so what is Magento Magento is one of the most popular open-source ecommerce CMS platform is
at the moment this might sound like a bunch of jargon to you right off the bat as it did for me
at one point so let's help you break this down Magento open source ecommerce CMS platform open
source is software in which the source code is released under a license where the holder allows
users the right to enhance alter and modify this code in any way they see fit to meet their needs
and simple terms it's essentially free code pretty cool huh ecommerce software as most of you know is
software that allows commercial transactions to be conducted electronically in other words
an application used to sell products and services online now what about those three random letters I
threw out there see M s CMS stands for content management system a CMS is an application used
to manage all content related to a product or service in one central location so there you have
it Magento is an open source ecommerce content management system Magento was started by this
guy named Roy Rubin Roy was an ordinary student just trying to make some extra cash on the side
but instead of waiting tables or pouring cocktails he founded a company in 2004 to fund his student
lifestyle this Anthony was called Varian Roy don't really have a vision for the company at the time
not really what they teach at business school but for him it was something he was doing to maintain
his competency level while continuing to learn and grow professionally so from 2004 Varian went
from no master plan whatsoever to launching Magento in 2008 which now powers billions
of dollars in sales fast forward a few years to 2011 ebay buys 49% share of Magento followed by
the entire acquisition a mere four months later Roy remains CEO of Magento for two years before
stepping down and leading the company I think he planted some pretty good roots there considering
their impressive numbers for example two years ago Magento accounted for approximately thirty
percent of the total market share last year in 2019 155 billion dollars worth of goods were
sold through Magento based systems alone today a platform source code has been downloaded more
than two and a half million times and more than 100,000 online stores have been created on this
platform these online stores are a mix of b2b and b2c small medium and enterprise businesses
some of these include coca-cola Nike Ford and Warby Parker just to name a few these are giant
dominant multi-million and multi-billion dollar companies putting their trust in Magento to run
their online businesses so if Magento serves these types of companies you can imagine the
extent of their features customization options and scalability potential there is for small and
medium-sized businesses out there from the ability to engage with content to managing your orders and
inventory to shipping and even providing customer service Magento really is a one-stop shop for all
ecommerce business needs they truly allow you to create an engaging full lifecycle shopping
experience unique to your branch no matter the size or the goals of your business so if you're
looking to start your own e-commerce store or wanting to switch your current platform app that
you may not be satisfied with check Magento outs there are two versions one free version and one
paid version I know what you're thinking I just explained that open source essentially means free
coding and it does don't get me wrong the free version which used to be called community but
now goes by open source frankly is perfect for most sized businesses here at IWD we've helped
small startups all the way through to large multi-million dollar companies on this free
version you can do so much with it the paid version of Magento which used to be called
enterprise and now goes by Commerce is targeted more at larger ecommerce companies generally
doing more than a million dollars a year online so let's be honest when we get to this level of
sales I think we can all agree that Magento isn't asking too much from us to pay for their source
code at that point well there you have it we hope you found this information on Magento
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