Magento is no doubt the online selling accelerator, thanks to its innovative features that help businesses to scale their growth as their customer base grows with time. This open-source eCommerce platform allows you to add plug-in options from other developments so that it can meet your needs. This is what open source is all about. However, as popular as Magento is, many people still do not know much about it. Here are the most likely ten things that you never knew about Magento.
- Magento was initially intended to be a fork off osCommerce, a popular eCommerce platform, back in 2007. A fork is built when open source code is further developed to create a new product, which is a branch-off of the parent product but is totally different.
- Magento derived its name from the color magenta – the color of its first logo. The parents of the system were Yoav Kutner and Roy Rubin and they wanted the product color to be magenta. When they realized the domain magenta.com had been registered, they took Magento instead.
- Barely a year after the release of this super software Magento, it surpassed its parent osCommerce in popularity in March 2009.
- The idea behind the creation of Magento was to leave it open ended so that ecommerce stores using this software could further develop it, add extensions and plug-ins to meet their needs, or according to their specific needs.
- Ecommerce giant eBay acquired a majority of Magento shares on February 2011 and later that year in June, they would go on to become the sole shareholders. They brought along the integration of PayPal into the platform.
- In 2012, the Magento software was downloaded more than 4 million times and was being used in more than 150,000 online shops.
- In 2015, Magento 2, a better, advanced and more simplified version of Magento was released. The only disadvantage was that it required merchants willing to switch from Magento 1 to 2 to redo all code from scratch again.
- Nike, Samsung, Olympus, Ford, Christian Louboutin, Coca Cola, Ford, Nestle Nespresso and Vizio are just a few of the big merchant names that use Magento. Today, more than a quarter million companies use this software.
- As of today, Magento is downloaded more than 5000 times everyday
- Magento is the most secure eCommerce platform because it is open code. This means its source code is available.
- You can create your own eCommerce templates to suit your specific business needs using Magento. This is not easy as it requires you to have some programming knowledge and experience. Many small business owners hire professionals to do the programming for them.
- Studies show that Magento takes a huge share of the eCommerce market, standing at more than 26 percent. This is expected to grow.
- Magento system has more than 5000 extensions, which make it easy for eCommerce website owners to customize their online stores according to their needs.
- There is a wide community of Magento users and enthusiasts numbering into millions. This makes it one of the most supported super software on cloud.
- Magento is no longer owned by eBay. When eBay was restructured in 2015, Magento was acquired by a private equity firm called Permira.
- In 2016, Magento went on and acquired a cloud-based analytical services firm that was offering its services to eCommerce sites and online merchants. The acquisition of RJMetrics made Magento all the more powerful.
- Magento won the 2017 Global Ecommerce Platforms Product Line Strategy Leadership Award. It was awarded by Frost & Sullivan, a popular business consulting company.
Conclusion
If you are running an ecommerce business on Magento or planning for one, you should look out for information about punchouts for Magento. A proper implementation of punchouts can make your ecommerce business run smoothly and see you make profits. And after knowing the above mentioned facts, you should know Magento better.