Magento is an open-source e-commerce platform written in PHP. It is one of the most popular open e-commerce systems in the network. This software is created using the Zend Framework. Magento source code is distributed under an Open Source Initiative (OSI) approved by the Open Software License (OSL) v3.0, which is similar to the AGPL but not GPL compliant.

Milestone of Magneto through 20’s

2007
Roy Rubin and Yoav Kutner were working for Varien Inc. while they were still in college. Here, they were responsible to develop and enhance the osCommerce platform. However, seeing a lot of limitations of osCommerce, they decided to build a new platform from scratch with a higher level of scalability, stability and more e-commerce features. That’s the way Magento was born.

2008
Just 7 months after the first release, on March 31, the first stable version of Magento was introduced. This was called Magento Community Edition (CE).

2009
Magento became more and more prevalent, even more well-known than osCommerce.

2010
Varien Inc. changed its name to Magento.

2011
Magento introduced Magento Developer Certification, providing official training programs and holding competitions to evaluate the capability of developers.

2012
A new record was made: Magento platform was downloaded more than 4 million times and was widely used by over 150,000 e-commerce stores globally.

2015
In July, Magento 2 was released, marking a breakthrough not only in the history of Magento history but also in the e-commerce industry history. Compared to Magento 1, Magento 2 brought about plenty of improvements and enhancements in terms of design, performance and user experience. Nevertheless, as it was just released and unstable, not many merchants wanted to migrate from Magento 1 to 2.

2016
The Magento Enterprise Edition (EE) was released with the aim of targeting large e-commerce businesses who have more complicated demands.

2017
In January, Hillhouse Capital, one of biggest Chinese funds, invested $250 million in Magento to boost company growth in the Asia Pacific area.

2018
Magento was acquired by Adobe for $1.68 Billion and prepared for the integration with Adobe Experience Cloud and Enterprise CMS platform.

Reference
https://en.wikipedia.org

A Brief History Of Magento From 2007-2018 [Infographic]

For more info

Magento

A Brief History of Magento: 2007 – 2019

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