We read with interest via Permira’s recent article announcing that Hillhouse Capital’s intention to invest $250m in Magento Commerce to drive forward the company’s growth strategy along with global sales expansion, support for marketing and clients, the innovation pipeline and future strategic acquisitions.
Mark Lavelle, CEO of Magento Commerce says that ‘Magento is already the largest global commerce platform in the world, supported by a vast global ecosystem of system integrators and partners who enable over 250,000 customers, who collectively generate more than $50bn in sales worldwide. The capital investment will accelerate Magento growth and bring experience and perspective from a major investor. It’s a privilege to have two prominent technology investors backing Magento’s vision.’
Magento became an independent company one year ago, after being bought by Permira Funds from EBay in November 2015. Permira continue to own a majority stake in the company. Hillhouse is a leading investor, known for their successful long-term investments in some of the world’s fastest growing tech companies around the world. Hillhouse have partnered up with the Magento management team and Permira funds, in backing the long term vision of Magento Commerce.
Robert Williams, CEO of Magento Enterprise partner Williams Commerce says, “This is fantastic news for Magento and for the wider Magento community, a further vote of confidence in the platform as it continues to go from strength to strength. We hope to see the pace of new functionality continue to increase as Magento continues to be the platform of choice for Retail and B2B Ecommerce worldwide.”
Magento’s release of Magento Commerce Cloud has been positively received in the industry. An advanced public-cloud platform that further optimises performance, security and scalability of Magento Enterprise Edition. One of the many benefits of the Magento cloud product is its ability to offer seamless integration with the SaaS based product portfolio: Magento Commerce Order Management, enabling omnichannel catalogue, payment and fulfilment alongside the recent addition of Magento Analytics. Magento also offers the largest eCommerce marketplace for extensions available for download on the Magento marketplace.
Magento was named, for the fourth time running, number one digital commerce platform on the 2016 Internet Retailer Top 1000.
