Recently, LA- based Magento Commerce has received a$22.5 million capital injection in an equity funding round. This was marked by a regulatory filing stating Magento as only suitable open source commerce software.
Magento, a 9 year old company, marked by Varien, delivers e-commerce business consulting and other services. Today, this company has power to stand alone as a unique venture in the market. If we talk about Finance Management of the company then it's very unclear that whether finance comes from Varien or its handled by the latter company's existing. It can be even possible that other investors might have stepped in for the funds! On this regard, the only saying from the Magento Company is that it concerns 'fresh' cash. It has also been indicated that the digital payment company is in partnership with Magento. And this extends both co-marketing of their respective services as well as collaboration on a product development level.
It has been discovered that, Magento eCommerce Solution will be positioned right in the center of various growth areas of electronic commerce. In addition to this, it has been even stated by Tim Schulz, Magento’s Senior Product Manager, which Magento aim's to be a provider of the single largest e-commerce platform in the world. Bonus points for showcasing some ambition.
Currently, if we count then, Magento deals with 60,000 merchants buying its own software. The merchants have downloaded about 1.5 million times as of January 2010. The company also reveals the fact of their registration increment as they’ve registered over $15 billion in transactions to date. The road map for the future is apparently paved with additional products, with a number of “Mobile Commerce, Saas offering and other products/services” coming later this year.
By default, Magento offers all the below given facilities: Magento, an open source e-commerce service, instead of just developing your software services, mainly focus on your business selling goal tools. As Magento is aware of the fact of increasing qualified traffic in context to e-commerce platform. Being open source software, Magento freely and easily imparts you the code of development by a broad community of developer. Certain companies like Tool king rely on Magento for a new website platform which is developed with the PHP programming language (under the Zend application framework) to support a high level of flexibility in web page design and functionality.
Magento development, an open source web application enhances a classic online carts with the most advanced and qualified technical features. Also Free access to understandable information on how the software functions with the uploading of new features is done by Magento development.
Within no time, Magento built your shopping online cart with a drastic qualified and advanced features. If you utilize Authorized Version of Magento, implements qualified store to handle your user's business very well. Furthermore, with an exclusive SEO functions, it allows the active community of developers to report problems, provide suggestions and share. Due to qualified traffic and conversion rates, Magento online shopping cart serves huge varieties of payments and international currencies, which ease out the complexities of money transactions.
Thus, Magento is not only a solid platform which is flexible to serve your needs, but also strong to compete with much more expensive e-commerce solutions.