Magento is a popular and feature-rich open-source e-commerce web application designed to make the experience of running a modern business painless. With development starting back in 2007, and a release in 2008, Magento has had many years to perfect its features and functionality. And since Magento has existed for over a decade now, it's clear that this platform is here to stay for the foreseeable future. With highly-customizable options, a plethora of tools, and lots of documentation thanks to the massive Magento community, Magento is the most popular choice of e-commerce platform for a reason.
The development for Magento started back in 2007 by its parent company, Varien. At this point, Magento was merely beta software, without a fleshed-out feature set. Over the next two years, customizability was the main focus for Magento's parent company. With this, the extremely customizable nature of Magento allowed it to grow in popularity, even past its main competitor, osCommerce.
As the years passed, Magento grew larger and larger. So much so, in fact, that Varien's name was changed to Magento in 2010 as it was more recognizable. eBay wanted to get a slice of the eCommerce pie, so they bought a 49% share of Magento the following year. However, once eBay split up, so did their share. This led to Magento becoming a fully-independent company, owned by the Permira private equity fund in 2015.
Since then, Magento has grown to become the most popular eCommerce platform, offering both a consumer-level and enterprise-level version of their eCommerce software platform. This large size led to Adobe's merging of Magento's Commerce Cloud with their own Experience Cloud in 2019. From a small beta to a billion-dollar company merged with Adobe, Magento has showed its true potential to the world.
Magento is fully customizable and ready to meet any user’s requirements, allowing them to create and launch a fully-functional online store in minutes. Magento is known as a ‘heavy’ eCommerce solution and if not set up properly, it can be slow.