largest open source software company as well. Magento provides just that – a platform that we can leverage strategically to help our clients in the difficult process of continually moving that needle.

eBay’s commitment to Magento aim to be the premier marketplace and payment provider on the Internet, but it makes sense. “ We are fortunate to have a partner that supports our strong belief in open source, community and innovation, Magento controls the remaining 51% of the company, so Magento’s operations would remain mostly independent from eBay says, Magento co-founder and CEO Roy Rubin . By investing in Magento which is one of the premier ecommerce solutions available they are cementing their position in wider online retail than marketplace business. EBay Inc. chief technology officer Mark Carges said “Combined with the power of our platform innovations, we can offer retailers an unmatched advantage as an e-commerce partner, We view our platform assets as enablers, not just for our business but for other retailers.”

We make it easier to integrate Magento’s open source shopping solutions and design integration to online retailers. For further clarifications please click here to contact our sales team for further information.

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