With year-on-year growth of nearly 250 percent, Magento’s eCommerce platform has been offered since its open source Community Edition launched in the beginning of 2008, and a year later introduced its Enterprise Edition. Since then, the platform has been downloaded more than 2.5 million times and powers in an excess of $25 billion in annual sales from more than 80,000 merchants worldwide. The rapid expansion is further fortified by Magento’s community of more than 300,000 members. Additionally, in 2010, Magento doubled the number of members in its Worldwide Solution Partners program to more than 200 organizations across the globe. Subsequently so, according to Google Trends, the term “Magento” is now Googled more than the term “eCommerce.”
Magento’s velocity of adoption in 2010 has been demonstrated in multiple instances. Revenue for Q3 2010 was up more than 350 percent from the previous year, fueled by rapid global implementation of Magento’s powerful Enterprise Edition. This Edition is now being selected by the entire continuum of eCommerce companies, including everyone from start-ups and venture-backed innovators, to mainstream brands and the world’s largest retailers. Clients now include Oneida, Nafnaf, HoMedics, Giro, 3M, Lenovo, Flor, Toms Shoes, GoNabit, and Levi Strauss, to name a few. Additionally, Magento is adding more than 100 new enterprise-class customers each month.
As a result of this massive growth and expansion, talent at Magento has grown from 90 to more than 200 employees over the course of 2010, placing focus on technology, support and channel. In Q3 2010, Magento also appointed two new Senior Executives – Jary Carter, Vice President, Sales of North America and Michel Goossens, Vice President and General Manager of EMEA to assist in spearheading international expansion.
Despite the continuing success of Magento, the company’s focus on driving innovation and ecosystem growth hasn’t been displaced, but instead, has been equally successful in multiple arenas. In Q3 2010, the Magento Mobile mCommerce platform for the iPhone was released, allowing retailers and developers to swiftly generate highly customized, native-branded iPhone application storefronts. This motion played an instrumental role in bringing the functionality of Magento’s eCommerce platform to mobile devices. The Magento Connect Marketplace, powered by Magento’s innovative community, now boasts more than 3,000 extensions and applications created by third-party developers as add-ons to the Magento eCommerce platform. New extensions provide greater flexibility and innovation for merchants, and are being developed at a rate of 100 to 150 per month. These include applications for payment, social shopping, shipping, deals of the day, theme and more. Magento’s international partners are exhibiting similar growth rates and success driven by the booming demand of merchants seeking Magento customization and integration for their eCommerce platform.
Magic Logix is proud to be one the seven Magento Community Partners in the United States, and will be attending the inaugural Imagine eCommerce Conference on February 7th-February 9th, 2011. This exclusive conference will feature insights from industry leaders and peer-lead dialogues on business strategy, technology, marketing, and merchandising.
