Everyone needs an iPhone app it seems, even e-commerce sites. But most shopping sites don’t want to bother with creating their own custom mobile app. So now we are starting to see white-label mobile e-commerce apps. Today, Magento Commerce, which raised $22 million in March for its open-source e-commerce platform, is getting into the mobile game with white-label apps for existing customers who use its e-commerce backend. With 70,000 customers, that a lot of built-in sales leads. Already, 8,000 of them are beta testing the mobile product, including The North Face, the Miami Dolphins, and Flowe(Red). → Read More
According to a regulatory filing, LA-based Magento Commerce, which develops an open source e-commerce software suite, has recently received a $22.5 million capital injection in an equity funding round.
Magento was originally a product developed and marketed by Varien, a 9-year old company that also delivers e-commerce business consulting and other services, but has now effectively been incorporated as a stand-alone venture. It’s unclear whether the financing of Magento comes from Varien, or if the latter company’s existing and / or other investors have stepped in to provide funding. Either way, the company says it concerns ‘fresh’ cash. → Read More
