With the phenomenal amount of over $180 million, Ebay has finally purchased 100% shares of Magento. From now so on, the Magento will be an essential component of the eBay’s flagship X commerce Initiative. In this way, it will join the leading payment gateway giants such as PayPal, Milo and RedLaser. This acquisition will result in the strong presence of Ebay’s future plans in E-commerce platform.
Before the stunning deal of Ebay, Magento was known as globally recognized innovative open source content management system. In recent past, it has also got accolade with Exciting Commerce Innovative Star 2009 for the year 2003. Apart from this, it has gained the appreciation for bringing the innovative online shopping friendly web applications and payment gateway solutions together.
Moreover, the ecommerce friendly features such as default payment integration of paypal, category wise product management, easy checkout options, efficient pricing and discounting schemes made it the tool for building online stores. Such features given the recognition of most trusted open source content management system to Magento.
After the acquisition of Ebay, there were lots of questions and buzz around the market about the post-acquisition era of Magento. In response, eBay has given the answer regarding the future face of Magento. As per the Ebay Inc., the acquisition of Magento will result in greater resources and emerge of a powerful component in eBay Inc.’s X.commerce platform. Additionally, eBay inc. has also mentioned that the existing partners and the customers of Magento will still be able to use the platform as before. Moreover, the community version of Magento can still be downloaded as free.
With the competencies of Paypal, Milo and Red Laser, Magento, Ebay is going to rule the world of online shopping portals. It is necessary to explore the scenes behind this phenomenal deal of the Magento.