Magento is an open-source e-commerce platform written in PHP. It is one of the most popular open e-commerce systems in the network. This software is created using the Zend Framework. Magento source code is distributed under an Open Source Initiative (OSI) approved by the Open Software License (OSL) v3.0, which is similar to the AGPL but not GPL compliant.
The software was originally developed by Varien, Inc, a US private company headquartered in Culver City, California, with assistance from volunteers.
More than 100,000 online stores have been created on this platform. The platform code has been downloaded more than 2.5 million times, and $155 billion worth of goods have been sold through Magento-based systems in 2019. Two years ago, Magento accounted for about 30% of the total market share.
Varien published the first general-availability release of the software on March 31, 2008. Roy Rubin, the former CEO of Varien, later sold a share of the company to eBay, which eventually completely acquired and then sold the company to Permira; Permira later sold it to Adobe.
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