Last year,eBay acquired Magento, developer of an open-source e-commerce platform for around $180 million. Magento became part of X.commerce, a combined open platform business from eBay and PayPal. A year after the acquisition was announced, Magento co-founder and CTO Yoav Kutner has left eBay. While fellow Magento co-founder Roy Rubin sent Kutner off with a warm farewell, Kutner doesn’t have such… → Read More
Earlier this month, eBay acquired Magento, developer of an open-source e-commerce platform. Terms of the deal were not disclosed, but we’ve heard from multiple sources that the ecommerce and digital payments giant paid north of $180 million for the company, which will become one of the pillars of eBay’s new X.commerce group (alongside PayPal, Milo and RedLaser).
Apart from the purchase price… → 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… → Read More
Tim Schulz has resigned from his role as Senior Product Manager at MySpace, he confirmed a couple of hours ago on Twitter. Schulz let the MySpace executive team know that he was leaving the social networking company on Friday, and he informed us that starting January 2010, he’ll be running products as part of the general management team at e-commerce startup Magento.
Schulz was hired in the Fall… → Read More
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