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Magento

“Can an open-source e-commerce platform, now embedded inside Adobe's DXP, serve as the extensible commerce OS for mid-market and enterprise merchants through its plugin/extension ecosystem?”

Founded2007
HQSan Jose, California, United States
Total raised$2.2B
Latest roundAcquired by Adobe (2018)
IndustryE-commerce / Platform
The story

Magento was founded in 2007 as an open-source e-commerce platform and quickly became the dominant self-hosted commerce platform for mid-market and enterprise merchants. Adobe acquired Magento in 2018 for ~$1.68B and rebranded the enterprise tier as Adobe Commerce, integrating it into the Adobe Experience Cloud suite. The platform has since evolved from a PHP-based on-premise CMS to a cloud commerce platform with headless APIs, PWA Studio, and an extensive marketplace of third-party extensions—including embedded finance integrations via plugins for payments, tax, and open banking.

Last 12 months
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Product timeline
2007
Magento launched as an open-source e-commerce platform.· pivot
2018
Adobe acquired Magento for approximately $1.68 billion, integrating it into Adobe Experience Cloud as Adobe Commerce.· acquisition
2020
Adobe Commerce (formerly Magento) deepened its cloud commerce offering with expanded B2B capabilities and headless commerce APIs.· pivot
The stack
Payments / PSP
AdyenStripeTrueLayer
Lending
Mondu B2B BNPL for Magento merchants (buy now pay later for B2B e-commerce)
Open banking
TrueLayer
FX & payouts
AirwallexWise
Accounting
QuickBooks OnlineXero
Accounting gap: minor