They intended to create a solution that would provide both B2B and B2C merchants worldwide with unified shopping experiences, more personalization, common architecture, and greater business agility. Together they built an integration framework that allowed Adobe Experience Manager, Adobe Analytics, and Adobe Target to transmit data to and from Magento Commerce and Magento Commerce Order Management. They had initially partnered with Magento in September 2016 to integrate their platforms and services. Partnership historyĪdobe was no stranger to the platform before the acquisition.
In 2017, Hillhouse Capital, an Asia-focused equity firm, invested $250 million into the company to further grow Magento, and it was after this investment that Adobe acquired the business entirely in 2018. Following the acquisition, the group split Magento from eBay Enterprise, and Permira Funds took ownership of the company intending to grow the company and expand its existing offerings. In 2015, eBay sold Magento as a part of eBay Enterprise to a consortium of private equity funds for $925 million, of which the valuation of Magento was approximately $200 million. In 2011, they began working on Magento 2, and it was during this time that eBay decided to integrate its payment processor PayPal into Magento 2 as a core module. Rubin and Kutner continued to work for the business with eBay until 2015 and made significant contributions to the platform. In 2010, eBay purchased a 49% stake in the company and less than a year later fully acquired the company from Varien Inc. Soon after its launch, the popularity of Magento in the open-source community began to grow, and it surpassed its main competitor osCommerce, within its first year on the market. Magento was conceptualized and created by Roy Rubin and Yoav Kutner through their company Varien Inc.
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