Did You Know These 7 Interesting Facts About Magento?

Developed in 2007 and released in 2008, Magento is currently the most popular and unstaggering eCommerce development platform in the world. More than 250,000 online stores are powered by Magento. The platform is exclusively designed for setting up fully-functional online stores, thus, it takes 12% market share in setting up eCommerce websites. Many well-established businesses such as Samsung, Ford, Olympus, Nike, North Face rely on Magento for good reasons. Therefore, if you’ve decided to invest in a Magento 2 development company, you have made the best decision related to your eCommerce business.

Ecommerce business leaders and developers often look for the existing reality, facts and figures to stay ahead in the competition. In this case, Magento is really rich when it comes to Magento facts and figures.

This article highlights a few interesting facts that you might have never known about Magento.

7 Amazing Facts to Know About Magento

#1. The Real Story behind Magento’s Name

During its development phase in 2007, the platform was first names ad Bento and was known with the same name through its first open beta version in the same year. However, due to some legal conflicts that arose over the name, Bento became Magento. The logo of Magento was colored Magenta which led to some beliefs that the color was the inspiration for the new name. But in reality, it was because the Magento developers thought Mages, who were the spellcasters from fantasy roleplaying games, were cool

So, they changed the ‘Ben’ in Bento to ‘Mage’, thus naming it as Magento. It may sound a weird and thoughtless naming choice, but when it comes to Magento’s incredible functionality and the revolutionary effects it has on the eCommerce industry, the name appropriately suits the platform.

#2. Magento Hosts Its Own Annual Convention

Magento is backed by a proactive and enthusiastic community of more than 800,000 members. And therefore, it celebrates this large community every year with the annual ‘Imagine Ecommerce’ Convention.

Participants of the convention include a group of Magento developers, merchants, and partners who all meet to hear about the latest news and updates regarding the evolution of Magento.

The first event was held in Los Angeles in the year 2011 with over 600 attendees. In 2018, the number of visitors rose to over 3,000.

#3 The Value of Magento Has Risen Due to Changed Ownerships

Magento has witnessed changing ownerships over time. Roy Rubin was the first developer of Magento who started the company Varien that created and released the earliest versions of Magento. Since then, Magento has been bought and sold at a profit several times.

Breakdown of the Timeline

• 2007 – 2011: eBay initially bought a 49% stake in the Varies in the year 2010. Later in 2011, eBay acquired the rest of the company for over $180 million.

• 2011 – 2015: eBay managed Magento for a few more years and placed the platform under their eBay enterprise branch. In 2015, eBay sold that branch to several buyers for $925 million, with Magento being acquired by Permira.

• 2015 – 2018: Permira sold Magento Commerce to Adobe Systems Inc. for $1.68 billion. Adobe plans to connect Magento Commerce cloud Adobe’s Experience Cloud. The main motive behind this purchase was to combine the two into a single versatile platform that is oriented toward B2B and B2C customers.

• 2018 – Onward: Over time, the value of Magento has increased from $180 million to $1.68 billion in 8 short years. With Magento eCommerce development gaining more popularity and incoming plans for greater expansion, the value of Magento is expected to rise in the upcoming years.

#4. 5000 Software Downloads Each Day

Magento received more than 500,000 downloads in its first year itself. To date, the number continues to grow as the Magento installation package gets an incredible 5000 downloads per day. It is recommended downloading the software from the official website to avoid the risks of malicious viruses when downloading from external sites having links to pirate Magento.

If you need help with Magento installation and configuration, you may hire Magento 2 developers from a reputed Magento 2 development company for the required assistance.

#5. Magento Dominates the Whole World

Google revealed that the word ‘Magento’ has been searched for more than the word ‘Ecommerce in some countries! This is because Magento is widely recognized by developers and users across the globe. Magento certified developer program is a good benchmark for this. The program has accredited Magento developers from 73 countries. However, of the 73 countries where developers are listed, only 11 countries have more than 100 certified Magento developers.

Currently, there are more than 3,800 certified Magento developers listed in Magento’s directory and the list still continues to grow. Also, you must not forget to count other uncertified Magento developers working with the platform as well.

When talking about Magento users, most are located within the USA, accommodating more than 100,000 users. The UK and the Netherlands hold the second and third positions with over 16,000 and 14,000 uses respectively.

All these figures are enough to encourage anyone to hire Magento 2 developers for creating a distinctive online presence.

#6. Most Magento Sites Face Security Issues

Every Magento 2 development company and business owners must keep website security as their topmost priority. According to Astra security, 62% of Magento eCommerce stores face at least one ongoing security issue, whether it is using an outdated Magento version, missing security patches, having an unhidden admin page, and other unsafe website practices,

The stats also reveal that 85% of eCommerce websites that face security problems are built on the Magento platform. Since Magento is a very popular eCommerce platform and is widely being used by enterprises, it becomes the common target of many cyber attackers.

In fact, most security breaches happen due to avoidable weaknesses in website security, bad website practices, and general user errors, rather than being the fault of Magento alone.

However, every registered Magento 2 development company or independent developers as a member of the large Magento community make contributions to resolve the potential security issues with Magento, making the platform more secure.

#7. PSD to Magento Theme Development is Gaining Popularity

PSD to Magento theme conversion plays a crucial role in the success of your eCommerce store. You can plan for SEO beforehand with the use of pre-defined PSD to Magento theme creation. With Magento, you are free to create eCommerce templates by yourself so you can address all your business-specific requirements. However, this requires some level of coding knowledge and skills.

So, if you feel you’re not confident, reach out to a professional Magento 2 development company that will take care of everything.

Conclusion

This list of Magento facts and figures doesn’t end here. It will continue to grow as the Magento 2 platform evolves. No doubt, Magento offers a plethora of benefits that entice business owners to hire Magento 2 developers for building their online stores, however, if you don’t keep your Magento software up to date, you may be exposed to greater risks of security issues.

If you’re not technically-sound, then it’s always wise to approach a Magento 2 development company for the required Magento 2 support, whether it is related to Magento theme development and customization, Magento website development, Plugins and Integrations, Website maintenance, or Magento upgrade and migration.